Friday, August 24, 2007


Who wants to be a millionaire?

Rev. Jacob Frank Schulman and his wife Alice invested 25% of their income each year (married in 1954). He died in 2006 at 78 with an estate of over $20,000,000. Over the years they have been donors to various Unitarian causes, a branch of Christianity to which he converted in the 1950s. The story was in the WSJ today.
    From his obituary: "Dr. Schulman was born March 26, 1927 in Nashville, Tennessee. He had an outstanding academic life with degrees from the following institutions: B.A. - University of Oklahoma; S.T.B. - Harvard University; D.Min. and D.D. - Meadville Lombard Theological School; M.A., D.Phil.,B.D. - University of Oxford.

    Mr. Schulman was ordained in the Unitarian ministry in 1954 at the Arlington Street Church, Boston, Massachusetts. He served many congregations: Arlington Street Church, Boston; First Unitarian Church, Worcester, Mass.; First Unitarian Church, Youngstown, Ohio; Emerson Unitarian Church, Houston, Texas; Unitarian Church of Horsham, West Sussex, England; and Huntsville Unitarian Universalist Fellowship in
    Texas. His last position before retirement was as Chaplain and Dean and Fellow in Theology at the Harris Manchester College, University of Oxford. Mr. Schulman was also named Minister Emeritus at Emerson Unitarian Church of Houston and at All Souls Church Unitarian Universalist, The Woodlands, Texas.

    Frank Schulman was a prolific writer of books, pamphlets, and articles on topics from "Blasphemous and Wicked: The Unitarian Struggle for Equality, 1813-1844" (1997) to the pamphlet he edited, "Ralph Waldo Emerson Speaks." In addition, he was a sought-after lecturer, delivering the Berry Street Lecture (1981); the Minns Lecture (1982); and the Billings Lecture (1983). Mr. Schulman also served in the U.S. Navy during World War II and the Korean War."
However, if you're not interested in the pay of a minister and scholar, you might also consider sending your 18 year old to a state school instead of a private, or ivy-league college, and investing the difference each year in the stock market for the long haul. Your student will probably come out of this decision at age 50 or 60 thanking you and piling flowers on your grave. Plus s/he won't have that huge debt at graduation.

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