The Millionaire Next Door is an Aggie

9,128 Views | 71 Replies | Last: 2 days ago by lil99chris
techno-ag
User Profile
Private Message
Ignore User Stop Ignoring
How long do you want to ignore this user?
24 hours One week Permanently Cancel
8:41p, 4/5/26
AG
https://www.msn.com/en-us/money/investment/more-americans-are-breaking-into-the-upper-middle-class/ar-AA20a2uH

Quote:
Randy Shilling went to public high school in Corpus Christi, Texas. He graduated from Texas A&M University with a petroleum engineering degree.

For the first decade of his career, he lived in an apartment and worried about paying for vacations. Then, in his early 30s, he landed a job at a chemical plant that paid about 15% more plus bonuses, and life felt smoother. Around the same time, he bought a house on a golf course in the Houston suburb of Humble, Texas. Promotions and pay raises followed, and he saved more than $3 million for retirement. Almost without realizing it, Shilling ascended into the upper middle class.

"I view myself as an average Joe. I don't have to have a fancy car. I don't have to have the greatest TV," said Shilling, who is 58. "But when I want something, I go get it."


This is good to see, not just that a "regular Joe" Aggie is touted as getting rich through hard work, but that the Millionaire Next Door concept is alive and well. It's the American dream, and the current administration makes it far more possible than the last one.
The left cannot kill the Spirit of Charlie Kirk.
Reply Quote
48
Thunderstruck xx
User Profile Ignore User Stop Ignoring
How long do you want to ignore this user?
24 hours One week Permanently Cancel
8:46p, 4/5/26
A million dollars ain't what it used to be, especially if a lot of that is in your home equity and retirement accounts you can't touch yet.
Reply Quote
93
SteveA
User Profile Ignore User Stop Ignoring
How long do you want to ignore this user?
24 hours One week Permanently Cancel
In reply to techno-ag • 8:46p, 4/5/26
AG
Not sure how the current admin is related to this guy working and saving for 30 years. But I hope you are right.
Reply Quote
27
techno-ag
User Profile
Private Message
Ignore User Stop Ignoring
How long do you want to ignore this user?
24 hours One week Permanently Cancel
In reply to Thunderstruck xx • 8:49p, 4/5/26
AG
Thunderstruck xx said:
A million dollars ain't what it used to be, especially if a lot of that is in your home equity and retirement accounts you can't touch yet.
This guy mentioned had $3 million in accounts and he's retired if I'm reading it right. He's doing better than most, thus the prominent mention in the Wall St. Journal.
The left cannot kill the Spirit of Charlie Kirk.
Reply Quote
16
techno-ag
User Profile
Private Message
Ignore User Stop Ignoring
How long do you want to ignore this user?
24 hours One week Permanently Cancel
In reply to SteveA • 8:50p, 4/5/26
AG
SteveA said:
Not sure how the current admin is related to this guy working and saving for 30 years. But I hope you are right.
Trump has done a good job rolling back red tape and other barriers.
The left cannot kill the Spirit of Charlie Kirk.
Reply Quote
16
CanyonAg77
User Profile
Private Message
Ignore User Stop Ignoring
How long do you want to ignore this user?
24 hours One week Permanently Cancel
8:54p, 4/5/26
AG
Good for him. Seems like he more or less did the Dave Ramsey plan of saving now so you can retire comfortably.

There's a lot of Aggies who are probably millionaires.

The bad news is that to live like a millionaire did when I graduated in 1977, you need $7.4 million
Reply Quote
45
Buck Turgidson
User Profile Ignore User Stop Ignoring
How long do you want to ignore this user?
24 hours One week Permanently Cancel
In reply to techno-ag • 9:00p, 4/5/26
That should describe almost EVERY A&M graduate by the time they are well into their 50's. There will always be exceptions such as people with crippling medical bills or a public sector employee with a large number of kids, but the overwhelming majority of A&M grads should wind up where this guy is around that age. In fact, there should be (and I expect ARE) many thousands of Ags who wind up much richer than that. If you make an average white collar income and know how to manage your expenses and investments with moderate skill, that's the expected outcome.

