View Single Post
Old 06-07-2018, 01:11 PM   #32
snootchiebootchies
Powerplay Quarterback
 
Join Date: Jun 2009
Exp:
Default

Interesting story about this lady.

Life is More than Compounding Money

https://intelligentfanatics.com/life...nding-money-2/

Quote:
On January 9, 1995, 101 year-old Anne Scheiber left a $22 million fortune to Yeshiva University’s Stern College for Women. The school had never heard of Anne Scheiber before. Virtually nobody had heard of Scheiber before.

But her story got people’s attention. It continues to draw attention, for the wrong reason.

Scheiber wasn’t born rich. Nor was she a savvy entrepreneur. She had retired in 1944 after a 23-year career as an auditor for the Internal Revenue Service.

It was in the stock market Anne Scheiber gained her wealth. She lived significantly below her means, bought and held. She compounded her money. Headlines read how she turned $5,000 upon her retirement into a $22 million portfolio 51 years later. A 17.8% compounded annual return for five decades is truly head turning.

...

Anne Scheiber was a successful investor. She possessed textbook frugality, austerity, and rationality. She benefited from living a long life, amassed a fortune and gave it away.

But this all came at a cost.

Anne Scheiber was a recluse. She didn’t have a family, nor did she try to form meaningful relationships with those around her. This stemmed from a deep distrust of others. Her attorney Benjamin Clark and financial broker William Fay were her only acquaintances.
snootchiebootchies is offline   Reply With Quote