Paper Mill Worker Builds $1.7 Million Fortune Through Investing — Top 3 Stocks That Boosted His Wealth

Investing in stocks early is one of the most efficient ways to compound your wealth over time. A 2023 report from Vanguard shared data that shows between 1976 through 2022, US stocks outperformed cash 76% of the time.

About six months ago, someone asked investors on r/Stocks — a Reddit discussion board with over 8 million members — whether anyone in the community actually became rich just by investing. The question received hundreds of responses, but one comment caught our eye.

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An investor said he was able to grow his wealth thanks to investing early in stocks.

"I’m an hourly worker in a paper mill and I’ve grown my net worth to $1.7 million. The only reason I can’t retire now is because I have advanced kidney disease and need the health insurance," he said.

Let's take a look at the three stocks that helped the investor grow his wealth.

GameStop Corp.

The investor said he was "very lucky" to have invested in GameStop GME early. Over the past five years, GameStop shares are up 2,500%. The stock came to the limelight in early 2021 amid a short squeeze after retail investors on Reddit and Robinhood banded together to buy GME in droves. 

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The investor said he first invested in the game retailer after reading a post on Reddit.

"First got in under $8 and sold my last shares at $375. Was in and out several times during the run up. Should have made more."

However, the stock is down 15% so far this year. The company's fourth-quarter results in December showed its revenue fell 20% year over year.

Nvidia

Nvidia NVDA was the key stock that helped the investor grow his wealth. He explained the reasons why he invested in the chipmaker early:

"NVDA just seemed to me to be the best way to ride the AI wave. Had no idea it was going to go that crazy. Sold too early though, it doubled again after I sold it."

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AST SpaceMobile 

Texas-based satellite manufacturer AST SpaceMobile ASTS was one of the early investments that helped the investor grow his wealth to $1.7 million. The investor said he once had 9,000 shares of the company and held on to his position despite heavy losses.

"Pure luck. I was down $70,000+ on ASTS at its low and I held," he said.

ASTS shares jumped in January after the company received a special temporary authority from the Federal Communications Commission authorizing testing service in the U.S.

Over the past 12 months, the stock is up 680%. 

The investor believed ASTS still has upside potential.

"There’s still some risk attached, but if all goes well, the ASTS run is nowhere near over. It’s still a pre-revenue company."

Wondering if your investments can get you to a $5,000,000 nest egg? Speak to a financial advisor today. SmartAsset’s free tool matches you up with up to three vetted financial advisors who serve your area, and you can interview your advisor matches at no cost to decide which one is right for you.

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