Paul Navone – A simple plan well executed

I know I react after the war, but here is the kind of story that inspires me : A retired factory worker gives $1 million to Cumberland County College. Mr Navone is now able to do help his community thanks to a lifelong commitment to healthy personal finance. He never earned more than $11 an hour. What an achievement !!

Mr Navone is happy to live a frugal life. He doesn’t own a phone or a television, he buys most of his stuff second hand, and drives an old car. Yet, he does not miss a thing. He is disciplined, and happy to be. His strategy is simple.

“My motto back then without realizing it, and it is now, is that I’ll work for the money, and then I want the money to work for me” -Paul Navone

As Mr Navone wants his money to work for him, he saves a fair share of his income every month. This enables him to invest regularly.

He started by building a steady stream of income from renting out properties; properties he bought with his savings. He then started to invest in the stock market.

His investments always are for the long term. He never acts on impulse, and do not panic when the market are tumultuous.

“Paul has always been the perfect client. He gave me money and never took it out” – R. Douglas Smithson – Broker

Mr Navone is a great example of a simple plan well executed. His strategy is to give his money the time to grow. And it did grow ! He was steady, he was consistent, and he is rewarded with a net worth in the millions.

Mr Navone became a paragon of Personal Finance Strategy in the recent month. Many have discussed his achievements over the past few months. You can follow some of them on the following PF blogs:
Life Well-Lived is Not About the Bling – get rich slowly
Seven steps to wealth – the example of Paul Navone – Lending Club
Case Study: Multi-Millionaire Made on $11/hr Job – Consumerism Commentary