John Bogle's home

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stemikger
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John Bogle's home

Post by stemikger » Mon Jul 25, 2016 12:24 pm

I was always fascinated how Warren Buffett never left the house he purchased in 1958 for $31,500. I was wondering if John Bogle was in the same camp and if Taylor or Mel ever visited him there.

I once heard Jack say in an interview that he and his wife were not going to take social security so he waited until he was 70 before he took it and because they live modestly they could pretty much live on social security alone. So I know Jack lives a modest lifestyle but I was wondering if his house was just as modest.

According to Celebrity net worth, he is worth $60 million.
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Re: John Bogle's home

Post by nedsaid » Mon Jul 25, 2016 12:28 pm

I think Mr. Bogle still rides the subways or he did a few years ago.
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Re: John Bogle's home

Post by 4nursebee » Mon Jul 25, 2016 12:42 pm

I read that Buffet's "old" house had an addition that included a racquetball court.
4nursebee

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Re: John Bogle's home

Post by Juniper » Mon Jul 25, 2016 12:50 pm

From a 2012 interview with Mr. Bogle:

"Q: How about investments in other areas of your life, like real estate?

A: My wife and I downsized our home in Bryn Mawr, Pennsylvania, as we got older. About five years ago we moved into a place that's about a third smaller and with much less property. I didn't take out a mortgage for it because at this point I don't have to borrow money, and I don't like to. We also have what I call our "big old Adirondack barn," which is a place that's been in my wife's family for more than 50 years. It's for ourselves and our six children and our 12 grandchildren; it's a nice refuge for them."

http://www.reuters.com/article/us-colum ... LI20120911
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Re: John Bogle's home

Post by knpstr » Mon Jul 25, 2016 12:51 pm

4nursebee wrote:I read that Buffet's "old" house had an addition that included a racquetball court.


According to his son it was in the basement, in response to a question to how extravagant they lived growing up:

"Dad had a passion for racquetball, so he had a court built, but it was tucked away in the basement. That was about it,"
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Re: John Bogle's home

Post by Taylor Larimore » Mon Jul 25, 2016 12:52 pm

stemikger wrote:I was always fascinated how Warren Buffett never left the house he purchased in 1958 for $31,500. I was wondering if John Bogle was in the same camp and if Taylor or Mel ever visited him there.

I once heard Jack say in an interview that he and his wife were not going to take social security so he waited until he was 70 before he took it and because they live modestly they could pretty much live on social security alone. So I know Jack lives a modest lifestyle but I was wondering if his house was just as modest.

According to Celebrity net worth, he is worth $60 million.


stemiker:

I have visited Jack and Eve several times. Their home is comfortable but modest in size in a well-guarded community. I never saw a servant. Eve did the cooking.

Jack gave Vanguard to its investors and he gives most of his money to charities.

Best wishes
Taylor
Last edited by Taylor Larimore on Mon Jul 25, 2016 8:17 pm, edited 1 time in total.
"Simplicity is the master key to financial success." -- Jack Bogle

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Re: John Bogle's home

Post by cmf » Mon Jul 25, 2016 12:59 pm

4nursebee wrote:I read that Buffet's "old" house had an addition that included a racquetball court.


The house was built in 1921. It was remodeled in 1989. The racquetball court is listed as an "add on" and is 1107 square feet. The house totals 5830 square feet with five bedrooms and 2.5 bathrooms. Currently valued at $706,400. It sits on 0.72 acres. Pretty humble digs for someone with the kind of money he has...
Last edited by cmf on Mon Jul 25, 2016 1:03 pm, edited 1 time in total.

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Re: John Bogle's home

Post by Toons » Mon Jul 25, 2016 1:02 pm

"I don't have to borrow money, and I don't like to"

Excellent line,,,,and oh does it ever ring so true with me :mrgreen:
"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: John Bogle's home

Post by BTDT » Mon Jul 25, 2016 1:24 pm

An article cited In a recent post cited 67,000 millionaires live in mobile homes. I suspect they chose/prefer to live-below-their-means
If past history was all that is needed to play the game of money, the richest people would be librarians.

