Millionaire Next Door (Thank you Bogleheads)

Have a question about your personal investments? No matter how simple or complex, you can ask it here.
B. Wellington
Posts: 60
Joined: Fri Mar 30, 2012 10:10 am

Millionaire Next Door (Thank you Bogleheads)

Post by B. Wellington » 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

highercall
Posts: 36
Joined: Wed Jun 04, 2008 6:16 pm

Re: Millionaire Next Door (Thank you Bogleheads)

Post by highercall » Thu Oct 05, 2017 11:45 am

Congratulations to the club....thanks for sharing.

Slothmeister
Posts: 52
Joined: Sun Sep 10, 2017 11:48 am

Re: Millionaire Next Door (Thank you Bogleheads)

Post by Slothmeister » Thu Oct 05, 2017 11:46 am

Cheers to you and your mom!

MathWizard
Posts: 2631
Joined: Tue Jul 26, 2011 1:35 pm

Re: Millionaire Next Door (Thank you Bogleheads)

Post by MathWizard » Thu Oct 05, 2017 11:46 am

Congrats!

Sorry to hear about your mother.

JBTX
Posts: 1522
Joined: Wed Jul 26, 2017 12:46 pm

Re: Millionaire Next Door (Thank you Bogleheads)

Post by JBTX » Thu Oct 05, 2017 11:46 am

Congrats! I'm sure she would have been quite proud of your accomplishments!

gowest
Posts: 13
Joined: Sun Nov 22, 2009 10:32 am

Re: Millionaire Next Door (Thank you Bogleheads)

Post by gowest » Thu Oct 05, 2017 11:57 am

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.
:sharebeer

Grt2bOutdoors
Posts: 17138
Joined: Thu Apr 05, 2007 8:20 pm
Location: New York

Re: Millionaire Next Door (Thank you Bogleheads)

Post by Grt2bOutdoors » Thu Oct 05, 2017 12:02 pm

Congratulations to you and your mother! :sharebeer 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.
"One should invest based on their need, ability and willingness to take risk - Larry Swedroe" Asking Portfolio Questions

User avatar
djpeteski
Posts: 269
Joined: Fri Mar 31, 2017 9:07 am

Re: Millionaire Next Door (Thank you Bogleheads)

Post by djpeteski » Thu Oct 05, 2017 12:06 pm

Hero! Great work! :sharebeer

Olemiss540
Posts: 187
Joined: Fri Aug 18, 2017 8:46 pm

Re: Millionaire Next Door (Thank you Bogleheads)

Post by Olemiss540 » Thu Oct 05, 2017 12:12 pm

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!

Maya1234
Posts: 53
Joined: Mon Jun 19, 2017 11:10 pm

Re: Millionaire Next Door (Thank you Bogleheads)

Post by Maya1234 » Thu Oct 05, 2017 12:12 pm

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.

rg422
Posts: 44
Joined: Wed Jan 18, 2017 4:35 pm

Re: Millionaire Next Door (Thank you Bogleheads)

Post by rg422 » Thu Oct 05, 2017 12:30 pm

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.

TravelforFun
Posts: 832
Joined: Tue Dec 04, 2012 11:05 pm

Re: Millionaire Next Door (Thank you Bogleheads)

Post by TravelforFun » Thu Oct 05, 2017 12:35 pm

Congratulations! Hope you come back here in a few years and declare, 'I'm a multimillionaire.'.

User avatar
Sandtrap
Posts: 2382
Joined: Sat Nov 26, 2016 6:32 pm
Location: Hawaii😀 Northern AZ.😳

Re: Millionaire Next Door (Thank you Bogleheads)

Post by Sandtrap » Thu Oct 05, 2017 12:49 pm

Congratulations from a fellow "joe blue collar".
Doing it the tough way. You made it.
:sharebeer

DarthSage
Posts: 68
Joined: Tue Sep 19, 2017 9:39 am

Re: Millionaire Next Door (Thank you Bogleheads)

Post by DarthSage » Thu Oct 05, 2017 1:06 pm

Congratulations! I'm sure your mom is very proud, looking down at you. :beer

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.

