Secretary Amasses Millions By Copying Her Boss’ Investments

Sometimes it pays off to pay attention.

Sylvia Bloom grew up in the Great Depression and went on, in 1947, to be a legal secretary. Back then, secretaries pretty much ran their boss’ lives. So, when she made a stock investment for him, she’d make one for herself. Bloom lived frugally and trudged to work day after day on the subway.

She finally retired and 96. Then the size of her estate was revealed. It was nearly 10 million dollars! The bulk of her estate was willed to a charity that helps the poor in Brooklyn as well as Hunter College and a scholarship.

Bloom died in 2016 a richer woman than her money could create. And she’s not the only closet millionaire. There’s Ronald Read, a janitor who wore flannel shirts and drove a used car. He left an eight million dollar nest egg. Most of his money was left to a library and a hospital.

Robert Morin, Grace Groner, and Doris Schwartz also amassed millions, lived simply, and in the end gave it away to worthy causes.

A good lesson to learn in the era of “wanting more.”

Source: NBC News

Paul James

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