Two Comma Club

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Re: Two Comma Club

Postby VictoriaF » Mon Jan 28, 2013 8:50 am

sscritic wrote:
TravelforFun wrote:No no no! From a financial standpoint, one comma represents any number that contains one comma; Hence the range $1,000 to $99,000. Therefore, negative one comma is any number from -$1,000 to -$99,000.

I do my finances in excel. In excel, there is no such thing as a one comma number; all numbers have zero commas. I type in 100000000 and excel knows what to do.


You cannot input commas into Excel formulas, but you can configure how the computed numbers are displayed in the cells. But you already know that.

Victoria
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Re: Two Comma Club

Postby sscritic » Mon Jan 28, 2013 8:57 am

I often do my work without using commas in the display. Here are the numbers of shares I own in various mutual funds copied directly from my spreadsheet:

4048.670
2398.428
864.376
527.4416
349.0841
998.4090
283.8520
1210.8618
1444.522
9167.400
4670.581
4001.251

There isn't a comma in sight. For those who might be wondering, mutual funds and share holdings are within the realm of finances. Note: I do align the comma in the display.
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Re: Two Comma Club

Postby sscritic » Mon Jan 28, 2013 9:01 am

More "financial" commas:

Most financial statements remove one or two commas and report results in thousands and millions. From the prospectus:
Net Assets, End of Period (Millions) $4,819

Only one comma for 4 billion dollars.
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Re: Two Comma Club

Postby VictoriaF » Mon Jan 28, 2013 9:02 am

sscritic wrote:More "financial" commas:

Most financial statements remove one or two commas and report results in thousands and millions. From the prospectus:
Net Assets, End of Period (Millions) $4,819

Only one comma for 4 billion dollars.


It's a psychological trick to avoid comma envy.

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Re: Two Comma Club

Postby HueyLD » Mon Jan 28, 2013 9:17 am

All these "comma" posts really make me feel bad about being in a "no comma" club. :shock:
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Re: Two Comma Club

Postby FedGuy » Mon Jan 28, 2013 9:26 am

SGM wrote:FedGuy... well noted. Might you be a little :wink: obsessive-compulsive? H is also not a home key.


I'm a little obsessive-compulsive, and I did note the thing about the H key. But I took typing myself and clearly remember the teacher repeating, over and over and over again, the home keys in order, three times each, much as your teacher did. It ended with, "jjj space kkk space lll space semi semi semi space [pause] -- Return!"
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Re: Two Comma Club

Postby VictoriaF » Mon Jan 28, 2013 9:26 am

HueyLD wrote:All these "comma" posts really make me feel bad about being in a "no comma" club. :shock:

Don't feel bad. Comma avoidance is a sign of independent thinking and a contrarian spirit :wink: .

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Re: Two Comma Club

Postby Grt2bOutdoors » Mon Jan 28, 2013 9:34 am

In Zimbabwe, most are in the 4+ comma club. I hope we don't go down the path of needing to spend 2 commas to buy a loaf of bread. :oops:
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Re: Two Comma Club

Postby peppers » Mon Jan 28, 2013 9:36 am

sscritic wrote:
TravelforFun wrote:No no no! From a financial standpoint, one comma represents any number that contains one comma; Hence the range $1,000 to $99,000. Therefore, negative one comma is any number from -$1,000 to -$99,000.

I do my finances in excel.

I do my finances using my old TI calc, spiral notebook, and no.2 pencil w/eraser. It helps with my hand eye coordination. Cognitive decline and all that.
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Re: Two Comma Club

Postby livesoft » Tue Jan 29, 2013 4:46 am

There's another Two Comma Club. How many of y'all have lost a Two Comma amount in the stock market?
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 VictoriaF » Fri Feb 01, 2013 7:12 pm

How many new commas have we acquired after today's market rise?

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Re: Two Comma Club

Postby Dale_G » Fri Feb 01, 2013 7:36 pm

VictoriaF wrote:How many new commas have we acquired after today's market rise?

Victoria


A 2 comma loss or gain is mere noise in some 2 comma portfolios. To some it is a rounding error.

But, I will take what I can get, rounding error or no.

