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Ameriprise Financial: Reaching Your Summit

November 4, 2013

Pete Athans: Learning from an expedition leaders’ adventures on Everest

Pete Athans, nicknamed “Mr. Everest,” didn’t reach the summit of the world’s highest peak on his first climb, or his second, or even his third.Pete Athans Facebook Image He was turned back by violent weather, equipment failure and plain bad luck. It wasn’t until his fifth attempt in 1990, that he reached the top. “I learned how not to climb Everest on four expeditions,” he says. Read about Pete’s journey in the Ameriprise Financial digital magazine.

Pete has learned valuable lessons on his journey towards the summit. As you’ll read in the article, you can find out what climbing a mountain – and returning home again – can teach you about preparing financially for you future.

4 Financial Tips from the Top of Mount Everest

1. Way up, way down: The rules are different

Most climbers concentrate solely on the ascent to the top, but the peak is merely the half-way point. What if the climber uses too much oxygen on the way up and does not have enough for the descent? Athans says, “Ultimately you have to pace yourself and have the patience, discipline and self-knowledge to know that you have enough juice to get back down”.

2. Manage risks at high altitude

Obstacles on Mount Everest strike often and erratically. Climbers cannot set a schedule and expect to abide by it- a contingency plan is necessary. Teams must be capable of dealing with uncertainty.

3. Depend on the experts

When climbing, especially in extreme conditions, one’s performance can diminish without noticing, but the team can see it. The Sherpas that climb with Athan’s team are the safety net when the team’s performance weakens- they rope off the course and set up the ladders to cross the deep crevasses. You have to have specialists for when times get tough.

4. Have a checklist: Your life depends on it

Successfully climbing Mount Everest is dependent on the initial preparation of worst case scenarios. This means preparing for the physical distress, acclimation and altitude. Know what you are going up against and plan out steps to achieve your goal.

Watch this video to see what mountain climbing and retirement have in common:

 

Call 1.800.882.3026

Talk with an Ameriprise financial advisor today to find out if your current financial plans will help you get to your own personal Everest. We offer a personal, holistic approach, asking questions to better understand your financial situation, and then tailoring solutions to help you meet your specific goals.

Free consultation

Because you’re a Golden Key Member, you can get an assessment of your current financial situation and where you stand. Find out about the other unique opportunities you have as a member: http://www.ameriprise.com/goldenkey

The complimentary initial consultation provides an overview of financial planning concepts, and does not include a written analysis and/or recommendations.
Brokerage, investment and financial advisory services are made available through Ameriprise Financial Services, Inc. Member FINRA and SIPC

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