Turning $10,000 into $8 million Was Just the Beginning For 1 Man
By: Tom Richardson
One man just turned the investing world on its head.
At 50 years old, a time when most of us are beginning to think about retirement, this American small-business owner was able to turn just $10,000 into an unbelievable $8,000,000 — and that was just the beginning.
Naturally, I was a little suspicious when I heard about those kinds of returns.
After all, as someone who is looking to make big money by retirement myself, I’m used to hearing:
“Climb the career ladder”
“You’re running out of time”
“It’s time to ask for a pay rise”
And so many more worn out phrases, especially when it comes to picking market-beating stocks. The ivory tower big-wigs at the Big 4 banks want the world to believe that building real, lasting wealth is a young man’s game. And you know what?
They’re wrong. And I found the proof.
Once I read this man’s story, everything changed. All the pieces of the puzzle snapped together, and at that moment I knew I could take control of my financial future no matter what.
The name of this everyman who became a financial wizard is Stewart Horejsi.
Just a few decades ago he was just one of the countless thousands of struggling small businesses owners. Then he heard the name of someone that would go on to change his life: Warren Buffett.
That’s right. Stewart Horejsi was one of the lucky few to encounter Buffett in his early days — before he became the world’s most famous investor, worth some $US 75 billion.
What he gleaned from Buffett’s investing style all those years ago was priceless. The wisdom of Buffett’s investments has been passed on to ordinary people like Stewart, and the handful of investors lucky enough to know of the Oracle of Omaha back then were lessons I think we CAN ALL USE.
As icing on the cake, I learned a critical insight that few acknowledge. We all think of Buffett as someone that has always been on the Forbes list of richest people, but this is DEAD WRONG.
The truth is, over 99% of his fortune came to him in the decades AFTER he turned 50! At an age when most Americans give up hope, Buffett was just getting started on the remaining 99% of his fortune!
If that isn’t empowering, I don’t know what is. And it doesn’t stop there.
As someone that made 99% of their money after age 50, Buffett even told one lucky group of listeners in 1999 that starting with just $10,000 (just like Stewart Horjesi did) could be the secret to explosive returns of 50% per year!
That’s right. Starting with small sums of capital, even if you’re just getting started investing later in life, CAN ACTUALLY BE AN ADVANTAGE.
Sounds unbelievable, right? It’s not. In fact, an audience member asked Buffett directly, at an investing event, about that very statement. In true Buffett fashion, he stuck to his guns:
“…I was earning 50% plus returns with small amounts of capital. I could do the same thing today with smaller amounts. It would perhaps even be easier to make that much money in today’s environment because information is easier to access.”
In fact, Buffett noted that he knew of a “half a dozen or so” individuals that could achieve these millionaire-maker results. All because they had embraced the simple investing strategies Stewart learned when he was a struggling small business owner, looking for a way to retire comfortably.
Naturally, when a handful of my Motley Fool coworkers were able to grab tickets to the Berkshire Hathaway annual meeting to be in the very same room as Buffett and hear about these wealth building strategies from the man himself, they jumped on the first plane to Omaha.
Buffett fielded questions from those present that day for nearly 6 hours. The catch was: No one was allowed to record any of it. No audio. No video.
Some of my colleagues even tried to write down every single word Buffett uttered. Over 10,000 words! I reckon their hands ached…
But boy was I glad they did! Buffett shared his many insights, including some we think any would-be early retiree can use to build wealth later in life — just like Stewart Horejsi. Even if the economy enters a recession and the ASX gets clobbered again.
Needless to say learning about Stewart Horejsi’s story, and being in the room that day to hear what Buffett had to say, was one of the most important things that ever happened to my finances. That’s why I want to share those strategies and tips with you today — so you can learn them for yourself.
We’ve gathered the strategies we learned from Buffett, distilled them down to 11 simple lessons, and put it in this exclusive report.
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