How many bogleheads do you know in real life?

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Lynette
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Re: How many bogleheads do you know in real life?

Post by Lynette » Mon Feb 18, 2019 10:41 pm

I don't know if you could call them Bogleheads but my Megacorp gave us a choice of only 15 funds in our 401K. 90% of them were index funds offered by companies such as Blackrock, Vanguard and Fidelity. We were given frequent updates on the funds offered and seminars for which we could sign up. Once I asked why these funds were chosen and was told that they were low cost. Most people I know who worked with me in IT constantly watched their balances and often discussed their funds. In addition we were given access to a lot of tools on their website that enable us to analyze the funds and also funds of our external investments.

I don't much about their life styles but think that most of them were fairly frugal as many wanted to take an early retirement.
Last edited by Lynette on Mon Feb 18, 2019 10:53 pm, edited 1 time in total.

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AllieTB1323
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Re: How many bogleheads do you know in real life?

Post by AllieTB1323 » Mon Feb 18, 2019 10:52 pm

Exactly one, my brother by a different mother. Other than that my sister and BIL both have a guy charging them 1.25% to do something they could do investing an hour or two doing research twice a year. Alas isn't like they are lacking the background to self manage their investments. Their guy drives a very nice SUV. Almost all of my other friends are retired with advanced degrees in the sciences and they all have their guy. I'm thinking there is an ego component to having a "guy".

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SevenBridgesRoad
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Re: How many bogleheads do you know in real life?

Post by SevenBridgesRoad » Mon Feb 18, 2019 11:19 pm

l1am wrote:
Mon Feb 18, 2019 9:48 pm
Zero, including myself. I don't like labels like that.

- I do follow a lazy 3-fund portfolio strategy for the most part, inspired by Bogle's philosophy.
- I do hold a reasonable percentage also in individual stocks.
- I do hold cryptocurrency.
- I do gamble some money in other higher risk investments, casino games etc.
- I do consciously make "bad purchases" from a purely financial perspective sometimes.

So, idk is that a "boglehead"?
No, it's not. Definitions are important. I offer this from the wiki: "The Bogleheads® follow a small number of simple investment principles that have been shown over time to produce risk-adjusted returns far greater than those achieved by the average investor."

But this board is a broad and fascinating community now, with Bogleheadism only one path. From Ferris: "Isms, in my opinion, are not good. A person should not believe in an ism, he should believe in himself. I quote John Lennon, "I don’t believe in ‘Beatles’, I just believe in me.” Good point there. After all, he was the Walrus. I could be the Walrus, I’d still have to bum rides off of people."
Retired 2018 age 61 | 30:70 VTINX and two deferred single premium annuities and deferred SS | VPW Method | Sleeping very well at night

Hatch Batten
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Re: How many bogleheads do you know in real life?

Post by Hatch Batten » Tue Feb 19, 2019 12:43 am

Most of the well-off people I've known well follow many of the Boglehead principles. I'd say they tend to follow:
  • Live Below Your Means
  • Never Take On Too Much Risk, Or Accept Too Little
  • Diversify
  • Don't Time The Market
  • Minimize Taxes
  • Keep It Simple
  • Stay The Course
While they are less likely to follow these:

Invest Early And Often - spartan bohemianism early in life -- being a 'starving student' -- is a common theme. They tend to be big earners later in their careers and accrue benefits like pensions. They are likely to work in their youth, though. Some purchase property early in life, often with family help. They also either tend to continue working late in life (usually in a downshifted capacity), or are beneficiaries of someone who did and passed away.

Use Index Funds - I've heard them talk variously about individual securities, real estate, and bonds.

Keep Costs Low - some use trusted investment professionals, so keeping costs down is probably a secondary consideration.

Their core principles are, roughly:
  • Get an education
  • Work hard and save
  • Make a good marriage match
  • Own your home
  • Be generous and support your community
  • Live below your means
  • Help provide for the next generation
The main theme is an expectation of intergenerational wealth transfer, along with an understanding that each generation will be engaged and productive (often after a slightly adventurous youth).

I don't follow their way or the Boglehead model in full, but I appreciate the discipline and stability. I wonder if Boglehead-style planning might incorporate more of the intergenerational themes.

