Two Comma Club

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Two Comma Club

Postby CarlZ993 » Wed Jan 23, 2013 8:29 pm

At end of market day 1/23/2013, I joined the 'Two Comma Club.' One million dollars. Wow!

I was always a saver. I didn't always know exactly what I was doing. But, I kept saving. I learned so much from this forum. It helped me 'Stay the Course' through it all. Thanks to all the learned posters & authors on this forum. If I started to recognize people individually, I'd screw it up and leave someone worthy off the list.

To celebrate, I think I'll take my wife out for a steak dinner this weekend. Cheers!
Carl Z
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Re: Two Comma Club

Postby sscritic » Wed Jan 23, 2013 8:31 pm

And why not tonight? Because you understand delayed gratification.


Congrats. Now go get that third comma. :)
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Re: Two Comma Club

Postby livesoft » Wed Jan 23, 2013 8:32 pm

Let's hope she likes steak. :) Congrats.

Next trick for you: Stay in 2-comma territory for at least a year. Or you may have to go out to lots of steak dinners as you bounce up and down around this mark.
It's all about short-term opportunistic rebalancing due to a short-term change in one's asset allocation, uh, I mean opportunistic rebalancing, uh I mean rebalancing, uh I mean market timing.
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Re: Two Comma Club

Postby scone » Wed Jan 23, 2013 8:33 pm

Congratulations! :sharebeer :moneybag
"Sometimes you eat the bear and sometimes the bear eats you." -- Preacher Roe
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Re: Two Comma Club

Postby Mel Lindauer » Wed Jan 23, 2013 8:36 pm

Congrats! :sharebeer
Best Regards - Mel | | Semper Fi
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Re: Two Comma Club

Postby Kurmudjon » Wed Jan 23, 2013 8:37 pm

Congrats -- secret handshake on the way. :)
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Re: Two Comma Club

Postby Toons » Wed Jan 23, 2013 8:40 pm

CarlZ993 wrote:At end of market day 1/23/2013, I joined the 'Two Comma Club.' One million dollars. Wow!

I was always a saver. I didn't always know exactly what I was doing. But, I kept saving. I learned so much from this forum. It helped me 'Stay the Course' through it all. Thanks to all the learned posters & authors on this forum. If I started to recognize people individually, I'd screw it up and leave someone worthy off the list.

To celebrate, I think I'll take my wife out for a steak dinner this weekend. Cheers!


Staying The Course-you hit the nail on the head :happy
"One does not accumulate but eliminate. It is not daily increase but daily decrease. The height of cultivation always runs to simplicity" –Bruce Lee
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Re: Two Comma Club

Postby BostonBoy » Wed Jan 23, 2013 8:48 pm

Congratulations!
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Re: Two Comma Club

Postby NAVigator » Wed Jan 23, 2013 8:55 pm

Congratulations!

After your steak dinner, consider opening a bottle of Bogle wine and raising a toast to the person who motivated this forum.

Jerry
"I was born with nothing and I have most of it left."
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Our home that Jack built.

Postby Taylor Larimore » Wed Jan 23, 2013 9:10 pm

Carl:
Thanks to all the learned posters & authors on this forum.

And we mustn't overlook our mentor, Jack Bogle, for whom this forum is named.

Pat and I frequently say: "We live in our home that Jack built."

Best wishes
Taylor
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Re: Two Comma Club

Postby Boglenaut » Wed Jan 23, 2013 9:13 pm

Congradulations! :beer

Just curious...everyone counts it differently. Some people count home equity, some do not. Some count traditional 401K and traditional Roth, while others discount it for future tax liabilities. Some count 529, some not.... you get the idea. What did you use as your base?
The problem with being a Boglehead is the more time you spend on it, the worse you get. It makes for a lousy hobby.
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Re: Two Comma Club

Postby runner9 » Wed Jan 23, 2013 9:56 pm

Re: 2 Comma Club
by CarlZ993 » Fri Sep 07, 2012 12:26 pm

Congrats! Feels great, doesn't it?

http://www.bogleheads.org/forum/viewtopic.php?f=2&t=102330&p=1483258#p1483258

Can I ask, been there before or just knew what it feels like in advance?

