Imagine you woke up one day to find out that you’re a multi-millionaire. What’s the first thing you’d do? Maybe buy your dream house? Or a superfast car? Possibly a yacht? But you see, not everyone has the same impulses.
One janitor managed to prove everyone wrong with his intelligence and investments. By the time he was 92 years old, he was worth 8 million, and he’d achieved it all by himself. His story, however, is rather unusual.
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His childhood and youth 1:06
Ronald’s secret 1:51
Why nobody believed this man was rich 2:45
The worth of free education 4:16
How did he make his money? 5:32
– Ronald Reads was born on October 23rd, 1921. He grew up with his family in a tiny house in Vermont, where they ran a farm.
– In fact, in 1940, he became the first person in his family to receive a high-school diploma, which was huge back in the day.
– Upon his return to his home town, he got right to work as a gas station attendant at Haviland’s Service Station.
– He worked at the same gas station for the next 34 years.
– Then he got a part-time job as a janitor at the local department store. There, he worked another 17 years.
– Ronald was a private guy. He used to love chopping wood and driving his second-hand Toyota Yaris around town.
– The reason why nobody believed this man was rich was because of the way he dressed and handled money.
– One of the things he loved doing on a daily basis was to visit the cafeteria of the local Memorial Hospital.
– Unfortunately, the Hospital Cafeteria was shut down a few years later and Ronald sought out a new coffee stop.
– The local hospital’s development director advised Ronald to pay a visit to the nearby Library.
– He fell in love with a very particular newspaper: The Wall Street Journal.
– He’d spend hours and hours studying about the stock market and investments, until he was able to tell which companies were worth putting his money into.
– Here’s how he secretly made his fortune. He was a true wizard at picking stocks and studying the stock market.
– He invested in companies that paid substantial dividends, or bonuses, in layman’s terms.
– When he passed away, he had more than 95 stocks spread around different industries, such as: telecommunications, healthcare, consumer goods, railway transport and public utilities.
– He gave approximately $2 million dollars to his two stepchildren and some friends. He donated $4.8 million dollars to the Brattleboro Memorial Hospital, and he also donated $1.2 million dollars to the library he used to study at.
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