How an Ordinary Caretaker Amassed $8 Million with Simple Investing

Today, I want to share a story that I find incredibly inspiring—the story of a man named Ronald Read.

His life is proof that investing is how you become wealthy, and I hope his journey serves as food for thought for you, just as it has for me. I believe it has the power to change the way you think about money and investing forever.

Ronald Read didn’t work in a high-profile job, nor was he someone you would expect to be wealthy by today’s standards. He came from humble beginnings, being the first in his family to graduate from high school. After serving in World War II—stationed in North Africa, Italy, and the Pacific, according to Reuters—he returned home to work as a gas station attendant and a caretaker at JCPenney. He later married a woman with two children and continued living a simple life.

Read never led a life of luxury, nor did he spend money unnecessarily. Friends described him as someone who drove a second-hand Toyota Yaris and used safety pins to hold his coat together. Nothing about his outward lifestyle suggested wealth—until his passing in 2014, when the world discovered something remarkable.

Ronald Read had quietly amassed a fortune of £6.3 million ($8 millions).

His secret was remarkably simple: he spent less than he made and invested the rest.

He came from an era before index funds, but that didn’t stop him. Instead, Read bought and held stocks of well-known companies such as PG&E, CVS, Johnson & Johnson, Chase, GE, and Dow, keeping them for the long term. He wasn’t a professional stock picker or market guru—he simply followed a disciplined strategy of patience and consistency.

Invest consistently, and let time do the work.

Let me put this into perspective. Read was honorably discharged from the military in 1945 and lived until 2014, giving him a 69-year investing window. If he had started investing from scratch in 1945 and made regular monthly contributions into average-performing stocks in the S&P 500, he would have only needed to invest less than £45 per month to reach his £6.3 million fortune.

So, if Ronald Read could achieve financial success on a caretaker’s salary, ask yourself what’s stopping you?

If you’re unsure where to begin, take a look at a post I wrote last October that outlines the first steps to getting started with investing. Let Ronald’s story inspire you to take action —your future self will thank you.