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To: DUMBGRUNT
This is a good example of the power of investing over a long period of time.

As he was 87, he likely had around 50 productive years where he was making money at a job. If he put 20% away on even a modest income, and invested in something similar to a indexed mutual fund based on DJIA or S&P 500, it makes sense he would have that kind of money today, even after some 20 years of retirement (and I'm just guessing he retired at the traditional age).

Plus, since he didn't have a wife or kids to support, he might have socked away even more than the 20% of income.

Anybody can become a millionaire on a modest income. All you need is the discipline to set aside a portion of your salary each pay period - and time.

16 posted on 10/24/2022 10:13:37 AM PDT by SamAdams76 (4,353,227 active user on Truth Social)
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To: SamAdams76

Might have bought a ton of Microsoft, Amazon, etc years ago.


28 posted on 10/24/2022 10:27:13 AM PDT by Bonemaker (invictus maneo)
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To: SamAdams76

“he didn’t have a wife or kids”

There is the secret.

No wife, no 50% divorce.

No kids to pay for college, etc.

“Send lawyers, guns and money, Dad get me out of this.”


34 posted on 10/24/2022 10:35:13 AM PDT by woodbutcher1963
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To: SamAdams76

—”Anybody can become a millionaire on a modest income. “

The problem is that with biden inflation we all become millionaires, of a lesser order.


48 posted on 10/24/2022 11:05:27 AM PDT by DUMBGRUNT ( "The enemy has overrun us. We are blowing up everything. Vive la France!"Dien Bien Phu last messa)
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