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Re: Two Comma Club

Postby gkaplan » Fri Feb 01, 2013 8:05 pm

VictoriaF wrote:How many new commas have we acquired after today's market rise?

Victoria


I am very close.
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Re: Two Comma Club

Postby ResNullius » Fri Feb 01, 2013 9:01 pm

livesoft wrote:There's another Two Comma Club. How many of y'all have lost a Two Comma amount in the stock market?

I lost two commas on paper during the 2008-2009 crash, but I didn't sell, and I've recouped all of the losses, plus a nice additional amount. Buy and hold is the way to go.
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Re: Two Comma Club

Postby stilts1007 » Fri Feb 01, 2013 9:04 pm

robocop wrote: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"!


Am a couple years ahead of you..it isn't always fun when your post-college friends are living it up on borrowed money while you are paying off loans with every paycheck, but trust me, I think it will make the next 40 or 50 years a lot easier. In 5 or 10 years you will be the one they come to for money advice.
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Re: Two Comma Club

Postby Grt2bOutdoors » Fri Feb 01, 2013 9:20 pm

stilts1007 wrote:
robocop wrote: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"!


Am a couple years ahead of you..it isn't always fun when your post-college friends are living it up on borrowed money while you are paying off loans with every paycheck, but trust me, I think it will make the next 40 or 50 years a lot easier. In 5 or 10 years you will be the one they come to for money advice.


No, they will likely come to him for :moneybag
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Re: Two Comma Club

Postby cherijoh » Fri Feb 01, 2013 9:57 pm

Joe S. wrote:Congratulations.
Buy one of these on E-bay and you can be in the 4 comma club...
Image

http://www.ebay.com/itm/100-Trillion-Zi ... 19d83a8947


This reminds me of a business trip I took to Argentina during their hyperinflationary period in the early 90s. I stayed in a nice (but by no means extravagant) hotel in Buenos Aires and had a bill of over 1,500,000 Australs per night. Yikes! And the rate was re-computed each night since the MONTHLY inflation rate was in the double digits edging up towards the triple digits.
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Re: Two Comma Club

Postby FedGuy » Fri Feb 01, 2013 11:34 pm

I realize the whole "two comma club" thing is just a fun shorthand for having a certain level of assets, but when people think of the term that way, to what extent do they account for whether or not the money is in a retirement account?

I'm not a member of the two comma club, and wouldn't say that I'm close, but I would say that I'm close to being close, and I can see some plausible scenarios that might get me there in the next 5-10 years. But with roughly 40% of my assets currently in 401(k)s and Roth IRAs, I almost feel like I'll consider it a larger milestone when I reach $1,000,000 excluding my retirement accounts--that is, having $1,000,000 in my savings account and regular brokerage accounts--than when I reach $1,000,000 counting everything. Does anyone else feel that way?
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Re: Two Comma Club

Postby linuxuser » Fri Feb 01, 2013 11:45 pm

I don't differentiate between 401K + IRA and taxable accounts.
It is all money and all yours.
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Re: Two Comma Club

Postby Bacchus01 » Sat Feb 02, 2013 1:27 am

We joined the 2-comma club in 2007. I was 33 at the time.

Then the meltdown occurred and we lost 40% by 2009. Ouch.

It took us until early 2012 to rejoin the club and have been riding out of it pretty consistently since.

From 2009 to 2012 our net worth nearly doubled. We're running at a 19% CAGR steadily for the last 14 months.
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Re: Two Comma Club

Postby Bacchus01 » Sat Feb 02, 2013 1:32 am

FedGuy wrote:I realize the whole "two comma club" thing is just a fun shorthand for having a certain level of assets, but when people think of the term that way, to what extent do they account for whether or not the money is in a retirement account?

I'm not a member of the two comma club, and wouldn't say that I'm close, but I would say that I'm close to being close, and I can see some plausible scenarios that might get me there in the next 5-10 years. But with roughly 40% of my assets currently in 401(k)s and Roth IRAs, I almost feel like I'll consider it a larger milestone when I reach $1,000,000 excluding my retirement accounts--that is, having $1,000,000 in my savings account and regular brokerage accounts--than when I reach $1,000,000 counting everything. Does anyone else feel that way?