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stemikger
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Re: John Bogle's home

Post by stemikger » Mon Jul 25, 2016 1:28 pm

Taylor Larimore wrote:
stemikger wrote:I was always fascinated how Warren Buffett never left the house he purchased in 1958 for $31,500. I was wondering if John Bogle was in the same camp and if Taylor or Mel ever visited him there.

I once heard Jack say in an interview that he and his wife were not going to take social security so he waited until he was 70 before he took it and because they live modestly they could pretty much live on social security alone. So I know Jack lives a modest lifestyle but I was wondering if his house was just as modest.

According to Celebrity net worth, he is worth $60 million.


stemiker:

I have visited Jack and Eve several times. Their home is comfortable but modest in size. I never saw a servant. Eve did the cooking.

Jack gave Vanguard to its investors and he gives most of his money to charities.

Best wishes
Taylor


Thank you Taylor for sharing your first hand account!
Choose Simplicity ~ Stay the Course!! ~ Press on Regardless!!!

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Re: John Bogle's home

Post by Engineer250 » Mon Jul 25, 2016 4:06 pm

BTDT wrote:An article cited In a recent post cited 67,000 millionaires live in mobile homes. I suspect they chose/prefer to live-below-their-means


Mobile homes in California can be pretty pricey. For many older folks it's a decently affordable option, similar to a condo, where they can have their own walls and live in a neighborhood with people their age (a lot of the mobile home parks here have minimum age requirements of 50 or 55). But it's not the dirt cheap trailer park lifestyle here that people might have in mind.

I feel like millionaire is a really misleading term these days, someone with 1.5 million could safely draw around $60k a year. Even if you add in social security, that's not going to let you buy fancy real estate in most big cities. 10 years into saving for retirement and my mortgage is still bigger than all my retirement accounts put together.
Where the tides of fortune take us, no man can know.

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Re: John Bogle's home

Post by gilgamesh » Mon Jul 25, 2016 4:31 pm

stemikger wrote:
Taylor Larimore wrote:
stemikger wrote:I was always fascinated how Warren Buffett never left the house he purchased in 1958 for $31,500. I was wondering if John Bogle was in the same camp and if Taylor or Mel ever visited him there.

I once heard Jack say in an interview that he and his wife were not going to take social security so he waited until he was 70 before he took it and because they live modestly they could pretty much live on social security alone. So I know Jack lives a modest lifestyle but I was wondering if his house was just as modest.

According to Celebrity net worth, he is worth $60 million.


stemiker:

I have visited Jack and Eve several times. Their home is comfortable but modest in size. I never saw a servant. Eve did the cooking.

Jack gave Vanguard to its investors and he gives most of his money to charities.

Best wishes
Taylor


Thank you Taylor for sharing your first hand account!


+1

LateStarter1975
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Re: John Bogle's home

Post by LateStarter1975 » Mon Jul 25, 2016 4:58 pm

Toons wrote:"I don't have to borrow money, and I don't like to"

Excellent line,,,,and oh does it ever ring so true with me :mrgreen:


One day, when my mortgage is destroyed, I will be able to say this...
Debt is dangerous...simple is beautiful

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Re: John Bogle's home

Post by bondsr4me » Mon Jul 25, 2016 6:35 pm

Taylor Larimore wrote:
stemikger wrote:I was always fascinated how Warren Buffett never left the house he purchased in 1958 for $31,500. I was wondering if John Bogle was in the same camp and if Taylor or Mel ever visited him there.

I once heard Jack say in an interview that he and his wife were not going to take social security so he waited until he was 70 before he took it and because they live modestly they could pretty much live on social security alone. So I know Jack lives a modest lifestyle but I was wondering if his house was just as modest.

According to Celebrity net worth, he is worth $60 million.


stemiker:

I have visited Jack and Eve several times. Their home is comfortable but modest in size. I never saw a servant. Eve did the cooking.

Jack gave Vanguard to its investors and he gives most of his money to charities.

Best wishes
Taylor



+1

Taylor, thanks for sharing.
I really admire Jack and Warren.
We sure could use more like them.
The world of investing would be a better place.

