Welcome to Round 4 of our monthly Link-O-Rama tradition!
Every month, I’ll share my favorite reads from around the web. These articles will be perfect for fellow millennials seeking financial independence. Most will revolve around investing, saving money, and early retirement, however, I do reserve the right to occasionally throw in a completely random but entertaining read.
Man Buys $1,000 Stock that Grew to $2 million, and Gives it All to Wildlife
This 98 year old invested $1,000 into Walgreens stock, held it for 70 years, and then donated the resulting $2 million to wildlife. Shocking headlines aside, his story is really just a heartwarming reminder of the power of compound interest.
- $1,000 invested into Walgreens back in 1947 (about $11,000 in today’s dollars) growing to $2 million means an average annual return of 11.47%.
- Since 1947, the S&P 500 has returned 11.03%.
In other words, our generous friend didn’t have to hit the jackpot with his stock pick.
He could have bought almost any company back in 1947. When you invest in stock, hold it through the ups and downs, and live a long time, turning $1,000 into a couple million just takes a little bit of patience.
Pretty amazing, isn’t it?
Today’s investors have it even easier with the invention of index funds.
Different man saves tens of thousands of dollars, just by thinking.
Jacob from Early Retirement Extreme doesn’t blog any more, but he’s still got some classics on his site. This is one of my favorites.
Are you a cheap ass?
Fellow Minnesotan blogger, Mr. AE from ApathyEnds.com, realizes he just might be.
Personally, I’ve been avoiding performing this test on myself, purely out of fear of what I’d find.
Getting your side hustle on
Who said starting a business has to be expensive? WalletHacks.com made an inspiring list of 11 side businesses you can start for less than $100.
No surprise, many involve the internet, but don’t worry, they’ve got you technophobes covered too. In either case, opportunity is everywhere. What a time to be alive!
Surprise, surprise… Financial Advisors hate talking about fees
Grant at LifePrepCouple.com shared his interesting and somewhat disturbing experience calling out some Financial Advisors on their ridiculous fees. Their response was less than enthusiastic.
Speaking of fees, I hope you’re not invested in any of these funds…
The Wall Street Physician found five of the most expensive funds on Wall Street. Their fees are incredible, and I mean that in the worst way possible.
A simple technique to save thousands
Raptitude.com is one of my favorite non-financial blogs, and I’m glad David finally talked about something somewhat money related so I can share it here.
His latest post explains a technique he believes saved him thousands of dollars.
I don’t doubt it. I’ve used the same technique, and I think it’s had a bigger impact on my saving than anything else.
Nobody said having fun has to be expensive
Mrs. Picky Pincher put together a monster list of 79 nearly free ways to have fun. Frugal street cred to the first reader who checks off all 79.
Incredible story about financial independence from… The Carnival, of all places?
This article was shared by a Money Wizard reader in the comments section of a previous Link-O-Rama, but the story was so good I had to highlight it here.
Epic Quiver tells the wild story about his mysterious friend Mick, who wasn’t quite who he seemed. Trust me, this one is worth the read.
My Money Wizard Around the Web
The viral powerhouse Uproxx.com interviewed me for their piece on how to save money for that magical summer trip. And yes, that’s a Wizard reference!
In other news, this blog made it’s second appearance on Yahoo Finance. This time I’m discussing money’s most powerful feature – the ability to buy time.
Happy Reading! See you in a few days for June’s Net Worth Update!