Just hit the million mark net worth today

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ruralavalon
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Re: Just hit the million mark net worth today

Post by ruralavalon »

yogesh wrote:Read Bogle saying "celebrate when you reach goal" ...
Thanks to America - the land of opportunity
Planning to:
- Take family out to Disneyland
- Gift to charity
- Sponsor Europe Trip for Parents
. . . . .
i know it will go down with my celebrations but here is why wife is pushing the celebrations
- I grew up in very poor family ($500 per year in India)
- uneducated parents worked hard as farm laborers to make my life better
- we got electricity at home when I admitted to college
- hit hard by direct/indirect caste discrimination growing up
- time to pay off the dues, thank elders and celebrate ...
Congratulations :D .

An inspiring story and a well earned celebration.
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obgyn65
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Re: Just hit the million mark net worth today

Post by obgyn65 »

Well done, OP.
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Barefootgirl
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Re: Just hit the million mark net worth today

Post by Barefootgirl »

Warmest congratulations on your great accomplishment which surely resulted at least in part, from hard work and sacrifice.

The celebrations sound wonderful! enjoy!

I was raised by two wonderful, working class but spendthrift parents here in America. I graduated college as a young woman with several thousand dollars of student loan debt
and a liberal arts degree, so it was always an uphill climb.

Many days I consider my own accomplishments from the perspective of in spite of, not because of! LOL

I am curious as to the best advice you would have for other immigrants - presumably chief among them would be to learn the language and culture.?..but beyond that, I would think we are all in this together....I am relieved to be in the club.

Again, congratulations!

BFG
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Barefootgirl
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Re: Just hit the million mark net worth today

Post by Barefootgirl »

Could someone point me in the direction of how to calculate the net present value of pensions? I have been using an annuity calculator, thinking it would be the same, but perhaps I am misinformed.

Thanks, BFG
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grayfox
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Re: Just hit the million mark net worth today

Post by grayfox »

Are these unrealized gains? They are not realized until you sell.

If $1M is the market value of stock, in one year, it could be down by half. With stocks, it is easy come, easy go
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Re: Just hit the million mark net worth today

Post by lethean46 »

Awesome. It is hard to imagine the journey of your life. Would you care to share more of your story?

Are you familiar with the names of Monish Pabrai, Prem Watsa, and Ajit Jain? All immigrants from India. You can google them. Pabrai and Prem Watsa have each set up foundations in India to educate poor children. (Don't know about Ajit Jain.) You can probably google that, too - by name + foundation.

Congratulations.

ML
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Re: Just hit the million mark net worth today

Post by The Wizard »

Barefootgirl wrote:Could someone point me in the direction of how to calculate the net present value of pensions? I have been using an annuity calculator, thinking it would be the same, but perhaps I am misinformed.

Thanks, BFG
Yes, I think that's a good way to get a ballpark estimate since an annuity calculator uses current interest rates, etc.
Just make sure all the relevant parameters match: gender, starting age, survivor details, COLA (if any), guarantee period (if any)...
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wander
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Re: Just hit the million mark net worth today

Post by wander »

Sweet, I assume you have already paid off your house.
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yogesh
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Re: Just hit the million mark net worth today

Post by yogesh »

lethean46 wrote:Awesome. It is hard to imagine the journey of your life. Would you care to share more of your story?

Are you familiar with the names of Monish Pabrai, Prem Watsa, and Ajit Jain? All immigrants from India. You can google them. Pabrai and Prem Watsa have each set up foundations in India to educate poor children. (Don't know about Ajit Jain.) You can probably google that, too - by name + foundation.

Congratulations.

ML
I need to sit down and put it on paper someday!
People who have traveled hard path doesn't need convincing on how important it is to GIVE.
We both have been doing 10% payroll deduction each to charity since our first job (~10 yrs).

Goal: If I can't make 100-1000s more Yogesh from untouchable community; my life grade is FAIL. Yes, I still remember the day when my upper caste teacher said "it's below my dignity to even touch you; let alone teach you". I could have given up on such an unfair life or chose to further strengthen my goals/dreams; I choose latter. Education was the only way to break shackles! Enter America - an equal playing field with emphasis on diversity and inclusion!
Last edited by yogesh on Sat Oct 19, 2013 11:03 am, edited 1 time in total.
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reggiesimpson
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Re: Just hit the million mark net worth today

Post by reggiesimpson »

Congrats. Yes America is the land of realizing your dreams. Glad to see you are spending some of it the right way (IMHO)!
MoonOrb
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Re: Just hit the million mark net worth today

Post by MoonOrb »

Congratulations, and keep up the good work.

