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Millionaire Next Door (Thank you Bogleheads)

Posted: Thu Oct 05, 2017 11:42 am
by B. Wellington
With the help of many on this board and reminding me "to stay the coarse," Mrs. and Mr. B. Wellington quietly became the Millionaires Next door last month. Yes, a strong bull market helped us to this level.

Some of you know that we are not doctors or high paid engineers. We are Joe and Jane Lunchbox in blue collar positions who grew up in a small Midwestern town that most have never heard of.

This comes somewhat bitter-sweet, let me explain. My biggest supporter and "cheerleader," my mother, passed away last year. She often reminded me that at age 8 or 9 I said that I wanted to become a "millionaire" before I reached 50. I was 6 years late to the party, however she knew how hard I had worked and saved. She also knew I had (a few) investments.

We are very private people and to share this with others in the family or friends would be asking for trouble. The looks (we don't "fit" the millionaire myth.) Also the jealously, guilt trips etc. is not worth the pain it may cause.

So with that Bogleheads, please help me raise a glass in honor of my mom and help me quietly celebrate this milestone 48 years in the making...Cheers!

B. Wellington

Re: Millionaire Next Door (Thank you Bogleheads)

Posted: Thu Oct 05, 2017 11:45 am
by highercall
Congratulations to the club....thanks for sharing.

Re: Millionaire Next Door (Thank you Bogleheads)

Posted: Thu Oct 05, 2017 11:46 am
by Slothmeister
Cheers to you and your mom!

Re: Millionaire Next Door (Thank you Bogleheads)

Posted: Thu Oct 05, 2017 11:46 am
by MathWizard
Congrats!

Sorry to hear about your mother.

Re: Millionaire Next Door (Thank you Bogleheads)

Posted: Thu Oct 05, 2017 11:46 am
by JBTX
Congrats! I'm sure she would have been quite proud of your accomplishments!

Re: Millionaire Next Door (Thank you Bogleheads)

Posted: Thu Oct 05, 2017 11:57 am
by gowest
I love this sort of story. I read that book many years ago (Millionaire Next Door), and it's always great to hear about someone who has successfully accomplished what the book describes (since, as you know from the book, you wouldn't otherwise be able to tell just by judging how someone looks or what car they drive, etc.). A very sincere congrats to you and the Mrs. Now keep at it.
:sharebeer

Re: Millionaire Next Door (Thank you Bogleheads)

Posted: Thu Oct 05, 2017 12:02 pm
by Grt2bOutdoors
Congratulations to you and your mother! :sharebeer Inspiring to hear stories like this. My condolences on your loss.
Have the book and still peruse it from time to time. The message never gets old.

Re: Millionaire Next Door (Thank you Bogleheads)

Posted: Thu Oct 05, 2017 12:06 pm
by djpeteski
Hero! Great work! :sharebeer

Re: Millionaire Next Door (Thank you Bogleheads)

Posted: Thu Oct 05, 2017 12:12 pm
by Olemiss540
Fantastic! Any sage advice from your experience building the 7 figures in blue collar jobs, any stories on things that tried to derail your progress and how you navigated it?

I am sure mom is proud!

Re: Millionaire Next Door (Thank you Bogleheads)

Posted: Thu Oct 05, 2017 12:12 pm
by Maya1234
Congrats! You should be so proud!!

I would find it so hard to be keeping my financial situation a secret from family and close friends. I'm lucky because I don't need to. Our family is all in similiar circumstances. We thus can discuss strategies and investment advice. My friends at work have done work on my family's estate so they know what I have and I can have similiar discussions with them. My other friends are in situations where while I don't directly discuss it, I wouldn't be worried for them to know. They all are well off.

My brother has some in-laws ( not this wife's parents but her First cousins who she is very close to ) who are in a very difffernt situation. They almost lost their home last year. My brother was not going to let that happen and paid off their mortgage which was about 79K They were very grateful and said something to her mom like " wow are you sure. Does he have like hundreds of thousands of dollars ? We don't want to have them hurting .") My brother ( and his MIL) assured them he would be fine but was not going to tell them he has millions.

Re: Millionaire Next Door (Thank you Bogleheads)

Posted: Thu Oct 05, 2017 12:30 pm
by rg422
Congrats!!

Posts like this keep us motivated. We're a long way from that number, but we're staying the course til we get there.

Re: Millionaire Next Door (Thank you Bogleheads)

Posted: Thu Oct 05, 2017 12:35 pm
by TravelforFun
Congratulations! Hope you come back here in a few years and declare, 'I'm a multimillionaire.'.

