benphoster

While in Business School at the University of Chicago, all I wanted to do was work in Venture Capital or Private Equity. I co-chaired the Private Equity and Venture Capital club, I networked with all the appropriate professors, and did everything I could to make myself available. Profesisonally, I felt I had a strong background with Business Development and Six Sigma with General Electric, and I figured once I had a MBA in Finance, it wouldn’t be a problem! I did not get a single bite with Private Equity firm.

I went into Management Consulting to hope and build my expertise further in the world of New Product Development. I love consulting, I love my firm…I just can’t stop thinking about how good I would be at PE/VC. Any tips would be greatly appreciated.

I don’t need to be a billionaire, I just want to have the choice to work and if I chose not to do so, I want to be comfortable.

• Send 2 children to college and grad school
• The ability to take one major vacation and 3 minor vacations each year for the rest of my life
• Dine at a nice restaurant with my wife every weekend
• A 4 bedroom house/condo in downtown Chicago
• A modest lake house in Wisconsin
• 2 modest, but nice, vehicles for my wife and I.

Based on my current lifestyle, savings, and estimates, I believe that will require the equivalent of $225,000 per year. I’ve heard from financial planners that to keep your savings at a constant amount accounting for inflation, you should plan on pulling 4% out per year. That is $5.6 million. I’m 28 and want to retire by 2018, which is in 12 years with an inflation rate of 3%, I predict that I will need $8 million

That’s a large number….better start saving now.

I married Suzie, a beautiful girl that I had a crush on for years. I’m not too religious, but I’m pretty sure that if there’s a heaven, it will be a constant repeat of the 30 minutes of our wedding ceremony.