Hmm. I include everything in our net worth. Our home equity in 2 homes, retirement, and after tax. Even our cars (which I depreciate 2 X a year).

I can see where that 2-comma in non-retirement accounts would be good. However, I look at my non-home equity as BEING my retirement accounts, whether tax advantaged or otherwise. That said, about 50% of my non-equity net worth is in taxable indexes or individual stocks. And it is growing significantly faster than the tax preferred "retirement" accounts.

I'm shooting for 2.1 commas, which we should hit by the end of 2015 if things stay on track.
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Re: Two Comma Club

Postby Rajsx » Sat Feb 02, 2013 12:33 pm

Congratulations !!!

The next comma will be easier than the first one.

Way to go
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Re: Two Comma Club

Postby tadamsmar » Sat Feb 02, 2013 12:44 pm

My retirement fund has joined the Two Comma Club at least twice, perhaps more times I did not notice.
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Re: Two Comma Club

Postby Default User BR » Sat Feb 02, 2013 12:58 pm

ResNullius wrote:I lost two commas on paper during the 2008-2009 crash

Presumably you mean that your losses had two commas, not that your losses were such that you went from holdings that had N commas to ones with N-2 commas.


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Re: Two Comma Club

Postby baw703916 » Sat Feb 02, 2013 2:16 pm

If I have only one comma, do I need to worry about it getting lonely :?:
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Re: Two Comma Club

Postby VictoriaF » Sat Feb 02, 2013 5:48 pm

baw703916 wrote:If I have only one comma, do I need to worry about it getting lonely :?:


You need to worry about missing an opportunity to have two large loving commas and many little ones.

Victoria
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Re: Two Comma Club

Postby baw703916 » Sat Feb 02, 2013 6:25 pm

Joe S. wrote:Congratulations.
Buy one of these on E-bay and you can be in the 4 comma club...
Image

http://www.ebay.com/itm/100-Trillion-Zi ... 19d83a8947


Oddly enough, there aren't any commas on the bills
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Re: Two Comma Club

Postby steve roy » Sat Feb 02, 2013 6:32 pm

I can tell you MY mistake.

Having a broker/manager who took 2% off the top for twenty years. If I had been a Boglehead then (1970s, 1980s, 1990s) I would have been far better off. Happily, I was not stupid forever, just a quarter of a century.
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Re: Two Comma Club

Postby mm9811 » Sat Feb 02, 2013 7:55 pm

steve roy wrote:I can tell you MY mistake.

Having a broker/manager who took 2% off the top for twenty years. If I had been a Boglehead then (1970s, 1980s, 1990s) I would have been far better off. Happily, I was not stupid forever, just a quarter of a century.


Wow, Ive been stupid for nearly 40years (but only at 1%) so am I more or less stupid? Or More stupid and cheaper? I'll have to think that over! :oops:
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Re: Two Comma Club

Postby mickeyd » Sat Feb 02, 2013 8:41 pm

steve roy wrote:I can tell you MY mistake.

Having a broker/manager who took 2% off the top for twenty years. .



Yea, but think about how well he was able to provide for his family. There's that... 8-)
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Re: Two Comma Club

Postby Rajsx » Sun Apr 14, 2013 11:44 am

Whole hearted Congratulations, keep up the good work
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Re: Two Comma Club

Postby VictoriaF » Sun Apr 14, 2013 11:56 am

After a recent market rise, everyone here must be commatose.

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Re: Two Comma Club

Postby stemikger » Sun Apr 14, 2013 12:06 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!


Congratulations!!! Enjoy the steak dinner. What a great accomplishment. I am far away from that milestone, but I have the dream. Thanks for posting, it inspires others.
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Re: Two Comma Club

Postby baw703916 » Sun Apr 14, 2013 5:19 pm

VictoriaF wrote:
sscritic wrote:
TravelforFun wrote:No no no! From a financial standpoint, one comma represents any number that contains one comma; Hence the range $1,000 to $99,000. Therefore, negative one comma is any number from -$1,000 to -$99,000.

I do my finances in excel. In excel, there is no such thing as a one comma number; all numbers have zero commas. I type in 100000000 and excel knows what to do.