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texasdiver
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Re: How many bogleheads do you know in real life?

Post by texasdiver » Tue Feb 19, 2019 12:48 am

I guess it is easy to conflate Boglehead investing approach, which is a fairly narrow thing, and the general approach to financial independence and LBYM advocated across all these forums and is a far wider and more comprehensive approach to personal finance than just investing in index funds.

I suppose one could be a Boglehead by just investing the company match into a vanguard target date fund and forgetting about it while living an extravagant and indebted lifestyle. Whereas one might not be a boglehead by investing in a slice and dice portfolio that includes some less conventional holdings but who maximizes every tax-advantaged opportunity for investment, lives frugally, and has achieved early FI. The latter person would be much more admired here despite straying from the 3-fund portfolio or whatever the boglehead criteria is.

If I am advising someone, I'm going to be much more focused on making sure they are following a LBYM lifestyle, and investing adquate amounts in some sort of low cost and diversified portfolio with appropriate asset allocation. And has all their other financial ducks in a row. I'm not concerned at all if they are in something like Vanguard Wellington instead of an index fund, or have some REITs or precious metals funds on the side. As long as they aren't paying stupid fees that can otherwise be avoided. Or getting locked into products like variable annuities.

Myself? My wife and I have gotten rid of all of our less than boglehead investments over the years. Got rid of the REIT funds two years ago, and the separate emerging markets fund. It is 100% Vanguard index and target date funds now. Basically as close as we can get to a 3 or 4 fund portolio while holding 6 different investment accounts with differing offerings.

EnjoyIt
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Re: How many bogleheads do you know in real life?

Post by EnjoyIt » Tue Feb 19, 2019 12:57 am

livesoft wrote:
Mon Feb 18, 2019 6:04 pm
I know many. I live in a relatively wealthy area, so pretty much everybody has a retirement plan if still working.

I had someone two weeks ago while I was walking my dog try to explain to me what VTI, VXUS, BND, and BNDX were. I am happy to talk investing to anyone. When two young guys like myself are out walking dogs in the late morning, one can assume they no longer work for a living, so the topic of investing comes up. When investing comes up, I routinely state that I only use index funds. It is no longer surprising to me that many people know about Vanguard and many people state they have most of their 401(k) in index funds.

There were 2 financial advisors living close by, but they moved to more expensive neighborhoods.

I've been to lunches and dinners with members who post on this forum, too.
I always wonder who I know on the forums in real life. I am curious if someone I have been talking to online is actually someone I see in the real world.

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Re: How many bogleheads do you know in real life?

Post by Momus » Tue Feb 19, 2019 1:06 am

Not many. Out of 20 people I met, I always talk about $ and ask them directly what they do with their left over money. One in 20 will have any serious interest in investing or can discuss investment at length. Indexing is like a strange word for them. My co-workers are all making about 140k/yr, which isn't much in HCOL areas. Besides maxing 401k, they don't do much of anything else to grow their stash. Few will dabble in RE. They expressed they got lucky they bought their house at a cheap price, but that's pretty much it. Some hire financial planners and dabble in actively picking stocks, options and futures.

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Re: How many bogleheads do you know in real life?

Post by Starfish » Tue Feb 19, 2019 2:04 am

Among my colleges and friends (35-45 generation) pretty much all are savers and investors in (mostly) low cost mutual funds and some in RE. We know enough about each others finances.

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ThereAreNoGurus
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Re: How many bogleheads do you know in real life?

Post by ThereAreNoGurus » Tue Feb 19, 2019 2:18 am

texasdiver wrote:
Mon Feb 18, 2019 3:54 pm

I would estimate that in our upper-middle class circle of acquaintances, not 5% have financial lives that would merit discussion here without some sense of horror and embarrassment. All the surveys I see about the financial health of average Americans suggests this is true.
...
This is actionable to the extent that it helps one evaluate their own financial health relative to the real world and not the rarified world of bogleheads.
I know so many people that started with close to nothing and have done very well for themselves. I also know many that started from middle-class families and did very well for themselves, but not necessarily via the BH way if that means having a 3-fund portfolio or some variation of it.

