Secretary Builds $9 Million Fortune By Copying Her Boss's Investments!
A secretary from the US who grew up during the Great Depression has amassed a secret fortune by copying her boss's investments
Sylvia Bloom, a secretary who grew up during the Great Depression in the US had amassed a $9 million dollar fortune. Nobody knew about her fortune, which was only revealed after her death in 2016. What's more amazing is that she did it by copying her boss's investments!
Secretary copies investments of boss
Growing up during the Great Depression, Sylvia's life wasn't easy. She had to work hard during the day in order to make ends meet. She also had to study at night so she could finish her degree.
Eventually, she graduated and found a job as a legal secretary in the law firm Cleary Gottlieb Steen & Hamilton.
Jane Lockshin, her niece, shares, "She was a secretary in an era when they ran their boss’ lives, including their personal investments, so when the boss would buy a stock, she would make the purchase for him, and then buy the same stock for herself, but in a smaller amount because she was on a secretary’s salary."
Through her diligent efforts, she managed to save up over $9 million worth of investments through the years!
She decided to donate most of it to students
Sylvia retired when she was 96, and agreed to move to a senior residence. Sadly, she died soon after, back in 2016.
But before she passed, she made sure to donate most of what she earned to needy students.
$6.24 million from her estate will be donated to Henry Street Settlement, while $2 million will be shared between Hunter College and another scholarship fund.
Her niece added that her late husband, who was a New York firefighter, might not have been aware of his wife's fortune.
“She was a child of the Depression and she knew what it was like not to have money,” said Paul Hyams, an HR executive at the law firm where Bloom worked. “She had great empathy for other people who were needy and wanted everybody to have a fair shake.”
It's truly amazing how being diligent and smart with your money can pay off later on. What's even more amazing is the fact that Sylvia decided to donate most of what she earned!
Whose investments would you copy, given the chance?
Read more articles:
Investing For Newbies: 3 Investments For The Risk-Averse And How To Get Started
Investing In Gold For Beginners: Why Gold Is Good For Newbies