Thanks again.
Regards,
Don

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Re: John Bogle's home

Post by joe8d » Mon Jul 25, 2016 7:28 pm

Toons wrote:"I don't have to borrow money, and I don't like to"

Excellent line,,,,and oh does it ever ring so true with me :mrgreen:


:thumbsup Same here.
All the Best, | Joe

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Re: John Bogle's home

Post by littlebird » Mon Jul 25, 2016 8:00 pm

stemikger wrote:I was always fascinated how Warren Buffett never left the house he purchased in 1958 for $31,500.
.


Just to put this somewhat in context, my parents bought a home in Queens, in NYC in 1954 for $15,000 and my then spouse and I bought a house in the best school district in Suffolk County, N.Y. in 1967 for 19,000. Both houses were in commuting distance to jobs in NYC.

So, c'mon $31,500 in Omaha? A mansion! :wink:

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stemikger
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Re: John Bogle's home

Post by stemikger » Tue Jul 26, 2016 12:22 am

littlebird wrote:
stemikger wrote:I was always fascinated how Warren Buffett never left the house he purchased in 1958 for $31,500.
.


Just to put this somewhat in context, my parents bought a home in Queens, in NYC in 1954 for $15,000 and my then spouse and I bought a house in the best school district in Suffolk County, N.Y. in 1967 for 19,000. Both houses were in commuting distance to jobs in NYC.

So, c'mon $31,500 in Omaha? A mansion! :wink:


lol. Not for one of the richest men in the world. :beer

Truthfully it is a beautiful home but a mere shack compared to his fellow billionaires.
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Re: John Bogle's home

Post by jwillis77373 » Tue Jul 26, 2016 10:30 am

It amazes me that so many people don't have the foresight to downsize when the time is right.

I maintain the yard and grounds for my Mom in Dallas, TX and it regularly gets up in to 105 F range in the Summer time.. but that doesn't mean I can sit around and not mow the lawn just because its a cool day in Texas.

Big yards and big houses take a lot of upkeep out of you or your children... and its not all that healthy for older people when you factor in the UV, heat and Ozone exposure.

Plus if you don't paint and replace gutters and the like its a depreciation timebomb... not an investment.

Jack did the most sensible thing he could possibly do, for himself and his wife and his children.

I wouldn't say sentimentality has no place in investment, but it can be a costly extravaganze.

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Re: John Bogle's home

Post by TonyDAntonio » Tue Jul 26, 2016 10:41 am

The longer I live the more happy I am that I bought a 'modest' (ie. cheap) house (it was new though when I bought it) on a very small lot. I have a little bit of yard maintenance that is slowly going away as I let grass die due to the CA drought. And my house was relatively easily paid off early. Because I bought it new there have been few maintenance surprises. I guess a big house on a big lot is nice when you and your family is young but I count my blessings that I don't have a maintenance headache or a relocation problem staring me in the face. And not having any debt is NICE.

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Re: John Bogle's home

Post by protagonist » Tue Jul 26, 2016 11:28 am

stemikger wrote:I was always fascinated how Warren Buffett never left the house he purchased in 1958 for $31,500.


$31500 bought a hell of a nice home in 1958. Maybe not a $60 millionaire's mansion, but a really nice crib.

If you dumped $60 million in my lap tomorrow, I doubt if I would move. A mansion would only mean more headaches, as would servants. My home is too big for me as is- I clean and heat rooms that go virtually unused. I don't need more unused rooms.

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Re: John Bogle's home

Post by jwillis77373 » Tue Jul 26, 2016 12:13 pm

Honestly, I'm from a different generation than my parents.

I asked them why they bought such a large home with a vast front yard and gigantic backyard in 1967.

They told me it was so the kids could play outside.

Some 50 years later, and with regular heat waves.. that doesn't look so much like a thing anymore.

Myself I've always run the other way from buying a house, always lived in apartments.. moved when I needed to, and did my parents lawn if I felt deprived.

the one thing I really dislike is dealing with trees.. they get really big, and are really expensive to trim or fell.. and in a big city they are a huge handicap, if not an insurance nightmare.

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Re: John Bogle's home

Post by TonyDAntonio » Tue Jul 26, 2016 3:47 pm

Full disclosure...I'd move if you dumped 60 million in my lap tomorrow. :D

protagonist wrote:
stemikger wrote:I was always fascinated how Warren Buffett never left the house he purchased in 1958 for $31,500.


