How many bogleheads do you know in real life?

US Local Chapters, Wiki, and general Bogleheads community discussion, news, events, and announcements.
doob
Posts: 16
Joined: Sun Apr 05, 2020 11:15 am

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

Post by doob »

I do not know any in person, but I have been fortunate enough to be able to partially convert 401k participants in two organizations into bogleheads without them knowing it, I think. How?

First, I managed to convince the President of my smallish consulting firm (~50 employees) to let me redesign our 401k plan from scratch. He agreed. So, I turned it into a haven of ultra low cost broad market based funds and target date funds, mostly from Vanguard. For the administration of the plan, I chose one of three well know low cost administrators like EF/Ascensus, etc.

Second, I convinced my wife (who is effectively the CFO at her ~70 employee firm) to redesign their 401k plan. :twisted: It took her the better part of a year to convince her bosses (with slide decks, etc., to demonstrate the effect of costs supplied by me 8-) ) to let her do so. It finally happened in 2018. Then I helped her pick more or less the same set of low cost broad market based funds and target date funds and helped her persuade her bosses to pick up the administrative costs as well.

The employees both at her organization and mine are really not financially savvy, so it gives me a tiny bit of satisfaction to have been able to set them up the boglehead way. I hope they all enjoy a slightly better retirement as a result.
otinkyad
Posts: 257
Joined: Wed Jun 01, 2016 5:35 pm

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

Post by otinkyad »

Only one. I’ve got an uncomfortably frugal friend that pays an AUM fee. I’ve got another friend that seems to get the ideas: no AUM, low ERs, active funds can’t on average beat the market. His conclusion is that you have to switch between active funds to pick the winners, and he pays a fee-based advisor quarterly to do that. :oops:
User avatar
Stinky
Posts: 5314
Joined: Mon Jun 12, 2017 11:38 am
Location: Sweet Home Alabama

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

Post by Stinky »

doob wrote: Sun Sep 13, 2020 8:31 pm I do not know any in person, but I have been fortunate enough to be able to partially convert 401k participants in two organizations into bogleheads without them knowing it, I think. How?

First, I managed to convince the President of my smallish consulting firm (~50 employees) to let me redesign our 401k plan from scratch. He agreed. So, I turned it into a haven of ultra low cost broad market based funds and target date funds, mostly from Vanguard. For the administration of the plan, I chose one of three well know low cost administrators like EF/Ascensus, etc.

Second, I convinced my wife (who is effectively the CFO at her ~70 employee firm) to redesign their 401k plan. :twisted: It took her the better part of a year to convince her bosses (with slide decks, etc., to demonstrate the effect of costs supplied by me 8-) ) to let her do so. It finally happened in 2018. Then I helped her pick more or less the same set of low cost broad market based funds and target date funds and helped her persuade her bosses to pick up the administrative costs as well.

The employees both at her organization and mine are really not financially savvy, so it gives me a tiny bit of satisfaction to have been able to set them up the boglehead way. I hope they all enjoy a slightly better retirement as a result.
Congratulations! You helped more than 120 people adopt Boglehead principles into at least a part of their investing lives.

That’s more than most of us can accomplish in a lifetime. Good work!
It's a GREAT day to be alive - Travis Tritt
oldfort
Posts: 1572
Joined: Mon Mar 02, 2020 8:45 pm

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

Post by oldfort »

It depends on what you mean by boglehead.

If boglehead means investing in broad market index funds, which is how I would define the term, I know lots of bogleheads. This is Jack Bogle's investing philosophy.

If boglehead means living frugally, I know a fair number of those people. For one example, I can think of people who have never been on an airplane or wouldn't pay for orthodontist care for their kids.

If boglehead means being a top 2% income earner, so you can max out a backdoor roth, almost no one. My social circle doesn't run this wealthy.
User avatar
goodenyou
Posts: 2353
Joined: Sun Jan 31, 2010 11:57 pm
Location: Skating to Where the Puck is Going to Be..or on the golf course

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

Post by goodenyou »

VictoriaF wrote: Sun Sep 13, 2020 3:59 pm
goodenyou wrote: Tue Feb 19, 2019 9:39 am Boglehead-style investing is not sexy.
We are doomed to extinction.

