Ep6: Retirement Income Strategies — Learn how financial planners manage your money with Marguerita Cheng, CFP® Pro

A Note from Actuary and Author Peter Neuwirth, FSA, FCA, host, "Retirement Income Strategies" show — I invite you to tune in for this week's episode of my podcast and video show, Money Mountaineering, where for 30 minutes, financial experts help us answer the question: What's your future worth? In the fall of 2023, we launched Season 2, where we focus on the power of the Sharing Economy.

Meet the month's guest: Michael Edesses

Our topic: Understanding Crypto

About our guest: read more...

A Note from Actuary and Author Peter Neuwirth, FSA, FCA, host, "Retirement Income Strategies" show — I invite you to tune in for this week's episode of my podcast and video show, where for 30 minutes, financial experts help us answer questions about the retirement income strategies that will work best for you.

Meet the month's guest: Mendel Melzer, Chief Investment Officer, CapAcuity

Pete will ask Mendel:

Do you think an individual’s investment strategy should differ during the retirement/decumulation period vs. before retirement when individuals accumulate assets? Much of financial planning is about balancing risk and return. Yet, in retirement, there are some risks that are not specifically investment-related (eg, longevity). Are there specific investment strategies that you would recommend to mitigate those risks? Do you think insuring those risks ever made any sense? To what extent and how should an individual’s investment strategy take account of the variability of his/her future cash flow needs? NQDC participants have more “buckets” to draw from than most employees who might only have their own house, a 401(k), and Social Security to live on. In what ways do those different buckets call for different investment strategies? About our guest: Mendel has over 30 years of experience as an executive and leader in the world of investments and asset management, serving as both President and Chief Investment Officer at several major financial institutions. At CapAcuity, Mendel serves as Chief Investment Officer, where he is responsible for leading the firm’s investment advisory services and chairs the firm’s investment committee. He and his team analyze trends in investments and recommend appropriate asset allocation, funding and hedging optimization for CapAcuity’s clients. As a member of CapAcuity’s executive committee, Mendel collaborates on the strategic direction and policies of the firm to effectively grow the organization and to ensure its financial strength and operating efficiency. read more...

November-December 2023: A Note from Actuary and Author Peter Neuwirth, FSA, FCA, host, "Money Mountaineering: The Sharing Economy" — I invite you to tune in for this week's episode of my podcast and video show, Money Mountaineering, where for 30 minutes, financial experts help us answer the question: What's your future worth? In the fall of 2023, we launched Season 2, where we focus on the power of the Sharing Economy.

Meet the month's guest: Michael Edesess, accomplished mathematician and economist and author of The Big Investment Lie, and The 3 Simple Rules of Investing read more...

July 2023: A Note from Actuary and Author Peter Neuwirth, FSA, FCA — I invite you to tune in for this week's episode of my podcast and video show, Money Mountaineering, where for 30 minutes, financial experts help us answer the question: What's your future worth?

Meet our guest: Russ Proctor, AVP and Managing Director of Pensions at Pacific Life Insurance Company

Today's topic: Shaping the Future of Retirement Income Solutions

Pete and Russ discuss:

How have retirement income sources changed for retirees now compared to 20 years ago? How well are retirees in the US managing their retirement income? What can retirees do to improve happiness today and reduce the risk of running out of money? Are there strategies that participants should consider implementing? Are plan sponsors receptive to these solutions? How can we help plan sponsors take action? Where do the DC lifetime income solutions need to be in 10 years to help most people who need them? Have you seen the start of this movement? About our guest: Russ joined Pacific Life in 2011 and is now Assistant VP, Managing Director Pensions. He is head of the Pension Risk Transfer (PRT) business and manages the sales team for both PRT and Defined Contribution Lifetime Income (DCLI) in the Institutional Division. He is also responsible for consulting companies to reduce and remove financial risk inherent in their pension plans through the Pacific Life suite of PRT solutions. Russ also works with companies with defined contribution plans, such as a 401(k) or 403(b) plan, to provide guaranteed lifetime income options for plan participants through our DCLI solutions. read more...

June 2023: A Note from Actuary and Author Peter Neuwirth, FSA, FCA — I invite you to tune in for this week's episode of my podcast and video show, Money Mountaineering, where for 30 minutes, financial experts help us answer the question: What's your future worth?

Meet our guest: Actuary Ken Steiner

Today's topic: How Much Can I Afford to Spend in Retirement?

