Boglehead's newest millionaire

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Chris001122
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Boglehead's newest millionaire

Post by Chris001122 » Sat Dec 10, 2016 10:36 am

I would like to happily post that I am today the Boglehead's newest millionaire as of market closing yesterday. I have been following the advice in the Boglehead's guide to investing at least since 2011 and my wife and I are now exceeding 1 million dollars in net worth. I am 50 years old and she is 46.

Thank you to Taylor Larimore, William B., and the other authors of the Boglehead's Guide to Investing. It has been a very stress-free ride.

I think I might celebrate with some doughnuts or a milkshake!

December 9th! It's like my millionaire birthday!

:D

Chris
"It's always been a mistake to bet against the United States since 1776." - Warren Buffett

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Chris001122
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Re: Boglehead's newest millionaire

Post by Chris001122 » Sat Dec 10, 2016 10:39 am

By the way, I am wondering if I should tell anyone other than my wife. Probably not right? Would only create jealousy?

Kinda want to tell my dad, but I wonder if his own pride (he's not a millionaire) might outweigh his pride for his son.
"It's always been a mistake to bet against the United States since 1776." - Warren Buffett

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Re: Boglehead's newest millionaire

Post by obafgkm » Sat Dec 10, 2016 10:41 am

Chris001122 wrote:Kinda want to tell my dad, but I wonder if his own pride (he's not a millionaire) might outweigh his pride for his son.
How do you know he isn't a millionaire and hasn't told you? :happy

Congratulations!

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Dutch
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Re: Boglehead's newest millionaire

Post by Dutch » Sat Dec 10, 2016 10:43 am

Congratulations!

Yeah you know the answer: Keep it to yourself.

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Re: Boglehead's newest millionaire

Post by Gropes & Ray » Sat Dec 10, 2016 10:46 am

Huzzah! :beer

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Re: Boglehead's newest millionaire

Post by retiredjg » Sat Dec 10, 2016 10:47 am

Congratulations. :D

Get all your well-deserved adulation here. There is nothing good to gain from sharing this, even with Dad.

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Re: Boglehead's newest millionaire

Post by Utahdogowner » Sat Dec 10, 2016 10:48 am

Awesome. Congratulations!

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Chris001122
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Re: Boglehead's newest millionaire

Post by Chris001122 » Sat Dec 10, 2016 10:48 am

obafgkm wrote:
Chris001122 wrote:Kinda want to tell my dad, but I wonder if his own pride (he's not a millionaire) might outweigh his pride for his son.
How do you know he isn't a millionaire and hasn't told you? :happy

Congratulations!
When he retired, he asked me to help him with some financial decisions and he showed me his retirement assets. I know what his house is worth and so on. He is better than most for sure, but not a millionaire, unless he is hiding some money somewhere. He might be, that rascal! :happy :happy
"It's always been a mistake to bet against the United States since 1776." - Warren Buffett

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Re: Boglehead's newest millionaire

Post by livesoft » Sat Dec 10, 2016 10:50 am

Chris001122 wrote:By the way, I am wondering if I should tell anyone other than my wife. Probably not right? Would only create jealousy?
Too late. I am insanely jealous.

Congats!
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Re: Boglehead's newest millionaire

Post by Dottie57 » Sat Dec 10, 2016 11:02 am

Chris001122 wrote:By the way, I am wondering if I should tell anyone other than my wife. Probably not right? Would only create jealousy?

Kinda want to tell my dad, but I wonder if his own pride (he's not a millionaire) might outweigh his pride for his son.
Depends on if your dad is someone who could become jealous or see you as a sourceof money.

I told my parents and they were very happy for me. It reassured them that I did not need an inhertance. They should spend it on themselves.