Re: Millionaire Next Door (Thank you Bogleheads)

Posted: Thu Oct 05, 2017 12:49 pm
by Sandtrap
Congratulations from a fellow "joe blue collar".
Doing it the tough way. You made it.
:sharebeer

Re: Millionaire Next Door (Thank you Bogleheads)

Posted: Thu Oct 05, 2017 1:06 pm
by DarthSage
Congratulations! I'm sure your mom is very proud, looking down at you. :beer

We also "live next door", and like you, can't talk about it. Well, I can with my sister--she also "lives next door". Our brothers have no clue.

When we hit the milestone, DH and I made a pact not to tell anyone. But a couple weeks ago, he confessed that he let it slip to his brother. Their mom died a couple months ago, and BIL mentioned that, when the inheritance came through, they'd each be millionaires. DH couldn't resist, and said that he already was. I don't really blame him, though--all his life, DH has been treated like the "stupid little brother", and BIL thought he was a big wheeler-dealer investor. Of course, BIL was always chasing trends, trying to time the market, etc., while we went the slow and steady route.

Re: Millionaire Next Door (Thank you Bogleheads)

Posted: Thu Oct 05, 2017 1:20 pm
by Fire2030
Congratulations !!

Great story , your mum will be proud !! :sharebeer

Re: Millionaire Next Door (Thank you Bogleheads)

Posted: Thu Oct 05, 2017 1:28 pm
by onthecusp
Yay for the Wellington's! :sharebeer
Sounds like you started early as a smart investor. :P

Re: Millionaire Next Door (Thank you Bogleheads)

Posted: Thu Oct 05, 2017 1:30 pm
by jfn111
Congrats :sharebeer

Re: Millionaire Next Door (Thank you Bogleheads)

Posted: Thu Oct 05, 2017 1:49 pm
by jornsy
Congratulations!

It is a wonderful feeling to see two commas in your investment account. I'm 53 now and hoping we can double it before I retire in seven years. Our secret was living below our means and investing at least 50% of every raise I received over a 20 year period. We started out small, $200/month, but it adds up over time and having good diligence for saving/investing.

Here's to Future Financial Freedom :sharebeer

Re: Millionaire Next Door (Thank you Bogleheads)

Posted: Thu Oct 05, 2017 2:24 pm
by TD2626
Congratulations - and this is how it's done! By quietly working hard, saving a lot, and investing wisely, nearly anyone can secure their financial future. It's great that you're one of the few to do this successfully!

Re: Millionaire Next Door (Thank you Bogleheads)

Posted: Thu Oct 05, 2017 3:22 pm
by czeckers
Congratulations!

Out of curiosity, do you own shares of the VG Wellington fund?

Re: Millionaire Next Door (Thank you Bogleheads)

Posted: Thu Oct 05, 2017 3:26 pm
by bligh
Congratulations to you and the wife... and your mother. I am sure she is up there looking down upon you right now with pride in her eyes and a smile on her face.

Good job and keep at it! :) Best of luck!

Re: Millionaire Next Door (Thank you Bogleheads)

Posted: Thu Oct 05, 2017 3:26 pm
by ruralavalon
Congratulations :D .

Re: Millionaire Next Door (Thank you Bogleheads)

Posted: Thu Oct 05, 2017 3:31 pm
by 2b2
Well done!
Congratulations to you and here's to your Mom!

2b2

Re: Millionaire Next Door (Thank you Bogleheads)

Posted: Thu Oct 05, 2017 3:45 pm
by retire57
Yay!!! :beer

BTW, folks always refer to "The Millionaire Next Door", but rarely to Dr. Stanley's other researched-based work "Stop Acting Rich". The latter is an even more informative read, IMO.

Re: Millionaire Next Door (Thank you Bogleheads)

Posted: Thu Oct 05, 2017 3:55 pm
by RudyS
Congratulations! :sharebeer

Re: Millionaire Next Door (Thank you Bogleheads)

Posted: Thu Oct 05, 2017 4:06 pm
by Texanbybirth
Congratulations!

(It's great to have a place like this to anonymously celebrate milestones.)

Re: Millionaire Next Door (Thank you Bogleheads)

Posted: Thu Oct 05, 2017 4:15 pm
by Ice-9
retire57 wrote:
Thu Oct 05, 2017 3:45 pm
Yay!!! :beer

BTW, folks always refer to "The Millionaire Next Door", but rarely to Dr. Stanley's other researched-based work "Stop Acting Rich". The latter is an even more informative read, IMO.
Congrats to the OP, and thanks for the recommendation to retire57!

