7. Tim Grittani, Penny Stock Millionaire
Remember Julie Broad and her husband Dave Peniuk who were determined to turn their $16,000 savings into more? Into millions? Well Tim Grittani took his life savings of just $1,500 in 2010 and decided he would risk it to make more. He decided to put his money into penny stocks. Now remember Broad and Peniuk who made their big money on real estate were trashing stocks as an investment. They had a pretty good argument too for going into real estate instead of stocks. You get to leverage your investment, and therefore your returns, by a factor of ten. There’s potentially less risk as well.
But this guy Tim went ahead and decided to invest his paltry $1,500 in stocks, and not just any stocks. He went for penny stocks! The lowest life form in the stocks universe. The stuff Jordan Belfort would pump and dump to the tune of hundreds of millions as unsophisticated investors lost money. Well Tim decided these shares valued under $1 apiece were his ticket to riches, and he turned out to be right! In 2013 he told CNNMoney, “I’ve been trading every single day for almost three years, and it’s been a slow, day-to-day process. Investors in penny stocks should be prepared for the possibility that they may lose their whole investment.”
But that slow, day-to-day trading process battle hardened Tim into a guy who knows how to pick winners and losers, and he turned his initial investment of just $1,500 into a multi-million dollar stock portfolio. He even shares investment advice now on his blog, Trade the Ticker. The big take away here is find your own path. Don’t necessarily listen to anyone on the specifics when they give advice about how to be wealthy. Learn from their attitude, their positivity, their perseverance, their energy, their desire to be rich. Then chart your own way toward millions.