Victoria
You can still be a sexy Boglehead even if your investing style is not sexy.
"Ignorance more frequently begets confidence than does knowledge" | Do you know how to make a rain dance work? Dance until it rains.
Grt2bOutdoors
Posts: 22941
Joined: Thu Apr 05, 2007 8:20 pm
Location: New York

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

Post by Grt2bOutdoors »

More than two and less than 15. Attend a few local chapter meetings and you can expand your circle of bogleheads.
"One should invest based on their need, ability and willingness to take risk - Larry Swedroe" Asking Portfolio Questions
bampf
Posts: 575
Joined: Thu Aug 04, 2016 6:19 pm

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

Post by bampf »

DanMahowny wrote: Mon Feb 18, 2019 5:09 pm Zero (that I know of)

In fact, many people I know are financially illiterate. I know this because they are the ones that constantly provide me with unsolicited financial advice.
This. I actually know one guy that believes in most of what we talk about here in terms of live below your means and frugal and so forth. He has lots of money, is an active trader (and good at it) as well as commercial real estate and so forth. He has 50% of the BH equation. ON the other hand, he makes a ton in the market and is very very good at that part of his financial future.

I know of almost no one else that understands this stuff and or lives it. Its astonishing really since it is fairly simple. However, they are fighting an up hill battle to break into this sort of knowledge. Astonishing really.
User avatar
windaar
Posts: 412
Joined: Thu Mar 08, 2012 7:31 am

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

Post by windaar »

Old thread but fun topic I had not noticed before. Investing does not come up often at work but when it has, it appears that my co-workers universally do their investing based on hunches, tips, feelings, and timing. 100%
Nobody knows nothing.
User avatar
Stef
Posts: 1121
Joined: Thu Oct 10, 2019 10:13 am

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

Post by Stef »

Despite working for one of the biggest banks in the world I don't know any other Boglehead personally. A couple of them buy individual stocks, a couple actively managed funds...but nobods is buying index funds. Nobody is really saving a lot. We are talkikg about people that work in the finance industry lol.

So I guess Bogleheads are a tiny minority of the population.
User avatar
LilyFleur
Posts: 1467
Joined: Fri Mar 02, 2018 10:36 pm

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

Post by LilyFleur »

otinkyad wrote: Sun Sep 13, 2020 9:26 pm Only one. I’ve got an uncomfortably frugal friend that pays an AUM fee. I’ve got another friend that seems to get the ideas: no AUM, low ERs, active funds can’t on average beat the market. His conclusion is that you have to switch between active funds to pick the winners, and he pays a fee-based advisor quarterly to do that. :oops:
I have one friend (despite being quite mathematical) who hired the Edward Jones guy who knocked on her door one day many years ago. She was marveling at how much money they had made (I think in 2017), and I said, well, the market itself earned X% in 2017 (which was higher than she had earned in her EJ account), you could have done that yourself in an S&P stock index fund. She was not convinced. This guy has earned money for her, she said. He does it all for her, she said. I backed off.
XacTactX
Posts: 65
Joined: Sat May 11, 2019 5:46 pm
Location: Southern California

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

Post by XacTactX »

Most of the people I’ve talked to in real life don’t know about indexing or scientific investing. One person I knew was buying pharmaceutical penny stocks with Robin Hood. Another person is interested in day trading and is watching YouTube videos to learn about it. Another person asked if marijuana stocks are a good investment.

The closest I’ve come is when I was a VITA tax preparer. One of the students that I helped was majoring in finance and quantitative analysis so I asked him if he knew about index funds and the Fama French 4-factor model. He said yes and I told him I used that model to help select my investments. He said that’s pretty good, or something along those lines.
doob wrote: Sun Sep 13, 2020 8:31 pm I do not know any in person, but I have been fortunate enough to be able to partially convert 401k participants in two organizations into bogleheads without them knowing it, I think. How?

First, I managed to convince the President of my smallish consulting firm (~50 employees) to let me redesign our 401k plan from scratch. He agreed. So, I turned it into a haven of ultra low cost broad market based funds and target date funds, mostly from Vanguard. For the administration of the plan, I chose one of three well know low cost administrators like EF/Ascensus, etc.

