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Topic: 3 Tools to Put in your Backpack to go Money Mountaineering

About this speech: Learn how to replace the “3-legged stool,” which people used to rely on for retirement income security.

Description: The idea of a three-legged stool was coined by an actuary working for the Met in 1949 and has received wisdom from retirement planners, actuaries, and others for decades. ​And that three-legged stool, which theoretically was to provide the basis for a secure retirement, included social security provided by the government, a guaranteed pension. “This was a pension, not a 401k, but a guaranteed defined benefit pension as most employers had in the ’60s,” explains Pete.

Click here to view the presentation: More Money Mountaineering — 3 Tools to Put in your Backpack, c2022

Actuary and Author Peter J. Neuwirth FSA, FCA

Biography: Actuary and Author Peter J. Neuwirth FSA, FCA

Peter J. Neuwirth FSA, FCA, is an actuary specializing in retirement plan issues. He is a 1979 graduate of Harvard College with a BA in Mathematics and Linguistics. After leaving Harvard, he 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).

Additionally, he has spent five 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). At the end of 2016, he retired from Towers Watson to focus on writing and researching financial wellness issues.

Peter continues researching various financial wellness issues, including using home equity to generate retirement income. In 2018 he taught a graduate seminar on this subject for the actuarial science department at the University of California at Santa Barbara. He is currently associated with the Academy for Home Equity in Financial Planning at the University of Illinois.

In addition to his books “Money Mountaineering” and “What’s Your Future Worth?”, his research has been published in professional journals, including the Journal of Deferred Compensation, Contingencies, and Journal of Financial Planning. His articles have also been published in numerous online actuarial web publications. He is a frequent speaker at professional conferences such as the Conference of Consulting Actuaries, Enrolled Actuaries, and Western Pension and Benefits Conference. He is a Fellow of the Society of Actuaries and the Conference of Consulting Actuaries.

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