As one-time Vermont-based janitor and gas station attendant Ronald Read displayed, you don’t need to earn a six-figure income to become a multimillionaire. Unbeknownst to even his family until he died at age 92, Read had quietly built an $8 million portfolio. Mr Read maintained a frugal lifestyle and never spent money unless he had to. But it was his smart investing strategy that reaped such astounding financial rewards. He had the control to buy and hold stocks for the long haul. Money is made in investments by investing, and by owning good companies for long periods of time.
"If investors buy good companies, buy them over time, they’re going to do fine 10, 20, 30 years from now. It’s a long-term game, and one of the best things you can do for your investments is leave them alone.” - Warren Buffett
Read, didn’t always hit home runs either, His portfolio included shares of Lehman Brothers Holdings, the financial firm that collapsed in 2008, for example, But he was willing to stick with his picks for many, many years. Just like in virtually every other aspect of personal finance, you shouldn’t rely on investing to “get rich quick.” It’s a long-term proposition, and one of the best things you can do for your investments is leave them alone.
“If you aren’t willing to own a stock for 10 years, don’t even think about owning it for 10 minutes.” - Warren Buffett
Enjoy your morning, Go Pack!!
- Scoot
Greater love hath no man than this, that a man lay down his life for his friends. -John 15:13
"If investors buy good companies, buy them over time, they’re going to do fine 10, 20, 30 years from now. It’s a long-term game, and one of the best things you can do for your investments is leave them alone.” - Warren Buffett
Read, didn’t always hit home runs either, His portfolio included shares of Lehman Brothers Holdings, the financial firm that collapsed in 2008, for example, But he was willing to stick with his picks for many, many years. Just like in virtually every other aspect of personal finance, you shouldn’t rely on investing to “get rich quick.” It’s a long-term proposition, and one of the best things you can do for your investments is leave them alone.
“If you aren’t willing to own a stock for 10 years, don’t even think about owning it for 10 minutes.” - Warren Buffett
Enjoy your morning, Go Pack!!
- Scoot
Greater love hath no man than this, that a man lay down his life for his friends. -John 15:13