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.
June 14, 2013, Bankrate — Reporter Rachel Hartman writes, “Jumping out of planes, scuba diving, and deep sea fishing can lead to more than weekend thrills. They may also affect what you’ll pay when you take out a life insurance policy.”
In this article for Bankrate, she interviews Egan, Berger & Weiner partner and insurance expert Dave Beck about how to buy life insurance if you participate in a dangerous hobby.
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March 5, 2013, Wall Street Journal — Sheldon Weiner is featured in today’s issue of The Wall Street Journal, in an article by reporter Niki Reading entitled, “Utilizing a Client’s Only Major Asset.”
The 65-year-old woman had recently lost her husband, and a significant chunk of her monthly income. The husband’s pension didn’t include survivor benefits, and the widow’s own Social Security and pension benefits provided just $2,000 in monthly income—far less than her $4,000 in monthly expenses. With only $35,000 in a bank account and a $25,000 annuity, she was on pace to run out of money before she turned 80.
“She certainly didn’t have enough to last a normal lifetime, and she recognized that,” says Sheldon Weiner, a fee-based financial planner at Egan, Berger & Weiner in Vienna, Va., which manages $300 million for about 400 clients.
When she was referred to Mr. Weiner by a friend, the woman told the adviser that her accountant recommended selling her only remaining significant asset: A piece of vacant farmland her husband had bought in the 1950s.
There were two problems with that plan.
Click here to read the entire article.
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By Sheldon Weiner
Financial Advisor/Partner
Egan, Berger & Weiner, LLC
“Money does not guarantee success,” insists Portuguese football manager José Mourinho.
But how important is guaranteed income in retirement? For most people planning ahead for retirement, guaranteed income makes them feel safer. They want to ensure they don’t run out of money before the end of their life.
The amount you’ll need differs from person to person, but industry standards suggest that approximately 35 percent to 40 percent of your current income should be the goal.
So how do you generate guaranteed income?
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March 2013, Research magazine — Egan, Berger & Weiner founding partner Sheldon Weiner is featured in this month’s issue of Research magazine in an article entitled, “Stocks: A Hard Sell.”
This cover story of the publication, written by Ellen Uzelac, explains that client enthusiasm for equities has evaporated. How are advisors responding?
Sheldon Weiner said: “Stocks have been a hard sell, but they shouldn’t be. They run in cycles and they have for several hundred years. Back in 2002 or so, Warren Buffett was asked by a reporter, ‘Who in their right mind would put money in the stock market right now? His answer was ‘the millionaire of tomorrow.’ That hasn’t changed.”
Click here to read the entire article.
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By Michael Egan, CFP®
CERTIFIED FINANCIAL PLANNER™
Partner, Egan, Berger & Weiner, LLC
Many of our clients will end up relocating in retirement. Some of them will move locally and others will leave the state.
There are many important factors to consider before making a move.
Below are do’s and don’ts to help you decide what’s best for you:
What to Consider:
- Location (location, location). Proximity to family and friends is critical as you age and need more help with day-to-day activities. If you can’t or don’t want to live near family, at least choose a home near a major airport. That way, if family members do need to visit, they will be able to get to you easily—and back home.
- Proximity to good medical care. Also, a short drive or walk to a supermarket is one of the top things retirees say is important to them. A great website to determine the walkability of your potential neighborhood is www.walkscore.com. Getting “away from it all” may sound great, but it isn’t always the best idea, especially as we get older.
- Resale value. You never know when something is going to happen that will make you need to move again. Sometimes the death of a spouse or significant other triggers the move. Sometimes it is health issues. Sometimes it is the needs of other family members. But it happens more frequently than you may think. Make an unexpected move easier on yourself by choosing initial retirement housing that will sell quickly.
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By Bryan Beatty, CFP®
Certified Financial Planner™
Partner, Egan, Berger & Weiner, LLC
Deciding when to retire may not be one decision, but a series of decisions and calculations.
For example, you’ll need to estimate not only your anticipated expenses, but also what sources of retirement income you’ll have and how long you’ll need your retirement savings to last.
You’ll need to take into account your life expectancy and health as well as when you want to start receiving Social Security or pension benefits, and when you’ll start to tap your retirement savings.
Each of these factors may affect the others as part of an overall retirement income plan.
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Review by Bryan Beatty
Partner
Egan, Berger & Weiner, LLC
How Not to Be Your Own Worst Enemy
A book by James Montier
Publisher: Wiley
In this insightful book by behavioral finance expert James Montier, we learn that bias, emotion, and overconfidence are just three of the behavioral traits that can lead investors to potentially lose money, or achieve lower returns.
Instead, he encourages readers to focus on “behavioral finance,” which recognizes that there is a psychological element to all investor decision-making—and it can help you overcome obstacles.
This academic, psychological approach to investing is what drew me to this book—a gift from a friend that I read in earnest earlier this month. Montier’s “Little Book of Behavioral Investing” takes us through some of the most important behavioral challenges faced by investors.
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November 8, 2012, Wall Street Journal — In today’s Wall Street Journal, financial advisor Bryan Beatty talks about the Dangers of High-Yield Investments.
“The Federal Reserve is keeping short-term interest rates at near zero levels and very few foreign central banks have interest rates much above 1%,” he explains. “Finding themselves in a challenging environment in which to derive income from their stocks and bonds, many retirees think they’ve found a solution in the form of high-yield investments such as real-estate investment trusts. But they’ve actually taken on a lot more risk than they realize.”
Click here to read the entire article in the Wall Street Journal.
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By Howard Pressman, CFP®
Certified Financial Planner™
Egan, Berger & Weiner
Picture this: James Bond, aided by a drop-dead-gorgeous nuclear physicist with a name that doesn’t even vaguely hide its sexual innuendo, is trying to disarm a bomb hidden under the Queen’s throne.
The bomb has a digital display, and James must enter the disarming code exactly as he read it when it was left unattended on the villain’s desk during the “I’m Gonna Blow-Up the World” masquerade ball.
If he gets the sequence wrong, he’s going to blow the Queen (and himself) to kingdom come.
If he gets it right, he hops a little dingy and spends six blissful days on the ocean with Ms. Nuclear Physicist. Drawing down your retirement savings is very similar—if the sequence doesn’t go just right, it’s possible that the whole thing could blow up in your face.
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October 5, 2012, BusinessBatteryPack.com — “When you run your own business, you are a master juggler,” financial advisor Bryan Beatty told the hosts of BusinessBatteryPack.com today.
He advised listeners how proper retirement planning can enhance your business,
how to become more confident and manage the daily risks that are essential to your growth, how a sound financial plan can attract more quality employees.
“The keys to creating a retirement plan without depending on Social Security,” Beatty insisted.
For more tips from Beatty on “How to Free Yourself from the Social (in)Security Trap and Secure Your Retirement,” click here.
For more information about this video news show for entrepreneurs, visit businessbatterypack.com.
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