Have you ever considered how much money you might save for your future? Yes, you have a retirement fund, but do you think you’ll be able to save more than that? Do you think you’ll be able to save millions of dollars by the time you’re ninety years old? That’s precisely what this woman accomplished. And with her savings, she has plans that will shock you.
Sylvia Bloom was known to her family, friends, and coworkers as a frugal New York city dweller. She worked as a legal secretary for 67 years before retiring at the age of 96. She was born and raised in New York City.
Bloom was able to save a significant amount of money throughout her career, almost $9 million.
She achieved this enormous cut in expenses without informing a single member of her family or friends. But how was she able to earn and save so much money? 67 years is a long time, despite the fact that it may seem like millions of dollars might be saved over time.
Bloom spent the first part of her life as a legal secretary. She was thus more than halfway through her life when she began investing. And thus, after all this time, having observed how lawyers she worked with have spent their own money, she has discovered a secret from them without them knowing.
Bloom’s niece, Jane Lockshin said, “She was a secretary in an era when they ran their boss’s lives, including their personal investments. So when the boss would buy a stock, she would make the purchase for him, and then buy the same stock for herself, but in a smaller amount because she was on a secretary’s salary.”
When Anne Bloom died in 2016, just after retiring, she did not inform anyone about her millions of dollars in savings. That is why her family and friends were taken aback when they discovered that she had given $6.24 million to the Henry Street Settlement!
This is a New York City-based social services organization to which Bloom has chosen to allocate her money. Lockshin was the executor of her grandmother’s estate, and he was as taken aback by this huge discovery as anyone else. She stated, “I realized she had millions and she had never mentioned a word. I don’t think she thought it was anybody’s business but her own.”
Henry Street’s executive director David Garza said, “We were all agape, just blown away.” The generous lady’s contribution will go toward funding the Expanded Horizons College Success Program, according to Garza. This initiative aims to assist disadvantaged youngsters in preparing and supporting for college. These kids will be able to graduate from college on time thanks to Bloom’s money.
Additionally, his $2 million of savings would go to Hunter College and another scholarship fund that has yet to be announced.
But, in addition to donating money, she also gave a small amount of her funds to family and friends.
We applaud Sylvia Bloom for her extraordinary humility in contributing to worthwhile causes without seeking attention. She might have spent the millions of dollars she saved throughout her life using it as she worked hard for it all her life. But she chose to contribute and improve other people’s lives by doing so.
