Author Topic: 96-Year-Old Secretary Quietly Amasses Fortune, Then Donates $8.2 Million  (Read 1289 times)

Fig

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"Ms. Bloom joins the ranks of unassuming and magnanimous millionaires next door, who have died with fortunes far larger than their lifestyles ever would have suggested."

www.nytimes.com/2018/05/06/nyregion/secretary-fortune-donates.html?smid=fb-nytimes&smtyp=cur
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englishteacheralex

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I loved this article. Already read it, and was thinking of posting it here. You beat me to it!
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marty998

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Damn that woman is badass!

96 years old and was still walking to work in the snow!

I'll bet she was sharp as a tack in the office too. Wouldn't have taken any shit from the lawyers and grads young enough to be her great-grandchild age.

Good on her :)

expatartist

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Was going to post this as well. Thanks, OP! What a great lady - donating most of her savings to others who could really use it.

SnackDog

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I'm not sure working until you are 96 is badass by the standards of this forum, but living frugally certainly is.
The habit of saving is itself an education; it fosters every virtue, teaches self-denial, cultivates the sense of order, trains to forethought, and so broadens the mind. –Thomas T. Munger

calimom

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I like that when she did a stock transaction for her boss, she'd buy some in her name, which helped her amass the portfolio she had. This was well before the days of index funds, so the when you invested, you bought IBM or Coca Cola or that company with the funny sounding name - Xerox!

And I like thinking that she worked until she dropped because she wanted to and found it interesting. Her bequest will impact the lives of many, many worthy young people who will go out and do cool things.

MrsTuxedocat

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Lovely lady and lovely article.

Kyle Schuant

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I'm not sure working until you are 96 is badass by the standards of this forum, but living frugally certainly is.
The point of wealth is being able to live as you choose to live. She chose to keep working.
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jengod

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I like that when she did a stock transaction for her boss, she'd buy some in her name, which helped her amass the portfolio she had. This was well before the days of index funds, so the when you invested, you bought IBM or Coca Cola or that company with the funny sounding name - Xerox!

This is actually a plot point in the Audrey Hepburn movie Sabrina. Her father is chauffeur to a wealthy family and listens when the rich grandfather talks about investments. He saves and invests enough on his working-man salary to be able to send Sabrina to Paris for an education.
« Last Edit: May 08, 2018, 12:39:29 PM by jengod »
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SnackDog

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While it is nice to assume she had her dream job and loved going every day and treated it as a choice, the article doesn't actually say that nor do I infer it. She was a daughter of immigrants and conditioned to work hard even if it meant going through bombings and snow storms.  Her job was tough - attorneys can be horrible bosses. She had a very high work ethic, was extremely frugal, and didn't know what else to do with her time - "where else would I be"?  It is really kind of sad story for me.
The habit of saving is itself an education; it fosters every virtue, teaches self-denial, cultivates the sense of order, trains to forethought, and so broadens the mind. –Thomas T. Munger

Morena

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Wow, what an amazing story! I do think it's badass. Living frugally because you want to be able to get away from a job is fine; living the lifestyle you want regardless of how much extra money you might accrue sounds like a more fulfilling life to me. I can't imagine that she didn't think she could have retired with 5 or 6 or 7 million saved.

expatartist

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Since we don't know anything about what she thought or felt, whether an Inner Bag Lady was a positive or negative aspect to her personal life, all we've got to go on is what she did: after a modest life of routines (and long marriage to a man who in his 'retirement' worked two jobs) during which she talked about wanting to help the next generation, she was able to do it.

pachnik

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It is an interesting story.  Thanks for posting it. 

About 20 years ago, I worked in the Estates department of a mid-sized downtown lawfirm.  Most of the clients who made their wills at our firm were quite well off.  Then eventually, the firm would probate their estates.   I worked on those files as an assistant.  There was an particular investment company that several of the people had invested with.  So I saved up the minimum amount I needed to get started there and have been there ever since.   

BuffaloStache

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Seriously a cool story. Definitely inspired me to continue working towards my goals...
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Zola.

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What a story! Thanks for sharing.