Retirement savings (ACTB40, ACT230, ACT239, ACT240)
Improved retirement savings rate calculator - use at your own risk
USEFUL
T Star June 21, 2007 save 33% of pay for retirement
Retirement calculator from AARP
One of the best available online. Can input zero starting assets, zero pensions
etc.
Globe and Mail Nov 1, 2007 on retirement needs
Example of frequently-seen bad advice on savings
New York Times Dec 2007: annually spend 4 percent of savings
WSJ Feb 16, 2008: spend 4 percent of savings
WSJ Jan 2, 2008 on how much to save by age 45
Necessary retirement savings rate calculator for these ACT courses in Excel
PDF version
Buffett on investment return assumptions and a couple of jokes
More details
WSJ Mar 11, 2008 Interest rate assumption: negative real yield?
Data
New York Times Mar 30, 2008 Bernstein on 5% real for stocks in future
T Star Apr 2, 2008 on Ontario Teachers' Pension Plan p1.
p2.
$40,000 per year indexed worth $850,000
Yahoo June 10, 2008 on retirement life expectancy
T Star Oct 22, 2008 on seniors needing to work
T Star Oct 28, 2008 on 4 percent drawdown rate
Brad De Long Oct 2008 on zero 10 year real return on stocks (even without taxes
and fees)
T Star Mar 16, 2009 Malcolm Hamilton: 30% of pay for federal retirement
Forbes Mar 25, 2009 :last paragraph on possible negative after-tax real yield on
TIPS
Zvi Bodie on PBS June 12, 2009: risky to assume stocks will beat
inflation-indexed bonds
WSJ June29, 2009 Ruth Madoff living off 3% real return
| Course |
Meeting Section |
Time | Location | Instructor & TA | |||
| ACT230H1 | F 2008 | Math of Finance | L5101 | T7-9 (Last lecture Dec 2 at 7) | UTSG | K. Sharp | |
| T6 (p) (Last tute Nov 25) | UTSG |
Sara Wattling-Sacharen
Lizhen Xu
|
|||||
| ACT230H1F | Sum2009 | Math of Finance | L5101 | MW7-9 |
UTSG- WI 1016 |
K. Sharp | |
| MW6 (p) | TA TBA | ||||||
| ACT239H5 | W 2009 | Math of Investment and Credit | LEC6001 | MO6-9 (first lect Jan 5, 2009) |
UTM SE3093 |
K. Sharp | |
| TUT6001 | TU 5-6 (first tute Jan 13, 2009) |
UTM NE228 |
Wenwen Gao | ||||
| ACT240H1F | Sum2009 | Fund Invest & Credit | L5101 | TR7-9 |
UTSG- SS 2135 |
K. Sharp | |
| TR6 (p) TAs |
Yiru (Helen) Chen Jason Ricci |
||||||
| ACT244H5 | F 2008 | Fundamental Principles of Actuarial Science | LEC6001 | MO 6-9 (Last lecture Dec 1) |
UTM CC2134 |
K. Sharp | |
| F 2008 | TUT6001 | TU 5-6 (Last tute Dec 2) |
UTM NE144 |
Wenwen Gao | |||
| ACT245H1S | W 2009 | Financial Principles I - Derivatives | L0101 | T1-3 (First lect Jan 6, 2009) | UTSG-MP103 | K. Sharp | |
| R2 (First tute Jan 15, 2009) | UTSG-MP103 |
On outline |
|||||
| ACT245H1S | Sum2009 | Financial Principles I | L5101 | MW6-9: Full info on portal |
UTSG- SS 1070 |
K. Sharp | |
| TA TBA | |||||||
| ACT247H1S | Sum2009 | Intro Life Conting I | L5101 | TR7-9: Full info on portal |
UTSG- SS 2117 |
K. Sharp | |
| TR6 (p) | TA TBA | ||||||
| ACT349H1 | F 2008 | Corporate Finance | L0101 | W 5-7 (Last lecture Dec 3) | UTSG | K Sharp | |
| W 4-5 (Last tute Dec 3) | UTSG | Heng Wang | |||||
| ACTB40H3 | F 2008 | Fund Invest, Credit | LEC01 | TR 10-11 (Last lect Nov 25) |
UTSC
BV355 |
K. Sharp | |
| TUT0001 | W 9-10 (Last tute Nov 26) |
UTSC
BV260 |
Nicholas Li | ||||
| ACTB47H3 | W 2009 |
LEC01 |
W 9-11 (First lect Jan 7, 2009) |
UTSC BV361 |
K. Sharp | ||
| LEC01 | F 10-11 (First lect Jan 9, 2009) |
UTSC BV363 |
K. Sharp |
http://www.beanactuary.org/ has some info about the US job market, which
appears to be more promising for entry level actuarial students than the crowded
Canadian job market. For a Canadian citizen with a math or act sci degree and a
letter offering US employment, a TN (Trade NAFTA) US employment visa is likely
to be obtainable but check it out first:
http://travel.state.gov/visa/temp/types/types_1274.html Most employers like
to see some office work experience on your resume. Many recent graduates want to
live in Toronto, Vancouver, Montreal, Boston, New York, San Francisco, Los
Angeles etc. but you might have a better chance of getting a suitable job in a
less popular city.
