Meet the $9,000,000 Secretary
Time for a thread πππ
Time for a thread πππ
Slyvia Bloom was a legal secretary for the same New York City law firm for 67yrs.
Every day while she headed to work, you'd find her on the subway.
She didn't live in a fancy New York apartment (though she could have).
She lived in a modest rent-controlled apartment instead.
Every day while she headed to work, you'd find her on the subway.
She didn't live in a fancy New York apartment (though she could have).
She lived in a modest rent-controlled apartment instead.
Ms. Bloom was raised in Brooklyn. She lived in Brooklyn her whole life.
She was a first-generation American of parents who immigrated from Eastern Europe.
She got married to Raymond Margolies, who was a firefighter and later a city schoolteacher.
She was a first-generation American of parents who immigrated from Eastern Europe.
She got married to Raymond Margolies, who was a firefighter and later a city schoolteacher.
She insisted on taking the subway to work every day, never wanting to spend money on cabs.
This was even the case on the morning of September 11, 2001.
Even after the attack, she took the bus, not a cab, when she was seeking refuge away from the city.
This was even the case on the morning of September 11, 2001.
Even after the attack, she took the bus, not a cab, when she was seeking refuge away from the city.
Sylvia Bloom wasn't extravagant. She didn't splurge on big purchases. She and her husband lived a modest life.
The only luxury Ms. Bloom allowed for herself was some nice chocolate every so often.
She didn't even retire from the law firm until age 96.
The only luxury Ms. Bloom allowed for herself was some nice chocolate every so often.
She didn't even retire from the law firm until age 96.
So when Ms. Bloom died in 2016, everyone who knew her was absolutely shocked to find out she had amassed over $9 Million Dollars.
They never would have guessed she had so much money.
How did she do that? Why did she do that?
They never would have guessed she had so much money.
How did she do that? Why did she do that?
Sylvia Bloom was a child of the Depression. So she knew what it was like to truly have no money.
That instilled in her an ethic to save and invest like most people never do.
It also gave her great empathy for people who didn't have money or who were going through tough times.
That instilled in her an ethic to save and invest like most people never do.
It also gave her great empathy for people who didn't have money or who were going through tough times.
During the era in which Ms. Bloom lived, legal secretaries basically ran most of their boss's lives.
So when her boss at the legal firm wanted to invest his money, she would do it for him.
And every time she did that, she invested her own money in the same thing.
So when her boss at the legal firm wanted to invest his money, she would do it for him.
And every time she did that, she invested her own money in the same thing.
Given her childhood, she never wanted to be without money again, and she wanted to help others.
She learned about investing and kept investing as much money as she could every time her boss did.
She did this for the entire 67 years she worked for the law firm.
She learned about investing and kept investing as much money as she could every time her boss did.
She did this for the entire 67 years she worked for the law firm.
When Sylvia Bloom died in 2016, it was discovered she was worth over $9,000,000.
All her years of investing had blossomed into an amazing estate of over $9M spread across 3 brokerages and 11 banks.
All her years of investing had blossomed into an amazing estate of over $9M spread across 3 brokerages and 11 banks.
So what was to be of this $9M fortune upon her death?
Her husband Raymond had died 14 years earlier, and they had no children.
What happened next shocked everyone again.
Her husband Raymond had died 14 years earlier, and they had no children.
What happened next shocked everyone again.
Sylvia Bloom had specified in her will that $6.24 million of her estate be donated to the Henry Street Settlement, a non-profit that provide social services and programs to people in need on the Lower East Side.
It was the single largest donation they have ever received.
It was the single largest donation they have ever received.
An additional $2M was split between Hunter College and another scholarship fund to help students in need.
The remaining amount went to some remaining family and friends.
The remaining amount went to some remaining family and friends.
Sylvia Bloom spent her life having less so that she could amass a huge fortune so others could have more.
Ms. Bloom truly believed in helping other people and made it one of her life's missions to do so.
Ms. Bloom truly believed in helping other people and made it one of her life's missions to do so.
So why should you care about this woman's story?
She didn't really get to enjoy her fortune, you might think.
Why would you build up so much money, never enjoy it yourself, and then just give it away?
What's the point?
She didn't really get to enjoy her fortune, you might think.
Why would you build up so much money, never enjoy it yourself, and then just give it away?
What's the point?
The lesson is that money isn't everything.
Some people are happy living a modest life and don't want anything more.
The lesson is also that anyone can become incredibly wealthy and leave a legacy of kindness behind.
If a secretary in New York can do it, then so can you.
Some people are happy living a modest life and don't want anything more.
The lesson is also that anyone can become incredibly wealthy and leave a legacy of kindness behind.
If a secretary in New York can do it, then so can you.
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