I love this chart that Anna Vital made that is going viral across the United States. If anything, though, it’s incomplete because it ignores so many people who didn’t start becoming successful in a business endeavor until their 40s, 50s, 60s, and so on.
This list doesn’t even include Sam Walton, who was running a five-and-dime Benjamin Franklin store and then learned that his landlord was going to charge him extortionist rent in an effort to get him off the land. If Sam Walton didn’t encounter a greedy son-of-a-gun landlord that had his eye on Walton’s franchised business, he might have spent the rest of his life owning a dozen or so small stores before calling it a life and hanging it up (as an aside: this alternative would have been no grave hardship. Adjusted for inflation, he could have easily been bringing in $2-$4 million in annual profits if … Read the rest of this article!
There is a reader of this website who purchased shares of Altria stock in 2009 when the rest of the world was falling apart during the Great Recession. I have often mentioned on this website that it only requires a small handful of decision, technically only one, to gradually replace the income that you earn from your labor with income that you earn from a passive source such as ownership in a great business.
Altria was always an interesting business because it typically traded at a low valuation due to the stigma around owning tobacco stocks as well as the existential question of whether its core business model would be effectively regulated out of existence. The 2008-2009 time period added a few additional elements weighing upon valuation, including the spinoff of Philip Morris International and Kraft such that Altria became a standalone domestic manufacturer of tobacco at precisely the same … Read the rest of this article!