Ordinary millionaire (auction)

A woman failed in her business got onto the track to the wealth though auction when her health was ruined by cancer. There are three Fs in her story: financial education (reading books on auction), never give up even after her failure, and stand firm thanks to support from her daughter.

1. Finantial education

She was finantially deep in trouble when she was ill, but one book in the bookcase changed everything. After the book, she kept reading as if she was going to read all books about auction. Her continuous financial education led her into the action, looking  for good properties in auction website. Eventually, she got one property. Since then, she kept looking into auction list to find good investment. She simply started auction thinking that it can provide small money to feed her and her daughter. But now her business grows much more owning almost 80 houses. 

She changed her context and contents through the books. She had nothing, but she could invest without huge sum of money. Interesting thing is the tenant from her first investment. She had to vacate the house, but the tenant resisted complaining that she took his property by force through her wealth. In reality, she was just a patient suffering from cancer and a poor single mother at the tip of getting destitute, not even able to support her daughter. Her and the tenant's financial statement may be highly similar from one another. The difference was the financial IQ.

2. Failure

Her family was on clothing business, and it was quite successful. But the business was going down after some time. Moreover, she soon found out that she had cancer. Wealth and health collapsed at once. She had to find her way out to make money with next-to-nothing. Auction was the only option to her simply because she didn't have much money. Her loss was significant initially; however, her failure couldn't stop her. Failure is just a part of her journey.

3. Family

When things were getting worse, she can't properly support her daughter. Sometimes one thought came to her telling that her daughter was like shackles to her, preventing her from getting out of destitution. But when she was almost collapsed by finantial trouble and cancer, her daughter became the strongest supporter making her stand back. She could achieve everything because of her daughter.

This reminds me one story from 'rich dad poor dad'. Poor dad complained that he was poor because of his family. But, the rich dad said that he achieved his wealth because of his family. Same situation was interpreted very differently and led to different life.

 

Many think that huge sum of money is needed to start investment, which is not true. This story is a proof that money is an idea. Money can be made out of nothing with proper finantial education.