Me: Oh, no I'm almost late. I need to go change so I can run over to the church.
(Eve grabs my hand and drags me into the walk-in closet)
Me: Are you locking me in the dungeon? (a common game at our house, the walk-in closet becomes a dungeon when the door is closed)
Eve: No, I'm just putting you in the closest and shutting the door.
Me: Why are you shutting me in here?
Eve: Dad! NOBODY wants to see you NAKED!
Tuesday, December 15, 2009
Sunday, August 9, 2009
Oh, you took an actuarial exam, I heard those were hard.
So, I'll try not to toot my own horn too much right now, but I just want everyone to understand what I've just been through.
I recently passed my last actuarial exam, and became a Fellow of the Casualty Actuarial Society. So, I got some nifty letters after my name. (FCAS to be precise) But there is one little frustration that followed me through the exam process.
No one understands how hard these exams are! Well, I guess there are a few people. Those that have taken them, and perhaps their spouses have some idea. But I've told people a bunch of different ways how hard they are, but they just don't get it.
Here are some of the ways I've described how hard they exams are.
1) I study 400+ hours per exam over a 4 month period. (that's @ 30 hrs per week, but I also have a full-time job) That, in reality means early morning studying, studying during lunch hours, and late night studying 6 days a week for 4 months.
2) On one particular exam I decided to make a cheat sheet of formulas to memorize for the test. So I started to write down the formulas. It took me 8 hours to write the formula summary. It filled 12 pages.
If the exam was only mathematical procedures this wouldn't be so bad, but this represented only the mathy part of the exam or about half of the exam. Anyone who has used these sorts of formulas would tell you you'd need to do a dozen or so different problems using these formulas before the formula would mean anything to you. So I work every problem I can find at least 3 times over the 4 months. (usually a thousand or more problems)
3) After one exam I decided to get an idea of how much material I'd been through. So I stacked all the books (Ghostbuster's style). The stack was 3 feet tall. It had 3 text books, two 1,000+ page study manuals, and a bunch of practice exams. I usually work problems and take notes in 200 page notebooks and on notecards. For the most recent exams I'd fill about 4 notebooks (both sides of each page) and a shoebox full of notecards. Remember that the mathy stuff is usually about 1/2 the test, so the other 1/2 is on my notecards. I'd summarize the pile of books onto the shoebox of note cards, and review the cards as many times as it took to have it all in my head. (usually re-writing the notes 5ish times and getting through the pile at least 3 times) This was the hardest part for me, because sometimes the material was pretty dry. (Ever tried to memorize all the exclusions to coverages on your home owners policy? Or all the reasons why earthquakes are uninsurable? Or all the ways a chain ladder reserving method could be distorted? Or all the legal cases that have shaped the modern insurance world? Or, or, or... 1,000 pages of OR?)
One of my friends found this way of describing how hard the exams are:
"How to explain actuarial exams to someone else...
Tell them you’re taking a graduate-level course and:
1. There is no teacher
2. You never have class
3. Your classmates are some of the top analytical minds in the world
4. There is only one exam
5. 60% of the class will fail
6. The class is only offered once or twice a year
7. Repeat that very same process 10 times
8. Oh, and you’re competing against the top 40% from the previous class"
Here's a bit about me and the exams:
There are 8 or 9 exams to become an actuary, depending on the track you follow. I followed a track that took 9 exams. I took my first exam in the fall of 2002. So I took exams for 6 and 1/2 years. I failed each of the first 4 exams once before I passed them. On the last 5 exams I passed on my first attempt. I can't tell you how hard it was for me to fail an exam. School was always easy for me. I got one "B" in high school. I got one "B" in college. Showing up was usually enough to excel. Not so with these exams. They really pushed me.
My kids have never known a dad that didn't study all the time. My oldest was a baby when I started, and we now have 2 and 2/3 more kids. During this time I gave up a lot. Every spring break. Many nights Katie would put the kids to bed. There are a lot of things. I leaned very heavily on Katie during this time. She would do all the dishes, laundry, mow the lawn, care for the kids, etc. Honestly I could not have done it without Katie and many blessings from my Heavenly Father. Thank you Father, and thank you Katie!
So, why did I do it? Initially it was because the career reportedly pays well. But now that I've been doing it for 5+ years I feel blessed to discover I really love the work. Discovering new ways to analyze things, trying to understand what is really happening and meeting and debating all of this stuff with upper management. It is very invigorating and interesting. I couldn't have chosen a better profession for me.