Another
way to get your resume noticed in the pile could be to attend
Toastmasters (public
speaking - preparation for client contact) and give enough five-minute speeches
to get a "Competent Toastmaster' certificate; UTSG and UTSC have
student-oriented clubs.
The membership listing at
www.soa.org is very useful in a job search. Maybe look for excuses to send
an email to a potential employer. Don't send a lot of spam and
don't be upset if you don't get a reply. Everyone is busy and everyone quickly
deletes non-essential email. But for example, maybe you'll notice at
www.soa.org a person working in investments in X-land and you are a fluent
X-ese language speaker and have taken some investment-related courses. Then try
sending an email
with a email 'subject' field such as 'X-ese speaker with investment skills',
attaching your resume. For greater visibility, you could snail-mail a hard copy
resume.
www.actuarialoutpost.com has job ads and, on the popular discussion board, a
lot of comments and information, much of it correct. See in particular the forum
named 'Careers-Employment'.
Here is placement rate info on an ad for a 'how to stay competitive' Act Sci
Club seminar in October 2007.
Admin Links for UTM
| Session dates | http://www.utm.utoronto.ca/regcal/WEBGEN3.html |
| Course timetable | http://www.utm.utoronto.ca/~utmor/student/timetable/timetable.pl |
Admin Links for UTSC
| Course timetable | http://www.utsc.utoronto.ca/~timetable/ |
| Final exam timetable (if available) | http://www.utsc.utoronto.ca/~timetable/exam_timetable/ |
Admin Links for UTSG
| From Prof Broverman | U of T Downtown Act Sci programme |
| Act Sci Club SS6007 | http://fisher.utstat.toronto.edu/actsci/main.htm |
| Arts and Science Calendar | Dates of Sessions |
| Courses and Prerequisites | |
| Arts and Science Course Timetable | Fall/Winter Session |
| Summer |
Society of Actuaries Exam Dates
Much more info at
Society of Actuaries
There are multiple testing windows for exams by computer-based testing (CBT) each year. In a limited number of localities outside the United States where CBT is not available, the exam will be offered by paper and pencil during specified sittings (see details below).
Exam P/1, Probability
| May 2009 Administration |
July 2009 Administration |
September 2009 Administration |
November 2009 Administration |
||
| Registration Deadline | April 2, 2009 | May 28, 2009 | August 6, 2009 | October 8, 2009 | |
| CBT Dates | May 12-21, 2009 | July 7-16, 2009 | Sept. 15-24, 2009 | Nov. 18-30, 2009 | |
| Paper and Pencil exam at select sites | May 12, 2009 | None | Sept. 15, 2009 | None |
Exam FM/2, Financial Mathematics
| May 2009 Administration |
August 2009 Administration |
December 2009 Administration |
||
| Registration Deadline | March 25, 2009 | July 6, 2009 | October 22, 2009 | |
| CBT Dates | May 5-11, 2009 | Aug. 13-19, 2009 | Dec. 1-8, 2009 | |
| Paper and Pencil exam at select sites | May 5, 2009 | August 13, 2009 | December 1, 2009 |
Please note that these professional exams are run worldwide out of the Chicago
offices of the
Society of Actuaries,
not by University of Toronto, though instructors sometimes act as proctors.
Professional Links
Canadian Institute of Actuaries
CFA Institute
Comments on CFA for actuarial students
Talk to ASNA on CFA January 5, 2008
