2 comma club (my way)!!

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Mrxyz
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2 comma club (my way)!!

Post by Mrxyz »

Hi,

As usual, thanks to all who have helped me in so many ways that I cannot count or list!
No, okay then...........If I must list, then some which come to my mind are; Nisi, livesoft, Emergdoc, retiredjg, Taylor,cruncher, ladyGeek,grok87,VictoriaF, grabiner,Frugalinvestor,gkaplan, bertilak, abus 368, sscritic and on and on............

We (as a family) have made it into the 2 comma club - in my own way- not net worth but combination of investments/money only and not including house, car etc!!

Her = 261G
His = 287G
Taxable = 433G
Checking = 45G
E fund = 55G

Total is 1081G

Thank you all!! :D :D
Last edited by Mrxyz on Fri Feb 20, 2015 2:52 am, edited 1 time in total.
Carefreeap
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Re: 2 comma club (my way)!!

Post by Carefreeap »

Congratulations on making it into the Millionaire Club! :beer
Every day I can hike is a good day.
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mhc
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Re: 2 comma club (my way)!!

Post by mhc »

Congrats!

Now put your checking and efund to work and you'll hit the 2 million club sooner.
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Mrxyz
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Re: 2 comma club (my way)!!

Post by Mrxyz »

mhc wrote:Congrats!

Now put your checking and efund to work and you'll hit the 2 million club sooner.
Yes, I have debated that in my mind quite a bit. The efund is in Ibonds and would like to keep it that way and the checking amount is destined for a new car sometime in the next 6 months or so.
tbradnc
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Re: 2 comma club (my way)!!

Post by tbradnc »

The first million is the hardest. :)
Last edited by tbradnc on Fri Feb 20, 2015 7:26 am, edited 1 time in total.
Purelife304
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Re: 2 comma club (my way)!!

Post by Purelife304 »

Mrxyz wrote:
mhc wrote:Congrats!

Now put your checking and efund to work and you'll hit the 2 million club sooner.
Yes, I have debated that in my mind quite a bit. The efund is in Ibonds and would like to keep it that way and the checking amount is destined for a new car sometime in the next 6 months or so.
Better not get that new Range Rover Autobiographer, then you'll have to repost and say you dropped out of the 2CC :wink:

But seriously, congrats! :beer
VAslim16
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Re: 2 comma club (my way)!!

Post by VAslim16 »

Congrats...I've got a ways to go...hoping to get to the 1 comma club in the next year myself. Very pumped for you and I hope one day I'll be there!
Grt2bOutdoors
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Re: 2 comma club (my way)!!

Post by Grt2bOutdoors »

Congrats - don't spend it all in one place. :wink:
The first 1000 is the hardest, then the first 10k, then the first 100k, after that things start to pick up momentum. The key is to make sure you take risk based on need, ability and willingness. If you are on your way to winning the game, don't take undue risk. I have to remind myself of that from time to time. It's easy to get lost in the euphoria - don't! Stay the course.
"One should invest based on their need, ability and willingness to take risk - Larry Swedroe" Asking Portfolio Questions
jambadoc
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Re: 2 comma club (my way)!!

Post by jambadoc »

Congratulations! Still paying of my mortgage worth of student loans... but I hope to be there in <10 years.
acejacksingh
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Re: 2 comma club (my way)!!

Post by acejacksingh »

tbradnc wrote:The first million is the hardest. :)
I heard the first $100,000 is the hardest........

Congrats to the OP!! :sharebeer
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Toons
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Re: 2 comma club (my way)!!

Post by Toons »

:thumbsup
"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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midareff
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Re: 2 comma club (my way)!!

Post by midareff »

acejacksingh wrote:
tbradnc wrote:The first million is the hardest. :)
I heard the first $100,000 is the hardest........




Congrats to the OP!! :sharebeer
The first $10,000 was the hardest!

:moneybag great start!
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ofcmetz
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Re: 2 comma club (my way)!!

Post by ofcmetz »

I'm already working on my second million. The first was so hard to get, that I gave up and just started working on the second.