These folks made, saved, and grew their money in various ways. Some made a bunch in real estate, some are/were business owners, many are/were double-income families, still married, and prodigious savers.

Your first two sentences are a mish-mash of two statistics. Perhaps the surveys you see about the health of the AVERAGE American are not so great, but far more than 5% have "financial lives" lacking "horror and embarrassment."

In 2016 according to this site: https://dqydj.com/net-worth-by-age-calc ... ed-states/ one million dollars would not put one in the top 20th percentile of net worth for Americans aged 60-64.
Trade the news and you will lose.

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Re: How many bogleheads do you know in real life?

Post by abonder » Tue Feb 19, 2019 2:27 am

I think about this often. I actually identified two friends on this forum based on their posts and confirmed via PM. They posed questions with very specific details that I was familiar with and it was easy to put 2 and 2 together. It didn’t surprise me when I learned that they were Bogleheads as I have always known them to be fiscally proficient, both in terms of managing their finances and also in terms of earning a good income. I talk about Bogleheads with 3 colleagues at work. I have recommended to many more but I still think that personally knowing five colleagues who frequent this forum is impressive!

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Re: How many bogleheads do you know in real life?

Post by jharkin » Tue Feb 19, 2019 8:01 am

In my entire life I have known exactly two:
- One colleague at work who gets this stuff and is doing most of the BH way (thought he doesn't participate on this forum or study our books)... I know this because we talk finance over lunch and share tips about tax topics, etc.
- A friend outside of work who does well because he hit the career lottery making 7 figures as a quant.


Other than that, nobody.... at least not in a way that I could tell from casual observation. And I work in high tech/software, live near Boston and most of our circle of friends have careers in tech, finance, healthcare, biomedical, etc...

Examples:
Of my generation of the family (my and my wifes siblings and cousins) we are the least educated (just undergrad)... our siblings all have Masters or PhDs yet most of them live paycheck to paycheck... other than one sibling who is a UBS wealth advisor - but he lives the lifestyle so who knows how much he saves.

My and my wife's parents both essentially live on social security and all will work until they cannot or will have to reverse mortgage if they live long enough.

At work I know people who are DINK with dual software industry salaries and claim they will have to work till they die... because they live the lifestyle (cars/travel/massive house/etc).

I have a friend outside of work though one of my hobby clubs who has advance degrees in engineering and works at startup companies.... probably has 6-7 figures stashed in various accounts but he doesn't even know how to do a 401k rollover so all his old employer plans are still left behind and invested in whatever the default crappy fund was.

I have another friend who did the FIRE thing and retired early (no kids, got lucky with an early retirement buyout) but he gambles on individual stocks and closed end junk bond funds (he loves to talk about "dividends!") and doesn't realize he is one market crash away from having to go back to work.

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sleepysurf
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Re: How many bogleheads do you know in real life?

Post by sleepysurf » Tue Feb 19, 2019 8:07 am

jharkin wrote:
Tue Feb 19, 2019 8:01 am
In my entire life I have known exactly two:...
Pretty much my experience as well. IMHO, BH's, as a demographic, represent the "alternative" 1%. :D
Retired 2018 | ~50/45/5 (partially sliced and diced)

RobLyons
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Re: How many bogleheads do you know in real life?

Post by RobLyons » Tue Feb 19, 2019 8:18 am

I know zero Bogleheads in real life.

2 coworkers whom max their 403b contributions

Most people I know seem to contribute $0 - $150/wk with no Roth
"Great parenting sets the foundation for a better world"

NotWhoYouThink
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Re: How many bogleheads do you know in real life?

Post by NotWhoYouThink » Tue Feb 19, 2019 8:52 am

Most people I know have a guy. The rest either don't talk at all about investments or tell me after the fact about what they bought that went way up. They never tell me in advance what they are going to buy, or about anything that went down, so I assume they are just telling stories.

We live in a neighborhood with mostly savers who have 401ks. There were a couple of flashy big spenders that moved in around 2000. One got foreclosed on, one relocated to the federal penitentiary for embezzlement.

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Re: How many bogleheads do you know in real life?

Post by lostdog » Tue Feb 19, 2019 9:20 am

I know none unfortunately.

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Re: How many bogleheads do you know in real life?