Now that the exams are over I'm not sure what to do next. I love the freedom of being done. I'm spending more time with my wife and kids we are taking some much needed vacations. But I still want to make some big goals to keep myself moving in a good direction.
What should my next big goal be?
Learn to be a concert pianist? Learn to speak Chinese?
I recently passed my last actuarial exam, and became a Fellow of the Casualty Actuarial Society. So, I got some nifty letters after my name. (FCAS to be precise) But there is one little frustration that followed me through the exam process.
No one understands how hard these exams are! Well, I guess there are a few people. Those that have taken them, and perhaps their spouses have some idea. But I've told people a bunch of different ways how hard they are, but they just don't get it.
Here are some of the ways I've described how hard they exams are.
1) I study 400+ hours per exam over a 4 month period. (that's @ 30 hrs per week, but I also have a full-time job) That, in reality means early morning studying, studying during lunch hours, and late night studying 6 days a week for 4 months.
2) On one particular exam I decided to make a cheat sheet of formulas to memorize for the test. So I started to write down the formulas. It took me 8 hours to write the formula summary. It filled 12 pages.
If the exam was only mathematical procedures this wouldn't be so bad, but this represented only the mathy part of the exam or about half of the exam. Anyone who has used these sorts of formulas would tell you you'd need to do a dozen or so different problems using these formulas before the formula would mean anything to you. So I work every problem I can find at least 3 times over the 4 months. (usually a thousand or more problems)
3) After one exam I decided to get an idea of how much material I'd been through. So I stacked all the books (Ghostbuster's style). The stack was 3 feet tall. It had 3 text books, two 1,000+ page study manuals, and a bunch of practice exams. I usually work problems and take notes in 200 page notebooks and on notecards. For the most recent exams I'd fill about 4 notebooks (both sides of each page) and a shoebox full of notecards. Remember that the mathy stuff is usually about 1/2 the test, so the other 1/2 is on my notecards. I'd summarize the pile of books onto the shoebox of note cards, and review the cards as many times as it took to have it all in my head. (usually re-writing the notes 5ish times and getting through the pile at least 3 times) This was the hardest part for me, because sometimes the material was pretty dry. (Ever tried to memorize all the exclusions to coverages on your home owners policy? Or all the reasons why earthquakes are uninsurable? Or all the ways a chain ladder reserving method could be distorted? Or all the legal cases that have shaped the modern insurance world? Or, or, or... 1,000 pages of OR?)
One of my friends found this way of describing how hard the exams are:
"How to explain actuarial exams to someone else...
Tell them you’re taking a graduate-level course and:
1. There is no teacher
2. You never have class
3. Your classmates are some of the top analytical minds in the world
4. There is only one exam
5. 60% of the class will fail
6. The class is only offered once or twice a year
7. Repeat that very same process 10 times
8. Oh, and you’re competing against the top 40% from the previous class"
Here's a bit about me and the exams:
There are 8 or 9 exams to become an actuary, depending on the track you follow. I followed a track that took 9 exams. I took my first exam in the fall of 2002. So I took exams for 6 and 1/2 years. I failed each of the first 4 exams once before I passed them. On the last 5 exams I passed on my first attempt. I can't tell you how hard it was for me to fail an exam. School was always easy for me. I got one "B" in high school. I got one "B" in college. Showing up was usually enough to excel. Not so with these exams. They really pushed me.
My kids have never known a dad that didn't study all the time. My oldest was a baby when I started, and we now have 2 and 2/3 more kids. During this time I gave up a lot. Every spring break. Many nights Katie would put the kids to bed. There are a lot of things. I leaned very heavily on Katie during this time. She would do all the dishes, laundry, mow the lawn, care for the kids, etc. Honestly I could not have done it without Katie and many blessings from my Heavenly Father. Thank you Father, and thank you Katie!
So, why did I do it? Initially it was because the career reportedly pays well. But now that I've been doing it for 5+ years I feel blessed to discover I really love the work. Discovering new ways to analyze things, trying to understand what is really happening and meeting and debating all of this stuff with upper management. It is very invigorating and interesting. I couldn't have chosen a better profession for me.
