| In the Vanguard: Meeting John Bogle | |
 Twelve years ago I distinctly remember listening to a Motley Fool interview with Vanguard founder John Bogle. It was a Saturday and I was in my classroom preparing for the week ahead. At that time I was just beginning to learn about the significant contributions Mr. Bogle, his common sense approach to investing, and his firm Vanguard had made (and were making) for millions of investors. The more I learned, the more impressed I became. It was not long after this interview that John Moore and I launched 403(b)wise. Our mission then — as it is now — was: education and advocacy. Without a doubt, Mr. Bogle's DNA is engrained in 403(b)wise. Shortly after the publication of each of my two books (The 403(b) Wise Guide, co-authored with Scott Dauenhauer, CFP; and Teach and Retire Rich,) I sent Mr. Bogle a copy thanking him for his enormous influence on my work. Each time I received a handwritten note of thanks. Amazing.In 1999, Fortune magazine named Mr. Bogle one of the four "Investing Giants" of the twentieth century. In 2004, Time magazine named Mr. Bogle one of the 100 most powerful and influential people. On December 6, 2010, I had the high honor of meeting Mr. Bogle at Vanguard's headquarters in Valley Forge, Pennsylvania. I was at the facility at the invitation of Jonathan Herbst, Individual 403(b)(7) Program Manager at Vanguard. Shortly before my trip I learned that I would have the opportunity to meet Mr. Bogle. I figured it would be a quick "hey, nice to meet you" and on my way I would go. Instead, Mr. Bogle asked if I would like to sit down for a visit. For the next 10 minutes, Jonathan, Nathan Hanko of Vanguard, and myself discussed my 403(b) education and advocacy efforts, and my latest initiative, Pollinate, the Teacher Financial Literacy Project. This latter project elicited the following comment from Mr. Bogle: "You have taken on quite a task." He also remarked that it was one worth pursuing. Before leaving I was lucky enough to receive an autographed copy of his new book Don't Count On It! Reflections on Investment Illusions, Capitalism, "Mutual" Funds, Indexing, Entrepreneurship, Idealism, and Heroes. Mr. Bogle's inscription: "Press on, regardless!" Indeed I will. As part of my visit I also got to meet with Gerard O'Reilly of Vanguard's Quantitative Equity Group. Mr. O'Reilly is a Principal and the Portfolio Manager for several stock index funds including the Total Stock Market Index Fund (my first Vanguard fund!). I also had the opportunity to meet with John Heywood, Principal, and Alex Roe, Senior Product Manager. I can say that without a doubt, Vanguard is exactly who they appear to be, which for investors is a very good thing. | |
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