Regardless, congrats!
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Re: Two Comma Club

Postby peppers » Wed Jan 23, 2013 10:13 pm

The first two commas are always the hardest.
"..the cavalry ain't comin' kid, you're on your own..."
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Re: Two Comma Club

Postby mickeyd » Wed Jan 23, 2013 10:28 pm

Don't get too excited about such short-term accomplishments as they can go away just as quickly.
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Re: Two Comma Club

Postby ResNullius » Wed Jan 23, 2013 10:33 pm

mickeyd wrote:Don't get too excited about such short-term accomplishments as they can go away just as quickly.

Oh, come on! It's a great accomplishment, regardless of whether tomorrow's market takes him slighly below his current level. Reaching 7 figures is a huge milestone for anyone who works for a living. Congrats, a huge congrats.
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Re: Two Comma Club

Postby zebrafish » Wed Jan 23, 2013 10:43 pm

Congratulations!
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Re: Two Comma Club

Postby NYBoglehead » Wed Jan 23, 2013 10:46 pm

ResNullius wrote:
mickeyd wrote:Don't get too excited about such short-term accomplishments as they can go away just as quickly.

Oh, come on! It's a great accomplishment, regardless of whether tomorrow's market takes him slighly below his current level. Reaching 7 figures is a huge milestone for anyone who works for a living. Congrats, a huge congrats.


+1

Yeah, it might dip below the 7 figure mark with daily fluctuations, but my guess is the OP is still contributing and still reinvesting quarterly dividends. So I think he's going to be staying in the millionaire's club.
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Re: Two Comma Club

Postby wingnutty » Wed Jan 23, 2013 10:56 pm

It's a HUGE accomplishment! For many of us working stiffs it is a product of a lot of sacrifice. I'm not there yet, won't be for probably 15+ years, but I work towards that goal every single day and our family makes a lot of sacrifices so that we may one day attain that financial goal and all the benefits that go with it. It truly makes me happy to hear when others reach their goal and to share the happiness with them because it makes me realize that the end goal is achievable.

Congrats from one boglehead to another. Drink it up, you earned it and you should be extremely proud! Many millionaires are given their millions, others are provided an easy stepping stone, but for those that truly work and sacrifice, it is a worthy and noble accomplishment! Woohoo for you :sharebeer :beer
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Re: Two Comma Club

Postby sscritic » Wed Jan 23, 2013 11:14 pm

peppers wrote:The first two commas are always the hardest.

And the third is easy?
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Re: Two Comma Club

Postby 64415 » Wed Jan 23, 2013 11:19 pm

Awesome! Congratulations on your discipline and hard work.
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Re: Two Comma Club

Postby mickeyd » Wed Jan 23, 2013 11:21 pm

ResNullius wrote:
mickeyd wrote:Don't get too excited about such short-term accomplishments as they can go away just as quickly.

Oh, come on! It's a great accomplishment, regardless of whether tomorrow's market takes him slighly below his current level. Reaching 7 figures is a huge milestone for anyone who works for a living. Congrats, a huge congrats.



Just trying to add a dose of reality to the thread. Of course it is a great individual accomplishment. I cannot recall when I crossed that magical barrier so it must not have been that important in the long-run.
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Re: Two Comma Club

Postby khh » Thu Jan 24, 2013 1:51 am

A comma here, a comma there, pretty soon you're talking real money:)
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Re: Two Comma Club

Postby og15F1 » Thu Jan 24, 2013 2:11 am

Congratulations :moneybag :moneybag :moneybag
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Re: Two Comma Club

Postby BHCadet » Thu Jan 24, 2013 2:43 am

This is a big milestone.
Congrats on your success.
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Re: Two Comma Club

Postby Sunflower » Thu Jan 24, 2013 3:46 am

Congratulations!

I hope to join your club some day.

