Millionaire Next Door (Thank you Bogleheads)
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Millionaire Next Door (Thank you Bogleheads)
With the help of many on this board and reminding me "to stay the coarse," Mrs. and Mr. B. Wellington quietly became the Millionaires Next door last month. Yes, a strong bull market helped us to this level.
Some of you know that we are not doctors or high paid engineers. We are Joe and Jane Lunchbox in blue collar positions who grew up in a small Midwestern town that most have never heard of.
This comes somewhat bitter-sweet, let me explain. My biggest supporter and "cheerleader," my mother, passed away last year. She often reminded me that at age 8 or 9 I said that I wanted to become a "millionaire" before I reached 50. I was 6 years late to the party, however she knew how hard I had worked and saved. She also knew I had (a few) investments.
We are very private people and to share this with others in the family or friends would be asking for trouble. The looks (we don't "fit" the millionaire myth.) Also the jealously, guilt trips etc. is not worth the pain it may cause.
So with that Bogleheads, please help me raise a glass in honor of my mom and help me quietly celebrate this milestone 48 years in the making...Cheers!
B. Wellington
Some of you know that we are not doctors or high paid engineers. We are Joe and Jane Lunchbox in blue collar positions who grew up in a small Midwestern town that most have never heard of.
This comes somewhat bitter-sweet, let me explain. My biggest supporter and "cheerleader," my mother, passed away last year. She often reminded me that at age 8 or 9 I said that I wanted to become a "millionaire" before I reached 50. I was 6 years late to the party, however she knew how hard I had worked and saved. She also knew I had (a few) investments.
We are very private people and to share this with others in the family or friends would be asking for trouble. The looks (we don't "fit" the millionaire myth.) Also the jealously, guilt trips etc. is not worth the pain it may cause.
So with that Bogleheads, please help me raise a glass in honor of my mom and help me quietly celebrate this milestone 48 years in the making...Cheers!
B. Wellington
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Re: Millionaire Next Door (Thank you Bogleheads)
Congratulations to the club....thanks for sharing.
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Re: Millionaire Next Door (Thank you Bogleheads)
Cheers to you and your mom!
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Re: Millionaire Next Door (Thank you Bogleheads)
Congrats!
Sorry to hear about your mother.
Sorry to hear about your mother.
Re: Millionaire Next Door (Thank you Bogleheads)
Congrats! I'm sure she would have been quite proud of your accomplishments!
Re: Millionaire Next Door (Thank you Bogleheads)
I love this sort of story. I read that book many years ago (Millionaire Next Door), and it's always great to hear about someone who has successfully accomplished what the book describes (since, as you know from the book, you wouldn't otherwise be able to tell just by judging how someone looks or what car they drive, etc.). A very sincere congrats to you and the Mrs. Now keep at it.
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Re: Millionaire Next Door (Thank you Bogleheads)
Congratulations to you and your mother! Inspiring to hear stories like this. My condolences on your loss.
Have the book and still peruse it from time to time. The message never gets old.
Have the book and still peruse it from time to time. The message never gets old.
"One should invest based on their need, ability and willingness to take risk - Larry Swedroe" Asking Portfolio Questions
Re: Millionaire Next Door (Thank you Bogleheads)
Hero! Great work!
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Re: Millionaire Next Door (Thank you Bogleheads)
Fantastic! Any sage advice from your experience building the 7 figures in blue collar jobs, any stories on things that tried to derail your progress and how you navigated it?
I am sure mom is proud!
I am sure mom is proud!
I hold index funds because I do not overestimate my ability to pick stocks OR stock pickers.
Re: Millionaire Next Door (Thank you Bogleheads)
Congrats! You should be so proud!!
I would find it so hard to be keeping my financial situation a secret from family and close friends. I'm lucky because I don't need to. Our family is all in similiar circumstances. We thus can discuss strategies and investment advice. My friends at work have done work on my family's estate so they know what I have and I can have similiar discussions with them. My other friends are in situations where while I don't directly discuss it, I wouldn't be worried for them to know. They all are well off.
My brother has some in-laws ( not this wife's parents but her First cousins who she is very close to ) who are in a very difffernt situation. They almost lost their home last year. My brother was not going to let that happen and paid off their mortgage which was about 79K They were very grateful and said something to her mom like " wow are you sure. Does he have like hundreds of thousands of dollars ? We don't want to have them hurting .") My brother ( and his MIL) assured them he would be fine but was not going to tell them he has millions.
I would find it so hard to be keeping my financial situation a secret from family and close friends. I'm lucky because I don't need to. Our family is all in similiar circumstances. We thus can discuss strategies and investment advice. My friends at work have done work on my family's estate so they know what I have and I can have similiar discussions with them. My other friends are in situations where while I don't directly discuss it, I wouldn't be worried for them to know. They all are well off.
