Second Act, First-Class Fortune: The Retiree Who Made $14 Million in Stocks

Paul Garrett’s story is proof that it’s never too late to start something big. After retiring from his job as vice-president of public relations at General Motors at age 64, Garrett didn’t just settle into a quiet life. Instead, he decided to try his hand at investing—and ended up building a fortune most people only dream about.

 

Key Highlights:

 

Garrett started investing seriously after retirement, with a clear goal to grow his money and help others.

 

He put $133,000 into Haloid shares between 1955 and 1959, buying over 63,000 shares at around $1 each. By 1971, those shares were worth more than $125 apiece.

 

His strategy was to find companies he really believed in, buy shares, and hold onto them, even when people around him said it was time to sell.

 

Garrett didn’t just stick to one company. He spread his investments across several, including Teleprompter and McCulloch Oils, which helped him manage risk.

 

He faced plenty of challenges, like picking the right stocks out of thousands and resisting the temptation to cash out early.

 

By 1971, his investments had grown to $14 million.

 

Garrett used his wealth to give back, donating $1 million each to cancer research, his college, and Columbia University’s business school.

 

Even at 80, he was still looking for new investment opportunities, motivated by a desire to keep learning and to help others, not just to make money.

 

Source: Upstox Personal Finance News