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The Swarm Lounge
General Investing and Economics Discussion - No Politics
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<blockquote data-quote="Deleted member 2897" data-source="post: 705041"><p>My grandfather was 1 of 8 kids. His Dad died early and then his mom had a nervous breakdown and they all went into a children’s/orphan’s home. He was regularly beaten. Only got through 8th grade. Got a job as a teenager on the assembly line at a cigarette plant. Borrowed money to buy 1 share of stock, because Reynolds Tobacco would match it. Nobody bought stock back then. Saved $1 a week and would then pay people back and do it again until he could save enough on his own for 1 share. Retired 35+ years later as only foreman on a line. Reynolds got bought by Nabisco for cash and he had to sell what he owned. Had a $300,000 tax bill. He also back then didn’t want to be all in on 1 investment, so he started buying Duke Power. At one point he had 50,000 shares. (!!!). 8th grade education. Even at the end they still used their 1 acre backyard as a garden where they grew most of their food (fruit trees, vegetables, etc). Their house didn’t even have a dishwasher. The Depression was many decades gone, but the memories never left him.</p><p></p><p>I think back to how people used to save money and live compared to now and it’s crazy.</p></blockquote><p></p>
[QUOTE="Deleted member 2897, post: 705041"] My grandfather was 1 of 8 kids. His Dad died early and then his mom had a nervous breakdown and they all went into a children’s/orphan’s home. He was regularly beaten. Only got through 8th grade. Got a job as a teenager on the assembly line at a cigarette plant. Borrowed money to buy 1 share of stock, because Reynolds Tobacco would match it. Nobody bought stock back then. Saved $1 a week and would then pay people back and do it again until he could save enough on his own for 1 share. Retired 35+ years later as only foreman on a line. Reynolds got bought by Nabisco for cash and he had to sell what he owned. Had a $300,000 tax bill. He also back then didn’t want to be all in on 1 investment, so he started buying Duke Power. At one point he had 50,000 shares. (!!!). 8th grade education. Even at the end they still used their 1 acre backyard as a garden where they grew most of their food (fruit trees, vegetables, etc). Their house didn’t even have a dishwasher. The Depression was many decades gone, but the memories never left him. I think back to how people used to save money and live compared to now and it’s crazy. [/QUOTE]
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