Seriously, congrats on reaching such a fun milestone.
Never underestimate the power of the force of low cost index funds.
leod
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Re: 2 comma club (my way)!!

Post by leod »

midareff wrote:
acejacksingh wrote:
tbradnc wrote:The first million is the hardest. :)
I heard the first $100,000 is the hardest........




Congrats to the OP!! :sharebeer
The first $10,000 was the hardest!

:moneybag great start!
$10K was he hardest for me as well, but once we got the ball rolling then 100K came fast.
not sure if we can make to 1M but congrats to OP for making it! :sharebeer
epitomist
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Re: 2 comma club (my way)!!

Post by epitomist »

When I reached $1MM net worth it was anti-climatic. No fireworks went off. I didn't have enough to retire. It was literally just a number. Was a bit depressing actually.
Beantown85
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Re: 2 comma club (my way)!!

Post by Beantown85 »

epitomist wrote:When I reached $1MM net worth it was anti-climatic. No fireworks went off. I didn't have enough to retire. It was literally just a number. Was a bit depressing actually.
You probably didn't post here to get congratulations. Remember that mistake when you hit $2M, don't make it again.

Congrats OP!
ShiftF5
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Re: 2 comma club (my way)!!

Post by ShiftF5 »

Congratulations on a wonderful milestone.
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FelixTheCat
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Re: 2 comma club (my way)!!

Post by FelixTheCat »

Congratulations!
Felix is a wonderful, wonderful cat.
Sagenick48
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Re: 2 comma club (my way)!!

Post by Sagenick48 »

Congratulations.

As I have told folks in the past, being a multimillionaire is easy, all you have to do is get your second million, the first is the hardest.
The market goes up, the market goes down.
knswamy
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Re: 2 comma club (my way)!!

Post by knswamy »

Excellent! Congratulations!!!

We're very far away from the 2CC, but every anecdote is proof that it can be done!
yolli71
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Re: 2 comma club (my way)!!

Post by yolli71 »

Congrats!!!
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Mrxyz
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Re: 2 comma club (my way)!!

Post by Mrxyz »

Purelife304 wrote:
Mrxyz wrote:
mhc wrote:Congrats!

Now put your checking and efund to work and you'll hit the 2 million club sooner.
Yes, I have debated that in my mind quite a bit. The efund is in Ibonds and would like to keep it that way and the checking amount is destined for a new car sometime in the next 6 months or so.
Better not get that new Range Rover Autobiographer, then you'll have to repost and say you dropped out of the 2CC :wink:

But seriously, congrats! :beer
Yes, but in the next 4 to 5 months, I will save enough to replenish the funds to prevent a repost!! But of course, it will NOT be a Range Rover. Looking forward to the new 2016 Honda Pilot (??)

Beantown85 wrote:
epitomist wrote:When I reached $1MM net worth it was anti-climatic. No fireworks went off. I didn't have enough to retire. It was literally just a number. Was a bit depressing actually.
You probably didn't post here to get congratulations. Remember that mistake when you hit $2M, don't make it again.

Congrats OP!
Very true - honestly its just a number.......
Overall, I am not completely happy as the main goal is to reach the amount which is adequate for retirement and everything else is 'water under the bridge'.
But, in a way, to thank people, I thought a post may be needed.
epitomist wrote:When I reached $1MM net worth it was anti-climatic. No fireworks went off. I didn't have enough to retire. It was literally just a number. Was a bit depressing actually.
Exactly! Yes, no fireworks at all. In fact, I think I reached it last month but just realized it now. Lazy portfolio has made me lazy!
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Taylor Larimore
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Thank you.

Post by Taylor Larimore »

mrxyz:

Thank you for remembering.

Your success is our success.

Best wishes.
Taylor
"Simplicity is the master key to financial success." -- Jack Bogle
CarlZ993
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Re: 2 comma club (my way)!!

Post by CarlZ993 »

Congrats! Great club to be in.
Carl Z
toto238
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Re: 2 comma club (my way)!!

