Ordinary Joes That Became Wealthy Joes!

abundance prosperity wealth

If you’re just getting started in investing, you may not have a great deal of money to begin with.  Don’t let that discourage you.

I know it may be hard to believe now, but it is possible for an average person with an average income to build tremendous wealth.

Here are some real life examples that may provide you with some inspiration:

1. Gladys Holm was a secretary who earned $15,000 a year.  She did two things, however, that are are critical in life to build wealth: she paid attention to what her successful boss was doing, and she emulated it, buying the same stocks he did.  When she passed away in 1996, she left $18,000,000 for research.

2. Sylvia Bloom was another secretary who was smart enough to make investments right alongside her boss.  When she passed away, she left an $8,000,000 fortune.

3. Monsignor James Sweeney was a priest that made a poverty level income for many years and invested in stocks in his spare time. He was worth close to a million dollars when he died.

4. Genesis Morlacci was a part-time janitor and dry cleaner.  He left $2.3 million to Montana’s University of Great Falls at the age of 102.

5. Thomas Drey Jr. was a retired teacher who spent a lot of his time at the Boston Public Library researching companies to invest in.  When he died, he left the library $6.8 million.

6. Jay Jensen was another retired teacher that lived below his means and invested in blue chip stocks for 40 years. His highest yearly salary was $47,000 per year, but he was able to amass a fortune of several million dollars, which he gave to charity.

These are real examples of ordinary people that built extraordinary wealth by doing the following things:

1. Living below their means

2. Investing consistently

3. Staying out of debt

4. Buying stocks of great companies and holding them for the long term

I hope that as many of us as possible end up like these people!

 

My book, The Stock Market is For Everyone, is a short guide for the beginning, inexperienced investor that is easy to understand and can be put into action immediately.

Click the image of the book at left to be taken to its Amazon page.  (Disclosure: As a participant in the Amazon Services LLC Associates Program, I earn a small commission on each sale generated through these links.)

 

 

 

 

 

 

 

 

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Should I Buy Marijuana Stocks?

Marijuana stocks have been on fire lately!

Three in particular – Canopy Growth (NYSE: CGC), Cronos (NASDAQ: CRON), and Tilray (NASDAQ: TLRY).

I was recently asked by someone if I thought they should invest in marijuana stocks.  My initial answer to that question is “With extreme caution and the ability to stomach volatility.”

The legal cannabis industry is expected to grow from $10 billion in 2017 to $24.5 billion by 2021.

At the moment, Canopy Growth is the clear cut leader.  They are the largest medicinal grower of cannabis in the world, with a market cap of $11 billion.  Constellation Brands (NYSE: STZ), one of the largest alcoholic beverage companies in the world, has invested $4 billion to acquire a 35% stake in the company.

Canopy Growth has a huge medicinal business.   They have aspirations to become a global brand.

It is very early in the game; each of these three companies maybe considerably overvalued.  We may even be in a cannabis bubble.

That doesn’t mean that these stocks won’t go higher, though!

I don’t presently own any cannabis stocks.  If I had to buy one, it would be Canopy Growth.  They are the leader of the pack, and they have the backing of a $35 billion  company like Constellation Brands.

Until tomorrow, everyone!

 

My book, The Stock Market is For Everyone, is a short guide for the beginning, inexperienced investor that is easy to understand and can be put into action immediately.

Click the image of the book at left to be taken to its Amazon page.  (Disclosure: As a participant in the Amazon Services LLC Associates Program, I earn a small commission on each sale generated through these links.)