You cannot input commas into Excel formulas, but you can configure how the computed numbers are displayed in the cells. But you already know that.

Victoria


Here's a handy formula: If A1 is the account value, then the number of commas is =INT(LOG10(A1)/3)

Happy commas to all!

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Re: Two Comma Club

Postby reggiesimpson » Sun Apr 14, 2013 6:45 pm

A little less pain in the belly......yes?
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Re: Two Comma Club

Postby Boglenaut » Sun Apr 14, 2013 9:09 pm

baw703916 wrote:
Here's a handy formula: If A1 is the account value, then the number of commas is =INT(LOG10(A1)/3)


Makes intuitive sense, and I tested it in Open Office with various values and it seems to work (but not valid for negative numbers, so stay out of debt to use Boglehead formulas... maybe =INT(LOG10(ABS(A1))/3) for debt?).
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Re: Two Comma Club

Postby baw703916 » Sun Apr 14, 2013 9:29 pm

Yes, if you're in debt, your commas will have real and imaginary parts, and will have multiple values!
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Re: Two Comma Club

Postby VictoriaF » Mon Apr 15, 2013 6:33 am

baw703916 wrote:
VictoriaF wrote:
sscritic wrote:
TravelforFun wrote:No no no! From a financial standpoint, one comma represents any number that contains one comma; Hence the range $1,000 to $99,000. Therefore, negative one comma is any number from -$1,000 to -$99,000.

I do my finances in excel. In excel, there is no such thing as a one comma number; all numbers have zero commas. I type in 100000000 and excel knows what to do.


You cannot input commas into Excel formulas, but you can configure how the computed numbers are displayed in the cells. But you already know that.

Victoria


Here's a handy formula: If A1 is the account value, then the number of commas is =INT(LOG10(A1)/3)

Happy commas to all!

Brad


Hi Brad,

Your formula computes the number of commas, which is fine. What I was alluding to is that when you try to input numbers with commas into an Excel formula, it strips commas off in the formula view. For example, if I input
= 4,000 + 5,000
Excel will change it to
= 4000 + 5000

The cell will display the result as 9000. I can then change the display to read $9,000. But when I look at the underlying formula, it's still = 4000 + 5000.

Victoria
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Re: Two Comma Club

Postby Winthorpe » Fri Oct 04, 2013 4:48 pm

A few times each year I do a quick net worth calculation. Sometime since July I find that I graduated to the 2 comma club!

Nothing fancy. Just aggressive saving, paying off debt (except mortgage), keeping costs super low with index funds/ETFs, and mostly frugal living.

My family net worth in 2006 was about zero.

I think the second million will be easier that the first.

Cheers to the helpful Boglehead community! :beer
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Re: Two Comma Club

Postby technovelist » Fri Oct 04, 2013 5:03 pm

FedGuy wrote:
SGM wrote:FedGuy... well noted. Might you be a little :wink: obsessive-compulsive? H is also not a home key.


I'm a little obsessive-compulsive, and I did note the thing about the H key. But I took typing myself and clearly remember the teacher repeating, over and over and over again, the home keys in order, three times each, much as your teacher did. It ended with, "jjj space kkk space lll space semi semi semi space [pause] -- Return!"


Unless you use the Dvorak keyboard, of course. :D
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Re: Two Comma Club

Postby travellight » Fri Oct 04, 2013 10:17 pm

A few times each year I do a quick net worth calculation


because of mint.com, I get this calculation weekly.
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Re: Two Comma Club

Postby goodenyou » Wed Oct 09, 2013 5:56 pm

peppers wrote:
sscritic wrote:
jojay wrote:My wife and I are 1.

Wait until after the divorce. Then try counting your commas.


After the divorce you might be in a coma.


You will have a hard time being in the two comma club if you are in the two mama club!
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Re: Two Comma Club

Postby Garco » Tue Oct 15, 2013 9:03 am

livesoft wrote:There's another Two Comma Club. How many of y'all have lost a Two Comma amount in the stock market?

I'm one with two in the stock portfolio of my retirement accounts. I remember the day I lost my second comma (from total investment) in 2008. With good fortune and much better management on my part, I wouldn't likely fall below 2 commas overall if the same level of crash happened this year.
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