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Re: Boglehead's newest millionaire

Post by AlohaJoe » Sat Dec 10, 2016 11:04 am

As a contrary data point, lots of people - including my whole family, all of my friends, and most everyone I've ever worked with, know I am a millionaire. Despite that relatively widespread knowledge, I've never had a single issue with it. Well, other than my brother jokingly asking if he was in my will. ;)

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Re: Boglehead's newest millionaire

Post by Watty » Sat Dec 10, 2016 11:11 am

There was an old thread called the "two comma club" that some people would post on when they hit that milestone. You might want to post on that to revive the thread.
Chris001122 wrote:By the way, I am wondering if I should tell anyone other than my wife. Probably not right? Would only create jealousy?

Kinda want to tell my dad, but I wonder if his own pride (he's not a millionaire) might outweigh his pride for his son.
I have a degree in Computer Science and worked in IT until I retired last year. I always made good but not spectacular money but adjusted for inflation my salary probably peaked out in my late 40s.

I didn't push him towards it but my son also got a degree in Computer Science and is working as a software engineer now.

Once he was grown up we had always been pretty open about salaries and talking about managing careers. Last spring he got a huge raise when he switched jobs but instead of saying what his new salary is he expressed it as a percentage pay increase. After about two seconds of mental math I said, "I guess that means you are making more than I did when I retired." and he just got a big grin on his face.

Everyone is different but I just took pride him surpassing me as meaning that I did a good job raising him, or at least not screwing him up, so it felt good to me that he is doing well. Since he is our only kid knowing that he is doing so well it just reinforces the feeling that there is no need to limit our retirement spending just to leave him or grandkids an inheritance.

Telling your dad or not could go either way since people are different but if it came across as being a "thank you for raising me so well" then that could be well received.

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Re: Boglehead's newest millionaire

Post by retire57 » Sat Dec 10, 2016 11:16 am

We haven’t told anyone. Concerned it will affect the way people see us and cause a change in the dynamic of our relationships.

BTW, congratulations!

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Re: Boglehead's newest millionaire

Post by pcsrini » Sat Dec 10, 2016 11:20 am

Congrats, Chris!!

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Re: Boglehead's newest millionaire

Post by Raymond » Sat Dec 10, 2016 11:57 am

Congratulations! :sharebeer

Use this as an opportunity to keep your lips zipped :D

Keep on saving.
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Re: Boglehead's newest millionaire

Post by Longdog » Sat Dec 10, 2016 12:01 pm

Chris001122 wrote:I would like to happily post that I am today the Boglehead's newest millionaire as of market closing yesterday. I have been following the advice in the Boglehead's guide to investing at least since 2011 and my wife and I are now exceeding 1 million dollars in net worth. I am 50 years old and she is 46.

I think I might celebrate with some doughnuts or a milkshake!

:D

Chris
Pick one or the other. And share it with your wife. A million dollars doesn't go as far as it used to. :sharebeer
Steve

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Taylor Larimore
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Re: Boglehead's newest millionaire

Post by Taylor Larimore » Sat Dec 10, 2016 12:16 pm

Chris001122 wrote:I would like to happily post that I am today the Boglehead's newest millionaire as of market closing yesterday. I have been following the advice in the Boglehead's guide to investing at least since 2011 and my wife and I are now exceeding 1 million dollars in net worth. I am 50 years old and she is 46.

Thank you to Taylor Larimore, William B., and the other authors of the Boglehead's Guide to Investing. It has been a very stress-free ride.

I think I might celebrate with some doughnuts or a milkshake!

December 9th! It's like my millionaire birthday!

:D

Chris
Chris:

Knowing that I have helped investors be successful is one of my greatest pleasures.

Thank you and best wishes.
Taylor
"Simplicity is the master key to financial success." -- Jack Bogle

bubbadog
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Re: Boglehead's newest millionaire

Post by bubbadog » Sat Dec 10, 2016 12:20 pm

Congratulations. Probably best to keep it to yourself. This is a great forum with a lot of helpful and knowledgeable people.

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Re: Boglehead's newest millionaire

Post by samsoes » Sat Dec 10, 2016 12:27 pm

Don't tell a soul!

