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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TIMESTAMPS:
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
SUMMARY:
- 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.
Music by Epidemic Sound
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