Is This the Easiest Way to Make a Million?

easiest way to make a millionIs this the easiest way to make a million?   Lyndell Scott Russell, the 101 year old lady featured in this video did one thing one time.  Years later she was a millionaire.  Now,  it didn’t happen overnight, but that might be the easiest way to make a million dollars!

So what did Texas native Lyndell Russell do that just might qualify as the easiest way to make a million?   Well, in 1950 she did one thing and that was buy $315 worth of stock in the Safeco insurance firm.  She was 43 years old at the time and purchased just 15 shares.   In fact she didn’t have a safe deposit box to put her shares in so she just grabbed a nice shoebox, stuck her stock certificate in there and put the box up  in the closet!

Over the next 58 years her shares would split 11 different times eventually turning her original 15 shares into 33,346 shares and making her not just a millionaire, but a multi-millionaire!  She had also become the single largest shareholder.

Finally, in 2008 Safeco was bought up by Liberty Mutual and she received a windfall.  Lyndell did  note that the taxes almost killed her because the capital gain was so huge.

So, this one time purchase of one stock, tucked away in a shoe box, netted this lady millions.  I think this particular case is a testament to the powers of stock ownership combined with patience.   Now, you can do something similar no matter how old you are and with the advent of online accounts and such you don’t even have to hide it in a shoe box!

This story is encouraging in the aspect that you can do one thing one time and that just that one action may propel you to millionaire status at some point in your life.  So, why not take that idea and do 10 different things, or 100 different things, all designed to help you generate more income.   One of those money making ideas or “one time” things may eventually lift you to millionaire status.   Then who knows?   You may be the one featured as having accomplished the easiest way to make a million.

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