Second, I convinced my wife (who is effectively the CFO at her ~70 employee firm) to redesign their 401k plan. :twisted: It took her the better part of a year to convince her bosses (with slide decks, etc., to demonstrate the effect of costs supplied by me 8-) ) to let her do so. It finally happened in 2018. Then I helped her pick more or less the same set of low cost broad market based funds and target date funds and helped her persuade her bosses to pick up the administrative costs as well.

The employees both at her organization and mine are really not financially savvy, so it gives me a tiny bit of satisfaction to have been able to set them up the boglehead way. I hope they all enjoy a slightly better retirement as a result.
This was a great story, congrats to you and your wife on a job well done, I would be proud if I could do this :sharebeer
SMLF | ISCF | EMGF | LendingClub | Cash
likegarden
Posts: 3022
Joined: Mon Feb 26, 2007 5:33 pm

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

Post by likegarden »

As I worked at a megacorp for 30 years I only saved with their investment program. but after retirement I asked around in my engineers lunch group, and they said : Index funds, Vanguard, Bogle. They were probably Bogleheads. For the last 15 years therefore I have my retirement money in index funds at Vanguard. Other people I know did various other ways : one was much in gold, one sold all into cash in 2008, one bought more index funds at the low in 2008, one got out of an account he had with an expensive advisor.
Grt2bOutdoors
Posts: 22941
Joined: Thu Apr 05, 2007 8:20 pm
Location: New York

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

Post by Grt2bOutdoors »

Stef wrote: Tue Sep 15, 2020 12:12 am Despite working for one of the biggest banks in the world I don't know any other Boglehead personally. A couple of them buy individual stocks, a couple actively managed funds...but nobods is buying index funds. Nobody is really saving a lot. We are talkikg about people that work in the finance industry lol.

So I guess Bogleheads are a tiny minority of the population.
They’d better save, lots of announced and unannounced layoffs coming in near future.
"One should invest based on their need, ability and willingness to take risk - Larry Swedroe" Asking Portfolio Questions
GreenLawn
Posts: 60
Joined: Tue Jul 21, 2020 10:58 am

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

Post by GreenLawn »

I don't know of any personally, though I'd expect FIRE devotees I follow online might follow these principles. Index funds are considered standard operating procedure as it takes smart investing to retire early, and to stay retired.

Most people I know just assume they'll work full time until their 60's so they live it up with their excess money until then and don't fuss too much over their investing. High earners make enough money to spend freely and leave investing to "their guy". They seem happy so I leave them be.
Grt2bOutdoors
Posts: 22941
Joined: Thu Apr 05, 2007 8:20 pm
Location: New York

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

Post by Grt2bOutdoors »

livesoft wrote: Sun Sep 13, 2020 7:34 pm My son uses a Vanguard Institutional Target Retirement Fund in his new 401(k). He followed his dad's suggestion and is contributing 60% of his gross paycheck to that for the rest of 2020. Does he count as a Boglehead?
Sure does!
"One should invest based on their need, ability and willingness to take risk - Larry Swedroe" Asking Portfolio Questions
delamer
Posts: 10442
Joined: Tue Feb 08, 2011 6:13 pm

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

Post by delamer »

bampf wrote: Mon Sep 14, 2020 11:00 pm
DanMahowny wrote: Mon Feb 18, 2019 5:09 pm Zero (that I know of)

In fact, many people I know are financially illiterate. I know this because they are the ones that constantly provide me with unsolicited financial advice.
This. I actually know one guy that believes in most of what we talk about here in terms of live below your means and frugal and so forth. He has lots of money, is an active trader (and good at it) as well as commercial real estate and so forth. He has 50% of the BH equation. ON the other hand, he makes a ton in the market and is very very good at that part of his financial future.

I know of almost no one else that understands this stuff and or lives it. Its astonishing really since it is fairly simple. However, they are fighting an up hill battle to break into this sort of knowledge. Astonishing really.
Here are the Boglehead principles: https://www.bogleheads.org/wiki/Boglehe ... philosophy

Anyone who does any kind of investing needs to save some money in order to be able to invest. See principle #2: Invest Early and Often

And it sounds like your guy also is diversified (#4) amd has some kind of plan (#1).

But if you don’t invest mainly in index funds (#6), invest simply (#9), and keep costs low (#7), I don’t see how you can qualify as a Boglehead.
Post Reply