:sharebeer
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Re: Two Comma Club

Postby stemikger » Thu Jan 24, 2013 7:09 am

Congratulations!!! You have every right to be proud.

Although I'm not in the 2 comma club YET. I paid off my mortgage this year and the emotional satisfaction of hitting these goals are worth all the delayed gratification in the world.

I will definitely post when I hit the 2 comma club.

The only thing is I might go for lobster instead. : )

Thanks for posting this, it really encourages others.

P.S. While 99% on these boards offered their congratulations when I posted about paying off my home, there was that 1% who were negative and tried to squash the excitement I felt. Ignore those people, I call the dream stealers.
Stay the Course!
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Re: Two Comma Club

Postby TRC » Thu Jan 24, 2013 8:22 am

That's awesome! Hopefully making it to 2M will take you a lot less time than it took to get to 1m.

I hope to be where you are in a few years.
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Re: Two Comma Club

Postby Frugaldude » Thu Jan 24, 2013 9:08 am

Congratulations! ツ
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Re: Two Comma Club

Postby exoilman » Thu Jan 24, 2013 9:15 am

I remember it well, stay the course! :sharebeer

regards
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Re: Two Comma Club

Postby lwfitzge » Thu Jan 24, 2013 9:20 am

Congrats! It's a big deal. With compounding on your side, multiple $M are within reach. It's more than a number, this financial milestone begins to afford you options, flexibility. For me, I reached $2M at 48 yrs of age last year and decided to quit an executive position that kept me away (except for weekends) from my family for almost 4 years. I now work from home w scaled back professional responsibilities. I also gratefully attribute much of my success in managing my own money to this group and Jack. Enjoy!!
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Re: Two Comma Club

Postby sscritic » Thu Jan 24, 2013 9:29 am

lwfitzge wrote:Congrats! It's a big deal.

I actually think 2 to the 20th is a bigger deal that 10 to the 6th. In fact, it's not just a matter of my opinion; it's mathematics.

P.S. Think about your hard drive. Think about false advertising.
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Re: Two Comma Club

Postby HueyLD » Thu Jan 24, 2013 9:43 am

sscritic wrote:
peppers wrote:The first two commas are always the hardest.

And the third is easy?

I dare to say that the third comma can be accomplished in another currency.
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Re: Two Comma Club

Postby midareff » Thu Jan 24, 2013 9:48 am

Congratulations. :moneybag The next fun step is a 1,1 then 1,2 ..... :mrgreen:
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Re: Two Comma Club

Postby sscritic » Thu Jan 24, 2013 9:59 am

Getting from 0 commas to 1 comma is saving part of one paycheck, with no investing.
Getting from 1 comma to 2 commas is mostly saving with a little investing thrown in.
Getting from 2 commas to 3 commas is almost all investing. Who can save $999,000,000 from their paycheck?

If you are ever to get to 3 commas, you really have to concentrate on your investing. Saving won't really help anymore.
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Re: Two Comma Club

Postby JPH » Thu Jan 24, 2013 10:07 am

Congratulations on this major milestone. Not many have the discipline to stay the course the way you have done. You didn't inherit it, did you? :beer
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Never forget.

Postby Taylor Larimore » Thu Jan 24, 2013 11:20 am

Carl:

Congratulations on accumulating a one-million dollar net worth!

The first part of our investment life is accumulating to meet our life goals.
The second part of our investment life is not to lose what we accumulated.

Best wishes.
Taylor
"Simplicity is the master key to financial success." -- Jack Bogle
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Re: Two Comma Club

Postby Grt2bOutdoors » Thu Jan 24, 2013 11:23 am

sscritic wrote:Getting from 0 commas to 1 comma is saving part of one paycheck, with no investing.
Getting from 1 comma to 2 commas is mostly saving with a little investing thrown in.
Getting from 2 commas to 3 commas is almost all investing. Who can save $999,000,000 from their paycheck?

If you are ever to get to 3 commas, you really have to concentrate on your investing. Saving won't really help anymore.


