Alan Naiman 63-year-old never married and never had children, but kids were very important to him. He fostered a few children and cared for his brother, Daniel, who had developmental disabilities,CNN reports .
Naiman became a social worker after leaving a career in banking.
“He was a highly valued employee who was dependable and dedicated to his work,” Washington State Department of Children, Youth and Families spokeswoman Debra Johnson told CNN.
He worked 3 jobs to get established in the new field, his friend Shashi Karan told CNN.
Karan and Naiman worked together at the bank in the ’80s and kept in touch over the decades until his death on Jan. 8, 2018.
“He was just that kind of guy that he couldn’t just spend the money. It was just in his nature to save the money and put it aside,” Karan said.
Karan said he was one of the few people who knew just how much money Naiman had.
“I think he always knew that he was going to leave his money to charity,” Karan said.
The friends had talked about investments and savings over the years, and when the time came for Naiman to make a will he asked Karan to be his executor.
He said Naiman received a sizable inheritance when his father died, which added to his fortune.
The scrimping, saving and deal hunting was more like a hobby to Naiman than a sacrifice.
“Saving money was sort of a game to him,” Karan said. “He would brag about how he had a whole day out and didn’t have to spend a single cent.”





What if the person who looked like he was spending the least was actually quietly building a fortune?



Naiman died on January 8, 2018, at the age of 63. When his estate was eventually distributed, the extent of the fortune he had accumulated surprised many people who knew him.

A man whose life revolved around children

Although Naiman never had children of his own, children were deeply important to him.

He fostered several children and also devoted time to caring for his brother, Daniel, who had developmental disabilities.

His compassion eventually influenced his career.

After working in banking, Naiman left the financial sector and became a social worker with Washington State's Department of Children, Youth, and Families.

The career change came with a financial sacrifice.

According to his friend Shashi Karan, Naiman worked three jobs while establishing himself in his new profession.

A spokeswoman for the Washington State Department of Children, Youth and Families described him as a highly valued employee who was dependable and dedicated to his work.

So how did he become wealthy?


He wasn't known for an extravagant lifestyle.

His former banking colleague and longtime friend Shashi Karan told CNN that Naiman was naturally inclined to put money aside rather than spend it.

He hunted for bargains, avoided unnecessary purchases and took pleasure in seeing how little he could spend.

Karan recalled that Naiman would sometimes boast about having an entire day out without spending a single cent.

For Naiman, frugality wasn't necessarily a hardship.It was a game.The inheritance that added to his wealth.Naiman's savings were not the only source of his eventual fortune.

According to Karan, Naiman received a substantial inheritance after his father died, adding to the wealth he had already accumulated through years of saving and investing.

The combination of disciplined saving, investments and inheritance eventually created an estate far larger than many people around him realized.

Karan was among the few people who knew how much Naiman had accumulated.

He already knew where the money would go

Perhaps the most revealing part of Naiman's story is that his frugality apparently had a purpose.

Karan believed Naiman had always intended to leave his money to charity.

When Naiman prepared his will, he asked Karan to serve as his executor.

That decision gave his lifelong habit of saving a final purpose: money that could have been spent on a more lavish lifestyle instead became a legacy for organizations helping others.

Naiman's life challenges the conventional image of wealth.

He didn't drive his story through luxury, expensive holidays or a public display of success.

Instead, he quietly accumulated wealth while working in a profession devoted to helping vulnerable people.

His friends knew him as someone who could be remarkably economical with his own money while being generous with his time and care for others.

That contrast is what makes his story memorable.He lived like someone who didn't need much so that, ultimately, his money could do much more for other people.



Naiman's story is about what someone chooses to do with money once they have it.

His life combined extreme frugality, years of work, investments, family responsibilities and a commitment to children and vulnerable people.

Rather than measuring success by what he could buy, Naiman appeared to measure it by what he could eventually give.

If you knew you could make a greater difference by spending less on yourself today, how much would you be willing to sacrifice for the legacy you wanted to leave behind?

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