Now that the exams are over I'm not sure what to do next. I love the freedom of being done. I'm spending more time with my wife and kids we are taking some much needed vacations. But I still want to make some big goals to keep myself moving in a good direction.
What should my next big goal be?
Learn to be a concert pianist? Learn to speak Chinese?
Man, what a rip-off!
So I wanted some Nacho Cheese Doritos, and we happened to have one of those variety packs of snack size bags of chips.
So I pulled one out. And my mouth started to water in anticipation.
Imagine my surprise when I opened the bag to see this:
That's right, ONE CHIP! Not two, not three even! Just ONE!!! Oh, and about 3 tablespoons of cheese powder and crumbs. I know companies are trying to cut costs right now, but come on!
P.S. I wasn't really mad, it was actually quite funny. Maybe I should give Doritos Quality Control a call. Or maybe a bunch of people already called complaining that they didn't get enough cheese in their bags of chips, and this is the result?
So I pulled one out. And my mouth started to water in anticipation.
 |
| From 2009_05_25 |
Imagine my surprise when I opened the bag to see this:
 |
| From 2009_05_25 |
That's right, ONE CHIP! Not two, not three even! Just ONE!!! Oh, and about 3 tablespoons of cheese powder and crumbs. I know companies are trying to cut costs right now, but come on!
P.S. I wasn't really mad, it was actually quite funny. Maybe I should give Doritos Quality Control a call. Or maybe a bunch of people already called complaining that they didn't get enough cheese in their bags of chips, and this is the result?
Saturday, August 8, 2009
Keep the Change you Filthy Animal!
Here's my quote of the day. We we're all getting ready to go to the zoo.
Me: "I'm going to run and take a shower real fast, before we go."
Lily: "Why dad? You'll just blend in with the stinky animals!?"
So much love, I can almost smell it.
Me: "I'm going to run and take a shower real fast, before we go."
Lily: "Why dad? You'll just blend in with the stinky animals!?"
So much love, I can almost smell it.
Tuesday, June 30, 2009
Conversation with Eve
Katie and I want to take a dream vacation to Brazil, but we disagree on whether the kids should come or not. Katie wants them to come, I think they won't appreciate it.
Anyway, Eve walks into the room, and here's the conversation.
Katie: Eve, do you want to go on a big trip to Brazil?
Eve: No. I just want to go to the car wash.
Katie: (Laughing) Well, I guess that settles it.
What do y'all think? Should the kids come on the Brazil trip?
Anyway, Eve walks into the room, and here's the conversation.
Katie: Eve, do you want to go on a big trip to Brazil?
Eve: No. I just want to go to the car wash.
Katie: (Laughing) Well, I guess that settles it.
What do y'all think? Should the kids come on the Brazil trip?
Money Advice
Here's some money advice I recently read on Mint.com. They started with simple advice they'd expect someone to hear from their dad (it was a Father's Day thing), then they said whether they agreed or not.
1) "Money Management is easy, just spend less than you make." Then Mint said that was a start, but you should also make money work for you with compound interest, and have an emergency fund.
2) "Buy low, sell high." Then Mint said not to try to time the market because it won't work.
3) "Don't carry a balance on your credit cards." And Mint said they agree, and added to check your credit score regularly.
What do y'all think?
Here's what I say:
1) I agree with everything on this one, but I would add that it is not enough to "spend less than you make." What you really need to do is spend as much as you plan on spending. In other words, trade "living within your means" for "living within your budget". Actually saving as much as you plan, and having all expenditures not exceed what you planned to spend. No one can know all they may need $ for next paycheck, but you should allocate some money to "general" or "free" categories that can make up the difference. The only way I've found that works for us to do this is to take out our variable payments in cash and not spend anymore when the cash runs out.
2) I also think timing the market is too risky, but I'd say buying something when the price is low is still a good idea, especially if you want to own that item anyway.
3) I'm not a big fan of credit cards. The companies themselves want to make money, and they will make much more the moment you are late on a payment or make a partial payment. I'd say use C-cards sparingly, even if you get rewards, because when you have a rough time financially, they will not be charitable.
That's what I think. Do you agree?
Any more sound advice you'd like to share?
1) "Money Management is easy, just spend less than you make." Then Mint said that was a start, but you should also make money work for you with compound interest, and have an emergency fund.
2) "Buy low, sell high." Then Mint said not to try to time the market because it won't work.