Investing or speculating? Use of leverage is much like playing with a sword - the road is littered with those who have crashed and burned.
"Luck is not a strategy" Asking Portfolio Questions
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Re: Two Comma Club

Postby Confused » Thu Jan 24, 2013 12:07 pm

Congratulations. You have won the game.
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Re: Two Comma Club

Postby linuxuser » Thu Jan 24, 2013 12:12 pm

Congratulations!

It is a big deal. Because it says you are the M word. Even these days, that word still grabs people's attention.
It does mine.
Last edited by linuxuser on Thu Jan 24, 2013 12:40 pm, edited 1 time in total.
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Re: Two Comma Club

Postby mptfan » Thu Jan 24, 2013 12:14 pm

Congratulations, that is a great accomplishment! Would you be willing to share more details of how you got there? For example, at what age did you start? How long did it take? Did you get any windfalls, like an inheritance or gifts?
I eat risk for breakfast. :)
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Re: Two Comma Club

Postby nepats » Thu Jan 24, 2013 12:17 pm

Congrats and welcome! Stay the course...
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Re: Two Comma Club

Postby moneywise3 » Thu Jan 24, 2013 12:19 pm

Congratulations!!
I am working on mine.
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Re: Two Comma Club

Postby BigFoot48 » Thu Jan 24, 2013 12:33 pm

This topic always makes me recall my wife and my days in the no-comma club, and then the intervening 30 years to get to the two comma club. Keeps things in perspective, and helps stay the course.
Retired | Two-time Top-10 Diehard S&P500 Picker; Nine-Time Loser
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Re: Two Comma Club

Postby robocop » Thu Jan 24, 2013 12:43 pm

mptfan wrote:Congratulations, that is a great accomplishment! Would you be willing to share more details of how you got there? For example, at what age did you start? How long did it take? Did you get any windfalls, like an inheritance or gifts?


I would also love to hear more details. I recently just joined a different club (the positive net worth club) after aggressively paying down my student loans for 3 1/2 years, and am always inspired by stories of people who are at a different stage than I am. It helps me "stay the course"!

And, btw, CONGRATS!! What a milestone :).
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Re: Two Comma Club

Postby shainy » Thu Jan 24, 2013 12:46 pm

Congratulations on your big achievement!
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Re: Two Comma Club

Postby kenyan » Thu Jan 24, 2013 12:57 pm

Congratulations; I have a long way to go but know I'll join you someday. One comma and a decimal point doesn't quite garner the same excitement.
Retirement investing is a marathon.
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Re: Two Comma Club

Postby cinghiale » Thu Jan 24, 2013 1:14 pm

Jerry (NAVigator) suggested:
After your steak dinner, consider opening a bottle of Bogle wine and raising a toast to the person who motivated this forum.

May I second that and further suggest that you make it a bottle of Bogle Phantom? It's an under $20.00 wine that drinks like a $75.00+ one. You have reason to celebrate, and I like the symbolism of sipping not only a botle of Bogle, but the top-of-the-line offering.

Congrats!
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Re: Two Comma Club

Postby bogleblitz » Thu Jan 24, 2013 1:17 pm

Could you give abit more story on how you reach it? Like when did you start saving, average returns, asset allocation?
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Re: Two Comma Club

Postby VictoriaF » Thu Jan 24, 2013 1:43 pm

Does collecting commas fall under:
- That Frugal Thing You Do ? or
- That Extravagant Thing You Do(*) ?

Victoria

(*) Extravagant as in the 3rd, 4th, etc., commas.
Last edited by VictoriaF on Thu Jan 24, 2013 1:46 pm, edited 1 time in total.
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Any mistakes ?

Postby Taylor Larimore » Thu Jan 24, 2013 1:46 pm

bogleblitz wrote:Could you give a bit more story on how you reached it? Like when did you start saving, average returns, asset allocation?


And tell us about your mistakes along the way. We often learn more from our mistakes than our successes.

Thank you and best wishes.
Taylor
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