Here's my bonus tip to younger people: When you get married but haven't yet had kids, live on one income and bank the other for as long as you can stand it. If you can even do that for 2-3 years, you'll be ahead of the game financially for the rest of your lives.
Reply Quote
62
Jack Squat 83
User Profile
Private Message
Ignore User Stop Ignoring
How long do you want to ignore this user?
24 hours One week Permanently Cancel
In reply to Buck Turgidson • 9:04p, 4/5/26
AG
Buck Turgidson said:
That should describe almost EVERY A&M graduate by the time they are well into their 50's. There will always be exceptions such as people with crippling medical bills or a public sector employee with a large number of kids, but the overwhelming majority of A&M grads should wind up where this guy is around that age. In fact, there should be (and I expect ARE) many thousands of Ags who wind up much richer than that. If you make an average white collar income and know how to manage your expenses and investments with moderate skill, that's the expected outcome.

Here's my bonus tip to younger people: When you get married but haven't yet had kids, live on one income and bank the other for as long as you can stand it. If you can even do that for 2-3 years, you'll be ahead of the game financially for the rest of your lives.

Great points, but before that make sure you and your spouse are on the exact same page financially-speaking.

ETA: maybe that goes without saying
I don't think you know me.
Reply Quote
14
1 edit
one safe place
User Profile Ignore User Stop Ignoring
How long do you want to ignore this user?
24 hours One week Permanently Cancel
In reply to CanyonAg77 • 9:23p, 4/5/26
CanyonAg77 said:
Good for him. Seems like he more or less did the Dave Ramsey plan of saving now so you can retire comfortably.

There's a lot of Aggies who are probably millionaires.

The bad news is that to live like a millionaire did when I graduated in 1977, you need $7.4 million

Aggies and non-Aggies alike. And the number of them would surprise most people. My CPA practice was in my hometown, around 8,000 people and most of my clients were in similarly sized places. Had a few in the big cities, a few out of state, and a few overseas, but the bulk were small town folks. Of my bunch, I probably averaged 260 individuals and 90 that were corporations, S corps, partnerships, estates, trusts, and private foundations. Just off the top of my head, I'd guess of the 260, around 50 to 70 were millionaires. 10 to 15 had annual incomes of over $1,000,000.

Though I am not considering total real estate holdings in all of these, go on a CAD website, search for a property you know, and get on the interactive map where you can go up and down roads and highways and look at who owns what and where. I bring this up because I have been doing this relative to protesting valuations of some family properties. But click on a tract and find an individual that owns 192 acres on a decent highway, or 85 acres here or there, of 680 acres somewhere else. Most of those people are millionaires without needing to know what they have in investments, cash, etc. One after the other after the other. And some are lucky enough to own the minerals!

And while talk of millionaires causes people to say $1,000,000 doesn't go as far as it used to, and of course that is true, it is a lot more than many have. Somewhere I heard it said, or read where someone said that the hardest million to earn was his first million and after that it because easier. Looking at those I know, I think that is more truth than fiction.
Reply Quote
10
pressitup
User Profile Ignore User Stop Ignoring
How long do you want to ignore this user?
24 hours One week Permanently Cancel
In reply to Buck Turgidson • 9:33p, 4/5/26
Buck Turgidson said:
That should describe almost EVERY A&M graduate by the time they are well into their 50's. There will always be exceptions such as people with crippling medical bills or a public sector employee with a large number of kids, but the overwhelming majority of A&M grads should wind up where this guy is around that age. In fact, there should be (and I expect ARE) many thousands of Ags who wind up much richer than that. If you make an average white collar income and know how to manage your expenses and investments with moderate skill, that's the expected outcome.

Here's my bonus tip to younger people: When you get married but haven't yet had kids, live on one income and bank the other for as long as you can stand it. If you can even do that for 2-3 years, you'll be ahead of the game financially for the rest of your lives.

A couple of divorces are the great equalizer
I squeaked in tho.
.........and if you wanna hear God laugh, tell him your plans.
Reply Quote
13
Queso1
User Profile Ignore User Stop Ignoring
How long do you want to ignore this user?
24 hours One week Permanently Cancel
In reply to pressitup • 9:36p, 4/5/26
AG
Here's to marrying your lifetime love.
Reply Quote
9
valvemonkey91
User Profile
Private Message
Ignore User Stop Ignoring
How long do you want to ignore this user?
24 hours One week Permanently Cancel
9:52p, 4/5/26
AG
This is my story. Aggie, 58yrs old and will be retiring at the end of 2026. Been married to one woman for over 30 years. We own four vehicles, all of them over 15 years old and we still drive them. Put two boys through A&M, one petroleum engineer, and one finance major. Never been to Europe, but took the kids to Disney when they were young a couple of times, two or three cruises before carnival went Third World and lots of Frio river getaways. We lived well with our means and I saved 20% of every paycheck that I ever made.