Fire2030
Posts: 10
Joined: Mon Jul 17, 2017 9:03 am

Re: Millionaire Next Door (Thank you Bogleheads)

Post by Fire2030 » Thu Oct 05, 2017 1:20 pm

Congratulations !!

Great story , your mum will be proud !! :sharebeer

onthecusp
Posts: 260
Joined: Mon Aug 29, 2016 3:25 pm

Re: Millionaire Next Door (Thank you Bogleheads)

Post by onthecusp » Thu Oct 05, 2017 1:28 pm

Yay for the Wellington's! :sharebeer
Sounds like you started early as a smart investor. :P

User avatar
jfn111
Posts: 798
Joined: Fri Nov 08, 2013 10:42 pm
Location: Minnesota

Re: Millionaire Next Door (Thank you Bogleheads)

Post by jfn111 » Thu Oct 05, 2017 1:30 pm

Congrats :sharebeer

jornsy
Posts: 16
Joined: Tue Jul 10, 2012 4:21 pm

Re: Millionaire Next Door (Thank you Bogleheads)

Post by jornsy » Thu Oct 05, 2017 1:49 pm

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 :sharebeer

User avatar
TD2626
Posts: 519
Joined: Thu Mar 16, 2017 3:40 pm

Re: Millionaire Next Door (Thank you Bogleheads)

Post by TD2626 » Thu Oct 05, 2017 2:24 pm

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!

User avatar
czeckers
Posts: 930
Joined: Thu May 17, 2007 3:49 pm
Location: Upstate NY

Re: Millionaire Next Door (Thank you Bogleheads)

Post by czeckers » Thu Oct 05, 2017 3:22 pm

Congratulations!

Out of curiosity, do you own shares of the VG Wellington fund?
The Espresso portfolio: | | 16% LCV, 16% SCV, 16% EM, 8% Int'l Value, 8% Int'l Sm, 8% US REIT, 8% Int'l REIT, 20% Inter-term US Treas | | "A journey of a thousand miles begins with a single step."

User avatar
bligh
Posts: 547
Joined: Wed Jul 27, 2016 9:13 pm

Re: Millionaire Next Door (Thank you Bogleheads)

Post by bligh » Thu Oct 05, 2017 3:26 pm

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!

User avatar
ruralavalon
Posts: 11680
Joined: Sat Feb 02, 2008 10:29 am
Location: Illinois

Re: Millionaire Next Door (Thank you Bogleheads)

Post by ruralavalon » Thu Oct 05, 2017 3:26 pm

Congratulations :D .
"Everything should be as simple as it is, but not simpler." - Albert Einstein | Wiki article link:Getting Started

2b2
Posts: 238
Joined: Sun Sep 28, 2008 7:21 am
Location: Location: Location:

Re: Millionaire Next Door (Thank you Bogleheads)

Post by 2b2 » Thu Oct 05, 2017 3:31 pm

Well done!
Congratulations to you and here's to your Mom!

2b2

retire57
Posts: 320
Joined: Fri Oct 28, 2016 3:03 pm

Re: Millionaire Next Door (Thank you Bogleheads)

Post by retire57 » Thu Oct 05, 2017 3:45 pm

Yay!!! :beer

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.

RudyS
Posts: 808
Joined: Tue Oct 27, 2015 10:11 am

Re: Millionaire Next Door (Thank you Bogleheads)

Post by RudyS » Thu Oct 05, 2017 3:55 pm

Congratulations! :sharebeer

Texanbybirth
Posts: 587
Joined: Tue Apr 14, 2015 12:07 pm

Re: Millionaire Next Door (Thank you Bogleheads)

Post by Texanbybirth » Thu Oct 05, 2017 4:06 pm

Congratulations!

(It's great to have a place like this to anonymously celebrate milestones.)