Pete and Ken discuss: What are the basic actuarial and financial economics principles and processes to help retired and near-retired households make better financial decisions? read more...

May 2023: A Note from Actuary and Author Peter Neuwirth, FSA, FCA — I invite you to tune in for this week's episode of my podcast and video show, Money Mountaineering, where for 30 minutes, financial experts help us answer the question: What's your future worth?

Meet our guests: Leland Faust and Richard Conn, Jr., co-founders of Agents for Critical-Thinking

Today's topic: How to Become an Agent for Critical Thinking

Pete asks:

What is "critical thinking"? How does it differ from "wishful thinking" and "magical thinking" What about "group thinking"? How can one guard against "groupthink" but at the same time get the benefits of others' perspectives? What do you recommend people do to get better at critical thinking? About Leland Faust: Leland Faust founded CSI Capital Management. He was chief investment officer from 1978 through 2011, managed over $1.5 billion for the company, and was chief investment officer of a highly rated mutual fund. Since 1978 he and his firm have represented over one hundred NFL, NBA, and MLB all-stars, as well as many Grammy and Academy award winners. read more...

April 2023: A Note from Actuary and Author Peter Neuwirth, FSA, FCA — I invite you to tune in for this week's episode of my podcast and video show, Money Mountaineering, where for 30 minutes, financial experts help us answer the question: What's your future worth?

Meet our guest: Bestselling Author Annie Duke

Today's topic: When to hold ‘em and when to fold ‘em

Pete says: QUIT, by Annie Duke, is an extraordinary book by an extraordinarily practical author who thinks like an actuary. This new book provides a great deal of practical advice for almost anyone who struggles with important life choices. This book will help people get better at making all kinds of decisions, including “knowing when to hold ‘em and when to fold ‘em.” read more...

A Note from Actuary and Author Peter Neuwirth, FSA, FCA — I invite you to tune in for this month's episode of my podcast and video show, Money Mountaineering, where for 30 minutes, financial experts help us answer the question: What's your future worth?

Meet our guest: Marguerita Cheng, CFP® Pro

Today's topic: The journey to becoming a financial planner — Diary of a CFP® Pro

Petes asks Marguerita:

Why did you become interested in retirement income planning? Tell us about your new book, Diary of CFP Pro: diaryofacfppro.com This is your second book, the first being Wealth Management Rules: wealthmanagementrules.com These books seem to culminate everything you’ve learned in your career. Tell us how you got into the business of being a CFP. How do you do business differently than other financial planners? You are a big supporter of women and minorities and do a lot to help others succeed in the financial planning businesses. You were recently appointed to be a member of the CFP Board. Tell us about your work for that organization and why you are inspired to help others. You are closing in on 100 episodes of your podcast show, Margaritas with Marguerita, and have interviewed many interesting guests. What is your biggest takeaway from hosting that show? What are your plans for the future? About Marguerita Cheng: ​Rita is the founder and Chief Executive Officer of Blue Ocean Global Wealth. She has also been a spokesperson for the AARP Financial Freedom Campaign and a regular columnist for Investopedia & Kiplinger. Previously, she was a Financial Advisor at Ameriprise Financial and an analyst and editor at Towa Securities in Tokyo, Japan. read more...

A Note from Peter Neuwirth, FSA, FCA — I invite you to tune in for this week's episode of my podcast and video show, Money Mountaineering, where for 30 minutes, financial experts help us answer the question: What's your future worth?

Meet our guest: Steve Vernon, FSA, president of Rest-of-Life Communications

Pete asks:

Exactly what is longevity risk, and how can people prepare themselves for a long retirement? In managing their assets, how can retirees protect themselves against the possibility of diminished capacity due to aging? How can financial advisors and institutions help both retirees and pre-retirees address both of these risks? At what age do you recommend a retiree decide to begin receiving their Social Security benefits? About our Guest: ​"For this next phase of my life, I want to help people make important retirement planning decisions, so they can live long and prosper," says Steve Vernon, F.S.A., president of Rest-of-Life Communications, where he speaks, writes, and conducts research on the most challenging aspects of retirement, including finances, health, and lifestyle. He previously served for nine years as a consulting research scholar at the Stanford Center on Longevity. He retired as a Vice President of Watson Wyatt Worldwide after a 30+ year career helping Fortune 1000 employers design, manage and communicate their retirement programs. read more...

A Note from Actuary and Author Peter Neuwirth, FSA, FCA — I invite you to tune in for this week's episode of my podcast and video show, Money Mountaineering, where for 30 minutes, financial experts help us answer the question: What's your future worth?

