Edward Daken amassed quite a fortune through hard work, frugal living and wise investing. However, unlike other surprise millionaires, Mr. Daken amassed his wealth for the express purpose of leaving it to worthwhile causes. It seems that years ago Mr. Daken read a story about another gentleman who amassed wealth through frugality leaving his wealth to a local school district. Mr. Daken must have thought, “if he can do it, so can I”. And then … he DID!
“The couple led a frugal life. Richard worked every Saturday, and they ate out only once a week..”
I thought it might be a good time to take a pause in our Surprise Millionaire journey to address some of the skepticism voiced by some readers regarding their ability to become Surprise Millionaires in their own right. These folks tend to point out the same recurring themes regarding the average Surprise Millionaires profiled in my blog. These objections can be lumped in to the following three statements which I will address below:
These Surprise Millionaire types find it easy to accumulate wealth because they are not currently married or never married.
False: If you check out this blog or my book you will find that many of our Surprise Millionaires are married and have been married throughout their adult lives. However, I believe there could be an argument made that the Surprise Millionaire’s spouse needs to be on board with the wealth accumulation journey and be of a “like mind” when it comes to spending and saving.
These Surprise Millionaire types find it easy to accumulate wealth because they do not have children.
False: Many of the Surprise Millionaires profiled do have children. Rather than seeing their children as an impediment to reaching their financial goals, the Surprise Millionaire takes it upon his/herself to teach their children the art of saving, living frugally and investing. Thus they perpetuate the Surprise Millionaire mindset for another generation.
These Surprise Millionaire types find it easy to accumulate wealth because they live in rural/less expensive parts of the country.
False: I have profiled Surprise Millionaires from all walks of life. From the largest city to the smallest town. From the North, South, East and the West. Regardless of where they are planted, the Surprise Millionaire never fails to bloom. The concepts of saving, living frugally and investing are just as valid from one coast to the next.
So, what is the take away from this little question and answer session? I believe it is that our Surprise Millionaires are just as diverse as the general population. What draws them together is the simple concepts of living below your means, frugality and most importantly saving and investing. Like I have been saying from the start “anyone can accumulate wealth “!
Ruth Greiner was a hard working Virginia court stenographer who spent a lifetime working in and around the legal system. Though she was the widow and also the daughter of local attorneys, Ruth was no lady of leisure. In fact, she was so hard working and frugal that she didn’t even own an electric clothes dryer! Surely, someone who did without many of the basic necessities of life would not have the financial backing to make a difference in others lives … or could she?
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