The less people who know, the better.

Congratulations! :sharebeer
Last edited by samsoes on Sat Dec 10, 2016 12:43 pm, edited 1 time in total.
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Re: Boglehead's newest millionaire

Post by whodidntante » Sat Dec 10, 2016 12:31 pm

Cool.

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Re: Boglehead's newest millionaire

Post by Teague » Sat Dec 10, 2016 12:39 pm

Chris001122 wrote:By the way, I am wondering if I should tell anyone other than my wife. Probably not right? Would only create jealousy?

Kinda want to tell my dad, but I wonder if his own pride (he's not a millionaire) might outweigh his pride for his son.
Hey Chris, congratulations old buddy! Remember me, Teague, from high school? Maybe not, but I remember you, ol' pal. Oh, by the way, things have been a little rough for me lately, can I maybe borrow a few Gs? Just until I get things straightened out, I'll pay you back real soon, I promise! :mrgreen:
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Calls from "old buddy?"

Post by Taylor Larimore » Sat Dec 10, 2016 12:54 pm

Teague:

Great post with an important message.

Thank you and best wishes.
Taylor
"Simplicity is the master key to financial success." -- Jack Bogle

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Re: Boglehead's newest millionaire

Post by prudent » Sat Dec 10, 2016 1:11 pm

Congrats on that meaningful milestone. I would not tell anyone other than my wife - not my father, siblings or even my closest friends. I don't see anything good that could come from it.

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Re: Boglehead's newest millionaire

Post by Emily1980 » Sat Dec 10, 2016 1:12 pm

Congratulations on reaching a milestone!

My husband and I are in our mid thirties and working towards the same success we see people have on this board regularly with the help of the wise and generous members. Dec 9th is our wedding anniversary, so if all goes well, one year that seven-figure milestone will be an anniversary present for us too. Definitely have a nice dinner with your wife.

:happy

And definitely don't tell your friends... unless you know they have the same mindset about money that you have and a comparable net worth. Otherwise you're just asking for trouble.

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Re: Boglehead's newest millionaire

Post by bligh » Sat Dec 10, 2016 1:16 pm

Congratulations Chris!

I agree with Emily1980, I would not share it with anyone except those that I know have a similar or higher net worth themselves and a similar financial mindset. I personally would share something like this with my dad but not my siblings or friends. I know he would be proud and super happy for me. Each person's relationship with their parents is different though, you know your dad, not us. :)

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Re: Calls from "old buddy?"

Post by Teague » Sat Dec 10, 2016 1:19 pm

Taylor Larimore wrote:Teague:

Great post with an important message.

Thank you and best wishes.
Taylor
Thank you Taylor,

A response from you is always an honor. :happy
Semper Augustus

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Chris001122
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Re: Boglehead's newest millionaire

Post by Chris001122 » Sat Dec 10, 2016 1:32 pm

Taylor Larimore wrote:
Chris001122 wrote:I would like to happily post that I am today the Boglehead's newest millionaire as of market closing yesterday. I have been following the advice in the Boglehead's guide to investing at least since 2011 and my wife and I are now exceeding 1 million dollars in net worth. I am 50 years old and she is 46.

Thank you to Taylor Larimore, William B., and the other authors of the Boglehead's Guide to Investing. It has been a very stress-free ride.

I think I might celebrate with some doughnuts or a milkshake!

December 9th! It's like my millionaire birthday!

:D

Chris
Chris:

Knowing that I have helped investors be successful is one of my greatest pleasures.

Thank you and best wishes.
Taylor
Thanks for reply, Taylor! I am so honored and happy!
"It's always been a mistake to bet against the United States since 1776." - Warren Buffett

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Re: Boglehead's newest millionaire

Post by Chris001122 » Sat Dec 10, 2016 1:34 pm

livesoft wrote:
Chris001122 wrote:By the way, I am wondering if I should tell anyone other than my wife. Probably not right? Would only create jealousy?
Too late. I am insanely jealous.

