Ronald Read

Summary

Ronald Reed, a quiet and humble man from Brattleboro, led a modest life working simple jobs, including vacuuming and cleaning floors. Despite his unassuming nature, he became a savvy investor, regularly reading company reports and magazines like Barron's. Though many believed he had marginal means, Reed amassed significant wealth by carefully investing, eventually leaving an astonishing $5 million to his local hospital and library. His story reflects both his financial wisdom and the deep relationships he formed within the community, where he was known for his routine presence and generosity.

Takeaways

• 🏡 Ronald Reed lived humbly in a house on Bruce Street.
• 📚 He was highly interested in finance, reading company annual reports and Barron's magazine.
• 🎶 Reed enjoyed listening to the Gettysburg Address on his phonograph while reading.
• 🪵 He came from humble beginnings, with a father who cut wood for a living.
• 🧹 Reed worked many simple jobs, like vacuuming and cleaning, despite his financial success.
• ☕ He was a regular at a local diner, always sitting at the same stool, having coffee and an English muffin with peanut butter.
• 💵 Despite his modest lifestyle, Ronald Reed invested wisely and accumulated significant wealth.
• 🏥 Reed left a surprise $5 million donation to a local hospital and library after his death.
• 📈 His success in investing was remarkable, especially considering his lack of formal education.
• 🙏 Reed’s donation to the hospital was made because he trusted the institution's fiscal responsibility and care.

Q & A

Who is the main subject of the story?

The main subject is Ronald Reed, a humble man who lived on Bruce Street and worked various jobs like vacuuming and cleaning.

What was surprising about Ronald Reed’s wealth?

People were surprised by Ronald Reed’s wealth because he lived a modest life, yet he left an estate of approximately $5 million. No one knew he was wealthy until after his death.

What did Ronald Reed enjoy doing in his spare time?

Ronald Reed enjoyed reading Barron's magazine, going through annual reports, and listening to the Gettysburg Address on his phonograph.

How did Ronald Reed’s upbringing influence his lifestyle?

Ronald Reed came from humble beginnings, with his father cutting wood for a living. This upbringing likely influenced his frugality and disciplined approach to saving and investing.

What was Ronald Reed’s daily breakfast routine?

Ronald Reed had a routine of going to a hospital cafeteria, where he would have a cup of coffee and an English muffin with peanut butter, always sitting at the same stool.

How did Ronald Reed approach investing?

Ronald Reed was very careful with his money, investing a large portion of his earnings. He particularly loved investing in banks and saved diligently throughout his life.

What was a notable story about Ronald Reed’s breakfast experience?

One day, a man paid for Ronald Reed’s breakfast, thinking he couldn’t afford it. This was a touching moment, highlighting how modest Ronald appeared to others.

What were some of Ronald Reed’s contributions after his death?

Ronald Reed made significant contributions to the local hospital and library in Brattleboro, donating around $5 million to these institutions.

Why did Ronald Reed choose to donate to the hospital?

Ronald Reed felt a strong connection to the hospital, appreciating how he was treated by the staff. He also believed it was a fiscally sound institution and a wise investment for his money.

How do people describe Ronald Reed’s character?

Ronald Reed is described as a quiet, humble person with deep knowledge of investing. Although he seemed to have modest means, he was very thoughtful and generous, surprising many with his accumulated wealth.