You’ve heard the stories before—millionaires who struck gold with big businesses, lucky breaks, or high-powered jobs.
This isn’t one of those stories.
Ronald Reed didn’t come from wealth. He didn’t win the lottery. He didn’t climb corporate ladders.
Instead, he spent his life as a gas station mechanic and part-time janitor.
What makes his story remarkable is how he quietly built a fortune worth $8 million—not through privilege, but through patience, discipline, and humility.
Ronald’s journey proves that wealth isn’t about what you earn. It’s about how you think.
Humble Beginnings
Born in 1921, in a small Vermont farming town, Ronald Reed’s early life was anything but glamorous.
His family had little money, and every day was a lesson in grit and resilience.
Ronald walked four miles to school each day, rain or shine.
Graduating high school in 1940, he achieved a milestone no one in his family had before.
It was just the beginning of a life shaped by perseverance and determination.
Serving His Country
After high school, Ronald joined the U.S. Army during World War II.
He served with honor and returned home to Vermont to start his civilian life.
For decades, he worked as a gas station mechanic, earning an honest living.
Even after retirement, Ronald didn’t slow down. He took a part-time job as a janitor at J.C. Penney.
His career wasn’t flashy, but Ronald’s approach to life was extraordinary.
Living Simply, Saving Wisely
Ronald lived as modestly as they come.
- He wore old, worn-out clothes.
- He drove a small Toyota Yaris.
- He lived in a simple, unassuming home.
Once, while eating at a diner, someone thought he was homeless and paid for his meal.
What they didn’t know? Ronald was quietly building an $8 million fortune.
Self-Taught Investor
Ronald wasn’t a financial expert.
He didn’t have a college degree or formal training in investing.
Instead, he taught himself by reading newspapers like The Wall Street Journal and Barron’s.
In his 30s, he started investing with a simple strategy: buy and hold.
Ronald focused on companies that paid dividends, trusting in their long-term potential.
He wasn’t swayed by market panic or short-term trends.
His mantra? Stay steady, stay patient.
The Power of Patience
For decades, Ronald invested in solid companies like Procter & Gamble, Wells Fargo, and General Electric.
He didn’t sell during recessions or market dips. He stayed calm and trusted his strategy.
By the time he passed away in 2014 at the age of 92, Ronald’s investments had grown to $8 million.
His stocks generated $20,000 a month in dividends—that’s $240,000 a year, purely from his investments.
A Legacy of Giving
Even as a millionaire, Ronald chose simplicity over extravagance.
When he passed, most of his fortune went to local charities, a hospital, and a library in his hometown.
For Ronald, wealth wasn’t about luxury—it was about impact.
Lessons from Ronald Reed
Ronald’s life is proof that wealth doesn’t require privilege or a high-powered job.
Here’s what we can learn:
- Start Small, Think Big
Consistent small investments can lead to incredible results over time. - Live Simply
Avoid unnecessary spending and focus on what truly matters. - Be Patient
Wealth grows with time. Don’t let short-term fears derail long-term goals. - Invest in What You Understand
Ronald only invested in companies he knew and trusted. - Give Back
True wealth lies in helping others and leaving a legacy of kindness.
Final Thoughts
Ronald Reed didn’t have a fancy job or a privileged background.
But through patience, discipline, and a simple investment strategy, he built a fortune—and a legacy.
His story is a powerful reminder:
Wealth isn’t about where you start. It’s about the choices you make along the way.
This post was inspired by Dividend Compounders with Cheese video -The Story of Ron Read.