Also: I find it weird that there are people who come into these threads who like to somehow diminish the OP's great news. Guys, he's reached a milestone and he's happy about it. Be happy for him and keep the rest of your thoughts to yourself. Yeesh.
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Re: Just hit the million mark net worth today

Post by Leesbro63 »

MoonOrb wrote:Congratulations, and keep up the good work.

Also: I find it weird that there are people who come into these threads who like to somehow diminish the OP's great news. Guys, he's reached a milestone and he's happy about it. Be happy for him and keep the rest of your thoughts to yourself. Yeesh.
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Jfet
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Re: Just hit the million mark net worth today

Post by Jfet »

MoonOrb wrote:Congratulations, and keep up the good work.

Also: I find it weird that there are people who come into these threads who like to somehow diminish the OP's great news. Guys, he's reached a milestone and he's happy about it. Be happy for him and keep the rest of your thoughts to yourself. Yeesh.
I agree with the caveat that the milestone needs to be within reach of all of us to invoke the happy response. (I am happy for the OP by the way, congrats!)

If a hedge fund manager came on here and announced he had just hit the one billion mark, we would probably not see very many congratulations. :D
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Re: Just hit the million mark net worth today

Post by scrabbler1 »

Congrats, Yogesh. And if you lucky like I was back in 2010 when I first pierced the $1M mark, you will get to pierce it again a few more times after falling below it over and over! :mrgreen:
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Re: Just hit the million mark net worth today

Post by Abe »

I've always liked to hear stories like this. Congratulations.
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Re: Just hit the million mark net worth today

Post by DouglasDoug »

Well done. Now that you've been back-slapped by all, where is our champagne?
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Re: Just hit the million mark net worth today

Post by bogleviewer »

Congratulations and enjoy Disney. :)
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Re: Just hit the million mark net worth today

Post by FireSekr »

yogesh wrote:
lethean46 wrote: People who have traveled hard path doesn't need convincing on how important it is to GIVE.
We both have been doing 10% payroll deduction each to charity since our first job (~10 yrs).

Goal: If I can't make 100-1000s more Yogesh from untouchable community; my life grade is FAIL. Yes, I still remember the day when my upper caste teacher said "it's below my dignity to even touch you; let alone teach you". I could have given up on such an unfair life or chose to further strengthen my goals/dreams; I choose latter. Education was the only way to break shackles! Enter America - an equal playing field with emphasis on diversity and inclusion!
Congrats and thanks for the inspiration!

Guiding others and sharing your experiences is one of the most noble causes. I always think of my dad as one of the characters in "The Millionaire Nextdoor". He owned a small business and didn't go to a fancy office or wear suits like my friend's parents. He is a simple man. Although he was successful, because of his background he was never able to provide much guidance in terms of finding my passion, choosing the right school, corporate career advice etc.

But the guidance and mentorship of others who were kind enough to share their experiences was fundamental to me understanding myself and becoming successful. That is why I spend a good amount of my free time trying to help others.

Helping 100-1,000 more people is awesome and I wish you the best of luck in your cause, but don't underestimate the significance of helping out even just one person!
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Re: Just hit the million mark net worth today

Post by letsgobobby »

wander wrote:Sweet, I assume you have already paid off your house.
now why would he go do something as foolish as that? :P
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Re: Just hit the million mark net worth today

Post by Methedras »

Yogesh, a hearty congratulations to you!

If you are comfortable, please share a bit of your story. I read the pieces you included before, but a bit more detail cold be really inspirational. What age did you come here? What topic did you study in school, or did you just start a business? How did you manage to save this much (frugality or boosting earnings/income)? How old are you now?

I ask because I am at the beginning of this journey, and I'll admit that some days I think I will never hit my target no matter how hard I try. When I hear details of others who have "made it", it reinvigorates me and lets me believe I can make it!