Congats!
LOL, sorry! :wink:
"It's always been a mistake to bet against the United States since 1776." - Warren Buffett

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Re: Boglehead's newest millionaire

Post by Chris001122 » Sat Dec 10, 2016 1:34 pm

Dutch wrote:Congratulations!

Yeah you know the answer: Keep it to yourself.
Great, thanks for validating it. :)
"It's always been a mistake to bet against the United States since 1776." - Warren Buffett

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Re: Boglehead's newest millionaire

Post by Chris001122 » Sat Dec 10, 2016 1:35 pm

Gropes & Ray wrote:Huzzah! :beer
:beer
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Re: Boglehead's newest millionaire

Post by Chris001122 » Sat Dec 10, 2016 1:36 pm

retiredjg wrote:Congratulations. :D

Get all your well-deserved adulation here. There is nothing good to gain from sharing this, even with Dad.
I always get great advice here! Thanks, retiredjg.
"It's always been a mistake to bet against the United States since 1776." - Warren Buffett

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Re: Boglehead's newest millionaire

Post by Chris001122 » Sat Dec 10, 2016 1:37 pm

AlohaJoe wrote:As a contrary data point, lots of people - including my whole family, all of my friends, and most everyone I've ever worked with, know I am a millionaire. Despite that relatively widespread knowledge, I've never had a single issue with it. Well, other than my brother jokingly asking if he was in my will. ;)
Good to know! Thanks a lot, AlohaJoe.
"It's always been a mistake to bet against the United States since 1776." - Warren Buffett

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Re: Boglehead's newest millionaire

Post by Chris001122 » Sat Dec 10, 2016 1:42 pm

Watty wrote:There was an old thread called the "two comma club" that some people would post on when they hit that milestone. You might want to post on that to revive the thread.
I think I will do that right now! Thanks. And thanks for the story. I also just want him to know that he did well raising me. He also wanted me to do well, make more money, have an easier "desk job" than he had, and go to college, etc. I think I will wait until "the spirit" leads however, because it might also make him feel less than me somehow or less lucky. I certainly know that i had the benefit of a college education which he helped me pay for so it's partially his accomplishment, too! Thanks!
"It's always been a mistake to bet against the United States since 1776." - Warren Buffett

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Re: Boglehead's newest millionaire

Post by Chris001122 » Sat Dec 10, 2016 1:52 pm

retire57 wrote:We haven’t told anyone. Concerned it will affect the way people see us and cause a change in the dynamic of our relationships.

BTW, congratulations!
Thanks, retire57! Point duly noted!
"It's always been a mistake to bet against the United States since 1776." - Warren Buffett

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Re: Boglehead's newest millionaire

Post by Chris001122 » Sat Dec 10, 2016 1:53 pm

Raymond wrote:Congratulations! :sharebeer

Use this as an opportunity to keep your lips zipped :D

Keep on saving.
mmrph mmrph (lips zipped)

:D :D :D
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Re: Boglehead's newest millionaire

Post by Chris001122 » Sat Dec 10, 2016 1:54 pm

bubbadog wrote:Congratulations. Probably best to keep it to yourself. This is a great forum with a lot of helpful and knowledgeable people.
Got it, bubbadog. Glad I posted here. I am getting lots of good counsel. Who else could I ask? I don't know any millionaires in real life, or wait, maybe I do....!!!!! :)
"It's always been a mistake to bet against the United States since 1776." - Warren Buffett

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Re: Boglehead's newest millionaire

Post by heyyou » Sat Dec 10, 2016 1:55 pm

You have reached an important benchmark as a saver. Congratulations on your long term accomplishment.
Just for fun, consider counting how many times you become the same millionaire. With your account sizes, nominal market fluctuations will be large enough for you to repeatably pass the two comma mark, going in both directions. As you already know so well, those market fluctuations are expected and are unimportant, but still quite noticeable at this particular cusp.

