Julie and Debbie's Guide to Getting Rich on Just $10 a Week: We're Making a Fortune, And You Can Too, Using Dividend Re-Investment Plans

Zimmerman, Julie

ISBN 10: 0440507812 / ISBN 13: 9780440507819

Edité par Dell, 1997

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In shrink wrap. Looks like an interesting title!

N° de réf. du vendeur Q-0440507812

Détails bibliographiques

• Titre: Julie and Debbie's Guide to Getting Rich on Just $10 a Week: We're Making a Fortune, And You Can Too, Using Dividend Re-Investment Plans
• Éditeur: Dell
• Date de parution: 1997
• Langue: anglais
• ISBN à 10 chiffres: 0440507812
• ISBN à 13 chiffres: 9780440507819
• Reliure: paperback
• État de l'article: New
• Poids: 8 onces

A propos de ce titre

Synopsis

Book by Zimmerman Julie

Extrait

INTRODUCTION

OR, WHAT ABOUT ANNE?

In the course of conducting seminars on the how-tos of purchasing stocks without a broker, we have discovered a number of things about our audiences.

First of all our audiences are a diverse group of people--some as young as seven, some older than dinosaurs, some yuppie types, the Generation X-ers, secretaries, file clerks, blue-collar, no-collar, investment geniuses, know-it-alls, know-nothings, a smattering of Marilyn Monroes and Paul Newmans, and a lot of Attila the Huns.

Some people are truly interested in our seminar and want to learn as much as they can, while others sit through the introduction as if they are being given a course in quantum physics.

However, all this changes when we get to the story about Anne Scheiber. Suddenly our audience is transformed: Everyone listens, the doodling stops, and time stands still. Anne's story never fails to capture everyone's imagination. So if you had any doubts about reading a book on the stock market and were unsure whether you could suffer through such a dry, technical, and boring subject, lay your fears to rest and let us tell you about Anne....

Anne Scheiber was an employee of the Internal Revenue Service in New York City for twenty-three years. She primarily audited the returns of the very wealthy. Anne was a very dedicated employee, yet she never received the accolades she so deserved, nor did she ever earn more than $4,000 a year. She attributed her lack of promotion at the IRS to her ethnicity and to the fact that she was a female.

So in 1944, at the age of fifty, she left the IRS, took her lifelong savings of $5,000, and retired to live the balance of her life in a rent-stabilized studio apartment on West Fifty-sixth Street in New York City. One thing Anne brought from her job with the IRS was the realization that a lot of money was made in the 1930s and 1940s through investments in the stock market.

Anne had a fascination with the movie studios at the time, and she took her $5,000 and invested it in entertainment stocks. She became consumed with studying the stock market. She never dated; she rarely left her apartment except to visit her stockbroker. She lived very frugally until her death in January 1995, at the age of 101.

Her investment strategies were simple. She did not worry about the day-to-day fluctuations in the stock market, nor did she have an interest in making a quick buck. Her philosophy was to choose high-quality companies that she knew, stay with those companies on a long-term basis, and most importantly reinvest the dividends. This interest in the stock market kept her entertained for the next fifty-one years.

Okay--so what about Anne?

Remember her original $5,000 investment? Even though she never added any money out of her pocket, it grew!

In fact the economists at Yeshiva University could not believe how much it grew. You see, at her death that original investment of $5,000 had grown to $22 million, which she generously donated to Yeshiva University!

Fascinating story, but you're probably thinking one of two things at this point. First of all, what if you don't have $5,000 for that initial investment? And your second thought is that Anne used a stockbroker.

You're right on both counts. But we'll show you how to overcome these obstacles so that you, too, can spend a long, productive life being entertained (and enriched!) by the stock market.