Route To An $8 Million Portfolio Started With Frugal Living - WSJ

Ronald Read may have spent years pumping gas, but he was even more adept at pumping up his portfolio.

Mr. Read, a longtime resident of Brattleboro, Vt., died in June at the age of 92. His friends were shocked when they learned his estate was valued at almost $8 million. Long widowed and with two stepchildren, he left most of his money to a local hospital and library.

So how did he manage to pull it off? Besides being a good stock picker, he displayed remarkable frugality and patience—which gave him many years of compounded growth.

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http://www.wsj.com/articles/route-to-an-8-million-portfolio-started-with-frugal-living-1426780320




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