Secretaries in the 1950’s - Millionaires. Me (a lawyer) today -Cannot pay off $100,000 in student loans
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I'm guessing she lived frugally, saved religiously, and invested wisely. Not many people do that anymore.
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She lived in a rent controlled apt - you’re right, not many people can pay 1950s rents for NYC apts. that and her husbands 3 jobs (and public pensions) probably went a long way.
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That generation was very good at saving and living more simply. Rent control was definitely a bonus though!
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That generation also was not being charged 7-14% interest or more by the government on student loans with the cost of education at what it is now
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Yes! She went to Hunter College for FREE. And the largest budget item for anyone is housing - her rent controlled apt. probably cost her $250-500/month vs. $2K. This is not just about saving. This generation is 6 figures behind where she started.
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I hear what you are saying.
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Of course this is great..... But did she enjoy her money herself? If not, then it's kind of sad.
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I'm sure she lived well, at least well for her. Not everyone who's a millionaire spends the money.
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Well, that's what I'm getting at.... some folks are just savers and live like paupers. Everyone is extolling the virtue of the gift but I wonder if she lived? I'm not talking about weekend jaunts to Paris but enjoying some perks of the money.
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I always ask myself the same question when i see these stories. Admirative of the hoid they did, but wonder if they got to enjoy their lives.
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What a beautiful soul. We need more stories like this remind us there are still wonderful people doing unselfish things without expectations.
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Such a generous spirit. The best of humanity.
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Here's another quiet old lady with a big heart https://en.wikipedia.org/wiki/Oseola_McCarty …
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“Compound interest is the eighth wonder of the world. He who understands it, earns it … he who doesn't … pays it.” - Albert Einstein
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wow that's almost enough for some one to go to college debt free
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Yeah according to this article she lived in a rent controlled apartment. Well no shit she amassed an 8 figure fortune. Paying 5% of market value for an apartment in NYC for 70 years will do that for ya!
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This is a genuine human being.
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