Post by toto238 »

Congrats to the OP! I hope to get there someday. But first will be getting a positive net worth (student loans...). Right now my assets are around $20k, and my debts are around $100k. So I got a little while to go.
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Re: 2 comma club (my way)!!

Post by LateStarter1975 »

ofcmetz wrote:I'm already working on my second million. The first was so hard to get, that I gave up and just started working on the second.

Seriously, congrats on reaching such a fun milestone.
I love this sense of humor. It's one of the things I enjoy at this forum. The other thing is motivating posts like that of the OP!
Debt is dangerous...simple is beautiful
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Mrxyz
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Re: Thank you.

Post by Mrxyz »

Taylor Larimore wrote:mrxyz:

Thank you for remembering.

Your success is our success.

Best wishes.
Taylor
Thank you! You are responsible for my 3 fund portfolio - satisfies my SWAN test and anything more is pretty confusing- where to tilt? What to add etc etc?. Also for Ibonds which function as efund and backup for the 529 -cannot go wrong with those.
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4nursebee
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Re: 2 comma club (my way)!!

Post by 4nursebee »

WOOHOO :moneybag
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Re: 2 comma club (my way)!!

Post by IPer »

Excellent news! Congrats!
Read the Wiki Wiki !
amitb00
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Re: 2 comma club (my way)!!

Post by amitb00 »

Congrats😄
texasdiver
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Re: 2 comma club (my way)!!

Post by texasdiver »

Congrats!

So what portion of your portfolio do you attribute to this forum? I started reading bogleheads in 2007 (changed my user profile in 2009) and since that date I would estimate that perhaps 25% of our net worth can be attributed to advice on this forum. In fact I think that is a great forum poll and will create one with that exact question.

My wife and I are there if we broadly consider all our assets including home equity but not quite there if we just look at investment accounts. I won't consider us officially in the 2-comma club until I can pull up Mint on her iPhone and say "Honey, look at this!!" which will hopefully happen within the next 12 months.
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Mrxyz
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Re: 2 comma club (my way)!!

Post by Mrxyz »

texasdiver wrote:Congrats!

So what portion of your portfolio do you attribute to this forum? I started reading bogleheads in 2007 (changed my user profile in 2009) and since that date I would estimate that perhaps 25% of our net worth can be attributed to advice on this forum. In fact I think that is a great forum poll and will create one with that exact question.

My wife and I are there if we broadly consider all our assets including home equity but not quite there if we just look at investment accounts. I won't consider us officially in the 2-comma club until I can pull up Mint on her iPhone and say "Honey, look at this!!" which will hopefully happen within the next 12 months.
This is a good question ! Not sure how to quantify it - due to the boglehead way, I have saved x amount but if I had done things in a non boglehead way then I would have lost y amount. It is very difficult to figure out the y amount. But my guess would be at least 20-30%. More than that, it's the way of thinking that has changed and the fact my family's whole financial outlook has improved on a long term basis.
grok87
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Re: 2 comma club (my way)!!

Post by grok87 »

Mrxyz wrote:Hi,

As usual, thanks to all who have helped me in so many ways that I cannot count or list!
No, okay then...........If I must list, then some which come to my mind are; Nisi, livesoft, Emergdoc, retiredjg, Taylor,cruncher, ladyGeek,grok87,VictoriaF, grabiner,Frugalinvestor,gkaplan, bertilak, abus 368, sscritic and on and on............

We (as a family) have made it into the 2 comma club - in my own way- not net worth but combination of investments/money only and not including house, car etc!!

Her = 261G
His = 287G
Taxable = 433G
Checking = 45G
E fund = 55G

Total is 1081G

Thank you all!! :D :D
congratulations!
RIP Mr. Bogle.
rayson
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Re: 2 comma club (my way)!!

Post by rayson »

Fantastic milestone! :sharebeer
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Re: 2 comma club (my way)!!

Post by NateH »

Image
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FrugalInvestor
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Re: 2 comma club (my way)!!