Post by SGM » Tue Feb 19, 2019 9:32 am

I know people who are frugal and save for retirement. A lot of them have FAs and have no idea what they are paying for advice. I have a few friends and relatives that are BH converts.

We have met and dined with many BHs at local and national meetings, but I guess that doesn't count as "real life". It is nice to hear their stories about how they became BHs. I have found fellow BHs to be very knowledgeable. They also live interesting lives. Hats off to them.

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Re: How many bogleheads do you know in real life?

Post by goodenyou » Tue Feb 19, 2019 9:39 am

Let’s be real. Boglehead-style investing is not sexy. It is boring to most people. Most people want to talk about sexy investing. It is more interesting. They don’t want to be average, they want to be better. The rest would rather put their head in the sand because it is too painful.
"Ignorance more frequently begets confidence than does knowledge" | "The best years you have left are the ones you have right now"

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Will do good
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Re: How many bogleheads do you know in real life?

Post by Will do good » Tue Feb 19, 2019 10:12 am

I know 3 others, all LBYM and read the BH forum and one joined us at Bogleheads conference.
Hopefully my kids will become a BH in the near future :sharebeer

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Re: How many bogleheads do you know in real life?

Post by columbia » Tue Feb 19, 2019 10:30 am

The silent Bogleheads are the ones choosing a target date fund in their retirement account(s) and never worrying about that choice.

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Re: How many bogleheads do you know in real life?

Post by DetroitRick » Tue Feb 19, 2019 11:56 am

None, really. Several friends and relatives share some BH attributes - mainly a certain level of reasonable frugality, an active concern for retirement planning, and some level of emergency planning. Little else, though. And this spans a wide range of income levels. But that's actually a decent part of why I'm here - exposure to a set of viewpoints and ideas that I'm not otherwise surrounded with.

The areas where most people I know diverge (significantly) relate to basic investment strategy - almost nobody I know understands or cares about asset allocation. They have WAY more concern about picking specific securities. Some do have an understanding of the importance of costs though, and that awareness seems to be on the increase. I really don't bring up the subject, but when others do I'm always amused by how many view investing as involving some "magic sauce" for security selection. I hear the "I got a guy who's really great" comment a lot. And perhaps most importantly - nobody, literally nobody I know, benchmarks their performance.

Nova1967
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Re: How many bogleheads do you know in real life?

Post by Nova1967 » Tue Feb 19, 2019 12:05 pm

I met a few at some of the Chapter meet ups, I don't know anyone who is familiar with the BH site and generally don't discuss my investment philosophy with others

blee
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Re: How many bogleheads do you know in real life?

Post by blee » Tue Feb 19, 2019 12:32 pm

I wish I knew at least one..most of my friends and family aren't concerned about money at all.

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Re: How many bogleheads do you know in real life?

Post by CarpeDiem22 » Tue Feb 19, 2019 1:02 pm

Like Klangfool above, I come from a culture where saving 30%+ of income is not unusual. So, I know a lot of people who are LBYM. But almost no one is a Boglehead when it comes to investing. People usually try to swing for the fences and active funds rule with very few indexers (in part due to the limited choice available). I am surprised by the ignorance of even my reporting managers (who in turn report to the CFO). I forwarded Rick Ferri's tribute to Mr. Bogle to the Whatsapp group of my college graduates from various batches (including CXOs) and exactly zero people responded. And the college has Ivy League-like reputation nationally.

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Devil's Advocate
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Re: How many bogleheads do you know in real life?

Post by Devil's Advocate » Tue Feb 19, 2019 1:12 pm

l1am wrote:
Mon Feb 18, 2019 9:48 pm
Zero, including myself. I don't like labels like that.

- I do follow a lazy 3-fund portfolio strategy for the most part, inspired by Bogle's philosophy.
- I do hold a reasonable percentage also in individual stocks.
- I do hold cryptocurrency.
- I do gamble some money in other higher risk investments, casino games etc.
- I do consciously make "bad purchases" from a purely financial perspective sometimes.

So, idk is that a "boglehead"?
Not really

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Devil's Advocate
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Re: How many bogleheads do you know in real life?