It is doable, if you live within your means and don't use credit cards. I have hammered this home to my kids. I am headed to Europe summer 2027 before it becomes a caliphate .
Reply Quote
31
pressitup
User Profile Ignore User Stop Ignoring
How long do you want to ignore this user?
24 hours One week Permanently Cancel
In reply to Queso1 • 9:54p, 4/5/26
Queso1 said:
Here's to marrying your lifetime love.

3rd time's a charm

married 32yrs on tuesday.
.........and if you wanna hear God laugh, tell him your plans.
Reply Quote
14
superaggie73
User Profile
Private Message
Ignore User Stop Ignoring
How long do you want to ignore this user?
24 hours One week Permanently Cancel
In reply to Jack Squat 83 • 10:11p, 4/5/26
AG
Jack Squat 83 said:
Buck Turgidson said:
That should describe almost EVERY A&M graduate by the time they are well into their 50's. There will always be exceptions such as people with crippling medical bills or a public sector employee with a large number of kids, but the overwhelming majority of A&M grads should wind up where this guy is around that age. In fact, there should be (and I expect ARE) many thousands of Ags who wind up much richer than that. If you make an average white collar income and know how to manage your expenses and investments with moderate skill, that's the expected outcome.

Here's my bonus tip to younger people: When you get married but haven't yet had kids, live on one income and bank the other for as long as you can stand it. If you can even do that for 2-3 years, you'll be ahead of the game financially for the rest of your lives.

Great points, but before that make sure you and your spouse are on the exact same page financially-speaking.

ETA: maybe that goes without saying


I agree. First wife and I were not on the same page…that's why she's the first wife. Second wife and I are on the same page and are set for early retirement.
Reply Quote
7
T dizl televizl
User Profile
Private Message
Ignore User Stop Ignoring
How long do you want to ignore this user?
24 hours One week Permanently Cancel
In reply to pressitup • 10:17p, 4/5/26
AG
pressitup said:
Buck Turgidson said:
That should describe almost EVERY A&M graduate by the time they are well into their 50's. There will always be exceptions such as people with crippling medical bills or a public sector employee with a large number of kids, but the overwhelming majority of A&M grads should wind up where this guy is around that age. In fact, there should be (and I expect ARE) many thousands of Ags who wind up much richer than that. If you make an average white collar income and know how to manage your expenses and investments with moderate skill, that's the expected outcome.

Here's my bonus tip to younger people: When you get married but haven't yet had kids, live on one income and bank the other for as long as you can stand it. If you can even do that for 2-3 years, you'll be ahead of the game financially for the rest of your lives.

A couple of divorces are the great equalizer
I squeaked in tho.


A single divorce can **** you up quick. Here's to being on the other side.
Reply Quote
8
Ryan the Temp
User Profile Ignore User Stop Ignoring
How long do you want to ignore this user?
24 hours One week Permanently Cancel
In reply to Jack Squat 83 • 10:28p, 4/5/26
AG
Quote:
Great points, but before that make sure you and your spouse are on the exact same page financially-speaking.

I'm the money manager in our household and I have free rein to do whatever I need to do to manage our money, including retirement investments.

I wish I knew when I was younger what I know now because I feel really behind where I should be right now, even though we are much better off than most. I'd say we still live pretty well, but I manage our finances such that we are still socking away about $70K per year into investments, retirement accounts, and some cash savings. To be honest, I grew up poor and never imagined when I was younger that it would be possible to have assets in the millions of dollars. Looking back at how long it took me to get my act together on retirement savings, the one thing I'm really glad I did was buy my first home when I was 29, even though it made things really tight for a while. Now we own multiple homes and I definitely won't complain about that because it gives us better retirement options, but the idea of retirement still terrifies me, especially since I will technically be retired in two years when I start collecting my pension.
Reply Quote
9
HollywoodBQ
User Profile Ignore User Stop Ignoring
How long do you want to ignore this user?
24 hours One week Permanently Cancel
11:27p, 4/5/26
AG
The past two years have been tough health wise for several of my friends and family.

Saving money is great but, don't forget to look after your health too.
Reply Quote
8
EFR
User Profile Ignore User Stop Ignoring
How long do you want to ignore this user?
24 hours One week Permanently Cancel
12:24a, 4/6/26
That article has some pretty dubious numbers. 31% of America is upper middle class? Well when you use their definition of a family making $130-400k I guess maybe so, the only problem is depending on where you live those numbers are decidedly not upper middle class.
Reply Quote
5
aggie93
User Profile
Private Message
Ignore User Stop Ignoring
How long do you want to ignore this user?
24 hours One week Permanently Cancel
12:40a, 4/6/26
AG
Hard to overstate the value of finding the right spouse early and staying married. Solves a LOT of problems and is something younger generations struggle with. Lots of women are career driven or chasing after a guy that doesn't exist thinking they have all the time in the world. Lots of guys aren't focused or make bad choices in relationships as well. It's a tough cycle.

