Egan, Berger & Weiner LLC, Certified Financial Planners™
Egan, Berger & Weiner, LLC is an independent financial services firm based in Northern Virginia whose associates offer decades of experience in many areas of financial planning.
The firm’s team of Certified Financial Planners™ specialize in financial planning and coaching, and help clients realize their dreams by skillfully navigating them through the myriad of life’s financial decisions.
About the Partners:
Founding partner Sheldon L. Weiner, LUTCF, has more than three decades of experience in the financial industry. He attended the University of Maryland and the Hartford Insurance Company School of Advanced Underwriting, and earned the LUTCF (Life Underwriters Training Council Fellowship). He also served as President of Creative Financial Programs, Inc., and has more than 10 years of experience as a teacher and lecturer for various educational institutions in the Metropolitan Washington area. Weiner is an active member of the Financial Planning Association (FPA).
Founding partner Michael P. Egan, CFP®, has more than 21 years of experience in the financial services industry—as a mutual fund analyst, accountant and financial planner. A graduate of the George Washington University with degree in finance, he
hosted a weekly radio show on financial planning in the Washington market. Egan is has long been a presenter on retirement planning with Fairfax County Public School’s Adult and Community Education, and is an active member of the Financial Planning Association (FPA).
Partner Bryan D. Beatty, CFP® has 20 years of experience in the financial industry as the principal of an independent financial services firm specializing in all aspects of investment and retirement planning. He is a graduate of the University of Maryland with a BS in finance; and was the former president of the Finance, Banking and Investment Society. Beatty is an active member of the Financial Planning Association’s Career Development and College Outreach Committees.
For additional information about Egan, Berger & Weiner, LLC, visit www.ebwllc.com.
By Sheldon Weiner
Financial Advisor/Partner
Egan, Berger & Weiner, LLC
If you are concerned that during your retirement years your money will run out, you are not alone.
Surveys suggest that more than 67 percent of Americans are worried about not having enough money for retirement, according to seniorsite.com, and of those, 61 percent fear outliving their money more than they fear death.1
Here’s why:
1. Pensions and Social Security checks used to be the main funding for retirement. Now, people have to rely more on their personal assets to fund retirement to ensure that their income lasts as long as they do. With an average life expectancy of 78 ½ years, we now live more than a decade longer than we did in 1950, yet retirement age has increased just two years—to age 67.2
2. The US Census Bureau reports that more than 50 percent of Americans anticipate working through retirement due to financial and healthcare needs. In 2008 roughly 33 million Americans were between the ages 55 and 64, and that number is expected to reach 43 million by 2020.
3. Asked about expected sources of income in retirement, 94 percent of Baby Boomers say they expect Social Security to be a major part of their income. They also thought pension plans (46%) and 401K-type plans (43%) would also pay a major part in their retirement income.6 However, 30 percent indicated they expect some of their retirement income to come from part-time work. Respondents expected only 9 percent to come from inheritances, and 11 percent from other sources.3
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Aug. 1, 2012, financialplanning.com — “Experts disagree about whether the economy is in an inflationary cycle, but advisors can offer clients ways to brace for it,” writes reporter Joseph Lisanti in today’s issue of Financial-Planning.com.
Financial planner Bryan Beatty of Egan, Berger & Weiner, LLC in Vienna VA, says commodities are widely seen as an economic canary in a coal mine.
“The very first place inflation always shows up is in commodities,” says Beatty. “But they aren’t a panacea for inflation, he adds. When prices rise so high that they choke the economy, commodity bull markets can end abruptly. They can easily collapse if that inflation causes a recession.
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By Michael Egan, CFP®
Certified Financial Planner™
Partner, Egan, Berger & Weiner
Since Social Security is a complicated system, it requires a significant amount of planning before you file for benefits. I have spent years studying how it works so that I can best help my clients plan and prepare a proper strategy.
Click inside for some key points to remember when you are planning your own Social Security strategy. Keep in mind that you should always integrate your Social Security strategy into your overall financial plan. Do not assume that the Social Security office will have all the answers to your questions;, be sure to educate yourself.
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Review by Bryan Beatty
Partner, Egan, Berger & Weiner, LLC
Columnist, Be Inkandescent Magazine
They say 50 is the new 40, and odds are good that if you are now in this second half of life, you feel as vital, energetic, and passionate as ever. As a result, Baby Boomers reaching their 50s and 60s are redefining what it means to retire.
That’s why I thoroughly enjoyed psychologist David Borchard’s book, “The Joy of Retirement: Finding Happiness, Freedom, and the Life You’ve Always Wanted.”
For the last three decades, Borchard has helped adults rejuvenate their careers and lives, and find fulfillment and meaning as older adults. And although the financial side of retirement and aging is different from the physiological side, it is clearly equally as important.
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By Bryan Beatty, CFP®
Certified Financial Planner™
Partner, Egan, Berger & Weiner LLC
When you run your own business, you are a master juggler—someone who as business guru Michael Gerber says succeeds most quickly when he or she works on their business, not in their business.
Too often, however, business owners get so overwhelmed with growing their organization that they neglect personal financial-planning issues.
Why would you want to move the goal of saving for retirement up higher on your priority list?
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By Bryan Beatty, CFP®
Certified Financial Planner™
Partner, Egan, Berger & Weiner LLC
5 Tips for Retirement Success
1. Understand the risks of longevity and aging.
Part of any retirement plan should be to live a healthy and enjoyable life. However, living a long life presents a challenge you may not be fully aware of—longevity risk.
The fear of outliving ones assets is one of the highest fears expressed by today’s Baby Boomers. Today the average 64-year-old couple retiring has about than 20 percent chance of one of them living to be older than 95, according to the Single Life Expectancies Based on Annuity 2000 Mortality Table.
If we are going to live that long, we need to plan for our own long-term care, sometimes referred to eldercare. This is in addition to maintaining a nest egg for as long as 30 years while providing adequate income that increases with inflation.
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May 25, 2011, Northern Virginia magazine — In her article, Dodd-Frank—Congress takes a closer look at how money men work with you, reporter Amanda Millward writes:
After the demise of the financial sector—stock market crash, Enron and Worldcom scandals, housing market collapse, Madoff Ponzi Scheme, ETC.—it’s no wonder that the public is skeptical about entrusting their money to industry representatives. Many don’t understand the different roles financial professionals can play, or the amount of education they should have. It’s important for consumers to know as much as possible about their financial planners and how they work. And while the average person does a bit of homework, congress is working to ensure anyone who dubs him/herself as a financial pro is putting the consumers’ best interests first.
They were watched, but were they watched close enough? She asked financial planner Bryan Beatty to weigh in.
Beatty said: “They haven’t done any real work on the regulations to sort of control any behavior to [the] client adviser since the 1940 Act. [The Dodd-Frank Wall Street Reform and Consumer Protection Act] is going to change the industry.”
That’s not all! Click here to read the entire article.
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