Post by Devil's Advocate » Tue Feb 19, 2019 1:31 pm

financeidiot wrote:
Mon Feb 18, 2019 10:02 pm
A few (4 people ages 25-40). I was turned onto BH philosophy by people I met in real life, most notably a MMM subscriber who introduced me to MMM, which led to Mad Fientist--> JLCollinsNH-->White Coat Investor-->Bogleheads-->Random Walk Down Wall Street--> Rick Ferri-->Current Investment Plan & Asset Allocation.

The key characteristic that separates BHers (and similar) I have met from others is that (1) they had a memorable negative experience or lack of options in life they believe was caused or exacerbated by lack of financial security and (2) they have a clear end goal (a number, a lifestyle, options) that they are actively working towards to never repeat that situation again. Most "normal" people I know are focused on keeping alive the dream of a high ceiling instead of guaranteeing a high floor.
Man, that's a pretty decent description

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Devil's Advocate
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Re: How many bogleheads do you know in real life?

Post by Devil's Advocate » Tue Feb 19, 2019 1:41 pm

goodenyou wrote:
Tue Feb 19, 2019 9:39 am
Let’s be real. Boglehead-style investing is not sexy. It is boring to most people. Most people want to talk about sexy investing. It is more interesting. They don’t want to be average, they want to be better. The rest would rather put their head in the sand because it is too painful.
A couple of the docs I work for know bogleheads theory. One of the two thinks his guy can outperform the market. He uses the single target retirement fund as a benchmark. So far his guy has done well. Like a one or two year track mark has any statistical significance.

These are smart guys who should know better. Read the data! As an analogy using a two year track mark on the patient with coronary artery disease not taking his meds and saying since he didnt suffer an MI then he likely is doing ok. Arghhhh!

DA

Every things free
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Re: How many bogleheads do you know in real life?

Post by Every things free » Tue Feb 19, 2019 1:42 pm

I've never met a Boglehead in person. Maybe someday I hope.
You know when you are rich. You can buy anything you want but want nothing.

StandingRock
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Re: How many bogleheads do you know in real life?

Post by StandingRock » Tue Feb 19, 2019 1:51 pm

The official definition of boglehead so far as I can tell describes an investment philosophy, the forum itself has topics all over the place.

If someone told you they had an IRA at Vanguard, but they were living paycheck to paycheck in a 4,000 sq foot McMansion filled with expensive furniture, would you think they were a boglehead?

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goingup
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Re: How many bogleheads do you know in real life?

Post by goingup » Tue Feb 19, 2019 1:53 pm

l1am wrote:
Mon Feb 18, 2019 9:48 pm
Zero, including myself. I don't like labels like that.

- I do follow a lazy 3-fund portfolio strategy for the most part, inspired by Bogle's philosophy.
- I do hold a reasonable percentage also in individual stocks.
- I do hold cryptocurrency.
- I do gamble some money in other higher risk investments, casino games etc.
- I do consciously make "bad purchases" from a purely financial perspective sometimes.

So, idk is that a "boglehead"?
I think you could loosely qualify. :D It's really about whether you self-identify with the philosophy.
The Bogleheads® Philosophy
*Develop a workable plan
*Invest early and often
*Never bear too much or too little risk
*Never try to time the market
*Use index funds when possible
*Keep costs low
*Diversify
*Minimize taxes
*Keep it simple
*Stay the course

JBTX
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Re: How many bogleheads do you know in real life?

Post by JBTX » Tue Feb 19, 2019 1:54 pm

As to saving a great deal, investing it in funds and retirement assets (not necessarily all or mostly index Funds), both my dad and brother would qualify. Beyond that I honestly really don't know. 2 friends and former coworkers maybe. Money really never comes up in discussions.

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Re: How many bogleheads do you know in real life?

Post by bloom2708 » Tue Feb 19, 2019 1:59 pm

People are icebergs. You can tell almost nothing by outward appearances.

Unless you are have such a close relationship with someone that you are basically swapping "net worth statements", it is near impossible to glean anything from watching others.

I have a couple of friends close enough that we know we all have paid off mortgages. I know nothing else about their situations. We do talk about maxing pre-tax 401k. Roth IRAs. "Safe" topics like that.

Home without a mortgage? Car without a loan? Person without a student loan? Rent, lease?