Meet our guest: David Scharf, president-elect, Conference of Consulting Actuaries (CCA)

Today's topic: The important role of a practicing actuary

Petes asks David:

What is the Conference of Consulting Actuaries? What role does it play as an organization whose members are consulting actuaries and do many different types of actuarial work, such as insurance, pensions, and health? You also work as a full-time senior actuary for Buck, an HR, pensions, and employee benfits consulting, technology, and administrative services firm founded 100 years ago. Talk about what you do as a practicing actuary. What key initiatives will you prioritize for CCA in your role as president? Why do you believe the actuarial perspective is important right now? About David: ​As a principal and actuary based in Buck’s Secaucus, New Jersey office, David is a leader in innovation, executive benefits, and mergers and acquisitions; Scharf has more than 30 years of experience working with clients and their employee benefits programs. He also serves on the Conference of Consulting Actuaries (CCA) board of directors and is their president-elect. As president-elect, Scharf provides direction on the CCA's strategic plan and serves as chair of their Strategic Planning Committee; he previously held various leadership positions within the organization since joining in 2000. He is a frequent speaker at industry conferences and has published numerous articles. Additionally, he serves on the Network of Actuarial Women and Allies (NAWA) Partnership Committee and participated in a U.S. Government Accountability Office (GAO) research study on nonqualified deferred compensation plans. Scharf graduated with honors from Yeshiva University in New York with a bachelor’s degree in economics and mathematics. Click here to learn more. read more...

A Note from Peter Neuwirth, FSA, FCA — I invite you to tune in for this week's episode of my podcast and video show, Money Mountaineering, where for 30 minutes, financial experts help us answer the question: What's your future worth?

Meet our guest: Mary Jo Lafaye, a licensed Home Equity Retirement Income (HECM) Specialist with Mutual of Omaha Mortgage

Today's Topic: The practicalities of getting a reverse mortgage, the real-life considerations that individuals and couples need to make when deciding to get one, the challenges they may face and the psychological hurdles that many have to overcome to make a good decision as to whether or not to get one. read more...

November 2022: A Note from Actuary Peter Neuwirth — I invite you to tune in for this month's episode of my podcast and video show, Money Mountaineering, where for 30 minutes, we learn from experts how to plan for your best financial future.

Today's Topic: From reverse mortgages to leaving a legacy, learn how to generate lifetime income

Meet today's guest: Barry H. Sacks Ph.D. earned his Ph.D. in semiconductor physics from M.I.T., then taught at U.C. Berkeley. He earned a J.D. from Harvard Law School and is a Certified Specialist in Taxation Law from the California Board of Legal Specialization. After spending 35 years as an ERISA attorney specializing in qualified retirement plans, he used his breadth of skills to discover a role for a reverse mortgage to help make a retirement portfolio last longer. Barry now has a law practice providing exceptional services to tax professionals in the area of “Offers in Compromise” for retirees living on 401(k) accounts or securities portfolios. read more...

October 2022: A Note from Hope Katz Gibbs, producer, Inkandescent Radio — Hello and welcome to our first episode of a new show on the Inkandescent Radio network — Money Mountaineering with actuary Peter Neuwirth, FSA, FCA — entitled What’s Your Future Worth? I’m Hope Katz Gibbs, producer of the podcast network InkandescentRadio.com, and I am thrilled to be here today with Pete!

About Pete: After graduating from Harvard College in 1979 with a degree in Mathematics and Linguistics, Pete went to work at Connecticut General Life Insurance (now CIGNA), and for the next 38 years, he worked continuously as an actuary holding significant leadership positions at a variety of firms around the country, including most of the major consulting firms (Aon, Hewitt Associates, Watson Wyatt, Towers Perrin and finally Towers Watson) as well as spending 5 years as a chief actuary at a regional benefits consulting firm (Godwins), 7 years running a small actuarial firm (Coates Kenney) and one year in a large accounting firm (Price Waterhouse). read more...

A Note from Marguerita Cheng, CFP® Pro — I invite you to tune in for this week's episode of my podcast and video show, Margaritas with Marguerita, where for 15 minutes each Friday at 5 pm EST, women learn from industry experts how to flex their financial muscles live on Facebook.

Meet our guest: Peter Neuwirth, author, Money Mountaineering: Using the Principles of Holistic Financial Wellness to Thrive in a Complex World and What’s Your Future Worth: Using Present Value to Make Better Decisions read more...