Unique Story Of A Job Person !

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10 Mar 2024

Many people think that a person doing a job can never be successful but this story is about a job person who along with doing a job became a millionaire by investing in the share market. This story will tell you that on the job How can one become successful by investing in the stock market while living?

Such a story of share market, by reading which you too can become a successful investor. This story tells about an ordinary person who lived his entire life like a common man, that too in anonymity whom no one knew, but when that person died, the whole town was talking about him.

This story is based on a true incident and is based on a man who made himself a millionaire by investing in the share market. This story is also important for those who want to achieve success in the stock market.

You must have heard one thing about the share market that it is a well that can quench the thirst of every person, let us know how this happens.

So Let's Start The Story -

Ronald James Reed was an American philanthropist, investor, and gas station attendant.

Ronald Reed was born in rural Vermont. He was the first member of his family to graduate from high school. This is all the more impressive because he used to take lifts from other people on the way to campus every day.
Richard Fuscone was everything Ronald Reed was not. This Harvard-educated Merrill Lynch executive had an MBA, and achieved so much success in the finance business that he retired at the age of forty to become a philanthropist.
Former Merrill CEO David Komansky praised Fuscon's "business acumen, leadership abilities, sound valuations and personal integrity." Crain's Business magazine once included him in its "Forty Under Forty" list of successful businessmen.

But then, just like a tech executive tossing a gold coin, everything fell apart.

In the early 2000s, Fuscone took out a large loan to expand an 18,000-square-foot home in Greenwich, Connecticut. The house had 11 bathrooms, two elevators, two swimming pools and 7 garages, and the monthly maintenance cost of this house was more than $90,000.

Then the financial crisis of 2008 struck.

This crisis really hurt everyone's economic condition. This directly put Fuscon in the ground. Excessive debts and illiquid assets left him bankrupt. "I have no income right now", he reportedly told a bankruptcy judge in 2008.

First his Palm Beach house was taken into possession. In 2014 it was the turn of Greenwich Mansion.

Five months before donating his property, Richard Fuscon's home—where guests "remembered the thrill of dining and dancing on a patio with a view over the indoor swimming pool"—was sold to him by an insurance company at a cost estimated at $75 million. % was auctioned for less amount.

Ronald Reed was patient, and Richard Fuscone was greedy. And this was enough to make up for the huge difference in education and experience between the two.

The lesson here isn't to be more like Ronald or less like Richard – although that's not bad advice either.
The interesting thing about these stories is how unique they are in relation to finance. What other industry is there in which a person without a college degree, training, background, formal experience, and contacts can outperform someone who has the best education, training, and connections?

I can't think of any other industry like it.

It is simply impossible to imagine a story where Ronald Reed could perform a heart transplant better than any Harvard-trained surgeon. Or better trained architects could build better skyscrapers. There will never be a story where a janitor can defeat any of the world's renowned nuclear engineers.

But such stories happen in the field of investment.

Lesson

The most important thing to learn from this story is that any person can become successful by investing in the share market, he too can become a millionaire by saving and investing in the share market like Ronald Reed.

The second thing which is most important is that if you have money, you have become successful then invest your money in the right place, as told in the Rich Dad Poor Dad book, you should buy assets and not liabilities.

Those who are afraid of the share market, they should also know that investing in the share market does not require any degree or any special profession, even if you invest continuously, you will be like Ronald Reed. Can be successful.