Family money? Big inheritance? Sold a business? Insurance settlement? Massive credit card debt? No idea. No way to tell at all.

My parents would be considered Bogleheads without understanding. However, they spent 30 years with Edward Jones. They slowly came around to moving to Vanguard.

I frequently mention Bogleheads when some topic comes up. I don't go beyond that. Just check it out. Lots to learn.

Iceberg ahoy!
"We are not here to agree with you; we are here to provoke thoughtfulness." Unknown Boglehead

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galeno
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Re: How many bogleheads do you know in real life?

Post by galeno » Tue Feb 19, 2019 2:00 pm

Zero.
AA = 40/55/5. Expected CAGR = 3.8%. GSD (5y) = 6.2%. USD inflation (10 y) = 1.8%. AWR = 4.0%. TER = 0.4%. Port Yield = 2.82%. Term = 33 yr. FI Duration = 6.0 yr. Portfolio survival probability = 95%.

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Re: How many bogleheads do you know in real life?

Post by Herbert » Tue Feb 19, 2019 2:08 pm

This question really had me thinking for a while this morning. My father and mother are probably some of the only bogleheads that I know of in person...aside from many of the individuals on this forum! :beer I have many friends who earn a good income, but have saved very little for retirement, their children's education, emergencies, etc. because they are busy "keeping up with the jones". If one did not know these individuals that I am referencing, then they would think that financially they were in a much better position with their large home and expensive tastes. I know the lifestyle and saving/investing choices that my wife and I make are not for everyone, so I do not want to sound like I am looking down on their lifestyle choices. To each their own I suppose, but it is a bit eye opening when I really think about the lack of people I have been able to speak with face to face about saving and investing strategies. :|

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Re: How many bogleheads do you know in real life?

Post by TheHouse7 » Tue Feb 19, 2019 2:11 pm

RNJ wrote:
Mon Feb 18, 2019 4:50 pm
Zero.
+1 I just learned two out of the six co-workers I have Max their 401k. I do also. This does not mean any of the six are like bogleheads.
"PSX will always go up 20%, why invest in anything else?!" -Father-in-law early retired.

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Re: How many bogleheads do you know in real life?

Post by delamer » Tue Feb 19, 2019 3:06 pm

goingup wrote:
Tue Feb 19, 2019 1:53 pm
l1am wrote:
Mon Feb 18, 2019 9:48 pm
Zero, including myself. I don't like labels like that.

- I do follow a lazy 3-fund portfolio strategy for the most part, inspired by Bogle's philosophy.
- I do hold a reasonable percentage also in individual stocks.
- I do hold cryptocurrency.
- I do gamble some money in other higher risk investments, casino games etc.
- I do consciously make "bad purchases" from a purely financial perspective sometimes.

So, idk is that a "boglehead"?
I think you could loosely qualify. :D It's really about whether you self-identify with the philosophy.
The Bogleheads® Philosophy
*Develop a workable plan
*Invest early and often
*Never bear too much or too little risk
*Never try to time the market
*Use index funds when possible
*Keep costs low
*Diversify
*Minimize taxes
*Keep it simple
*Stay the course
This point gets lost in a lot of these discussions. Other than “invest early and often” there is nothing about the Boglehead investment philosophy that tells people how to spend their money.

Some posters seem to think if you don’t max out all retirement accounts, buy used Honda Civics, and shop at Goodwill, then you can’t be a Boglehead. While those things will help you get to FIRE status sooner, they aren’t required to be Bogleheads.

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Re: How many bogleheads do you know in real life?

Post by goodenyou » Tue Feb 19, 2019 3:07 pm

StandingRock wrote:
Tue Feb 19, 2019 1:51 pm
The official definition of boglehead so far as I can tell describes an investment philosophy, the forum itself has topics all over the place.

If someone told you they had an IRA at Vanguard, but they were living paycheck to paycheck in a 4,000 sq foot McMansion filled with expensive furniture, would you think they were a boglehead?
No. They are stupid.
"Ignorance more frequently begets confidence than does knowledge" | "The best years you have left are the ones you have right now"

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Re: How many bogleheads do you know in real life?

