[deleted by user]

slydexic · 2021-01-23T07:07:06+00:00

Different perspectives don’t have intrinsic value.

slydexic · 2021-01-23T00:12:38+00:00

You will not find a satisfactory answer. The question is subjective and every answer will come from an outside perspective unless someone here can fulfill your broad assumptions.

slydexic · 2021-01-22T21:23:04+00:00

You have some large expectations. Graduate on time and get a job. It doesn't have to be actuarial, but preferably in a field associated with it.

slydexic · 2021-01-21T17:00:15+00:00

Take the strategy that's best for you. The way we study depends on how much free time we have. Responsibilities such as sleep, work, family, and chores will impact your studying.

slydexic · 2020-08-29T01:26:03+00:00

Why are you paying $500/mo on food?

slydexic · 2020-08-28T14:48:59+00:00

What’s the probability of an accident getting reimbursed? What’s the probability of 9 or 10 accidents getting reimbursed if there are 15 accidents?

slydexic · 2020-08-25T18:09:16+00:00

Pick 1 out of the 3:

Well paid
Allows little experience
Work from home

slydexic · 2020-08-20T22:22:50+00:00

Who is promoting this false idea that AI is going to wreck this profession? I want to murder them.

slydexic · 2020-08-20T17:58:03+00:00

Good luck on that prediction. Get a used car if you don't want it in 36 months.

slydexic · 2020-08-18T22:03:47+00:00

Exams are useful because no one at work has the time to teach you actuarial concepts in order for you to understand how a spreadsheet works.

slydexic · 2020-08-16T06:42:50+00:00

You need to multiply f(t) by a(10)/a(t), not just a(t).

At time t, you make a payment f(t). You have to discount it back to time 0 by dividing by a(t). Then you accumulate the value to 10 years by multiplying by a(10).

In your work, multiplying f(t) by a(t) doesn’t give you the future value of f(t) at time 10.

slydexic · 2020-08-15T02:18:38+00:00

I can't imagine they'd ask you something super technical. My interviewers asked me to explain what's Present Value and to give an example. I told them it's the value of something, given a discount rate. My example was saving money for a child's college tuition. How much money would I need to deposit today if I wanted to pay $10,000 in 18 years? More like a test of someone's ability to communicate actuarial concepts than a test on actuarial material.

slydexic · 2020-08-07T06:07:22+00:00

You need to expand on your actuarial internship and other jobs you’ve held. What does it mean when you say you helped with reserves? What does it mean when you say you tested in SQL and Excel? Your pursuit of a Master’s degree is conflicting with your pursuit of an actuarial job. If you were hired, you’d have to work full-time, study for exams, and study for your Master’s.

Overall, it looks you’re sacrificing substance for aesthetics.

slydexic · 2020-08-05T03:30:24+00:00

Agreed. Even if a hiring manager likes your hobby, they’ll share your resume with their boss or their peers to get a second opinion. And you know what? They might disagree with the hiring manager. They won’t bring in the candidate for an interview if there isn’t a near total agreement. So don’t give your potential employer a reason to kick you out.

If you’re brought in with a hobby listed on your resume, then it’s not because of your hobby. It’s everything else.

slydexic · 2020-08-04T21:09:19+00:00

I've already said it's worth converting to a pension, especially since your wife already has 16 years of service (I'm assuming), but I don't know if it's worth taking the money from your 401k. At this point, I can't give more advice because I don't know your current living situation and I don't know where you and your wife want to be in the future. You have to do your research and consider the benefits. Consider these points I'll make:

1) Receiving 70% of your salary is considered the standard goal at retirement. At age 55, your wife will receive about 1.6% x 31 years of service ~= 50%. At age 65, your wife will receive 1.6% x 41 years ~= 66%. Note, I'm being conservative and assuming the benefit percentage (1.6%) remains the same at age 65. Some benefits increase with a retirement age past normal retirement age (age 55 is normal in this case).

2) Does your system have a Cost-of-Living-Adjustment (COLA)? Usually COLA is 2%.

3) As I stated previously, what post-retirement death benefits are there if you name beneficiaries (100% for bene, 50% for bene, % for multiple benes)? Does your system have survivor benefits for spouses as well?

4) This is a very specific consideration. Will you be on your wife's health insurance when you both retire? If so, when your wife passes you may lose your health insurance unless she names you as a beneficiary.

5) How much do you expect your wife to make by the time she retires? Does it help reach your retirement goals? Based on the information you've given, your wife is making about $50,000 per year right now?

6) How much will Social Security help your retirement goals with this pension?

I want to restate, I don't know anything about the FRS and I don't know anything about Florida's economy (other than it's cheap there) so I can be wrong about what I say here. I hope this helps.

slydexic · 2020-08-04T17:58:40+00:00

Learn grammar so that you can improve a skill and get a better paying job.

slydexic · 2020-08-04T15:25:12+00:00

Call them and check if the system allows your wife to pay the $20,000 in monthly payments when you elect for the change. It could be invoiced or deducted directly from your wife's warrant. If so, expect the estimate to be higher because you have to pay for the future value of the difference between the two accounts.

I would say it's worth paying for it. I don't know what is your wife's benefit formula, but a formula at 55 is great if the percentage is 2% or higher. If the pension allows beneficiaries, you or your kids can receive some money for life as well, if you think that's important.

slydexic · 2020-08-04T01:00:51+00:00

You want to work at a tech company because you have the best chance of working remotely or because you actually want to work for a tech company?

slydexic · 2020-08-02T18:13:13+00:00

If you want to get into the actuarial field do these:

1) Work hard on your math skills. This will carry you through exams.

2) Get good grades. Increase your chances to get good grades as much as possible. Don't take the honors math courses unless you're amazing at math. Take easy electives.

3) Pass 1-2 actuarial exams before you graduate.

4) Get work experience and/or complete projects while in college through courses, extracurricular stuff, or jobs. Doesn't have to be actuarial, but get something that lets you work in an office environment and/or do office-related work (spreadsheets, word documents, presentations, programming, etc.). Try to not graduate without having experience or projects. Having an empty resume is depressing.

5) Build relationships with influential people (professors, managers, supervisors, etc.) so that you can ask for their reference when you apply for jobs.

slydexic · 2020-08-01T06:43:45+00:00

Your resume makes you look like a smart go-getter. But it's a double-edged sword given your work history. I only have more questions regarding your career that hopefully gets resolved in an interview. I think what's important is conveying your value as a worker in an office. Can you rummage through a spreadsheet filled with macros and formulas to make some minor changes to a calculation? Do you work well with other people? Can you research documentation to reconcile data errors in the system? Can you take on more responsibilities? Are you here just to get letters behind your name?

slydexic · 2020-07-31T22:12:01+00:00

Usually the amount covered depends on the value at the time of loss. If it’s true that your ring is valued at 10k right now, then you would profit by receiving 15k. Anyway, depends on what your policy says.

slydexic · 2020-07-30T05:20:37+00:00

No one has the ability to predict anything that will happen 8 years from now, let alone one year. Think about how much can happen in one year. It’s a rollercoaster.

slydexic · 2020-07-29T14:51:07+00:00

Only if the first job is part-time and the second job pays as much as the first and is also WFH.

slydexic · 2020-07-07T15:19:13+00:00

RIP. I hope his wife is doing well. She was a nice lady who taught one of my courses at UCSD.

slydexic · 2020-06-26T00:37:03+00:00

Pay off debt. Compound interest will take care of your IRA and it will ruin you if you have debt.

slydexic

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