What could be the purpose of being an actuary?

Question

I am a qualified actuary, working in the profession since 10 years. Recently became a manager with the green dot big4. I am wondering for a couple of years now, but it hit me really hard this year : what actually could benthe purpose of being an actuary? How do you feel about that?

I mean, working through exams, degrees, tough problems daily, but for what end? It earns me decent money, I have people to help in career, but I don't feel motivated anymore to do this job and think about why certain things affect the liability in a way it does..

Really curious about your points.

Answer 1

This right here is a midlife crisis lol

Answer 2

To afford hobbies.

Answer 3

>It earns me decent money

.

Answer 4

Money. If it didn't earn me decent money, I wouldn't be an actuary.

Answer 5

We are the bridge between the capital and the insurance demand. Capital holders need way to invest knowing the risk and reward tradeoff, and we provide the service that ultimately encourages them to invest in the industry, or decide how much capital to invest, or create more services that satisfy demand while ultimately create enough profit. Such services ultimately serves as the pooling of risk and enabling risk taking.

Let's say, insurance companies are (mostly) not an idiot, they pay for us because in aggregate we generate enough value.

Answer 6

I see a lot of people on this subreddit define their life by their job. Don't do that. Your job is just a means to an end. If you have decent pay, decent work load, and decent co-workers then you are good to go and find your life's purpose. The fact you can worry about your life's purpose instead of worrying about survival means it's a good job and you have all the resources needed to go do something about it.

Answer 7

To pass ~~butter~~ exams.

Answer 8

Actuaries are critical for the function of any insuring firm.  Insurance is a very important part of the financial world.  Without insurance, that world would crumble.  As seen in the Great Depression and Great Recession, when the financial world crumbles, the rest of the economy crumbles.

Answer 9

To earn and save enough so that you can settle all the other long tail liabilities in your life, enjoy financial freedom and retire earlier than others

Answer 10

Insurance is a social good, and it requires trust in order to work properly. Actuaries are an important part of making insurance trustworthy for policyholders so that the social good of insurance can exist.