Post by Polaris » Tue Feb 19, 2019 3:11 pm

My siblings are the most likely candidates, although we don't talk about investing much. My parents were pretty frugal and good savers, but their retirement assets were lower than I had assumed when I got a chance to see under the covers after my Dad died last year. My Mom has enough to be comfortable, but still not to the degree that I had figured after talking investing with my Dad over the years.

We don't have a giant fancy house, keep our cars a long time, and don't take expensive vacations, so I'm not even sure others have a clue about the wealth my wife and I have accumulated. My MIL did tell my wife that we're the only ones that "aren't crazy" since we don't throw money around like my wife's siblings do, but I bet she would be surprised by our net worth.

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Re: How many bogleheads do you know in real life?

Post by l1am » Tue Feb 19, 2019 5:00 pm

delamer wrote:
Tue Feb 19, 2019 3:06 pm
Some posters seem to think if you don’t max out all retirement accounts, buy used Honda Civics, and shop at Goodwill, then you can’t be a Boglehead. While those things will help you get to FIRE status sooner, they aren’t required to be Bogleheads.
I do generally follow Boglehead investment strategy. But I've found that focusing too heavily on any one thing in life is not a recipe that maximizes my happiness. Enjoying the present, and the journey (especially while relatively young) is important too.

I try to think of things in terms of minimizing regret. If I never invested at all, I'd regret it. If I lived extremely frugally in order to retire 5-10 years younger, I'd regret it I think.

tldr; Balance is key. From my experience in the real world, people overweight present enjoyment (instant gratification). From my experience on this forum, people overweight delayed gratification. But that is just my opinion.

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Re: How many bogleheads do you know in real life?

Post by Tdubs » Tue Feb 19, 2019 5:25 pm

One co-worker. He doesn't read BH much but lives it. Really influenced me to be more diligent about it.

No one else even talks about money. I wish they would. When my family occasionally let's something slip out, it is often alarming. But there is no way to have a conversation. You realize no one wants to have a conversation that might reveal that they handle money and investments badly.

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Re: How many bogleheads do you know in real life?

Post by Cycle » Tue Feb 19, 2019 5:25 pm

0, but I'm a bot
Never look back unless you are planning to go that way

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Re: How many bogleheads do you know in real life?

Post by PQ12$ » Tue Feb 19, 2019 5:51 pm

I love this question you pose -- thanks for posting it. I think a few people have mis-interpreted it as being "do you like to talk about money" with others.

I interpreted it as - "do you like to talk about having a plan for a successful, predictable, low-stress-as-it-comes-to-money retirement."

Recently converted to Bogleism, I am 56 and find most of my friends, peers and family REALLY intrigued by the idea that at this age you can (if willing) do the basic math and know exactly what kind of retirement financial shape you will likely be in at 65. And if you don't like the math you probably have time to change it. At that point the ideas espoused here - figuring out where your money is going, living below your means, buy/hold/low cost, etc.start to resonate.

I am amazed at how few people in my circle -- many of them very smart in their chosen field, have done this simple math. What makes me happiest is when I can get someone in their 30's to pay attention -- then the gift of compound wisdom really kicks in.

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Re: How many bogleheads do you know in real life?

Post by sergeant » Tue Feb 19, 2019 6:38 pm

Just my wife but she doesn't know it as she has no interest in finances other than knowing everything is taken care of.
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ray.james
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Re: How many bogleheads do you know in real life?

Post by ray.james » Tue Feb 19, 2019 6:46 pm

Actually quite a few and I have been surprised by a fair margin! However they are bogleheads in a complete different sense. Most bought homes with 10% down and seem to have paid off their heloc/10% second loan portion in 2 years. This is Bay area. So I have been extremely impressed. Few couples have tenants/Housemates for 1 bedroom and openly say they are house hacking as in exact word. The plan is to not have housemates once they have kids. Not a lot of them max 401k but I know most are getting the match. Most drive a prius/leaf/civic and do not talk about replacing them(ofcourse a few beemers/teslas). So overall figure me impressed.

We do have one couple who make I think make 400k but spend almost all, but not over. And one couple in 300-350K but live like 50k budgeted. That's for the extreme cases. Working in tech, I think boglehead-ish savers are more common in this field. Just my view.

