Great Depression Lesson No. 2: Invest, but wisely.
Brody didn’t have the misfortune of a tanking real estate market. He and his wife bought a house in Great Neck, N.Y., for $33,000 in 1963, and sold it 32 years later for $400,000.

Brody also invested in the stock market, but did a lot of research on the companies and their CEOs before handing over his money.

“You’re investing in people,” says Brody.

When making $150,000 a year, Brody eventually socked away nearly $90,000 for his two children’s college tuition from the time they were youngsters. He also invested in U.S. Treasury bonds. “Safe stuff,” says the economical Brody.

Great Depression Lesson #3: Try not to keep up with the Joneses.
Although Brody worked in advertising, that didn’t translate into rampant consumerism. Brody put away money when he could, and didn’t touch the money he had put in the bank when he decided to make a purchase.

He remembers that kids used to be able to build their own radios. It's very different from today, when trying to get the latest smartphone can set you back hundreds of dollars.

“Too many guys looked in other guys’ backyards,” Brody said. “I didn’t.”

These days, he can enjoy all the time he wants in his own.

 

 

 

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