Some of the Greatest Investors Built Their Wealth Through Libraries; I Hope to Become One of Them

“What does a secret millionaire like Ronald Read, who passed away with a stealth fortune of $8 million, have in common with your local library?

The answer is that your local library probably has Morningstar or Value Line, two great investment platforms that allow library card users to use their platforms for free to analyze over 1500 stocks.

Despite what TV and media outlets show, that most millionaire investors work on Wall Street, there are a number of secret millionaire investors who have amassed their fortunes using their free local library resources.

Libraries often have the Wall Street Journal and other investment newspapers for free, along with free online platforms that cost hundreds annually without a library membership.

As I go back to school and become a college student again, I find myself overwhelmed with how much information is free once you become a student or library cardholder, the latter I have always been.

It costs nothing to learn from some of the greats.

I think about how it was for investors like Ronald Read, who would venture over to his local library to read the Wall Street Journal and borrow a stack of books after returning a stack of books.

Imagine sitting there, the world moving around you, as you sit immersed in the world of investing, knowing you are accumulating wealth and dividends unbeknownst to others.

It costs nothing to learn and read all the gem-ridden books filled with wisdom from great investors before you.

Their mindset, way of living, philosophies fill their books, all for you to learn for free. And once you have a great idea on how to invest, your local library most likely has access to Morningstar or Value Line, and once you figure that out, opening a brokerage account costs nothing.

Nowadays, all it takes is a brokerage that accepts fractional shares for the average investor to get started and learn the ins and outs of the stock market, how it functions, how it moves, and how wealth is created.

I got my start with Robinhood before switching brokerages over to Schwab. If it wasn’t for Robinhood, I might not have gotten my start into the world of investing.