{"id":645,"date":"2024-05-23T10:36:14","date_gmt":"2024-05-23T10:36:14","guid":{"rendered":"https:\/\/www.naikwealth.in\/blog\/?p=645"},"modified":"2024-05-23T10:37:01","modified_gmt":"2024-05-23T10:37:01","slug":"story-of-a-sweeper-who-became-a-millionaire","status":"publish","type":"post","link":"https:\/\/www.naikwealth.in\/blog\/story-of-a-sweeper-who-became-a-millionaire\/","title":{"rendered":"A true story of a sweeper who became a millionaire!"},"content":{"rendered":"\n<p>What if I tell you that Ronald James Read, a petrol pump attendant and a sweeper, died a millionaire?<\/p>\n\n\n\n<p>Yes, a millionaire!<\/p>\n\n\n\n<p>Shocking, right?<\/p>\n\n\n\n<p>I was shocked, too.<\/p>\n\n\n\n<p><strong>I mean\u2026<\/strong><\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>How is that possible?<\/li>\n\n\n\n<li>How can a sweeper die a millionaire?<\/li>\n\n\n\n<li>How could he save and invest so much?<\/li>\n\n\n\n<li>Did he win the lottery?<\/li>\n\n\n\n<li>What did he do?<\/li>\n<\/ul>\n\n\n\n<p>\u2026 were the thoughts running across my mind.<\/p>\n\n\n\n<p>I was about to ignore the story as hogwash until I decided to dig a little deeper.<\/p>\n\n\n\n<p>Ronald James Read fixed cars at the petrol pump for 25 years and swept floors at JCPenney for 17 years. He bought a humble two-bedroom house for 12,000 dollars at age 38 and stayed in it for the rest of his life.<\/p>\n\n\n\n<p>He died in 2014 at 92, when the international world was awakened to his over 8-million-dollar net worth.<\/p>\n\n\n\n<p>Yes, 8 million dollars for an individual who was a petrol pump attendant and a sweeper.<\/p>\n\n\n\n<p>When I read the story for the first time, I was baffled and curious to know what he did.<\/p>\n\n\n\n<p>If a sweeper could be a millionaire, then why not me? Was the question that kept coming up.<\/p>\n\n\n\n<p>But to my surprise, he just kept things simple.<\/p>\n\n\n\n<p>Ronald James Read invested whatever little amount he could in good-quality stocks and lived frugally. He did this consistently for over 59 years! He allowed compounding to work, which helped him become a millionaire over time.<\/p>\n\n\n\n<p>This got me thinking. I realised that although I cannot pick stocks like Ronald James Read if I start a SIP of \u20b91,00,000 at an interest rate of 10% p.a. for 20 years and stay invested irrespective of market volatility, I\u2019ll end up making \u20b97.18 Crores.<\/p>\n\n\n\n<p>If I stay invested for 25 years, I\u2019ll accumulate \u20b913.26 Crores.<\/p>\n\n\n\n<p>And if I start early and stay invested for 30 years, I\u2019ll make \u20b922.60 Crore.<\/p>\n\n\n\n<p>Ronald James Read gave me hope that even an average Indian like me can be wealthy! All I needed to do was invest regularly and stay invested for a long period.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>What if I tell you that Ronald James Read, a petrol pump attendant and a sweeper, died a millionaire? Yes, a millionaire! Shocking, right? I was shocked, too. I mean\u2026 \u2026 were the thoughts running across my mind. I was about to ignore the story as hogwash until I decided to dig a little deeper&#8230;.<\/p>\n","protected":false},"author":4,"featured_media":454,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_kad_post_transparent":"","_kad_post_title":"","_kad_post_layout":"","_kad_post_sidebar_id":"","_kad_post_content_style":"","_kad_post_vertical_padding":"","_kad_post_feature":"","_kad_post_feature_position":"","_kad_post_header":false,"_kad_post_footer":false,"footnotes":""},"categories":[3],"tags":[],"class_list":["post-645","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-personal-finance"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v25.5 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>A true story of a sweeper who became a millionaire! - AD Naik Wealth<\/title>\n<meta name=\"description\" content=\"The inspiring story of Ronald James Read, a former petrol pump attendant and sweeper who amassed a fortune of over 8 million dollars through simple investing and frugal living.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.naikwealth.in\/blog\/story-of-a-sweeper-who-became-a-millionaire\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"A true story of a sweeper who became a millionaire! 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