My brother has some in-laws ( not this wife's parents but her First cousins who she is very close to ) who are in a very difffernt situation. They almost lost their home last year. My brother was not going to let that happen and paid off their mortgage which was about 79K They were very grateful and said something to her mom like " wow are you sure. Does he have like hundreds of thousands of dollars ? We don't want to have them hurting .") My brother ( and his MIL) assured them he would be fine but was not going to tell them he has millions.
Re: Millionaire Next Door (Thank you Bogleheads)
Congrats!!
Posts like this keep us motivated. We're a long way from that number, but we're staying the course til we get there.
Posts like this keep us motivated. We're a long way from that number, but we're staying the course til we get there.
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Re: Millionaire Next Door (Thank you Bogleheads)
Congratulations! Hope you come back here in a few years and declare, 'I'm a multimillionaire.'.
- Sandtrap
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Re: Millionaire Next Door (Thank you Bogleheads)
Congratulations from a fellow "joe blue collar".
Doing it the tough way. You made it.
Doing it the tough way. You made it.
Re: Millionaire Next Door (Thank you Bogleheads)
Congratulations! I'm sure your mom is very proud, looking down at you.
We also "live next door", and like you, can't talk about it. Well, I can with my sister--she also "lives next door". Our brothers have no clue.
When we hit the milestone, DH and I made a pact not to tell anyone. But a couple weeks ago, he confessed that he let it slip to his brother. Their mom died a couple months ago, and BIL mentioned that, when the inheritance came through, they'd each be millionaires. DH couldn't resist, and said that he already was. I don't really blame him, though--all his life, DH has been treated like the "stupid little brother", and BIL thought he was a big wheeler-dealer investor. Of course, BIL was always chasing trends, trying to time the market, etc., while we went the slow and steady route.
We also "live next door", and like you, can't talk about it. Well, I can with my sister--she also "lives next door". Our brothers have no clue.
When we hit the milestone, DH and I made a pact not to tell anyone. But a couple weeks ago, he confessed that he let it slip to his brother. Their mom died a couple months ago, and BIL mentioned that, when the inheritance came through, they'd each be millionaires. DH couldn't resist, and said that he already was. I don't really blame him, though--all his life, DH has been treated like the "stupid little brother", and BIL thought he was a big wheeler-dealer investor. Of course, BIL was always chasing trends, trying to time the market, etc., while we went the slow and steady route.
Re: Millionaire Next Door (Thank you Bogleheads)
Congratulations !!
Great story , your mum will be proud !!
Great story , your mum will be proud !!
Re: Millionaire Next Door (Thank you Bogleheads)
Yay for the Wellington's!
Sounds like you started early as a smart investor.
Sounds like you started early as a smart investor.
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Re: Millionaire Next Door (Thank you Bogleheads)
Congratulations!
It is a wonderful feeling to see two commas in your investment account. I'm 53 now and hoping we can double it before I retire in seven years. Our secret was living below our means and investing at least 50% of every raise I received over a 20 year period. We started out small, $200/month, but it adds up over time and having good diligence for saving/investing.
Here's to Future Financial Freedom
It is a wonderful feeling to see two commas in your investment account. I'm 53 now and hoping we can double it before I retire in seven years. Our secret was living below our means and investing at least 50% of every raise I received over a 20 year period. We started out small, $200/month, but it adds up over time and having good diligence for saving/investing.
Here's to Future Financial Freedom
Re: Millionaire Next Door (Thank you Bogleheads)
Congratulations - and this is how it's done! By quietly working hard, saving a lot, and investing wisely, nearly anyone can secure their financial future. It's great that you're one of the few to do this successfully!
Re: Millionaire Next Door (Thank you Bogleheads)
Congratulations!
Out of curiosity, do you own shares of the VG Wellington fund?
Out of curiosity, do you own shares of the VG Wellington fund?
The Espresso portfolio: |
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20% US TSM, 20% Small Value, 10% US REIT, 10% Dev Int'l, 10% EM, 10% Commodities, 20% Inter-term US Treas |
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"A journey of a thousand miles begins with a single step."
Re: Millionaire Next Door (Thank you Bogleheads)
Congratulations to you and the wife... and your mother. I am sure she is up there looking down upon you right now with pride in her eyes and a smile on her face.
Good job and keep at it! Best of luck!
Good job and keep at it! Best of luck!
- ruralavalon
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Re: Millionaire Next Door (Thank you Bogleheads)
Congratulations .
"Everything should be as simple as it is, but not simpler." - Albert Einstein |
Wiki article link: Bogleheads® investment philosophy
Re: Millionaire Next Door (Thank you Bogleheads)
Well done!
Congratulations to you and here's to your Mom!
2b2
Congratulations to you and here's to your Mom!
2b2
Re: Millionaire Next Door (Thank you Bogleheads)
Yay!!!
