Press Release: Are You Taking Care of Your Financial Future?


Contact: Hope Katz Gibbs, founder
Inkandescent Public Relations,
cell: 703-346–6975

Washington, DC, February 10, 2015 — “When it comes to New Year’s resolutions, don’t just think about going to the gym to get your body in shape — make sure your IRA, insurance, and portfolios are in tip-top form as well,” says CERTIFIED FINANCIAL PLANNER™ Bryan Beatty, a partner at Egan, Berger & Weiner, LLC.

Here are his5 Tips for Ringing in the New Year Right”:

  1. Take advantage of the increased contribution limits in 2015. Contributions to 401k and 403B plans have been increased to $18,000 (from $17,500) — and catch-up contributions have been increased to $6,000 for participants 50 and older, for a total of $24,000.
    Note: This is the year to sign up to have your contribution bumped automatically by 1 percent per year until it reaches the maximum. And remember, many employer plans offer matching contributions, so any amount up to a certain percentage that you contribute will be matched by the company you work for. Many plans offer automatic increase options on your contributions.
  2. Review your insurance coverage. When is the last time you checked your coverage under your life, disability, and homeowners or liability insurance? If your income has increased, or you haven’t investigated your insurance options in recent years, know that what was appropriate a few years ago may not be sufficient today to protect you and your family. Consider making one of your resolutions to review your insurance in Q1.
  3. Re-balance your portfolio or portfolios. With the current dominance of stocks over bonds and domestic over foreign investments, it’s likely that your portfolio looks dramatically different than it did just a few years ago. This shift changes your risk exposure. If you haven’t been monitoring your investments closely recently, your portfolio’s risk metrics are likely higher than you realize. It is important that you check the risk profile of your portfolios annually at a minimum.
  4. Consider a Roth IRA. If you are married filing jointly and your household income is less than $183,000 — you may make a Roth IRA contribution. This is an after-tax contribution of up to $5,500, plus $1,000 if you are over 50.
    Note: This IRA grows tax-free if you leave it for a minimum of five years and withdraw it after age 59-1/2. If you make more than the income threshold, you may still be able to get into a Roth IRA in a strategy referred to often as the “back door” Roth IRA. This is the process of contributing to a nondeductible IRA, and making an immediate conversion to a Roth, which is not income-threshold dependent. Be careful not to do this without professional advice as there may be other considerations for those with other IRAs.
  5. Use a password program to manage your accounts. As I noted in my article last year on credit fraud, it is important not to keep passwords to your important financial accounts on a sheet of paper in your top desk drawer.

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

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.

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Certified Financial Planner Board of Standards Inc. owns the certification marks CFP®, CERTIFIED FINANCIAL PLANNER™ which it awards to individuals who successfully complete CFP Board’s initial and ongoing certification requirements.

Securities and investment advisory services offered through Voya Financial Advisors, member SIPC. Egan Berger & Weiner is not a subsidiary of nor controlled by Voya Financial Advisors.