March 20, 2023 — It’s in the Money

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What's Your Future Worth?

Peter Neuwirth and Rita Cheng help us flex our financial muscles in the March 2023 episode of Money Mountaineering!

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Monday Morning Magic from Inkandescent® PR + Publishing Co. — With tax day on the horizon, we shine a light on two of our financially savvy Inkandescent® clients sharing their insights this week at the Money Show’s Virtual Expo. “Whether you’re an investor or trader, choose from 60 live sessions designed to provide in-depth analysis and specific strategies for everything from stocks, bonds, and ETFs to commodities, currencies, options, and more,” the organizers explain.

Don’t miss these Zoom sessions: 

Marguerita Cheng, CFP® Pro, CEO of Blue Ocean Global Wealth, author, Wealth Management Rules

  • When: Tuesday, March 21, 2023, 12:40 pm – 1:10 pm
  • Topic: Creating a Sustainable Retirement Income Plan
  • About the session: Retirees should create an income strategy that produces the income they need today and in the future. In other words, retirees need to balance the need for short-term liquidity and long-term growth opportunities. One of the most significant risks for retirees is the sequence of returns risk. In other words, the sequence of returns withdrawing income from an underperforming portfolio. It is also important to address inflation risk because the longer that retirees depend on their portfolio for income, the greater the likelihood they will experience a market downturn or recession. In this session, we will discuss strategies to optimize sources of retirement income and improve cash flow in retirement.
  • Click here to register!
  • Learn more about Rita: MargueritaCheng.com • Check out her new book, live April 1, Diary of a CFP® Pro

Actuary Peter Neuwirth, FSA, FCA,Whats-Your-Future-Worth-194x300-1.png author, Money Mountaineering and What’s Your Future Worth

  • When: Wednesday, March 22, 2023, 11:20 am – 11:50 am
  • Topic: What’s Your Future Worth? An Actuarial Perspective on Retirement Income Strategy
  • About the session: The idea of a three-legged stool is broken, insists Pete, who says we need a new model. The concept was coined by an actuary working for the Met in 1949 and was received wisdom for retirement planners, actuaries, and others for decades. The three-legged stool is intended to provide employees with a secure retirement through social security provided by the government,  a guaranteed pension provided by employers, and personal savings accumulated by the employee. But now pensions have been replaced by 401k’s, and social security is under financial stress. Pete will describe how the actuarial perspective can help retirees adapt.
  • Click here to register!
  • Learn more about Pete: PeterNeuwirth.com

If you haven’t seen it: Check out Pete’s March 2023 interview with Rita about her path to becoming an award-winning certified financial planner and her new book, Diary of a CFP® Pro. Scroll down to learn more about these two entrepreneurs.

Fun fact of the day: What does “It’s in the Money” mean? According to Investopedia, the phrase “in the money” (ITM) refers to an option that possesses intrinsic value. An option that’s in the money is an option that presents a profit opportunity due to the relationship between the strike price and the prevailing market price of the underlying asset.

  • An in-the-money call option means the option holder can buy the security below its current market price.
  • An in-the-money put option means the option holder can sell the security above its current market price.
  • Due to the expenses (such as commissions) involved with options, an option that is ITM does not necessarily mean a trader will make a profit by exercising it.
  • Options can also be at the money (ATM) and out of the money (OTM).

Until next Monday: May you flex your financial muscles with power and finesse! — Hope Katz Gibbs, founder and president, Inkandescent® Inc. Inkandescent.us

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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. Her certifications include CFP® professional, Chartered Retirement Planning CounselorSM, Retirement Income Certified Professional® and a Certified Divorce Financial Analyst. As a Certified Financial Planner Board of Standards (CFP Board) Ambassador, Marguerita helps educate the public, policymakers, and media about the benefits of competent, ethical financial planning. She serves as a Women’s Initiative (WIN) Advocate and subject matter expert for CFP Board, contributing to the development of examination questions for the CFP® Certification Examination.

Rita volunteers for several organizations, including CFP Board Disciplinary and Ethics Commission (DEC) hearings; she has also served on the Financial Planning Association (FPA) National Board of Directors from 2013-2015 and is a past president of the Financial Planning Association of the National Capital Area (FPA NCA). Her awards include the Ameriprise Financial Presidential Award for Quality of Advice and the prestigious Japanese Monbukagakusho Scholarship. In 2017, she was named the #3 Most Influential Financial Advisor in the Investopedia Top 100, a Woman to Watch by InvestmentNews, and a Top 100 Minority Business Enterprise (MBE®) by the Capital Region Minority Supplier Development Council (CRMSDC).

Click here to learn more about Blue Ocean Global Wealth and email Marguerita today! Listen to Rita’s podcasts on MargueritaChengRadio.com • Watch all of her video interviews: MargueritaCheng.tv

About Peter J. Neuwirth FSA, FCA: Pete 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), seven 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.

Pete 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 frequently speaks 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.

Click here to learn more about actuary and author Peter Neuwirth: PeterNeuwirth.com • Listen to Pete’s podcasts on PeterNeuwirthRadio.com • Watch all of his video interviews: PeterNeuwirth.tv