Wealth edition 30-Dec-2024 to jan-4,-2024
Some time ago, I came across the fascinating story of Ronald Read, an American janitor and gas station attendant, who, when he passed away in 2014, left behind a $8 million fortune. What is truly remarkable is that he built this wealth while working jobs that never paid him more than a modest salary. The striking thing is that Read’s story isn’t about some magical investment strategy or discovering the next big thing. Instead, it’s about the fundamentals of investing I’ve written about in this column for years, with an extraordinary demonstration of their power.Working at a gas station for 25 years, and then as a janitor at JCPenney for another 17, Read invested consistently in what he understood. He focused on dividend-paying…