Congrats again!
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Re: Just hit the million mark net worth today

Post by wingnutty »

Well done! Well done! Savor this, because you earned it. It's an important milestone in most of our lives and one that I someday hope to experience. Take some time and money and spend it on yourself and your family!
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Re: Just hit the million mark net worth today

Post by sschullo »

Congrats!
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lethean46
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Re: Just hit the million mark net worth today

Post by lethean46 »

yogesh wrote:
lethean46 wrote:Awesome. It is hard to imagine the journey of your life. Would you care to share more of your story?

Are you familiar with the names of Monish Pabrai, Prem Watsa, and Ajit Jain? All immigrants from India. You can google them. Pabrai and Prem Watsa have each set up foundations in India to educate poor children. (Don't know about Ajit Jain.) You can probably google that, too - by name + foundation.

Congratulations.

ML
I need to sit down and put it on paper someday!
People who have traveled hard path doesn't need convincing on how important it is to GIVE.
We both have been doing 10% payroll deduction each to charity since our first job (~10 yrs).

Goal: If I can't make 100-1000s more Yogesh from untouchable community; my life grade is FAIL. Yes, I still remember the day when my upper caste teacher said "it's below my dignity to even touch you; let alone teach you". I could have given up on such an unfair life or chose to further strengthen my goals/dreams; I choose latter. Education was the only way to break shackles! Enter America - an equal playing field with emphasis on diversity and inclusion!
Finally, I understand what you meant by your comment "100 - 1000s more Yogesh from the untouchable community". Here's a link to the Dakshani Foundation. Very inspirational.

http://www.dakshana.org/

You can stop the video to read the captions by putting your cursor in lower left corner, click it. Click again to restart. Click again to pause it. If that gets your interest? I'd suggest going to the 2012 annual report - link provided on the same page. Lots of really good info that sounds like it'd be right up your alley. Curious if you'd know the particular areas of India mentioned as recruiting sites for students. Lots of very interesting info in the report. At the end, there is a list of individual donors. And, a list of graduates, by class year and what they are doing now.

Prem Watsa is a donor to this Foundation and sits on its BOD. (I was wrong. Prem did not set up his own Foundation. He joined Pabrai in his effort.)

ML
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Re: Just hit the million mark net worth today

Post by EternalOptimist »

Good for you Yogesh, many say "I can't" while you said "I can" and " I did"
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Re: Just hit the million mark net worth today

Post by jon-nyc »

TravelforFun wrote:Welcome to the two-comma club! I made it in 2010 and should double it in 2017.

4 commas? WOW! 8-)
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Re: Just hit the million mark net worth today

Post by jon-nyc »

Yogesh - great story!
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Re: Just hit the million mark net worth today

Post by westcoast »

Great story and congratulations also I hope you keep prospering in our great country. Again great job.
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Re: Just hit the million mark net worth today

Post by Murdoch »

Congratulations. Enjoy the hard earned celebrations.
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Re: Just hit the million mark net worth today

Post by katnok »

Yogesh, congratulations from a fellow Indian immigrant!
Yours is an extraordinary achievement.
Feel proud of yourself!
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Re: Just hit the million mark net worth today

Post by investingdad »

yogesh wrote:
Grt2bOutdoors wrote:Congrats :sharebeer - but once you've done all that, won't you dip below the 7 figure number again?
Hit that going up as I am about 80% equity :-).
i know it will go down with my celebrations but here is why wife is pushing the celebrations
- I grew up in very poor family ($500 per year in India)
- uneducated parents worked hard as farm laborers to make my life better
- we got electricity at home when I admitted to college
- hit hard by direct/indirect caste discrimination growing up
- time to pay off the dues, thank elders and celebrate ...

Now is time to celebrate with dignity and pride of hard earned success for the family!
Nice!

It sounds to me like your wife is spot on in her reasoning. We are in Disney on family vacation as I write this enjoying a little bit of our own good fortune and blessings.

Congrats and best wishes on making that second one!
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Re: Just hit the million mark net worth today

Post by VictoriaF »

Whiggish Boffin wrote:Mazel tov!
(To use a traditional American phrase...)
At BH12, we had a discussion of the difference between a schmuck and a mensch. Bill Bernstein called Jack Bogle a mensch, and Jack looked it up.