$31500 bought a hell of a nice home in 1958. Maybe not a $60 millionaire's mansion, but a really nice crib.

If you dumped $60 million in my lap tomorrow, I doubt if I would move. A mansion would only mean more headaches, as would servants. My home is too big for me as is- I clean and heat rooms that go virtually unused. I don't need more unused rooms.

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Re: John Bogle's home

Post by hicabob » Tue Jul 26, 2016 3:53 pm

jwillis77373 wrote:Honestly, I'm from a different generation than my parents.

I asked them why they bought such a large home with a vast front yard and gigantic backyard in 1967.

They told me it was so the kids could play outside.

Some 50 years later, and with regular heat waves.. that doesn't look so much like a thing anymore.

Myself I've always run the other way from buying a house, always lived in apartments.. moved when I needed to, and did my parents lawn if I felt deprived.

the one thing I really dislike is dealing with trees.. they get really big, and are really expensive to trim or fell.. and in a big city they are a huge handicap, if not an insurance nightmare.



I beg to disagree - Trees are great. My redwoods, doug firs, laurels, madrones and oaks make the property. Of course a certain level of competence with a chainsaw comes in handy for a frugal type.

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Re: John Bogle's home

Post by stemikger » Tue Jul 26, 2016 4:00 pm

jwillis77373 wrote:Honestly, I'm from a different generation than my parents.

I asked them why they bought such a large home with a vast front yard and gigantic backyard in 1967.

They told me it was so the kids could play outside.

Some 50 years later, and with regular heat waves.. that doesn't look so much like a thing anymore.

Myself I've always run the other way from buying a house, always lived in apartments.. moved when I needed to, and did my parents lawn if I felt deprived.

the one thing I really dislike is dealing with trees.. they get really big, and are really expensive to trim or fell.. and in a big city they are a huge handicap, if not an insurance nightmare.


I remember when I bought my house, it was a brand new Townhome (which I still live in) and the realtor kept on saying, it's going to make a wonderful starter home and all I kept thinking to myself was, no it's going to make a wonderful permanent home especially when i pay off the mortgage which I did in 20 years instead of 30 like the mortgage stated.

I think like you except for the fact about renting. I never wanted to make someone else rich and felt renting was throwing money out the window and no equity was being built. Having said that, my Townhome has a small but very manageable yard that does not take any time at all. I have friends that bought these huge homes with huge yards. No thanks!!

The only bad thing is my wife always desired a big house and I simply told her sorry, wrong guy. I wish I could have made her happy but I know my limitations and owning a McMansion was never something I desired or could afford. I know too many people that live for a home and it just never made sense for me. As Warren Buffett often says when asked why he never bought a mansion his reply is: I'm warm in the winter and cool in the summer and I love it here.
Choose Simplicity ~ Stay the Course!! ~ Press on Regardless!!!

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Re: John Bogle's home

Post by Sunflower » Tue Jul 26, 2016 4:01 pm

Juniper wrote:"We also have what I call our 'big old Adirondack barn,' which is a place that's been in my wife's family for more than 50 years. It's for ourselves and our six children and our 12 grandchildren; it's a nice refuge for them."


I'm more curious about this old barn. Is the family all there at the same time? :dollar

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Re: John Bogle's home

Post by jwillis77373 » Tue Jul 26, 2016 4:05 pm

Well nothing like a home owner with their own chainsaw for home security.

I wonder if just the sound would scare away potential burglars.

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Re: John Bogle's home

Post by unclescrooge » Tue Jul 26, 2016 11:18 pm

cmf wrote:
4nursebee wrote:I read that Buffet's "old" house had an addition that included a racquetball court.


The house was built in 1921. It was remodeled in 1989. The racquetball court is listed as an "add on" and is 1107 square feet. The house totals 5830 square feet with five bedrooms and 2.5 bathrooms. Currently valued at $706,400. It sits on 0.72 acres. Pretty humble digs for someone with the kind of money he has...


Except he also had a summer home on the California coastline, which he sold in 2006 (if I recall correctly). Apparently he didn't think it was worth $6million so he sold it!

