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Wednesday, September 19, 2007

On the road to millions despite lower salary

The Kiplinger.com article profiles, Earl Crawley, a 69-year old parking-lot attendant who earns $20,000 a year and yet has been able to amass a stock portfolio woth more than $500,000! How did he do that?

"I did it with good old-fashioned nickels and dimes. My mother taught me how to budget, which made me appreciate how a little money can grow. I saved what I could from odd jobs, such as lawn-cutting and window-washing, that I did in addition to my day job. I used that money to buy one share of IBM stock back in 1981, which cost $400."

Despite being dyslexic and not knowledgeable about the stock market, Earl wasn't scared of the stock market and used tips from financial planners etc for making investing decisions. Result? - he is able to have a sizeable savings and investment portfolio.

The story is indeed very impressive and shows how a person can accumulate wealth in this great country even on a lower salary. What's required is the willingness to work hard, persistence and effort to acquire knowledge.

For complete article, see:

Kiplinger.com: Investing With Nickels and Dimes

Points.com eLearners Earn Rewards at MyPoints.

posted by Ruby @ 7:02 AM

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