Wife and I got married at 23 after dating through college and after. Waited 8 years to have kids and have been married 31 years now. When you find the right partner early your focus is on building a life. We had 2 incomes for those years in our 20's and spent our money on building a life with making investment choices and buying a house. We did travel some in our later 20's and things were starting to get rolling and then at 30 started focusing on kids. Hard to overstate the value of working together towards a goal and how things become more attainable. Then we put a lot of focus into our kids and my wife took a big step back in her career while they were young. Had some blips that hit us hard, some were economic and one was a kid with a health issue. Our early good decisions though gave us the buffer to push through and we never prioritized material stuff. We did value travel and experiences but I was fanatical about finding every way to make those dollars stretch. Kept away from debt outside of 1 car and the house.

Had a few things gone my way we would be a lot better off but I can't complain. I also have zero regrets about taking vacations with the kids and making work sacrifices to prioritize them. Both of my boys are doing great and they bring my wife and I so much joy to see them thrive. I'll probably keep working into my 60s because of some of those choices and some bad luck here and there but that's fine, just want to make sure when I stop working I can feel like I have enough to be comfortable or try my best to get there.
"The most terrifying words in the English language are: I'm from the government and I'm here to help."

Ronald Reagan
Reply Quote
12
Over_ed
User Profile Ignore User Stop Ignoring
How long do you want to ignore this user?
24 hours One week Permanently Cancel
In reply to Buck Turgidson • 2:40a, 4/6/26
AG
Buck Turgidson said:
That should describe almost EVERY A&M graduate by the time they are well into their 50's. There will always be exceptions such as people with crippling medical bills or a public sector employee with a large number of kids, but the overwhelming majority of A&M grads should wind up where this guy is around that age. In fact, there should be (and I expect ARE) many thousands of Ags who wind up much richer than that. If you make an average white collar income and know how to manage your expenses and investments with moderate skill, that's the expected outcome.

Here's my bonus tip to younger people: When you get married but haven't yet had kids, live on one income and bank the other for as long as you can stand it. If you can even do that for 2-3 years, you'll be ahead of the game financially for the rest of your lives.

We did this. I have been told on this forum that we were too cheap, and should have spent more. We are very comfortable now, because them time value of investments have more time to increase, the sooner you start.

And like Aggie93, I have been particularly blessed in marriage.
Reply Quote
4
1 edit
Jason C.
User Profile Ignore User Stop Ignoring
How long do you want to ignore this user?
24 hours One week Permanently Cancel
5:22a, 4/6/26
AG
A variant of the "live on one paycheck" idea (a great one): When my wife started staying home with kids, we lived on one of my two monthly paychecks. (Obviously that means living on half your income if one check is smaller because of monthly deductions, etc., but you get the idea.) Do that for as long as you can.

You don't need to live in the good school district until your oldest kid turns 5-6, so use those five years to live in a crappy area and sock away dough. Buy that crappy house and you have a rental for the future. If you're a few years behind and kids are too old, homeschool for a couple of years.

You can do it.
Reply Quote
2
ts5641
User Profile Ignore User Stop Ignoring
How long do you want to ignore this user?
24 hours One week Permanently Cancel
In reply to techno-ag • 5:49a, 4/6/26
Putting your nose to the grindstone and putting in the years is the surest way to financial success for most. Or you can just open a somali daycare.
Reply Quote
12
CDUB98
User Profile
Private Message
Ignore User Stop Ignoring
How long do you want to ignore this user?
24 hours One week Permanently Cancel
7:04a, 4/6/26
AG
With healthcare costs the way they are, we don't feel safe no matter how much money we have saved.
Reply Quote
9
Hoyt Ag
User Profile Ignore User Stop Ignoring
How long do you want to ignore this user?
24 hours One week Permanently Cancel
In reply to CDUB98 • 7:29a, 4/6/26
AG
No kidding. That is truly the great unknown in financial planning. We plan to slow travel and do a lot of our routine stuff abroad, as it is cheaper and same level of care.
Reply Quote
1
Rubicante
User Profile Ignore User Stop Ignoring
How long do you want to ignore this user?
24 hours One week Permanently Cancel
9:19a, 4/6/26
AG
Not to worry. With the imminent collapse of the dollar we will all be multi-millionaires soon!
Reply Quote
6
techno-ag
User Profile
Private Message
Ignore User Stop Ignoring
How long do you want to ignore this user?
24 hours One week Permanently Cancel
In reply to Rubicante • 9:44a, 4/6/26
AG
Rubicante said:
Not to worry. With the imminent collapse of the dollar we will all be multi-millionaires soon!