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Re: John Bogle's home

Post by abuss368 » Tue Jul 26, 2016 11:54 pm

Thank you Mr. Bogle!
John C. Bogle: "You simply do not need to put your money into 8 different mutual funds!" | | Disclosure: Three Fund Portfolio + U.S. & International REITs

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Re: John Bogle's home

Post by mancich » Wed Jul 27, 2016 4:13 am

Jack Bogle has done so much for the investor. We need more great people in the world like him.

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Re: John Bogle's home

Post by Mitchell777 » Wed Jul 27, 2016 6:13 am

I believe I recall an interview where Buffett was asked what he buys that is expensive. I think first was a plane and secondly, he said he now buys expensive suits but he said they still look cheap on him.

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Re: John Bogle's home

Post by scone » Wed Jul 27, 2016 7:03 am

I'm vacationing in a modest home right now. It's on the market for almost two million. 8-)
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Re: John Bogle's home

Post by cherijoh » Wed Jul 27, 2016 7:34 am

stemikger wrote:I remember when I bought my house, it was a brand new Townhome (which I still live in) and the realtor kept on saying, it's going to make a wonderful starter home and all I kept thinking to myself was, no it's going to make a wonderful permanent home especially when i pay off the mortgage which I did in 20 years instead of 30 like the mortgage stated.


I am in a "starter home" neighborhood that has had high turnover. Now it seems to be attracting older people like me - most of whom are downsizing from a larger house. Like stemiker, I skipped the intermediate step. :happy

I have some long-time friends who are on their third house since I bought mine. The first move was necessary as they had 2 kids and their first place would definitely have been too small for a family of 4. But the 2 subsequent moves were strictly "upgrades". I have to bite my tongue when complaints are voiced about having to work at least 5 more years (until ~65). With two professional salaries, they probably could have paid off their first place about 15 years ago and would be retired by now. :oops:

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Re: John Bogle's home

Post by burt » Wed Jul 27, 2016 7:44 am

stemikger wrote:
jwillis77373 wrote:Honestly, I'm from a different generation than my parents.

I asked them why they bought such a large home with a vast front yard and gigantic backyard in 1967.

They told me it was so the kids could play outside.

Some 50 years later, and with regular heat waves.. that doesn't look so much like a thing anymore.

Myself I've always run the other way from buying a house, always lived in apartments.. moved when I needed to, and did my parents lawn if I felt deprived.

the one thing I really dislike is dealing with trees.. they get really big, and are really expensive to trim or fell.. and in a big city they are a huge handicap, if not an insurance nightmare.


I remember when I bought my house, it was a brand new Townhome (which I still live in) and the realtor kept on saying, it's going to make a wonderful starter home and all I kept thinking to myself was, no it's going to make a wonderful permanent home especially when i pay off the mortgage which I did in 20 years instead of 30 like the mortgage stated.

I think like you except for the fact about renting. I never wanted to make someone else rich and felt renting was throwing money out the window and no equity was being built. Having said that, my Townhome has a small but very manageable yard that does not take any time at all. I have friends that bought these huge homes with huge yards. No thanks!!

The only bad thing is my wife always desired a big house and I simply told her sorry, wrong guy. I wish I could have made her happy but I know my limitations and owning a McMansion was never something I desired or could afford. I know too many people that live for a home and it just never made sense for me. As Warren Buffett often says when asked why he never bought a mansion his reply is: I'm warm in the winter and cool in the summer and I love it here.



From a recent Scott Burns article:
"Retirement Security Is More About Choices than Investment Returns"
"... the biggest single lever on your standard of living, as always, is shelter expense."

https://assetbuilder.com/knowledge-center/articles/retirement-security-is-more-about-choices-than-investment-returns

I refuse to be "House Poor".

burt

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Re: John Bogle's home

Post by nova1968 » Wed Jul 27, 2016 12:28 pm

Taylor Larimore wrote:
stemikger wrote:I was always fascinated how Warren Buffett never left the house he purchased in 1958 for $31,500. I was wondering if John Bogle was in the same camp and if Taylor or Mel ever visited him there.

I once heard Jack say in an interview that he and his wife were not going to take social security so he waited until he was 70 before he took it and because they live modestly they could pretty much live on social security alone. So I know Jack lives a modest lifestyle but I was wondering if his house was just as modest.

