After I plugged my recent article about Ty Cobb and the Coca-Cola stock on Seeking Alpha, I received a link from regular SA contributor Charles Margolis highlighting the town of Quincy, Florida, which is filled with dozens of legacy millionaire families that built their fortunes by taking all of their disposable income from their blue-collar jobs to buy Coca-Cola stock, which they used to become millionaires during the second half of their lives. Although I had already been familiar with the story before Charles pointed it out to me, it’s a great story that can withstand a bit of repetition.
Some of these blue-collar millionaires used the Coca-Cola share appreciation and dividend income to set up significant charitable causes, while others constructed trust funds for the future generations of their family so that their heirs could attend college, start businesses, and buy starter homes without having to incur debt … Read the rest of this article!
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