I am sharing with you 3 classics real stories from USA. Three of them are employee just like you and me working 8am – 5pm every day till retired. This is a great example of what can come when someone invests often and lives frugally, while only earning a modest salary working a 9-5 and how that can snowball into something massive, to the tune of over few million dollars over the course of a lifetime.
1st Example: Syvlia Bloom
This story is about a woman named Sylvia Bloom, from
Brooklyn, New York. She worked as a secretary for a Law Firm. She made a modest
salary. She took the bus and subway to get around. She never flexed on them
haters. She also accumulated a fortune of about $9,000,000. She grew up in
Brooklyn New York during the Great Depression. In 1947 she began working at a
Law Firm as one of its first employees, where she ended up working for 67 years
until she retired at 96 years old. But how she lived day-to-day is an indication
of how she became so wealthy. They lived in a Rent controlled apartment. She took the Subway to work. She’d opt to take the bus over spending the money for a cab. She never talked money, never called attention to herself, and she lived extremely modestly. This allowed her to secretly invest her money, instead. She’d save her money, live modestly, and invest everything she could. In her lifetime, thanks to compound interest, this lead to over a $9,000,000 Fortune…$8.2 million of which was donated to charity for college scholarships.
2nd Example: Leonard Gigowski
Leonard Gigowski worked as a Navy Cook during World War 2 and shortly
after worked as a meat cutter. That company gave him company stock, which he
held on to - and later opened up his own grocery store. He expanded to a night
club and rental properties over his lifetime, but maintained a frugal
lifestyle. When he passed away at the age of 90, his thrifty living and
investing habits left him with $13,000,000 which he donated to charity.
3rd Example: Grace Groner
(original Story: https://www.businessinsider.com/an-old-ladys-three-60-shares-from-1935-are-now-worth-7-million-2010-3?IR=T)
Another secretary who amassed a $7,000,000 fortune for
charity by the time she passed away. Like earlier two examples, she didn’t have
a high income - but she lived modestly and invested her money. In 1931 she
began working for Abbot Laboratories, and in 1935 she saved up enough money to
buy three shares worth $180.00….and she never sold them. Despite the stock
skyrocketing in price, she never increased her lifestyle. She never bought
expensive things. She lived in a small apartment for most of her life. And
during her retirement from the company, she’d spend some money on travel and
would actively volunteer…but she never touched the principle of her investment.
And that led a $7,000,000 donation for college scholarships when she passed
away.
Hope during this COVIT-19 Movement Control Order (MCO) 18- Mar to 31 Mar 2020 will able to inspire you to think about investing.
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