3) "Don't carry a balance on your credit cards." And Mint said they agree, and added to check your credit score regularly.
What do y'all think?
Here's what I say:
1) I agree with everything on this one, but I would add that it is not enough to "spend less than you make." What you really need to do is spend as much as you plan on spending. In other words, trade "living within your means" for "living within your budget". Actually saving as much as you plan, and having all expenditures not exceed what you planned to spend. No one can know all they may need $ for next paycheck, but you should allocate some money to "general" or "free" categories that can make up the difference. The only way I've found that works for us to do this is to take out our variable payments in cash and not spend anymore when the cash runs out.
2) I also think timing the market is too risky, but I'd say buying something when the price is low is still a good idea, especially if you want to own that item anyway.
3) I'm not a big fan of credit cards. The companies themselves want to make money, and they will make much more the moment you are late on a payment or make a partial payment. I'd say use C-cards sparingly, even if you get rewards, because when you have a rough time financially, they will not be charitable.
That's what I think. Do you agree?
Any more sound advice you'd like to share?
Wednesday, June 24, 2009
Father's Day Gift
My sweet wife took this picture for me for Father's Day. Then she printed it so I can put it in my office at work. I am loved!
Here are some of the other pictures from their photo session:
 |
| From 2009_06_16 |
Here are some of the other pictures from their photo session:
 |
| From 2009_06_16 |
 |
| From 2009_06_16 |
 |
| From 2009_06_16 |
 |
| From 2009_06_16 |
 |
| From 2009_06_16 |
 |
| From 2009_06_16 |
An exchange with Abigail
Me: Did you just toot!?
Abigail: No. (she smirks and puts her hands in front of her mouth) I burped in my panties.
Abigail: No. (she smirks and puts her hands in front of her mouth) I burped in my panties.
Insightful Quote
Strength and struggle go together. The supreme reward of struggle is strength. Life is a battle and the greatest joy is to overcome. The pursuit of easy things makes men weak. Do not equip yourselves with superior power and hope to escape the responsibility and work. It cannot be done. It is following the lines of least resistance that makes rivers and men crooked.
- Ralph Parlette
I read this as I was finishing preparing for my last actuarial exam. I was about out of steam and this was just the thing to keep me going.
So, what do you think? Can you become strong without struggle? Do you also like this quote?
- Ralph Parlette
I read this as I was finishing preparing for my last actuarial exam. I was about out of steam and this was just the thing to keep me going.
So, what do you think? Can you become strong without struggle? Do you also like this quote?
Sunday, June 21, 2009
And we have LIFT-OFF!
So this is my first trip into the blog-o-sphere, and it is pretty scary. For those of you who are frequent fliers, please be gentle and forgiving, because there may be turbulence.
This blog has 3 main purposes:
1 - share some adventures (or mis-adventures)
2 - share some thoughts (or ask advice from all you highly-intelligent people)
3 - seek some lift (I'll explain)
Let's boil my life down to 3 main parts. Doing, Thinking and Being. These coincide with this blog's 3 main purposes.
The first part will talk about what me and mine are doing. All the actions, reactions, and occurences. Well, not ALL, but hopefully a couple of the more entertaining ones.
The second part will be posts of stuff I'm thinking, planning, or being stumped by. Maybe there will be an actuarial exam question or dilemma thrown in, just for fun.
The third part is about what I want to become, who I want to be, or my ideals. Things that lift me up and give life meaning and value. Hopefully, y'all will be better for reading it too.
Anyway, now you know the plan. Let's see how I do at sticking to it. :)
This blog has 3 main purposes:
1 - share some adventures (or mis-adventures)
2 - share some thoughts (or ask advice from all you highly-intelligent people)
3 - seek some lift (I'll explain)
Let's boil my life down to 3 main parts. Doing, Thinking and Being. These coincide with this blog's 3 main purposes.
The first part will talk about what me and mine are doing. All the actions, reactions, and occurences. Well, not ALL, but hopefully a couple of the more entertaining ones.
The second part will be posts of stuff I'm thinking, planning, or being stumped by. Maybe there will be an actuarial exam question or dilemma thrown in, just for fun.
The third part is about what I want to become, who I want to be, or my ideals. Things that lift me up and give life meaning and value. Hopefully, y'all will be better for reading it too.
Anyway, now you know the plan. Let's see how I do at sticking to it. :)
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