A native of South India, Acharya Chanakya was a Minister at the local court of the Nanda Dynasty. During his tenure, he played a key role of a strategist, an administrator, an economist, and a shrewd politician. He did whatever he could do to strengthen the whole kingdom. But rarely he was found in agreement with the dynasty’s ruler, Dhana Nanda.
Guys, let me share a success story of a woman who made millions by staying patient and calm in a stock market.
Her exceptional investing journey is a lesson for all investors who get panicked by the ups and downs of stock markets and reap the profits/losses by thinking short-term. She is a true example of buy and hold strategy. During her investing career, she hardly sold her holdings. One can learn from her the buy-and-hold strategy.
Let’s read her story.
Anne Scheiber, born in 1893, was an auditor in IRS and made not more than $4000 a year. Being a Jewish as well as a woman, she hardly got any promotion in her career and retired with a corpus of $5000 and an annual pension of around $3100 per year.
With a frugal lifestyle and high savings, she started her journey with a buy-and-hold strategy. As she had an ample amount of time in her retirement phase, she picked up some marvelous dividend paying companies(Coca Cola, Abbott, Pfizer etc) during the course of time.
Anne Scheiber Portfolio
At the time of her death, at the age of 101, her portfolio valuation was around $22 Million.
The biggest secret behind her success was the time she gave her investments to grow and patience to hold on. She never interrupted the process of compounding and let her portfolio grow by giving it a huge time period of 50 years.
What can you learn from Anne Scheiber?
All we can learn from her is – Being Patient. Just buy good companies and hold them forever. Never interrupt the cycle of compounding. You’ll reap the benefits of compounding.
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Yes, my friend, you heard that right. You can earn crores too. That too with just 10% of your salary. I’ll show you how Veeru, by saving just 10% of his salary, will accumulate a huge amount of Rs.1.14 Crore. Let me take you on a life journey of Jai & Veeru.
Jai, who has just stepped into a corporate job directly from college, starts earning a handsome salary of Rs.25000 per month. He keeps on buying unwanted materialistic stuff, parties in 5-star discotheques to impress his female partners, spends way more than his monthly income and continues to be in debt without saving even a single penny. Being unaware of the fact that life is uncertain, he keeps on maintaining his lavish lifestyle. He doesn’t even bother about building an Emergency Fund and thus makes his life miserable.
Well, talking about retirement is still a taboo among youngsters. The moment they come across the word “Retirement”, they start reacting weirdly as if they have been asked to submit their property papers. For them, imagining about retirement is boredom. They perceive retirement planning as the most tiring part of their life.
One fine evening, while on my way back home, I was having a casual conversation with my workmate about our financial conditions.