Mr. Earl is a parking lot attendant who has never made more than $12/hour. He is also a man who has never earned more than $20k in a single year. Why would anybody turn to a guy like this for financial advice? Simply put, he knows what he is talking about.
Would you believe that a guy with the income stats above has a net worth of more than $500k? Probably not. But in the case of Mr. Earl this is true.
Believe it or not, Mr. Earl follows the same simple advice day in and day out: stop working so hard and let the money work for you.
As the years went by Mr. Earl never stopped investing. Starting in the 60’s, every month he would put $25 into a mutual fund. He kept up with this plan for 15 years. By the late 70’s his net worth had grown to $25k.
By investing in blue chip stocks such as IBM and Coca-Cola he got a big jump on the future. But he didn’t do this by acting foolish. Rather than spend the money he was making, he simply reinvested. This increased his shares, year over year.
Where did he learn so much about investing? Mr. Earl’s parking lot is located in the middle of a financial district. Rather than sit back and let so much knowledge pass him by every day, he picked the brains of the attorneys, brokers, and money managers who parked in his lot.
With a stock portfolio worth more than $500k, most people his age are envious. But he has much more than money. Mr. Earl’s house is paid off and he doesn’t have any credit card debt.
If you want to learn more about Mr. Earl, the savvy parking lot attendant investor, check out his story on video.