Millionaire Lesson No. 8
Forgo the safe route and find an employer who will help you live up to your potential.
By the numbers, Gurtej Sandhu is one of the most prolific inventors in the U.S. What’s more, he has parlayed his education and ingenuity into millionaire status.
Sandhu holds more than 700 patents, which puts him among the top ten patent holders in the nation. He works for Micron Technology, which makes memory microchips that are used in most digital devices, from cell phones to MP3 players. The semiconductor business faces cutthroat competition, and all of Sandhu’s patents focus on making microchips more efficient.
Sign up for Kiplinger’s Free E-Newsletters
Profit and prosper with the best of expert advice on investing, taxes, retirement, personal finance and more - straight to your e-mail.
Profit and prosper with the best of expert advice - straight to your e-mail.
The son of two chemists, Sandhu, 47, was always attracted to math and science. "I liked engineering better than medicine because I didn’t have to deal with blood," he says. He earned a degree in electrical engineering from the elite Indian Institute of Technology, in New Delhi, and received a PhD in physics from the University of North Carolina at Chapel Hill in 1990.
Turning down a job offer from a bigger rival, Sandhu joined Micron, which at the time ranked 16th among makers of memory chips. His physics professor and mentor, W.K. Chu, persuaded Sandhu to take the Micron job because it would give him an opportunity to learn many aspects of the chip-making business rather than being locked in to a specialized job at a larger company.
Inspiration comes quickly, says Sandhu -- "Suddenly it clicks and there’s a flash" -- but it takes dedication to develop an idea from creation to a patent. And sometimes you don’t even comprehend the magnitude of what you’ve discovered. For example, Sandhu developed a method of coating microchips with titanium without exposing the metal to oxygen, which would ruin the chips. Initially, he didn’t think his idea was a big deal, but now most memory-chip makers use the process.
Micron is based in Idaho, and Sandhu enjoys bike riding and spending time with his wife and two teenage sons in and around Boise. "The isolation works for me," he says. "I’m more open to new ideas here."
EIGHT MILLIONAIRE PROFILES
1. The Video That Took on a Life of Its Own
2. Know When to Make the Call
3. Pounce When the Time Is Right
4. It Started Over Cocktails
5. A Thirty-Year Plan to Make a Mil
6. Breaking With Family Tradition
-
Gen X? Challenges Lie Ahead as Retirement NearsTapping home equity and working longer are key strategies that can help overcome a savings shortfall.
-
How Grandparents Can Help with Education ExpensesBefore paying for your grandkids' education, it's important to consider how to help them without risking your own retirement. Here are 10 things to think about.
-
Amazon Resale: Where Amazon Prime Returns Become Your Online BargainsFeature Amazon Resale products may have some imperfections, but that often leads to wildly discounted prices.
-
Roth IRA Contribution Limits for 2025Roth IRAs Roth IRAs allow you to fund your retirement with after-tax dollars while you're working, and then withdraw those contributions and earnings tax-free when you retire. Here's a look at 2025 limits and income-based phaseouts.
-
How to Search For Foreclosures Near You: Best Websites for ListingsMaking Your Money Last Searching for a foreclosed home? These top-rated foreclosure websites — including free, paid and government options — can help you find listings near you.
-
Four Tips for Renting Out Your Home on Airbnbreal estate Here's what you should know before listing your home on Airbnb.
-
Five Ways to a Cheap Last-Minute VacationTravel It is possible to pull off a cheap last-minute vacation. Here are some tips to make it happen.
-
How Much Life Insurance Do You Need?insurance When assessing how much life insurance you need, take a systematic approach instead of relying on rules of thumb.
-
When Is Amazon Prime Day? Everything We Know, Plus the Best Deals on Apple, Samsung and MoreAmazon Prime Amazon Prime Day is four days this year. Here are the key details you need to know, plus some of our favorite deals to shop during the sale.
-
How to Shop for Life Insurance in 3 Easy Stepsinsurance Shopping for life insurance? You may be able to estimate how much you need online, but that's just the start of your search.
