How Kay Francis' Frugality Earned Her a Million-Dollar Fortune

Kay Francis

Kay Francis was one of the most glamorous and popular stars of the 1930s. But behind her clotheshorse reputation, Kay Francis was also one of the most money-wise actresses ever to grace the silver screen. She started out acting on stage as early as 1925 until the strength of her stage work landed her a contract in Paramount in 1929. Starting out with bit parts, Francis passed on as a seductress until her star as an actress eventually shone in such films as Trouble in Paradise (1932), One Way Passage (1932),  I Found Stella Parish (1935), Confession (1937) and In Name Only (1939).

By the mid-1930s, Kay earned $5,250 per week and was voted by Variety as Hollywood's sixth most popular star. Numerous magazine articles were written about every detail of her life and in and off the studio lot. In 1935, she earned $115,000 in that year alone.

Kay Francis had a habit that was valued in Hollywood--punctuality. Whereas other stars were notorious for being late--or not showing up at all--Kay was legendary for her promptness. She insisted that being late made her physically ill. "But though she is rarely late, neither is she inclined to arrive ahead of time. She appears on the moment, not before, not after."

Barbara Stanwyck and Her Millions

Barbara Stanwyck

Barbara Stanwyck was one of the leading ladies of Hollywood’s Golden Age. She was a glittering figure and a dazzling image. Yet, her early life was far from grand. At three, she was orphaned and later in life, she would say, “I just wanted to survive and eat and have a nice coat.” Her childhood was so full of “struggle, confusion and pain,” in the words of her biographer Axel Madsen, “but she never learned to blame anybody.”

“Alright, let’s just say I had a terrible childhood. Let’s say that poor is something I understand.” But she never let poverty become her hindrance to success. Dropping out from school at a very early age, her first job was as a wrapper of packages at Brooklyn’s Abraham & Straus department store. Here, she early $14 a week and became an early milestone because she never again depended on her family for financial support.

Grace Groner and her passport to eternal stardom

Grace Groner bought three $60 stocks from Abbot labs in 1935. She reinvested
her dividends until her small capital multiplied into millions.  

Grace Groner was no celebrity. She never wanted to be talked about. Only a few know her, actually. But I find her to be a star extraordinaire. She shines from within.

Grace Groner remained unknown until she died in January 2010. But she surprised everyone around her with her “simple” gift to her alma mater. She left a whooping $7 mn to Lake Forest College.

The school’s president was flabbergasted.

“Oh, my God.” That’s all he’s got to say.

No one knew she’s got that millions—except for her attorney. Nobody even knew how much money she’s got before she died. Working as a secretary at nearby Abbott Laboratory most of her life, one can’t just seem to expect that the unpretentious Grace was so full of amazing surprises.

Groner found ways to save money. She shopped for clothes at rummage sales and walked places instead of buying a car, reports NBC News.

Her lawyer told The Chicago Tribune :

“She did not have the (material) needs that other people have.She could have lived in any house in Lake Forest but she chose not to. … She enjoyed other people, and every friend she had was a friend for who she was. They weren't friends for what she had."

With her millions, Groner could have lived at a sprawling mansion that dotted her community. But she chose not to. Rather, she sufficed herself in living at a one-bedroom cottage. She used to live in an apartment for many years until a friend bequeathed her the small house in a part of town once reserved for the servants. She stayed here until she died. Its single bedroom could barely accommodate a twin bed and dresser; its living room was undoubtedly smaller than many Lake Forest closets.

There are only two things that Groner splurge one: one is traveling, the other is helping out students through her alma mater.

The Chicago Tribune writes:

“Groner was born in a small Lake County farming community, but by the time she was 12 both of her parents had died. She was taken in by George Anderson, a member of one of Lake Forest's leading families and an apparent friend to Groner's parents.”

The couple raised her and her twin sister, Gladys, as their own and it was through their generosity that Grace was able to graduate from Lake Forest College in 1931. Then, she worked as a secretary in nearby Abbott Laboratories. This, she did for 43 years.

In 1935, Grace purchased three $60 shares of specially issued Abbott stock. She held on to them and never sold one. The shares eventually split and rose in value many times over. Grace would reinvest her dividends and gains until her small capital turned into a substantial fortune.

While Lake Forest is known as one of the country’s most upscale neighborhoods, with grand houses and sprawling estates standing one after the other, Grace has never felt the urge to keep up with the “Joneses.”

In fact, Grace was so much of a DIY gal. She walked to places where she wanted to go. She would do stuffs herself and would do her own yard work even if old age compelled her to use a walker.

Yes, Groner was frugal but she was from being miser. She traveled widely extensively after retiring from Abbott and served the First Presbyterian Church. She would even do random acts of kindness in silence, giving anonymous gifts through Marlatt to needy local residents.

“Groner never married or had children, but she had a gregarious personality and plenty of friends. She remained connected to the college, attending football games and donating $180,000 to create the scholarship program,” reports LA Times.