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Reply to "How did you make your millions?"
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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]30. Started investing in stocks when I was 11. True story.[/quote] Or was born into rich family that gave me money to invest while still a child. [/quote] DP: I started investing in stocks with my babysitting money when I was 11 because my Papa who was an orphan with a 4th grade education and worked as a janitor for one of the companies in the Dividend Aristocrats told me about how much money he made by putting 10% of his earnings into the company stock and he showed me how I could do the DRIP program through his work. I never was a high earner but my net worth hit over a million when I was 44, now at 50 it's 2.3 million. Mainly due to investments.[/quote] So how did you pay for college?[/quote] I’m sure granddaddy paid.[/quote] Nope--he wasn't that rich. Just richer than a typical janitor would be. My own dad worked his way through college through a tuition remission from his job (finished when I was a teen) and I got scholarships, student loans and work-study--went to a college that was less selective than my stats and got a substantial merit award. My parents contributed 2K a year and I saved up 4k/yr from work in the summer and school year (in addition to my work-study I also did weekend catering for weddings etc. at the school where the tips were pretty good for the time). My loan burden at the end was just under 18k. I didn't ever think of cashing in the DRIP stocks and always contributed 10% of whatever I earned. [/quote]
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