BTW, folks always refer to "The Millionaire Next Door", but rarely to Dr. Stanley's other researched-based work "Stop Acting Rich". The latter is an even more informative read, IMO.
BTW, folks always refer to "The Millionaire Next Door", but rarely to Dr. Stanley's other researched-based work "Stop Acting Rich". The latter is an even more informative read, IMO.
Last edited by retire57 on Thu Oct 05, 2017 4:00 pm, edited 1 time in total.
Re: Millionaire Next Door (Thank you Bogleheads)
Congratulations!
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Re: Millionaire Next Door (Thank you Bogleheads)
Congratulations!
(It's great to have a place like this to anonymously celebrate milestones.)
(It's great to have a place like this to anonymously celebrate milestones.)
“The strong cannot be brave. Only the weak can be brave; and yet again, in practice, only those who can be brave can be trusted, in time of doubt, to be strong.“ - GK Chesterton
- ruralavalon
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Re: Millionaire Next Door (Thank you Bogleheads)
Thanks for the book recommendation, I just bought Stop Acting Rich.
"Everything should be as simple as it is, but not simpler." - Albert Einstein |
Wiki article link: Bogleheads® investment philosophy
Re: Millionaire Next Door (Thank you Bogleheads)
Congrats!!!
I'll have to look up Stop Acting Rich.
I'll have to look up Stop Acting Rich.
Thank God for Wall Street Bets.
Re: Millionaire Next Door (Thank you Bogleheads)
Always great hearing the two comma news. Good for you!!!
“The only freedom that is of enduring importance is freedom of intelligence…” John Dewey
Re: Millionaire Next Door (Thank you Bogleheads)
My mother had supported me in the same way, she is 3 years past.
"PSX will always go up 20%, why invest in anything else?!" -Father-in-law early retired.
- dratkinson
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Re: Millionaire Next Door (Thank you Bogleheads)
Congratulations. The first million is the hardest... or so I've been told. One day.
d.r.a., not dr.a. | I'm a novice investor; you are forewarned.
- ChowYunPhat
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Re: Millionaire Next Door (Thank you Bogleheads)
Congratulations! This is a great feeling and it's great that you can celebrate with fellow BHs. Keep staying the course and watch out for lifestyle creep. It's OK to celebrate a little though
It's a great reminder to me and others why we stay focused. Keep up the great work!
It's a great reminder to me and others why we stay focused. Keep up the great work!
A wise man and his money are friends forever...
Re: Millionaire Next Door (Thank you Bogleheads)
Congratulations!!!
'In theory there is no difference between theory and practice. In practice there is.' Yogi Berra
Re: Millionaire Next Door (Thank you Bogleheads)
Congratulations Op
Thank you for sharing with us fellow Bogle heads. The Mrs and I are also "lunchbox" (love that BTW).
Your story is inspiring.
James
Thank you for sharing with us fellow Bogle heads. The Mrs and I are also "lunchbox" (love that BTW).
Your story is inspiring.
James
Re: Millionaire Next Door (Thank you Bogleheads)
- DanMahowny
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Re: Millionaire Next Door (Thank you Bogleheads)
Well done! And thank you for sharing your story. Good stuff.
R.I.P. Mom
R.I.P. Mom
Funding secured
Re: Millionaire Next Door (Thank you Bogleheads)
Amazing and inspiring!! Thank you for the share - working my way !
Side note question: Entering the "Millionaire Next store" club :
-Is this a liquid million (cash, stocks) ?
-Can it also include real estate (paid off or not), trusts or other assets that are paid off?
Maybe there is no real definition, just wanted to ask.
Thanks!
-MattyFu
Side note question: Entering the "Millionaire Next store" club :
-Is this a liquid million (cash, stocks) ?
-Can it also include real estate (paid off or not), trusts or other assets that are paid off?
Maybe there is no real definition, just wanted to ask.
Thanks!
-MattyFu
- Mel Lindauer
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Re: Millionaire Next Door (Thank you Bogleheads)
Congrats on that great achievement. You're an inspiration to others who are working to achieve that second comma.
I have no doubt your Mom is up in Heaven, proudly bragging to anyone who will listen as she points at you and says "That's my son and he's a millionaire!".
Well done. You should be proud of your accomplishment.
I have no doubt your Mom is up in Heaven, proudly bragging to anyone who will listen as she points at you and says "That's my son and he's a millionaire!".
Well done. You should be proud of your accomplishment.
Best Regards - Mel |
|
Semper Fi
Re: Millionaire Next Door (Thank you Bogleheads)
That's a lovely story, thanks for sharing.
Re: Millionaire Next Door (Thank you Bogleheads)
Outstanding!!!
Sorry about your mother, but she did raise you well
Sorry about your mother, but she did raise you well
"Ritter, Tod und Teufel"
Re: Millionaire Next Door (Thank you Bogleheads)
OP,
Congratulation! Your story proves the point that you do not need high income in order to reach millionaire status.