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Re: Boglehead's newest millionaire

Post by Chris001122 » Sat Dec 10, 2016 1:58 pm

samsoes wrote:Don't tell a soul!

The less people who know, the better.

Congratulations! :sharebeer
Well, I hinted to my wife that we were close last night. I re-calculated it this morning, and my work 401K numbers must not have adjusted until after 6:00 last night. But after the adjustment, I gained another $600 or so and that put us over the 1,000,000 total. I really wanted to know the exact day for some reason. So now I know. December 9th, 2016! I also really wanted to know if I would make it before 50. Well, I am 50, but at least I made it before 51. :)

Thanks, samsoes!
"It's always been a mistake to bet against the United States since 1776." - Warren Buffett

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Re: Boglehead's newest millionaire

Post by Chris001122 » Sat Dec 10, 2016 1:59 pm

Teague wrote:
Chris001122 wrote:By the way, I am wondering if I should tell anyone other than my wife. Probably not right? Would only create jealousy?

Kinda want to tell my dad, but I wonder if his own pride (he's not a millionaire) might outweigh his pride for his son.
Hey Chris, congratulations old buddy! Remember me, Teague, from high school? Maybe not, but I remember you, ol' pal. Oh, by the way, things have been a little rough for me lately, can I maybe borrow a few Gs? Just until I get things straightened out, I'll pay you back real soon, I promise! :mrgreen:
Hmm, yeah. I see.

LOL!

:D
"It's always been a mistake to bet against the United States since 1776." - Warren Buffett

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Re: Boglehead's newest millionaire

Post by Chris001122 » Sat Dec 10, 2016 2:01 pm

Emily1980 wrote:Congratulations on reaching a milestone!

My husband and I are in our mid thirties and working towards the same success we see people have on this board regularly with the help of the wise and generous members. Dec 9th is our wedding anniversary, so if all goes well, one year that seven-figure milestone will be an anniversary present for us too. Definitely have a nice dinner with your wife.

:happy

And definitely don't tell your friends... unless you know they have the same mindset about money that you have and a comparable net worth. Otherwise you're just asking for trouble.
Thanks, emily! I don't want people to dislike me because of something good.
"It's always been a mistake to bet against the United States since 1776." - Warren Buffett

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Re: Boglehead's newest millionaire

Post by Chris001122 » Sat Dec 10, 2016 2:01 pm

bligh wrote:Congratulations Chris!

I agree with Emily1980, I would not share it with anyone except those that I know have a similar or higher net worth themselves and a similar financial mindset. I personally would share something like this with my dad but not my siblings or friends. I know he would be proud and super happy for me. Each person's relationship with their parents is different though, you know your dad, not us. :)
great advice, Bligh! Thank you!
"It's always been a mistake to bet against the United States since 1776." - Warren Buffett

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Re: Boglehead's newest millionaire

Post by Chris001122 » Sat Dec 10, 2016 2:04 pm

heyyou wrote:You have reached an important benchmark as a saver. Congratulations on your long term accomplishment.
Just for fun, consider counting how many times you become the same millionaire. With your account sizes, nominal market fluctuations will be large enough for you to repeatably pass the two comma mark, going in both directions. As you already know so well, those market fluctuations are expected and are unimportant, but still quite noticeable at this particular cusp.
Good point. I was reading about that in another two comma thread a few minutes ago.

I just need to keep doing what I am doing and I may pass the two comma mark a bunch of times before it doesn't drop again. Definitely not selling due to fear like I did some in 2007-2008 this time.
"It's always been a mistake to bet against the United States since 1776." - Warren Buffett

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Re: Boglehead's newest millionaire

Post by Grt2bOutdoors » Sat Dec 10, 2016 2:04 pm

Congrats on achieving this significant milestone. A word of advice - "loose lips sink ships". Keep it between your wife and yourself, the same for her. While we are an appreciative bunch, I can assure you the rest of the general population will be anything but. Sad to say it, but that has been my experience when sharing good news.