Victoria
Last edited by VictoriaF on Sun Oct 20, 2013 6:22 pm, edited 1 time in total.
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yogesh
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Re: Just hit the million mark net worth today

Post by yogesh »

VictoriaF wrote:
Whiggish Boffin wrote:Mazel tov!
(To use a traditional American phrase...)
At BH12, we had a discussion of the difference between a schmuck and a mench. Bill Bernstein called Jack Bogle a mench, and Jack looked it up.

Victoria
Ended up looking at these phrases. Didn't hear Mazel tov or mench before; which part of the country are these used?
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Re: Just hit the million mark net worth today

Post by market timer »

yogesh wrote:Ended up looking at these phrases. Didn't hear Mazel tov or mench before; which part of the country are these used?
Northeast and Boca Raton
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Re: Just hit the million mark net worth today

Post by VictoriaF »

yogesh wrote:
VictoriaF wrote:
Whiggish Boffin wrote:Mazel tov!
(To use a traditional American phrase...)
At BH12, we had a discussion of the difference between a schmuck and a mench. Bill Bernstein called Jack Bogle a mench, and Jack looked it up.

Victoria
Ended up looking at these phrases. Didn't hear Mazel tov or mench before; which part of the country are these used?
These expressions come from Yiddish, a language of the Eastern European Jews derived from German and customized with the local flavor. In the U.S., Yiddish is the most common in New York where immigrant Jews have initially settled. Considering that the financial industry is centered in NYC, Yiddish expressions are widely used by the Jews and gentiles alike to add some color to financial discussions. That's why Whiggish Boffin and Jack Bogle are using it even as their backgrounds are quite different.

By the way, I am originally from the Eastern Europe and very much appreciate your achievement in the new country. Congratulations!

Victoria

[From a subsequent post which was removed: The correct spelling is mensch, whose meaning can be found via google (it's a complement) -- admin LadyGeek]
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Re: Just hit the million mark net worth today

Post by yogesh »

Update:
Called up dad yesterday; he was proud and happy that I am living boglehead/frugal life. With news outlets bombarding the corruption news every now and then; he managed to cross check is it's all white money :-). Here I go explaining him exactly what software engineers do for life; it's tough to explain as the closest he came to computers was when we managed to Skype once over 40kbps link. He still believes I am overpaid :-) for what I do as an engineer but feels very proud of investing in my education rather than forcing family occupation. Grandfather carried dead animals; father land laborer and a generation later we are engineers. In order to live up to this trend do I need to make my kid president?
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midareff
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Re: Just hit the million mark net worth today

Post by midareff »

Congratulations.. a major milestone for you and family.
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Re: Just hit the million mark net worth today

Post by smpatel »

Yogesh,

First, Congratulations and I wish you the very best.
Second, India has made tremendous strides socially to uplift all people. So much to the extent, that the reservation system has made the pendulum swing the other way where what used to be the majority is considering themselves as the minority. Hopefully it will balance out one day if politics is kept out. My friend refused to apply under reservation quota as he would rather compete based on intellectual ability than quota system as the system is not strictly based on economical condition.
Third, If you haven't read, pl read Millionaire next door and they explain that majority of the ones they interviewed in the immigrant community were first generation ones, so there is something to be said about that. I would consider whole country like India as bogleheads!
Fourth, I believe the strong roots make the tree stronger and same applies to life.

Enjoy/celebrate the success, wish you further success. My "Namaste" to your father!
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Re: Just hit the million mark net worth today

Post by VictoriaF »

yogesh wrote: In order to live up to this trend do I need to make my kid president?
Encourage your son or daughter to shoot for the Nobel. It's more deterministic than the presidency {smile},

Victoria
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Re: Just hit the million mark net worth today

Post by yogesh »

smpatel wrote:Yogesh,

First, Congratulations and I wish you the very best.
Second, India has made tremendous strides socially to uplift all people. So much to the extent, that the reservation system has made the pendulum swing the other way where what used to be the majority is considering themselves as the minority. Hopefully it will balance out one day if politics is kept out. My friend refused to apply under reservation quota as he would rather compete based on intellectual ability than quota system as the system is not strictly based on economical condition.
Third, If you haven't read, pl read Millionaire next door and they explain that majority of the ones they interviewed in the immigrant community were first generation ones, so there is something to be said about that. I would consider whole country like India as bogleheads!
Fourth, I believe the strong roots make the tree stronger and same applies to life.