According to Celebrity net worth, he is worth $60 million.


stemiker:

I have visited Jack and Eve several times. Their home is comfortable but modest in size in a well-guarded community. I never saw a servant. Eve did the cooking.

Jack gave Vanguard to its investors and he gives most of his money to charities.

Best wishes
Taylor


Abby Johnson, CEO of Fidelity Investments according to Forbes 400 is worth 14.2 billion and I believe Vanguard is larger than Fidelity.
Therefore she has 236 times more net worth than Jack . I didn't realize there was that much difference in fees or maybe Jack is giving it all to charity.

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Re: John Bogle's home

Post by HomerJ » Wed Jul 27, 2016 12:59 pm

jwillis77373 wrote:Honestly, I'm from a different generation than my parents.


Heh, that's basically the definition of "generation" isn't it?

the one thing I really dislike is dealing with trees.. they get really big, and are really expensive to trim or fell.. and in a big city they are a huge handicap, if not an insurance nightmare.


The absolute best thing about my house is the trees that surround it, and the small forest behind.

I love sitting on my deck, in the shade, and hearing the wind in the leaves.

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Re: John Bogle's home

Post by Valuethinker » Wed Jul 27, 2016 3:55 pm

cmf wrote:
4nursebee wrote:I read that Buffet's "old" house had an addition that included a racquetball court.


The house was built in 1921. It was remodeled in 1989. The racquetball court is listed as an "add on" and is 1107 square feet. The house totals 5830 square feet with five bedrooms and 2.5 bathrooms. Currently valued at $706,400. It sits on 0.72 acres. Pretty humble digs for someone with the kind of money he has...


Bernie Ecclestone (controls Formula 1, or did, billionaire most likely) has just had his mother in law kidnapped. This was in Brasil (which had a bad problem with kidnapping, and still has one). Kidnappers (apparently fairly amateurish) asking for £28m.

Taylor Swift has an apartment for her security detail, across the hall from *her* NYC apartment (formerly owned by Sir Ian MacKellen, of Gandalf LOTR fame).

Granted Buffett has nothing like the visibility of TS, and a young woman that visible will attract a lot of creeps (one jumped on stage in one of her performances) that WB will not.

But you see the problem. Even in Omaha NB. Buffett (and his family) are some of the richest people in the world (setting aside his plans to give his money away).

Gina Reinhardt (Australian mining billionaire) was sued by her family (children or stepchildren or nieces and nephews, I think) to provide security for their kids. They had to announce, publicly, that they get nothing from her, and that no kidnapper would get anything from her.

cmf
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Re: John Bogle's home

Post by cmf » Thu Jul 28, 2016 10:17 am

Valuethinker wrote:
cmf wrote:
4nursebee wrote:I read that Buffet's "old" house had an addition that included a racquetball court.


The house was built in 1921. It was remodeled in 1989. The racquetball court is listed as an "add on" and is 1107 square feet. The house totals 5830 square feet with five bedrooms and 2.5 bathrooms. Currently valued at $706,400. It sits on 0.72 acres. Pretty humble digs for someone with the kind of money he has...


Bernie Ecclestone (controls Formula 1, or did, billionaire most likely) has just had his mother in law kidnapped. This was in Brasil (which had a bad problem with kidnapping, and still has one). Kidnappers (apparently fairly amateurish) asking for £28m.

Taylor Swift has an apartment for her security detail, across the hall from *her* NYC apartment (formerly owned by Sir Ian MacKellen, of Gandalf LOTR fame).

Granted Buffett has nothing like the visibility of TS, and a young woman that visible will attract a lot of creeps (one jumped on stage in one of her performances) that WB will not.

But you see the problem. Even in Omaha NB. Buffett (and his family) are some of the richest people in the world (setting aside his plans to give his money away).

Gina Reinhardt (Australian mining billionaire) was sued by her family (children or stepchildren or nieces and nephews, I think) to provide security for their kids. They had to announce, publicly, that they get nothing from her, and that no kidnapper would get anything from her.


Not that Buffet is 100% safe but he does have guards on his property. Last time I saw him at a restaurant in Omaha he was proceeded by and flanked by what I perceived to be bodyguards.

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