Go to the list of all blogs
Sergey Savastiouk's Avatar
published in Blogs
Feb 17, 2021

How a Secretary from Brooklyn Became a Multi-Millionaire

When Sylvia Bloom retired at age 96 in New York, she was worth about $9 million. But it wasn’t because she was a dealmaker on Wall Street or a real estate tycoon in Manhattan. Quite the opposite in fact – Mrs. Bloom was a secretary at a law firm for 67 years.

When Mrs. Bloom passed away in 2016, friends and relatives were in shock to discover how much she was actually worth. But maybe they shouldn’t have been – Mrs. Bloom rarely missed a day of work in 67 years, she and her husband lived their whole lives in a rent-controlled apartment in Brooklyn, and she always insisted on walking or taking the subway. There was even an instance when a colleague saw Mrs. Bloom, at 96 years old, walking out of the subway during a snowstorm to go to work. When he asked her what she was doing there, she responded, “Why? What else should I be doing?”

A fierce work ethic and a modest approach to living helped Mrs. Bloom become a disciplined saver, but her fortune was also tied to smart investment decisions. In the old days, secretaries were also de facto traders for their bosses, placing orders to buy and sell stocks on their bosses’ behalf. Mrs. Bloom’s formula for success was simple: any time her bosses bought a stock, she would buy some too (though a smaller amount, given her modest salary). This practice went on for years, with Mrs. Bloom investing incrementally – and consistently – over time.

The final step in Mrs. Bloom’s path to wealth was something she had a lot of: time. Given that she worked for 67 years and lived to be 96, she had the benefit of time and compounding returns. Little by little, year by year, she amassed a fortune.

It will probably come as no surprise to learn that in her will, Mrs. Bloom left almost all of her money to go toward scholarships for students in need. She directed the money to a charitable foundation known as the Henry Street Settlement, which serves more than 60,000 people and provides an array of social services such as education support, health care programs, and transitional housing. Mrs. Bloom’s money in particular is set to endow the Expanded Horizons College Success Program, which helps disadvantaged students prepare for and complete college.

Mrs. Bloom’s story is an admirable one. A story of hard work, modesty, humility, and care for the community. But it’s also a story of how a person with even a modest income can become a multimillionaire, if he or she establishes a saving and investment discipline that lasts a lifetime.

Ad is loading...
In July, Apple (NASDAQ: AAPL) made history as the first company to close regular-session trading with a market capitalization exceeding $3.5 trillion. Despite early session declines, Apple stock reached an all-time high of $229.40 and closed at $228.68.
Swing trading involves holding positions for several days to weeks to capture gains from market movements that unfold over a medium-term horizon. This strategy relies on technical analysis to identify potential entry and exit points, often supplemented by fundamental analysis to strengthen trade decisions.
The cleaning sector has exhibited a notable performance increase, experiencing a +4.71% rise over the past week. This performance surge reflects positive market sentiment and possibly increasing demand within the sector.
The immuno-oncology sector, comprising companies that develop advanced technologies for cancer treatment, has shown promising performance recently. This sector's innovation and critical role in advancing cancer treatments have led to a significant market response, reflected in a notable +8.04% increase in performance over the past week. Below is an analysis of the key players in this group—Corvus Pharmaceuticals (CRVS), AnaptysBio (ANAB), and iTeos Therapeutics (ITOS)—focusing on market capitalization, price movements, volume changes, and technical indicators.
U.S. stocks took a hit as tech shares dropped and the yen strengthened, leading to a 1,033-point drop in the Dow. With growing concerns over the Fed's rate policy, analysts now predict multiple rate cuts to address rising economic risks.
The technology sector remains a dynamic space for investors, with certain themes like portable devices showing substantial growth potential. Over the past week, the portable devices theme has seen an impressive performance with a +14.86% increase, highlighting the strength and resilience of companies operating within this sector. In this article, we will explore key metrics such as market capitalization, price trends, and volume growth, while also taking a closer look at the individual performances of companies within this theme, particularly focusing on Apple Inc. (AAPL), CEVA Inc. (CEVA), and Generac Holdings Inc. (GNRC).
The performance of companies in the fish-selling category has attracted significant attention recently, primarily due to the group's impressive +19.69% increase in performance over the past week. The 'fish' category, which includes companies that sell or produce fish, often overlaps with firms involved in poultry, frozen meat, and dairy products. Notable companies in this sector include Lifeway Foods, Inc. (LWAY), Sanderson Farms, Inc., and Hormel Foods Corp. (HRL). In this article, we will explore the market dynamics, price movements, and volume changes affecting this sector, with a focus on the group of tickers HRL, LWAY, BRFS, and PPC.
Two standout models are at the core of Tickeron's new bots (robots). Identifying and acting on price drops ("search for dips") and leveraging significant volatility spikes.
Tickeron has introduced advanced AI trading bots designed for day traders, utilizing Financial Learning Models (FLMs) and technical analysis to optimize strategies in high-volatility markets. These bots are engineered to capitalize on price surges and provide precise, short-term trading opportunities.
The railroads sector has recently demonstrated impressive performance, with a notable +19.69% increase in performance over the past week. This surge underlines the sector's critical role in freight and passenger transportation across North America, providing essential infrastructure for both national and international trade logistics. This article delves into the sector's key players, their market performance, and recent trends that are shaping the future of rail transport.
The uranium sector has been gaining notable attention recently, with a sharp uptick in performance. As of last week, uranium companies have seen a significant increase in performance by +10.69%. This surge brings renewed focus to uranium, a critical element used in nuclear power generation. With nuclear energy gaining traction as a cleaner alternative, companies engaged in uranium acquisition, exploration, and development are well-positioned to capitalize on this demand.
Amazon (AMZN) saw a $54B market cap increase this week, driven by a 2.74% stock price surge. Despite the short-term volatility indicated by breaking its upper Bollinger Band, the company's strong positioning in AI and cloud computing continues to attract investor interest.
The financial markets saw a mix of gains and declining volatility between September 23-27, with key indexes like SPY, QQQ, and DIA posting positive returns. Despite rising stocks, volatility measures dropped, reflecting reduced market uncertainty. This article explores market trends and highlights AI-driven trading robots designed to capitalize on opportunities while managing risk.
Tickeron's AI-powered Trend Trading bots are revolutionizing stock investing by integrating Financial Learning Models (FLMs) to help hedge fund managers and traders uncover undervalued stocks. These bots provide actionable signals, apply advanced risk management strategies, and support disciplined growth, empowering investors to navigate complex financial markets with ease.
The aluminum construction companies have experienced a significant boost, with the segment seeing a +11.13% increase in performance over the past week. This growth is largely driven by the rising demand for lightweight materials, particularly in the automotive sector, where aluminum is being widely adopted to improve fuel efficiency. The aluminum industry plays a vital role in the U.S. economy, generating approximately $71 billion annually in direct economic impact, according to The Aluminum Association.
Unlock the potential of AI-powered swing trading with robots designed to track dips in top S&P 500 stocks. Whether you're a beginner or experienced trader, these tools help manage up to $20k per position, balancing risk and reward with advanced algorithms and market insights. Discover how to maximize returns in volatile markets!
Discover Tickeron's new AI-driven trading bots designed for high-volatility markets and impulse price action. Leveraging Financial Learning Models (FLMs) and technical analysis, these bots optimize trades, offer a 70% win rate, and execute strategies for day traders focused on fast market moves.
The Diesel Companies segment has displayed a notable increase of +9.44% in performance over the past week. This uptick highlights a positive trend in the sector, encompassing companies involved in the manufacturing of diesel vehicles and the distribution of transportation fuels.