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When an athlete has had a stellar career, going beyond greatness to achieve excellence, they are often inducted into their sport’s Hall of Fame at their earliest eligibility. These are called “First Ballot Inductees,” and they occupy a place even above the other Hall of Famers. Your Survival Guy is creating his own Hall of Fame, one for people who really save til it hurts. These are hard working Americans who live frugal lives and activate the power of compound interest to amass huge fortunes.
The first such individual you read about here on YourSurvivalGuy.com was Ronald Read, a gas station attendant from Vermont who amassed an $8 million fortune by the time he passed away at 92 years old. Then you read about New Hampshire odd-jobber Geoffrey Holt, who left a $3.8 million fortune to his town when he passed away, despite not owning a car or television.
Now, meet the latest inductee to the Save Til It Hurts Hall of Fame, Terry Kahn, a Veterans Administration employee from Indianapolis, who recently passed away, leaving $13 million to charity despite living a life of frugality. Martha Williams reports for the Daily Mail:
A very frugal man left a whopping $13 million to local charities after he passed away – but some organizations missed out on millions by thinking it was a scam.
Terry Kahn worked for the Veterans Administration for 30 years and quietly passed away in 2021 – with no announcement or obituary because they were too expensive.
The modest Indianapolis man left behind no immediate family – saying only to donate his money to ‘charity’ in his will, but not specifying which one.
Kahn’s attorney Dwayne Isaacs had the unique job of calling local charities and casually offering them millions of dollars.
While some charities were overwhelmed by the kindness – others were wary of the remarkable offer: ‘Probably three or four different entities that lost out because they just didn’t take my call,’ Isaacs told CBS news.
Kahn made his millions by pinching his pennies. He lived in a modest house in south Indianapolis and drove an old Honda.
The secret millionaire refused to carry a cellphone because they cost too much, he said.
His penny-saving ways paid off in the long-run because he made a huge difference for a dozen nonprofits that got to share his $13 million estate.
Action Line: Is there a “secret millionaire” living on your street? Maybe it’s you. If you save til it hurts, it could be. When you want help, let’s talk.
E.J. Smith - Your Survival Guy
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