100-year-old man saves 100 million USD, how to live like a poor person all his life?

Netizens were excited by the story of a 100-year-old man who lived like a poor man all his life and now saved 100 million USD. Being thrifty will surprise everyone who hears it.

Bill Stoval is one of the people with the longest life expectancy in America. This year, this old man turned 100 years old. In his late years, Mr. Bill was still very healthy and alert. His health is the dream of many elderly people in the country. Besides, the amount of assets that Mr. Bill owns is also something that makes many people admire.

At the age of 100, the value of Bill's assets is 100 million USD (2,447 billion VND) including cash and real estate.

Sharing about how he acquired this fortune, Mr. Bill said: "I have lived my whole life as a poor person." Below are Mr. Bill's detailed shares about what he did to get this fortune.

Mr. Bill said he would not have been able to have $100 million without the help of his late wife Martha. Mrs. Martha passed away at the end of 2022, but according to Mr. Bill, Mrs. Martha spent almost her entire life building her current fortune with her husband.

When he was young, Bill only worked for a company specializing in steel production. The highest salary that Bill received was 44,000 USD/month after being promoted to Production Manager at the age of 40.

"We have 4 children, including a set of twins. Taking care of and raising 4 children is not a simple task, it requires a lot of time and energy, so Martha quit her job. We are always aware The importance of living frugally when there are 4 people in a family but only 1 fixed source of income" - Mr. Bill shared.

Mr. Bill always gave all his salary to Martha and said he had almost no shopping needs. "In my whole life, I have never bought clothes by myself. I don't have that need and probably neither does my wife. In 1 month, in addition to money to buy daily food and tuition for 4 children, we almost like not spending anything else" - Mr. Bill said and affirmed the importance of husband and wife having the same desire to save.

In 1957, Bill bought a farm in Atlanta (USA) and built a house for the whole family to live in. Before that, Bill's family had to rent a house. The total cost for this investment is about 16,000 USD.

Because they always strive to save as much as possible and spend as little as possible, Mr. Bill and his wife absolutely do not have to borrow money to buy land or build a house.

A decade later, in 1967, when the steel company moved its headquarters, Bill decided to sell his farm in Atlanta for $22,000. 6000 USD is the profit from the sale of this property. After selling the farm in Atlanta, Mr. Bill's family of six members decided to live in the apartment provided by the company to minimize costs.

After this real estate transfer, Mr. Bill realized the profit potential of real estate trading and started to "save money" with his wife to buy land/house. Before the real estate market went down, 305,000 USD was the lowest profit Bill and his wife received from buying and selling real estate.

Mr. Bill and his wife maintained real estate trading as a side job for more than 20 years and decided to end this job in 2005 because at that time, the real estate market had many unpredictable fluctuations.

Nearly a decade ago, Mr. Bill received an inheritance worth several million dollars. After paying inheritance tax, Mr. Bill deposited all the remaining money into a savings account. When he was investing in real estate, Bill and his wife saved all of the profits from their investments to maintain reinvestment cash flow and at the same time took advantage of compound interest to make their money more profitable. "I always feel like there is no reasonable reason for me to spend money" - Mr. Bill shared.

Currently, even though he is old and has a lot of money in hand, Mr. Bill is still trying to live frugally every day. Mr. Bill believes that when he was young, he saved to raise his children and family; When he is old, having assets to leave for his children and grandchildren is Mr. Bill's motivation to save. Currently, in addition to the cost of buying food, Mr. Bill only spends money on monthly health check-ups.

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