:sharebeer

Re: Millionaire Next Door (Thank you Bogleheads)

Posted: Thu Oct 05, 2017 4:18 pm
by ruralavalon
retire57 wrote:
Thu Oct 05, 2017 3:45 pm
Yay!!! :beer

BTW, folks always refer to "The Millionaire Next Door", but rarely to Dr. Stanley's other researched-based work "Stop Acting Rich". The latter is an even more informative read, IMO.
Thanks for the book recommendation, I just bought Stop Acting Rich.

Re: Millionaire Next Door (Thank you Bogleheads)

Posted: Thu Oct 05, 2017 4:23 pm
by Helo80
Congrats!!!

I'll have to look up Stop Acting Rich.

Re: Millionaire Next Door (Thank you Bogleheads)

Posted: Thu Oct 05, 2017 4:26 pm
by dewey
Always great hearing the two comma news. Good for you!!!

Re: Millionaire Next Door (Thank you Bogleheads)

Posted: Thu Oct 05, 2017 4:34 pm
by TheHouse7
:beer My mother had supported me in the same way, she is 3 years past.

Re: Millionaire Next Door (Thank you Bogleheads)

Posted: Thu Oct 05, 2017 4:36 pm
by dratkinson
Congratulations. The first million is the hardest... or so I've been told. One day.

Re: Millionaire Next Door (Thank you Bogleheads)

Posted: Thu Oct 05, 2017 4:44 pm
by ChowYunPhat
Congratulations! This is a great feeling and it's great that you can celebrate with fellow BHs. Keep staying the course and watch out for lifestyle creep. It's OK to celebrate a little though :sharebeer

It's a great reminder to me and others why we stay focused. Keep up the great work!

Re: Millionaire Next Door (Thank you Bogleheads)

Posted: Thu Oct 05, 2017 4:52 pm
by Johnsson
:sharebeer Congratulations!!!

Re: Millionaire Next Door (Thank you Bogleheads)

Posted: Thu Oct 05, 2017 5:16 pm
by jmndu99
Congratulations Op

Thank you for sharing with us fellow Bogle heads. The Mrs and I are also "lunchbox" (love that BTW).

Your story is inspiring.

James

Re: Millionaire Next Door (Thank you Bogleheads)

Posted: Thu Oct 05, 2017 5:58 pm
by retire57
Ice-9 wrote:
Thu Oct 05, 2017 4:15 pm
retire57 wrote:
Thu Oct 05, 2017 3:45 pm
Yay!!! :beer

BTW, folks always refer to "The Millionaire Next Door", but rarely to Dr. Stanley's other researched-based work "Stop Acting Rich". The latter is an even more informative read, IMO.
Congrats to the OP, and thanks for the recommendation to retire57!

:sharebeer
The author's findings and recommendations will keep a Boglehead motivated for sure! :happy

Re: Millionaire Next Door (Thank you Bogleheads)

Posted: Thu Oct 05, 2017 6:17 pm
by DanMahowny
Well done! And thank you for sharing your story. Good stuff.

R.I.P. Mom

Re: Millionaire Next Door (Thank you Bogleheads)

Posted: Thu Oct 05, 2017 6:30 pm
by mattyfu1
Amazing and inspiring!! Thank you for the share - working my way !

Side note question: Entering the "Millionaire Next store" club :

-Is this a liquid million (cash, stocks) ?
-Can it also include real estate (paid off or not), trusts or other assets that are paid off?

Maybe there is no real definition, just wanted to ask.

Thanks!

-MattyFu

Re: Millionaire Next Door (Thank you Bogleheads)

Posted: Thu Oct 05, 2017 6:37 pm
by Mel Lindauer
Congrats on that great achievement. You're an inspiration to others who are working to achieve that second comma.

I have no doubt your Mom is up in Heaven, proudly bragging to anyone who will listen as she points at you and says "That's my son and he's a millionaire!".

Well done. You should be proud of your accomplishment.

Re: Millionaire Next Door (Thank you Bogleheads)

Posted: Thu Oct 05, 2017 6:57 pm
by blueblock
That's a lovely story, thanks for sharing.

Re: Millionaire Next Door (Thank you Bogleheads)

Posted: Thu Oct 05, 2017 7:06 pm
by Raymond
Outstanding!!! :sharebeer

Sorry about your mother, but she did raise you well :happy

Re: Millionaire Next Door (Thank you Bogleheads)

Posted: Thu Oct 05, 2017 7:11 pm
by KlangFool
OP,

Congratulation! Your story proves the point that you do not need high income in order to reach millionaire status.

