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    What's Your Future Worth?: Using Present Value to Make Better Decisions
    What's Your Future Worth?: Using Present Value to Make Better Decisions
    What's Your Future Worth?: Using Present Value to Make Better Decisions
    Audiobook4 hours

    What's Your Future Worth?: Using Present Value to Make Better Decisions

    Written by Peter Neuwirth

    Narrated by Don Hagen

    2.5/5

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    About this audiobook

    We weigh every significant decision based on how it will affect our future. But when it comes to figuring that out, we mostly make the process up as we go along. While financial professional Peter Neuwirth can't help you actually predict the future, he can offer a simple, systematic way to make much better guesses about it-and so make better decisions.

    Neuwirth offers an accessible, step-by-step guide to using the powerful concept of Present Value-which allows you 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. Using examples that anyone can relate to, Neuwirth walks you through the process. Your old refrigerator doesn't work as well as it used to-should you buy a new one right away or muddle through for a while? You're offered a great discount on a service you don't need at the moment but eventually will-buy the service now or wait?

    With just a little math and some common sense, you can compare future costs and benefits with present costs and benefits and make “apples to apples” comparisons. This book will be indispensable for anyone who has ever had to figure out whether to stick with an awful job or follow his or her bliss, fix that old car or buy a new one, increase 401(k) contributions or keep the same take-home pay, and a thousand other decisions.
    LanguageEnglish
    PublisherAscent Audio
    Release dateApr 1, 2015
    ISBN9781469061177

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    • 2/5

      At its core "What's your future worth" looks at concept of present value. Present value means calculating the value today of something you will buy at sometime in the future . I wish this book had stuck to that question and explored its applications in various situations. The introduction and the first thirty five pages of the book does that to a minor extent. The rest of the book Neuwirth waxes about his past as an actuary. Where this book might have value to the non math person is in the author's system of making decisions with present value in mind. 1.) Define the decision 2.) Imagine as many as you can the possible futures that might arise from each possible choice and when it could happen. 3.) Evaluate to the extent possible the relative likelihood of each possible future. 4.) Consider how much more value should be placed on things things that will happen in the NEAR future as opposed nothings that may happen in the DISTANT future and 5.)Sum up the values of the consequences of each choice. This is what the author calls the present value.

      Neuwirth's decision making process is the key idea behind this book. He then gives two solid cogently written personal stories where he applies the process. I wish he had written similar stories that had applied the process to other situations. The chapter headings give the reader the hope of a practical application of each step in the decision making process but fail to delivery. What is given instead are anecdotes that fail to add value, clarity, or concrete application to the lay reader. The remainder of the book attempts to look at medical decisions, non profits and and wills. I was unimpressed with these chapters. To the authors credit the book includes a decent set of footnotes and better than average index A better book to read in this vein of rules to make better value choices would be Simple Rules: How to Thrive in a Complex World by Donald Sull.