Post by FrugalInvestor »

Congrats on your accomplishment Mrxyz!! :sharebeer

Now that you've cleared that hurdle you can focus on the next milestone....hitting your number. I suspect that you now have a pretty good idea of what that is and how to get there. Let us know when you make it!
Have a plan, stay the course and simplify. Then ignore the noise!
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Mrxyz
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Re: 2 comma club (my way)!!

Post by Mrxyz »

FrugalInvestor wrote:Congrats on your accomplishment Mrxyz!! :sharebeer

Now that you've cleared that hurdle you can focus on the next milestone....hitting your number. I suspect that you now have a pretty good idea of what that is and how to get there. Let us know when you make it!
Thank you.

No,I do not know my number to be honest. Pretty confused about it--I do not know how much I will need to retire!! I cannot figure out my expenses very well. I do know how --- I am saving lots every year and hope to make it to 2 MIL in the next 5 to 7 years.
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Re: 2 comma club (my way)!!

Post by FrugalInvestor »

Mrxyz wrote:
FrugalInvestor wrote:Congrats on your accomplishment Mrxyz!! :sharebeer

Now that you've cleared that hurdle you can focus on the next milestone....hitting your number. I suspect that you now have a pretty good idea of what that is and how to get there. Let us know when you make it!
Thank you.

No,I do not know my number to be honest. Pretty confused about it--I do not know how much I will need to retire!! I cannot figure out my expenses very well. I do know how --- I am saving lots every year and hope to make it to 2 MIL in the next 5 to 7 years.
If it makes you feel any better I didn't know mine either, but then I hadn't found the Bogleheads to help guide me at that point. I just kept looking at what I had accumulated and balancing that against what I wanted in retirement. As time progressed I formed clearer pictures of my retirement goals and likely spending requirements, finally deciding that the time was right.

In truth, even with the help of Bogleheads I doubt I would have known my number with precision either. But my understanding of the pertinent considerations would have been much better, my confidence level considerably higher and I would have known where to get good feedback to guide my decisions.
Have a plan, stay the course and simplify. Then ignore the noise!
Hikes_With_Dogs
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Re: 2 comma club (my way)!!

Post by Hikes_With_Dogs »

mhc wrote:Congrats!

Now put your checking and efund to work and you'll hit the 2 million club sooner.
What do you suggest for OP and those who might have too 'much' in a checking account?
an_asker
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Re: 2 comma club (my way)!!

Post by an_asker »

Mrxyz wrote:Hi,

As usual, thanks to all who have helped me in so many ways that I cannot count or list!
No, okay then...........If I must list, then some which come to my mind are; Nisi, livesoft, Emergdoc, retiredjg, Taylor,cruncher, ladyGeek,grok87,VictoriaF, grabiner,Frugalinvestor,gkaplan, bertilak, abus 368, sscritic and on and on............

We (as a family) have made it into the 2 comma club - in my own way- not net worth but combination of investments/money only and not including house, car etc!!

Her = 261G
His = 287G
Taxable = 433G
Checking = 45G
E fund = 55G

Total is 1081G

Thank you all!! :D :D
Congratulations.

That said, I am curious how did you go about not including the house - I am assuming it is not upside down, but did you deduct the mortgage as well (or do you own free and clear)?
greetje
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Re: 2 comma club (my way)!!

Post by greetje »

Just out of curiosity---Does anyone know what percent of US population reaches the "2 comma club?"
ShiftF5
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Re: 2 comma club (my way)!!

Post by ShiftF5 »

Well done. Congratulations!!

Now, as others have said, just Stay The Course.
wrxsti
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Re: 2 comma club (my way)!!

Post by wrxsti »

greetje wrote:Just out of curiosity---Does anyone know what percent of US population reaches the "2 comma club?"
you mean reached? It is 3.0%.
wrxsti
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Re: 2 comma club (my way)!!

Post by wrxsti »

Mrxyz wrote:Hi,

As usual, thanks to all who have helped me in so many ways that I cannot count or list!
No, okay then...........If I must list, then some which come to my mind are; Nisi, livesoft, Emergdoc, retiredjg, Taylor,cruncher, ladyGeek,grok87,VictoriaF, grabiner,Frugalinvestor,gkaplan, bertilak, abus 368, sscritic and on and on............

