The Wall Street Boys

Dave and I had our second meeting with the financial advisers from Northwestern Mutual Financial last night. Dave refers to Michael and Scott, the advisers, as the "Wall Street Boys." They are very polished in their pressed suits. Having lived in the burbs for 6 years, going into Boston and arriving at the posh One Beacon Street makes you feel "small" and "innocent". I get a daily quote and it's a coincident that I would get this quote on the same day as our meeting.

"Most people want security in this world, not liberty." H.L. Mencken

I would like to think that I would chose liberty over security but now that I have liberty I'm not so sure I would chose it over security. Dave and I are very content in our lives and are starting to think about our future. After meeting with the advisers last night we have a lot to think for the future, life insurance and what we will need when we retire. They did an analysis for us. By the time we retire (around 60 years of age), to live the same life style we have now, we'll need to have saved over $4 million dollars (taking into consideration a 3% inflation per year). It's astonishing considering that Dave and I live a fairly simple life.

It was good to hear what the advisers had to say. It's not all bad news...the advisers tell you what you need and based on your current asset what you will have by the time you retire. When we decide to have children I can't even imagine what they will need when they retire.


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