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
Today’s topic: Money Mountaineering — The 6 foundational principles of Holistic Financial Wellness, including practical things people can do to achieve and maintain financial wellness.
Rita asks Peter:
- Money Mountaineering lays out 6 principles to achieve and maintain financial wellness. Can you tell us what they are and why they are important?
- Your principle #3 says that individuals should get financial advice from experts who are “100% on your side”. Is that possible these days, and how do you do it?
- Your book was named as one of the 12 best business books of 2021for advisors. Which of the other 5 principles you describe would you say are the most important for Financial Planners to keep in mind as they develop financial strategies for their clients?
- I understand you have a new webinar in development around how to plan for retirement in today’s complex and uncertain world. can you tell me a little bit about it?
- You talk about 3 tools to put in your backpack. How do those 3 relate to the “3 legged stool” that many of us used to use in talking to our clients about retirement income strategies?
About Peter: Peter Neuwirth has been an actuary for more than 40 years and after decades of having been asked too many times, “What is an actuary exactly?” he has decided to go beyond answering that question to answer another: “How does an actuary think and why does it matter?”
Peter’s work is well known in actuarial circles. He is a frequent speaker at professional conferences and has been quoted in both the mainstream and industry press on actuarial matters. He is a Fellow of the Society of Actuaries and a Fellow of the Conference of Consulting Actuaries.
Peter has consulted with dozens of the largest corporations in the world around the Retirement Plans they sponsor and pay for. This experience has provided him with a deep practical understanding of three of the fundamental concepts (time, risk, money) that shape our world. Many of those insights are shared in Peter’s books and essays.
Peter’s first book, “What’s Your Future Worth” provides an accessible, step-by-step guide to using the powerful concept of Present Value—which allows readers to determine the value today of something that might happen in the future—to evaluate all of the outcomes that might arise from choosing one path as opposed to another.
In this “Money Mountaineering,” Peter explores the world of money and provides his views on its nature and the challenges we all face as we try to survive, even thrive, in this complex, uncertain, noisy, and sometimes irrational wilderness. This is a book designed to help readers understand what kind of advice they truly need—to gain a better understanding of the financial world they must live in and what they must do to make their way through it.
With a reputation among his peers as being a creative, knowledgeable, and experienced actuary with a penchant for both problem solving and thinking “outside of the box” Peter is also a storyteller who believes that story of the actuarial perspective is one that needs to be told.
Pete lives in Santa Rosa, California. You can visit his website and read his essays at peterneuwirth.com.
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