We (as a family) have made it into the 2 comma club - in my own way- not net worth but combination of investments/money only and not including house, car etc!!

Her = 261G
His = 287G
Taxable = 433G
Checking = 45G
E fund = 55G

Total is 1081G

Thank you all!! :D :D
If you don't mind, how old are you?
TravelforFun
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Re: 2 comma club (my way)!!

Post by TravelforFun »

Congratulations to the OP and spouse! Took us 30 years to make the club on one income starting with nothing. No lottery winning nor inheritance along the way.
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mhc
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Re: 2 comma club (my way)!!

Post by mhc »

Hikes_With_Dogs wrote:
mhc wrote:Congrats!

Now put your checking and efund to work and you'll hit the 2 million club sooner.
What do you suggest for OP and those who might have too 'much' in a checking account?
Low cost, well diversified equity and bond index funds.
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Mrxyz
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Re: 2 comma club (my way)!!

Post by Mrxyz »

an_asker wrote:
Mrxyz wrote:Hi,

As usual, thanks to all who have helped me in so many ways that I cannot count or list!
No, okay then...........If I must list, then some which come to my mind are; Nisi, livesoft, Emergdoc, retiredjg, Taylor,cruncher, ladyGeek,grok87,VictoriaF, grabiner,Frugalinvestor,gkaplan, bertilak, abus 368, sscritic and on and on............

We (as a family) have made it into the 2 comma club - in my own way- not net worth but combination of investments/money only and not including house, car etc!!

Her = 261G
His = 287G
Taxable = 433G
Checking = 45G
E fund = 55G

Total is 1081G

Thank you all!! :D :D
Congratulations.

That said, I am curious how did you go about not including the house - I am assuming it is not upside down, but did you deduct the mortgage as well (or do you own free and clear)?
No, "2 comma club (my way)" is with liquid assets only. My way was to not include --My house is worth 370G, with only 80G left at 1.99% to be paid off(slowly), 529 worth around 100G, and 2 cars paid off.
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Mrxyz
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Re: 2 comma club (my way)!!

Post by Mrxyz »

wrxsti wrote:
Mrxyz wrote:Hi,

As usual, thanks to all who have helped me in so many ways that I cannot count or list!
No, okay then...........If I must list, then some which come to my mind are; Nisi, livesoft, Emergdoc, retiredjg, Taylor,cruncher, ladyGeek,grok87,VictoriaF, grabiner,Frugalinvestor,gkaplan, bertilak, abus 368, sscritic and on and on............

We (as a family) have made it into the 2 comma club - in my own way- not net worth but combination of investments/money only and not including house, car etc!!

Her = 261G
His = 287G
Taxable = 433G
Checking = 45G
E fund = 55G

Total is 1081G

Thank you all!! :D :D
If you don't mind, how old are you?
48yr
BabylonOrBust
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Re: 2 comma club (my way)!!

Post by BabylonOrBust »

wrxsti wrote:
greetje wrote:Just out of curiosity---Does anyone know what percent of US population reaches the "2 comma club?"
you mean reached? It is 3.0%.
Wondering: Does this include home equity? Does this also include couples worth 1M combined?
greetje
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Re: 2 comma club (my way)!!

Post by greetje »

BabylonOrBust wrote:
wrxsti wrote:
greetje wrote:Just out of curiosity---Does anyone know what percent of US population reaches the "2 comma club?"
you mean reached? It is 3.0%.
Wondering: Does this include home equity? Does this also include couples worth 1M combined?
No, "2 comma club (my way)" is with liquid assets only. My way was to not include --My house is worth 370G, with only 80G left at 1.99% to be paid off(slowly), 529 worth around 100G, and 2 cars paid off.

We (as a family) have made it into the 2 comma club - in my own way- not net worth but combination of investments/money only and not including house, car etc!!
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