I bought the book, "Millionaire Next Door" on clearance and gave them out regularly.

KlangFool

Re: Millionaire Next Door (Thank you Bogleheads)

Posted: Thu Oct 05, 2017 7:42 pm
by Compound
Well done and well said. Congratulations on passing the milestone you set so many years ago! :beer

Re: Millionaire Next Door (Thank you Bogleheads)

Posted: Thu Oct 05, 2017 8:05 pm
by joe8d
dratkinson wrote:
Thu Oct 05, 2017 4:36 pm
Congratulations. The first million is the hardest... or so I've been told. One day.
Yes, the 2nd sneaks up on you.

Re: Millionaire Next Door (Thank you Bogleheads)

Posted: Thu Oct 05, 2017 8:55 pm
by CyclingDuo
B. Wellington wrote:
Thu Oct 05, 2017 11:42 am
So with that Bogleheads, please help me raise a glass in honor of my mom and help me quietly celebrate this milestone 48 years in the making...Cheers!
Cheers! Here's to you doubling that amount - be it 7 years, 10 years, 12 years or whatever it takes.

Yes, brand of booze chosen appropriately for this toast. And yes, it's live as I type this.

Image

Re: Millionaire Next Door (Thank you Bogleheads)

Posted: Thu Oct 05, 2017 8:59 pm
by DriveMyPrius
Congratulations! :happy
So sorry about the loss of your Mom. I miss mine terribly.

Re: Millionaire Next Door (Thank you Bogleheads)

Posted: Thu Oct 05, 2017 9:06 pm
by abuss368
B. Wellington wrote:
Thu Oct 05, 2017 11:42 am
With the help of many on this board and reminding me "to stay the coarse," Mrs. and Mr. B. Wellington quietly became the Millionaires Next door last month. Yes, a strong bull market helped us to this level.

Some of you know that we are not doctors or high paid engineers. We are Joe and Jane Lunchbox in blue collar positions who grew up in a small Midwestern town that most have never heard of.

This comes somewhat bitter-sweet, let me explain. My biggest supporter and "cheerleader," my mother, passed away last year. She often reminded me that at age 8 or 9 I said that I wanted to become a "millionaire" before I reached 50. I was 6 years late to the party, however she knew how hard I had worked and saved. She also knew I had (a few) investments.

We are very private people and to share this with others in the family or friends would be asking for trouble. The looks (we don't "fit" the millionaire myth.) Also the jealously, guilt trips etc. is not worth the pain it may cause.

So with that Bogleheads, please help me raise a glass in honor of my mom and help me quietly celebrate this milestone 48 years in the making...Cheers!

B. Wellington
Hi B. Wellington -

Congrats on your achievement and rest assured your Mom would be proud!

Best.

Re: Millionaire Next Door (Thank you Bogleheads)

Posted: Thu Oct 05, 2017 9:06 pm
by abuss368
B. Wellington wrote:
Thu Oct 05, 2017 11:42 am
With the help of many on this board and reminding me "to stay the coarse," Mrs. and Mr. B. Wellington quietly became the Millionaires Next door last month. Yes, a strong bull market helped us to this level.

Some of you know that we are not doctors or high paid engineers. We are Joe and Jane Lunchbox in blue collar positions who grew up in a small Midwestern town that most have never heard of.

This comes somewhat bitter-sweet, let me explain. My biggest supporter and "cheerleader," my mother, passed away last year. She often reminded me that at age 8 or 9 I said that I wanted to become a "millionaire" before I reached 50. I was 6 years late to the party, however she knew how hard I had worked and saved. She also knew I had (a few) investments.

We are very private people and to share this with others in the family or friends would be asking for trouble. The looks (we don't "fit" the millionaire myth.) Also the jealously, guilt trips etc. is not worth the pain it may cause.

So with that Bogleheads, please help me raise a glass in honor of my mom and help me quietly celebrate this milestone 48 years in the making...Cheers!

B. Wellington
P.S. Remember after one comes two!

Re: Millionaire Next Door (Thank you Bogleheads)

Posted: Thu Oct 05, 2017 10:53 pm
by slowbutsteady
Congratulations!!...and thanks for sharing your inspiring story. Not an easy road, but shows the power of a clear goal, determination, and persistence.

You have made your mom proud too.

Re: Millionaire Next Door (Thank you Bogleheads)

Posted: Thu Oct 05, 2017 11:12 pm
by pptiger
Thanks for sharing...this made me call my mom

Congratulations!