User avatar
Ice-9
Posts: 1203
Joined: Wed Oct 15, 2008 12:40 pm
Location: Rockville, MD

Re: Millionaire Next Door (Thank you Bogleheads)

Post by Ice-9 » Thu Oct 05, 2017 4:15 pm

retire57 wrote:
Thu Oct 05, 2017 3:45 pm
Yay!!! :beer

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.
Congrats to the OP, and thanks for the recommendation to retire57!

:sharebeer

User avatar
ruralavalon
Posts: 11680
Joined: Sat Feb 02, 2008 10:29 am
Location: Illinois

Re: Millionaire Next Door (Thank you Bogleheads)

Post by ruralavalon » Thu Oct 05, 2017 4:18 pm

retire57 wrote:
Thu Oct 05, 2017 3:45 pm
Yay!!! :beer

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.
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:Getting Started

Helo80
Posts: 436
Joined: Sat Apr 29, 2017 8:47 pm

Re: Millionaire Next Door (Thank you Bogleheads)

Post by Helo80 » Thu Oct 05, 2017 4:23 pm

Congrats!!!

I'll have to look up Stop Acting Rich.

dewey
Posts: 327
Joined: Fri Feb 24, 2012 11:42 am

Re: Millionaire Next Door (Thank you Bogleheads)

Post by dewey » Thu Oct 05, 2017 4:26 pm

Always great hearing the two comma news. Good for you!!!
“The only freedom that is of enduring importance is freedom of intelligence…”

TheHouse7
Posts: 203
Joined: Fri Jan 13, 2017 2:40 am

Re: Millionaire Next Door (Thank you Bogleheads)

Post by TheHouse7 » Thu Oct 05, 2017 4:34 pm

:beer 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.

User avatar
dratkinson
Posts: 3985
Joined: Thu Jul 26, 2007 6:23 pm
Location: Centennial CO

Re: Millionaire Next Door (Thank you Bogleheads)

Post by dratkinson » Thu Oct 05, 2017 4:36 pm

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.

User avatar
ChowYunPhat
Posts: 29
Joined: Mon Jun 02, 2014 7:49 pm
Location: Houston, TX

Re: Millionaire Next Door (Thank you Bogleheads)

Post by ChowYunPhat » Thu Oct 05, 2017 4:44 pm

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 :sharebeer

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...

Johnsson
Posts: 42
Joined: Mon Jul 17, 2017 2:28 pm

Re: Millionaire Next Door (Thank you Bogleheads)

Post by Johnsson » Thu Oct 05, 2017 4:52 pm

:sharebeer Congratulations!!!

User avatar
jmndu99
Posts: 321
Joined: Sun Jul 14, 2013 4:18 pm

Re: Millionaire Next Door (Thank you Bogleheads)

Post by jmndu99 » Thu Oct 05, 2017 5:16 pm

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

retire57
Posts: 320
Joined: Fri Oct 28, 2016 3:03 pm

Re: Millionaire Next Door (Thank you Bogleheads)

Post by retire57 » Thu Oct 05, 2017 5:58 pm

Ice-9 wrote:
Thu Oct 05, 2017 4:15 pm
retire57 wrote:
Thu Oct 05, 2017 3:45 pm
Yay!!! :beer

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.
Congrats to the OP, and thanks for the recommendation to retire57!

:sharebeer
The author's findings and recommendations will keep a Boglehead motivated for sure! :happy

DanMahowny
Posts: 75
Joined: Sun Aug 06, 2017 8:25 pm

Re: Millionaire Next Door (Thank you Bogleheads)

Post by DanMahowny » Thu Oct 05, 2017 6:17 pm

Well done! And thank you for sharing your story. Good stuff.

R.I.P. Mom

User avatar
mattyfu1
Posts: 54
Joined: Fri Dec 23, 2016 7:35 am

Re: Millionaire Next Door (Thank you Bogleheads)

Post by mattyfu1 » Thu Oct 05, 2017 6:30 pm

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

User avatar
Mel Lindauer
Moderator
Posts: 27498
Joined: Mon Feb 19, 2007 8:49 pm
Location: Daytona Beach Shores, Florida
Contact:

Re: Millionaire Next Door (Thank you Bogleheads)

Post by Mel Lindauer » Thu Oct 05, 2017 6:37 pm

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.
Best Regards - Mel | | Semper Fi

User avatar
blueblock
Posts: 829
Joined: Sun Oct 19, 2014 6:06 pm
Location: Wisconsin

Re: Millionaire Next Door (Thank you Bogleheads)

Post by blueblock » Thu Oct 05, 2017 6:57 pm

That's a lovely story, thanks for sharing.