Enjoy/celebrate the success, wish you further success. My "Namaste" to your father!
Agreed, affirmative action programs do work. World would be a much better place when things balance out but a long way to go to get there!
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Re: Just hit the million mark net worth today

Post by JPH »

Very well done. You should be proud. Keep going. Enjoy your life.
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Re: Just hit the million mark net worth today

Post by vg55 »

Congratulations on your accomplishment.

In recognition of your accomplishment and your willingness to help others. I am making a loan to a struggling business entrepreneur in India via kiva.org.

These are 0% micro loans for folks, like yourself, working to pull themselves up by their boot straps.

Personally, i think the very best things about having money is not having to worry about a place to sleep or the next meal, and being able to help someone else in a meaningful way.
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Re: Just hit the million mark net worth today

Post by LadyGeek »

How the OP got to $1 million is OK (congrats!), but the background info is straying into political territory and is off-topic here. Social / economic status comments are also off-topic.

Let's stay focused on the financial aspects.
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Re: Just hit the million mark net worth today

Post by yogesh »

LadyGeek wrote:How the OP got to $1 million is OK (congrats!), but the background info is straying into political territory and is off-topic here. Social / economic status comments are also off-topic.

Let's stay focused on the financial aspects.
Thanks LadyGeek for the reminder.
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Re: Just hit the million mark net worth today

Post by Mintee »

Congratulations, Yogesh. Enjoy every minute of your celebrations as well as your contributions to others.

And thank you for sharing with us.
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Re: Just hit the million mark net worth today

Post by LadyGeek »

I removed several off-topic posts. Please stay on-topic.
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Re: Just hit the million mark net worth today

Post by Mrxyz »

BL wrote:
yogesh wrote:
Grt2bOutdoors wrote:Congrats :sharebeer - but once you've done all that, won't you dip below the 7 figure number again?
Hit that going up as I am about 80% equity :-).
i know it will go down with my celebrations but here is why wife is pushing the celebrations
- I grew up in very poor family ($500 per year in India)
- uneducated parents worked hard as farm laborers to make my life better
- we got electricity at home when I admitted to college
- hit hard by direct/indirect caste discrimination growing up
- time to pay off the dues, thank elders and celebrate ...

Now is time to celebrate with dignity and pride of hard earned success for the family!
Congratulations on your success and being generous to celebrate!

Just to let you know, rural people in my area didn't get electricity until 1949 (I was fortunate in that we had our own Delco Battery power plant), but most lived frugally and didn't consider themself poor, even without running water and indoor bathrooms. I realize that doesn't compare to the poverty in your country and elsewhere in America.
Thanks for the info. Of course, I googled the boglehead site for more information, but this helps!

My IRAs are 400, taxable 250, 529 are 100, house has 200 equity(worth 350, 150 remaining mortgage), paid off cars worth at least 20........Hope did not miss anything...total is around 950. So almost there.
But I do not think (though it is likely not important what I think!!), that cars or house should be counted, so my worth is 750 only. Some ways to go till I join the 2 comma club!
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Re: Just hit the million mark net worth today

Post by EternalOptimist »

VictoriaF wrote:
Whiggish Boffin wrote:Mazel tov!
(To use a traditional American phrase...)
At BH12, we had a discussion of the difference between a schmuck and a mensch. Bill Bernstein called Jack Bogle a mensch, and Jack looked it up.

Victoria
Huge difference between the two :shock:
"When nothing goes right....go left"
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Re: Just hit the million mark net worth today

Post by VictoriaF »

EternalOptimist wrote:
VictoriaF wrote:
Whiggish Boffin wrote:Mazel tov!
(To use a traditional American phrase...)
At BH12, we had a discussion of the difference between a schmuck and a mensch. Bill Bernstein called Jack Bogle a mensch, and Jack looked it up.

Victoria
Huge difference between the two :shock:
Boglehead conferences are very educational, in more than one way.

Victoria
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Re: Just hit the million mark net worth today

Post by englishgirl »

Congratulations, yogesh!!
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