Press Release: Is There a Millennial in Your Family? Here Are Three Smart Ways to Plan Ahead


Contact: Hope Katz Gibbs
Inkandescent Public Relations, / 703.346.6975

Washington DC, March 1, 2014 — When it comes to planning ahead for the financial future of the Millennials in your family, the key is for parents—and their offspring—to know their goals and understand the options, says CERTIFIED FINANCIAL PLANNER™ Bryan Beatty, a partner at the Northern VA financial services firm Egan, Berger & Weiner, LLC.

Here are three ways to get started.

1. Create a centralized paperwork hub, and offer Millennials access to it. At Egan, Berger & Weiner, we have the capability to store documents and share access to particular documents with the next generation. This includes wills, estate-planning documents, and other important legal papers. As needed, these can be shared with adult children in a private setting. The children can also see the actual retirement accounts—but only if the parents authorize it. Having everything in one place and readily accessible can relieve clients of a burden of organizing and keeping track of these important papers.

2. Attend educational seminars. At Egan, Berger & Weiner, we host two annual events for our clients and their families.

The first has nothing to do with money. We have a family-fun day where we invite kids and grandkids to an outdoor event, such as a picnic and a day at the batting cage. There is zero talk of investments or financial planning. We get to know the kids—and your children get to know members of our firm. This comes in especially handy down the road, when the younger generation is facing the serious illness or death of a parent, or any other situation when they need to work with our firm. Meeting us in an informal setting when they are young is a tremendous benefit. That way when they need to work with us in the future, they are not picking up the phone and calling a stranger.

Our other event is a half-day educational program aimed primarily at adult family members. This popular program draws more than half of the firm’s clients, and many bring a guest. There are classes on financial topics as well as social activities such as food, a wine tasting, and a classic car show. And there is live entertainment.

3. Set up a Teen IRA. For the younger members of the Millennial generation, another option to consider is starting a Roth IRA. Doing this early means extra years of compounding interest for the younger generation—and, potentially, this could lead to a considerably larger nest egg. We realize that persuading a teenager with an after-school or summer job to set aside money for a goal 50 years off can be tough. Parents can make it easy on their teens by funding the account. That way, the teens can spend their own pay and still get a jump on retirement savings.

About Bryan Beatty

Bryan Beatty is a CERTIFIED FINANCIAL PLANNER™ practitioner and partner at Egan, Berger & Weiner, LLC, which is based in Northern Virginia. With more than 20 years of experience in the financial industry, he is a principal of this independent financial services firm, which is experienced in all aspects of investment and retirement planning.

An active member of the Financial Planning Association’s Career Development and College Outreach Committees, Beatty is a graduate of the University of Maryland with a BS in Finance. He was the former president of the Finance, Banking and Investment Society, and he is an avid musician who plays guitar and writes music in his spare time, and occasionally plays area venues. Originally from Baltimore, Beatty has lived in Northern Virginia since 1992.

Questions? Email

For more information, and to interview Bryan Beatty, contact Hope Katz Gibbs at, or phone: 703 346-6975.


Approved: 19419370_03/2015