User avatar
Raymond
Posts: 1184
Joined: Mon Apr 16, 2012 6:04 am
Location: Texas

Re: Millionaire Next Door (Thank you Bogleheads)

Post by Raymond » Thu Oct 05, 2017 7:06 pm

Outstanding!!! :sharebeer

Sorry about your mother, but she did raise you well :happy
"Ritter, Tod und Teufel"

KlangFool
Posts: 6960
Joined: Sat Oct 11, 2008 12:35 pm

Re: Millionaire Next Door (Thank you Bogleheads)

Post by KlangFool » Thu Oct 05, 2017 7:11 pm

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

Compound
Posts: 436
Joined: Mon May 26, 2014 1:32 pm

Re: Millionaire Next Door (Thank you Bogleheads)

Post by Compound » Thu Oct 05, 2017 7:42 pm

Well done and well said. Congratulations on passing the milestone you set so many years ago! :beer

User avatar
joe8d
Posts: 4240
Joined: Tue Feb 20, 2007 8:27 pm
Location: Buffalo,NY

Re: Millionaire Next Door (Thank you Bogleheads)

Post by joe8d » Thu Oct 05, 2017 8:05 pm

dratkinson wrote:
Thu Oct 05, 2017 4:36 pm
Congratulations. The first million is the hardest... or so I've been told. One day.
Yes, the 2nd sneaks up on you.
All the Best, | Joe

User avatar
CyclingDuo
Posts: 840
Joined: Fri Jan 06, 2017 9:07 am

Re: Millionaire Next Door (Thank you Bogleheads)

Post by CyclingDuo » Thu Oct 05, 2017 8:55 pm

B. Wellington wrote:
Thu Oct 05, 2017 11:42 am
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!
Cheers! Here's to you doubling that amount - be it 7 years, 10 years, 12 years or whatever it takes.

Yes, brand of booze chosen appropriately for this toast. And yes, it's live as I type this.

Image

DriveMyPrius
Posts: 4
Joined: Thu Oct 05, 2017 6:01 pm

Re: Millionaire Next Door (Thank you Bogleheads)

Post by DriveMyPrius » Thu Oct 05, 2017 8:59 pm

Congratulations! :happy
So sorry about the loss of your Mom. I miss mine terribly.

User avatar
abuss368
Posts: 11670
Joined: Mon Aug 03, 2009 2:33 pm
Location: Where the water is warm, the drinks are cold, and I don't know the names of the players!

Re: Millionaire Next Door (Thank you Bogleheads)

Post by abuss368 » Thu Oct 05, 2017 9:06 pm

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
Hi B. Wellington -

Congrats on your achievement and rest assured your Mom would be proud!

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

User avatar
abuss368
Posts: 11670
Joined: Mon Aug 03, 2009 2:33 pm
Location: Where the water is warm, the drinks are cold, and I don't know the names of the players!

Re: Millionaire Next Door (Thank you Bogleheads)

Post by abuss368 » Thu Oct 05, 2017 9:06 pm

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
P.S. Remember after one comes two!
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

slowbutsteady
Posts: 65
Joined: Fri Feb 27, 2015 9:42 am

Re: Millionaire Next Door (Thank you Bogleheads)

Post by slowbutsteady » Thu Oct 05, 2017 10:53 pm

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.
The tortoise wins every time I read that story.

pptiger
Posts: 17
Joined: Thu Aug 24, 2017 9:08 pm

Re: Millionaire Next Door (Thank you Bogleheads)

Post by pptiger » Thu Oct 05, 2017 11:12 pm

Thanks for sharing...this made me call my mom

Congratulations!

Post Reply