Wednesday, October 18, 2006

Frugal Woman Lives to 100 & Leaves $35.6 Million to Charity

Eugenia Dodson, a frugal saver in the Miami area, recently died at the age of 100 and left $35.6 million to charity. That's the word from the front page of today's Miami Herald.

By living frugally and investing smartly, a Coral Gables woman who died at 100 amassed $35.6 million earmarked for diabetes and cancer research. --Miami Herald

The former beautician worked hard and married well, but remembered her humble roots, the article states.

'She denied herself the trappings of wealth; she was dead-set on doing good for humankind,'' said Donald Kubit, co-trustee of her trust at Northern Trust Bank. ``She had a big heart.''

The secret to her wealth:

1. Smart, informed investments.

"She invested everything very carefully,'' Kubit said. ``She liked blue-chip stocks. She read all the proxy statements.''

2. Lived below her means:

Childless, Dodson lived in a modest two-bedroom condo, declining friends' urgings to move to better quarters.

3. Cared about other: "Always, she saved the money for diabetes research to honor her brothers," according to the Herald piece.

Here's the link to the complete frugal saver leaves huge gift article by reporter Fred Tasker.

No comments: