Late Boomer John Federoff

Below are excerpts from an inspiring article I came across yesterday (9/3/08) in The Electric New Paper, Singapore. Click here to read the story in its entirety.

Late Bloomer Goes From Being Cabby to Multi-Millionaire Boss

By Karen Wong

FROM driving a taxi to running a multi-million dollar company. Mr John Federoff might just be the perfect definition of a late-bloomer, having gone back to complete his studies when he was 39.

Six years later, when he was 45, the father of three graduated with two degrees and a Master of Business Administration.

Now at 60, when most people may be making retirement plans, Mr Federoff considers himself at the peak of his career. He is expanding his mining equipment business, making plans to hire more people and seeking new clients and new markets. . . .

Looking back, Mr Federoff said, the most frustrating part of his life was being in a 'rut'. His family was poor and he was caught in the vicious cycle, he said.

'I had to make a concerted effort to break the hold. I did it for my children, or the cycle will never end. . . . '

Of his achievements, Mr Federoff, who revealed that he has assets worth over US$5 million, said: 'A person's future depends on his mindset. Determination, hard work, sacrifice and a positive attitude can raise most people above their circumstances.'

Photo Credit: ABC News/Gary Rivett