Edit: After reading some more posts, I have to say and agree with few other posters, we became saves because we graduated in 2009 recession and scrimped before landing on feet right. I see the same among my peer older 27-33 millennial's.
Last edited by ray.james on Tue Feb 19, 2019 7:34 pm, edited 1 time in total.
When in doubt, http://www.bogleheads.org/forum/viewtopic.php?f=1&t=79939

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Re: How many bogleheads do you know in real life?

Post by Doom&Gloom » Tue Feb 19, 2019 6:58 pm

sergeant wrote:
Tue Feb 19, 2019 6:38 pm
Just my wife but she doesn't know it as she has no interest in finances other than knowing everything is taken care of.
That sounds a lot like my wife.

One surprising trait that she has picked up is that her alarms go off when we meet someone socially who is an investment advisor :beer

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Re: How many bogleheads do you know in real life?

Post by epoxyresin » Tue Feb 19, 2019 7:14 pm

texasdiver wrote:
Mon Feb 18, 2019 4:03 pm
mcraepat9 wrote:
Mon Feb 18, 2019 3:57 pm
Most of my contemporaries and friends are Bogleheads (though some would not call themselves that) - they live below their means and invest in low cost index funds only. To me, that is 80% of what being a Boglehead is.

It is generational though. My contemporaries are older Millenials (aged 28-35), so they started working/early in work career when the 2008 crisis hit and they never had a chance to make bad decisions overbuying a house, a car or (gasp) whole life insurance.
It may be generational. My contemporaries are 45-55 and I see so many doing things like taking out loans, second mortages, and tapping retirement savings to pay for college tuition, that sort of thing. Others who own money-pit vacation rentals that suck up all their time and energy. And a bunch in both education and medicine who just seem to be trusting that their employer pensions and retirement plans are going to work out for them without additional saving on their part. I don't know how many teachers I know who have nothing saved for retirement other than their pension and social security.
Will their pensions and social security not be enough?

I suspect that many on this board will die with a lot of money, because they needed the cushion to protect against low probability events. I'm not saying that's wrong, but I suspect that most of our friends who we call living beyond their means will have a perfectly adequate retirement. Social security will keep them from having to eat cat food. They will probably take fewer ski trips than they are now, but they'll also be older and less able to enjoy a ski trip.

I think what makes you a Boglehead is not paying financial fees that you don't have to. With that definition, plenty of people who have their 401K invested in a target retirement fund or a S&P500 fund qualify, even if they aren't saving a ton, or aren't saving outside of their retirement accounts.

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Re: How many bogleheads do you know in real life?

Post by darkhorse346 » Tue Feb 19, 2019 7:44 pm

Can my wife and kids be honorable mention Bogleheads? :D

All kidding aside, no, I don't know any. When I talk about indexing and low cost at work or maybe in social situations, people's' eyes glaze over.

They just have their friendly "guy" or "lady" that handles their investing for them. :oops:

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Re: How many bogleheads do you know in real life?

Post by Elsebet » Tue Feb 19, 2019 7:55 pm

If you count the Bogleheads I've met at the Seattle get-togethers, then I know quite a few. :)

There were two co-workers at my last job who had LBYM tendencies. One read MMM's blog but didn't know about Bogleheads. The other was frugal but talked about doing a lot of market timing things with his portfolio.
"...the man who adapts himself to his slender means and makes himself wealthy on a little sum, is the truly rich man..." ~Seneca

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Re: How many bogleheads do you know in real life?

Post by Toons » Tue Feb 19, 2019 8:07 pm

0
:happy
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Re: How many bogleheads do you know in real life?

Post by joe8d » Tue Feb 19, 2019 8:12 pm

None.
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Re: How many bogleheads do you know in real life?

Post by GCD » Tue Feb 19, 2019 8:22 pm

My dad was a BH from back sometime in the late 70's/early 80's. He started talking to me about finance during my early college years, but not as much as he should have. The one thing I do remember is him telling me to beware of fees. He also turned me on to Vanguard. He's dead now and while his minimal lessons took with me, they unfortunately did not with my mom. My wife is a converted BH, but not sure if we are counting spouses?

Other than that, nobody.

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