I bought the book, "Millionaire Next Door" on clearance and gave them out regularly.
KlangFool
Congratulation! Your story proves the point that you do not need high income in order to reach millionaire status.
I bought the book, "Millionaire Next Door" on clearance and gave them out regularly.
KlangFool
30% VWENX | 16% VFWAX/VTIAX | 14.5% VTSAX | 19.5% VBTLX | 10% VSIAX/VTMSX/VSMAX | 10% VSIGX| 30% Wellington 50% 3-funds 20% Mini-Larry
Re: Millionaire Next Door (Thank you Bogleheads)
Well done and well said. Congratulations on passing the milestone you set so many years ago!
Re: Millionaire Next Door (Thank you Bogleheads)
Yes, the 2nd sneaks up on you.dratkinson wrote: ↑Thu Oct 05, 2017 4:36 pm Congratulations. The first million is the hardest... or so I've been told. One day.
All the Best, |
Joe
- CyclingDuo
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Re: Millionaire Next Door (Thank you Bogleheads)
Cheers! Here's to you doubling that amount - be it 7 years, 10 years, 12 years or whatever it takes.B. Wellington wrote: ↑Thu Oct 05, 2017 11:42 amSo with that Bogleheads, please help me raise a glass in honor of my mom and help me quietly celebrate this milestone 48 years in the making...Cheers!
Yes, brand of booze chosen appropriately for this toast. And yes, it's live as I type this.
"Save like a pessimist, invest like an optimist." - Morgan Housel |
"Pick a bushel, save a peck!" - Grandpa
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Re: Millionaire Next Door (Thank you Bogleheads)
Congratulations!
So sorry about the loss of your Mom. I miss mine terribly.
So sorry about the loss of your Mom. I miss mine terribly.
- abuss368
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Re: Millionaire Next Door (Thank you Bogleheads)
Hi B. Wellington -B. Wellington wrote: ↑Thu Oct 05, 2017 11:42 am With the help of many on this board and reminding me "to stay the coarse," Mrs. and Mr. B. Wellington quietly became the Millionaires Next door last month. Yes, a strong bull market helped us to this level.
Some of you know that we are not doctors or high paid engineers. We are Joe and Jane Lunchbox in blue collar positions who grew up in a small Midwestern town that most have never heard of.
This comes somewhat bitter-sweet, let me explain. My biggest supporter and "cheerleader," my mother, passed away last year. She often reminded me that at age 8 or 9 I said that I wanted to become a "millionaire" before I reached 50. I was 6 years late to the party, however she knew how hard I had worked and saved. She also knew I had (a few) investments.
We are very private people and to share this with others in the family or friends would be asking for trouble. The looks (we don't "fit" the millionaire myth.) Also the jealously, guilt trips etc. is not worth the pain it may cause.
So with that Bogleheads, please help me raise a glass in honor of my mom and help me quietly celebrate this milestone 48 years in the making...Cheers!
B. Wellington
Congrats on your achievement and rest assured your Mom would be proud!
Best.
John C. Bogle: “Simplicity is the master key to financial success."
- abuss368
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Re: Millionaire Next Door (Thank you Bogleheads)
P.S. Remember after one comes two!B. Wellington wrote: ↑Thu Oct 05, 2017 11:42 am With the help of many on this board and reminding me "to stay the coarse," Mrs. and Mr. B. Wellington quietly became the Millionaires Next door last month. Yes, a strong bull market helped us to this level.
Some of you know that we are not doctors or high paid engineers. We are Joe and Jane Lunchbox in blue collar positions who grew up in a small Midwestern town that most have never heard of.
This comes somewhat bitter-sweet, let me explain. My biggest supporter and "cheerleader," my mother, passed away last year. She often reminded me that at age 8 or 9 I said that I wanted to become a "millionaire" before I reached 50. I was 6 years late to the party, however she knew how hard I had worked and saved. She also knew I had (a few) investments.
We are very private people and to share this with others in the family or friends would be asking for trouble. The looks (we don't "fit" the millionaire myth.) Also the jealously, guilt trips etc. is not worth the pain it may cause.
So with that Bogleheads, please help me raise a glass in honor of my mom and help me quietly celebrate this milestone 48 years in the making...Cheers!
B. Wellington
John C. Bogle: “Simplicity is the master key to financial success."
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Re: Millionaire Next Door (Thank you Bogleheads)
Congratulations!!...and thanks for sharing your inspiring story. Not an easy road, but shows the power of a clear goal, determination, and persistence.
You have made your mom proud too.
You have made your mom proud too.
The tortoise wins every time I read that story.
Re: Millionaire Next Door (Thank you Bogleheads)
Thanks for sharing...this made me call my mom
Congratulations!
Congratulations!