In all seriousness, Mike Rowe has said that about 50 of the people he interviewed on Dirty Jobs are multimillionaires.
The left cannot kill the Spirit of Charlie Kirk.
Reply Quote
2
CDUB98
User Profile
Private Message
Ignore User Stop Ignoring
How long do you want to ignore this user?
24 hours One week Permanently Cancel
9:49a, 4/6/26
AG
There are a lot of millionaires out there that one would never even suspect are that.
Reply Quote
4
YouBet
User Profile
Private Message
Ignore User Stop Ignoring
How long do you want to ignore this user?
24 hours One week Permanently Cancel
In reply to EFR • 10:13a, 4/6/26
AG
EFR said:
That article has some pretty dubious numbers. 31% of America is upper middle class? Well when you use their definition of a family making $130-400k I guess maybe so, the only problem is depending on where you live those numbers are decidedly not upper middle class.


I would agree. Meanwhile, we have multiple other sources that are pretty consistent on retirement nest eggs and those stats are horrific. We may have a large number of people in the upper middle class from a salary perspective but a most of them aren't saving anything.
Reply Quote
3
YouBet
User Profile
Private Message
Ignore User Stop Ignoring
How long do you want to ignore this user?
24 hours One week Permanently Cancel
In reply to Rubicante • 10:13a, 4/6/26
AG
Rubicante said:
Not to worry. With the imminent collapse of the dollar we will all be multi-millionaires soon!


Money is not going to matter, period. - Elon Musk
Reply Quote
Sid Farkas
User Profile Ignore User Stop Ignoring
How long do you want to ignore this user?
24 hours One week Permanently Cancel
10:27a, 4/6/26
AG
I grew up in an upper-middle class lifestyle...my aTm degree and years of perseverance helped me climb back into it on my own by the time I reached retirement. life's good.
Reply Quote
halfastros81
User Profile
Private Message
Ignore User Stop Ignoring
How long do you want to ignore this user?
24 hours One week Permanently Cancel
10:28a, 4/6/26
AG
Steady above average paying job, staying married to one person, living well within your means … makes perfect sense to me.

Living in apartment for 10 yrs … yuck… and also not the optimal way to build wealth/real estate equity .

Petroleum Engineer going to work in a chem plant seems a bit off not that there's anything wrong with it … just … unusual career path.

Reply Quote
1
1 edit
Old McDonald
User Profile Ignore User Stop Ignoring
How long do you want to ignore this user?
24 hours One week Permanently Cancel
10:31a, 4/6/26
an income of $400k and/or net worth of $3 million is not "middle class," that's close to 95th percentile in the US
Reply Quote
1
EFR
User Profile Ignore User Stop Ignoring
How long do you want to ignore this user?
24 hours One week Permanently Cancel
In reply to YouBet • 10:32a, 4/6/26
I agree with you. Myself and the other "olds" at work do our best to beat the idea of retirement savings into the new guys at work. Sadly we only have moderate success yet the parking lot is full of trucks that approach the value of my first house.
Reply Quote
3
MouthBQ98
User Profile
Private Message
Ignore User Stop Ignoring
How long do you want to ignore this user?
24 hours One week Permanently Cancel
10:42a, 4/6/26
AG
People simply mostly think linearly and don't understand exponential growth, or they understand it but don't think in terms of it and the implications of it. Time is on your side if you start saving early, but it is absolutely not if you delay for most of your eorking career. I've never been a big earner. I simply don't spend much either, which allows me to save at least some. It's pretty easy over 30 years to collect a sum approaching a million dollars just saving into an IRA or something similar and keeping it slowly growing in a diversified investment account.


Reply Quote
4
halfastros81
User Profile
Private Message
Ignore User Stop Ignoring
How long do you want to ignore this user?
24 hours One week Permanently Cancel
In reply to Old McDonald • 10:53a, 4/6/26
AG
You missed the part about a range of $130-400k?
Reply Quote
1
Last Page
Page 1 of 3 ▼
 
×
subscribe Verify your student status
See Subscription Benefits
Trial only available to users who have never subscribed or participated in a previous trial.