There was a story in the news back in 2015 about a janitor and gas station attendant who died at the age of 92 leaving behind an $8 million fortune to his unknowing heirs. How in the world did a quiet, hard-working man amass that kind of wealth? And how is it possible that no one who knew and loved him had any idea he was wealthy?
Life choices and patient investing led Ronald Read of Vermont to becoming a very rich man. His friends and family called him thrifty as he lived a modest life. After his passing, the Wall Street Journal analyzed Read’s portfolio and discovered his investment strategy was playing the long game. It turns out he held many of his investments for decades which meant big returns in the end. But Ronald’s family never knew he was wealthy because he didn’t choose to cash out. He lived the life he wanted and then left his heirs in a better place financially.
The story of Mr. Read is an old one, yet it never gets old to hear about someone who had a dream and realized it. Yahoo! Finance recently wrote about Ronald Read, as well as famed investor Warren Buffet who amassed most of his fortune after age 60, as a reminder to investors to be patient.
Alloy Investment Management would like to remind readers that it’s never too late to achieve your financial goals. Call us at 800-689-3935 to schedule a consultation with one of our experts.