One of the things I plan to do is share examples of people who live within their means, save, and have built wealth the really old fashion way--$1 at a time. I hope having examples will inspire us all to save for the future.
Growing up in the depression surely had a dramatic affect on many people. Some it caused to have a deep desire to possess things. Others learned the value of saving, saving, and saving for a rainy day.
Grace Groner may or may not have understood time value of money, but she certainly understood saving and frugality were a road to security. The Chicago Tribune tells the story of a woman who never earned very much, bought 3 shares of Abbott Labs in 1935, lived in a small home her entire life, was extremely charitable, and never showed her wealth to anyone. Even the donation she made at her death was not known in size until after her passing. Those three shares of Abbott Labs, her added savings, and the discipline to reinvest all dividends for 70 years ended in nearly a $7 million nest egg.
I'm inspired by this woman's resolve, discipline and generosity. Her journey to wealth resembles that of many "Millionaires Next Door".
Enjoy the article.
Josh
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