1) Rather than thiking about saving for a rainy day, the reality is that my career entails the high risk at all times of a rainy day coming... tomorrow. This means that I see a real need to build big reserves (not just 6 months) and to have contingency plans if things go very wrong. For instance, if the current financial crisis spreads and we both lose our jobs, our plan would look like the following: (1) liquidate long-term savings, (2) sell house in NYC, (3) move to lower cost area of country with savings, (4) purchase paid for residence, (5) retrain for new, stable career.Please, please tell me that you are not laboring under the delusion that your wife will agree to any of this, should it actually come to pass that you lose your job and it is no longer a hypothetical situation?!Frankly from what I've read, here's a more likely scenario:1) You lose your Wall St job, but she refuses to sell the house and move.2) You will run through your savings first, keeping her in the style to which she has become accustomed.3) You will then max out your credit cards one after the other, keeping her in the style to which she has become accustomed.4) All the while she will be badgering you to get another Wall St job. 5) When you hit the wall with no savings and no more credit, should you still not have a new high-earning job, she will leave you for someone who managed to keep his high income. After all, she's told you she can do better than you!Granted my scenario is hypothetical and may not come true. I wonder how many people on this board (who are very savvy about money and relationships in general, I think) would be willing lay odds on my scenario rather than yours, though.
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