Grace Groner was a lady exceptionally frugal with her money. She bought used clothes, walked instead of driving a car, and lived in a small modest home. The one thing she put money into was a scholarship programme for her old alma mater, Lake Forest College. When she sadly passed away in January at the grand old age of 100, nobody could have guessed exactly what that would entail.

Her attorney contacted the college and gave them the astounding news that her estate had been valued at $7 million, all originating from a $180 stock purchase she made in 1935. Her attorney and friend,William Marlatt, said, “She did not have the [material] needs that other people have. She enjoyed other people, and every friend she had was a friend for who she was”.

Grace’s early life was marred by the death of both her parents by the time she was only 12. She then went to live with family friends, the Andersons, who raised her and her twin sister Gladys. She then attended Lake Forest College and on leaving became a secretary, working for the same company for 43 years. Her original stock purchase of $180 became a fortune over the next 70 years, and William Marlatt was one of very few people she trusted the information to.

She lived in an apartment until she inherited the small house from a friend, where she lived for the rest of her life. Her house will now put up female students from the college and has been named “Grace’s Cottage”. It would be easy to think that because she was careful with her money, she was also miserable but that could not be further from the truth. She travelled extensively, gave anonymous gifts, through Marlatt to needy residents and did voluntary work for the First Presbyterian Church.

She never married and never became a mother, but she led a full life with many friends, and staying in touch with the College. Lake Forest’s president, Steven Schutt, had known of her plans to leave the college money for the past year but had no idea of the amount involved. For more on this story go to ChicagoTribune.com. Grace Groner may not have splashed her cash but she was certainly one classy lady. What do you think of her extraordinary legacy?

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