Chris ole buddy, remember me, it's Charlie from two doors down. Chris, I'm sorta ashamed to say it but I left my wallet at the casino along with my unemployment check, it's awfully cold out and the gas company is about to turn off my heat, can you spot me two hundred and thirty nine dollars and 18 cents? I'll pay you back when my next unemployment check comes in, I promise, I'm good for it.
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Re: Boglehead's newest millionaire

Post by mickeyd » Sat Dec 10, 2016 2:08 pm

Congrats Chris.

Keep investing. When future market corrections (there are more out there) occur you may have the pleasure of passing the milestone more than once unless you keep saving.
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Re: Boglehead's newest millionaire

Post by Simple Simon » Sat Dec 10, 2016 2:22 pm

When we cross the threshold, apart from maybe posting here, I will not tell anybody. Not even my wife, unless she asks. Which she won't. She doesn't seem to care about that sort of thing, so I figure why burden her with cares she doesn't need? I'll just keep telling her we are doing fine and as long as we are careful, the stuff we have planned for our family's future is on track - because that's what she cares about.

If in real life someone felt the need to tell me how wealthy they where, I would probably think less of them.

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Re: Boglehead's newest millionaire

Post by PortAlice » Sat Dec 10, 2016 2:26 pm

Congratulations, Sir! :beer

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Re: Boglehead's newest millionaire

Post by abuss368 » Sat Dec 10, 2016 2:33 pm

That is so awesome!

Congrats! :sharebeer
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Re: Boglehead's newest millionaire

Post by Buckeye » Sat Dec 10, 2016 2:36 pm

Chris001122 wrote:
Well, I hinted to my wife that we were close last night. I re-calculated it this morning, and my work 401K numbers must not have adjusted until after 6:00 last night. But after the adjustment, I gained another $600 or so and that put us over the 1,000,000 total. I really wanted to know the exact day for some reason. So now I know. December 9th, 2016! I also really wanted to know if I would make it before 50. Well, I am 50, but at least I made it before 51. :)
Congrats!
Is your 401k a roth one? If not are you taking into account taxes when determining the total?

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Re: Boglehead's newest millionaire

Post by prudent » Sat Dec 10, 2016 3:01 pm

Chris001122 wrote:
Watty wrote:There was an old thread called the "two comma club" that some people would post on when they hit that milestone. You might want to post on that to revive the thread.
I think I will do that right now! Thanks. And thanks for the story. I also just want him to know that he did well raising me. He also wanted me to do well, make more money, have an easier "desk job" than he had, and go to college, etc. I think I will wait until "the spirit" leads however, because it might also make him feel less than me somehow or less lucky. I certainly know that i had the benefit of a college education which he helped me pay for so it's partially his accomplishment, too! Thanks!
My parents never had much and after my father retired we asked every once in a while if he needed any help. "No, no, no, you have to take care of yourselves and save for your retirement." 15 years later, his "no" was pretty slow in coming. So we insisted that we were going to send a "little something" monthly. He grilled me multiple times whether we could afford it, since all he knows is we live a low-key frugal lifestyle. We just kept saying "yes, of course, or we wouldn't be insisting." Over time the "little something" grew to a few hundred a month which he really needs, plus a little extra help for big expenses a couple of times. So he knows we're OK but we never did disclose our total numbers (and while they are not particularly impressive, given his background and life experience he'd probably faint). Point is that he does understand that he raised me right, I have been successful, and he's quite proud and happy - all the things you mention above. And actual numbers never were talked about.

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abuss368
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Re: Boglehead's newest millionaire

Post by abuss368 » Mon Dec 12, 2016 10:24 pm

I would not tell friends and family. Your wife? Of course as you are a team. Perhaps your father, but that would be your call and only you would know best.
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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