Finance Rules: EBW Financial News Radio

December26episode

Are You Worried About Paying for College? Carmen Wu Offers a Roadmap


WELCOME to Finance Rules: The Egan, Berger & Weiner Financial News Radio Show — a monthly podcast that offers insights into some of the top trends happening in the financial markets.

Today we’re featuring Financial Advisor Carmen Wu, who shares insight into a topic that is near and dear to the hearts of every parent — how in the world are we going to pay for college?

Indeed, a recent study by Sallie Mae suggests families are struggling to find the solution.

The report, “How Americans Pay for College 2013,” concluded that six out of 10 American families do not have a financial plan to pay for all years of college prior to the student enrolling, nor do they have a financial contingency plan should an emergency arise. According to the College Board, the average annual cost of attending a four-year college in 2020 will be $46,368—a 38 percent increase compared to today’s fees.

In this podcast interview, Carmen discusses:

  • How an American Family can address the challenges of saving for all of their financial needs, including raising a family, educating their children and retire successfully.
  • How much a family should consider saving each year to afford college for one child.
  • How early should parents start savings.
  • And, she shares some of the plans to consider to help families save, including the Uniform Gift to Minors Act (UGMA), Prepaid Tuition Plans, and 529 College Plans.

For more information about Carmen and the work she does at Egan, Berger & Weiner, visit www.EBWFinancialNews.com. And contact Carmen directly at cmwu@ebwllc.com.

Don’t miss next month’s episode of Finance Rules where CFP Howard Pressman will be talking about the Four Most Dangerous Words. We’ll look forward to that!

_Securities and Investment Advisory Services offered through Voya Financial Advisors, member
SIPC. Egan, Berger & Weiner, LLC is not a subsidiary of nor controlled by Voya Financial Advisors._


About Carmen Wu

Carmen Wu partnered with Egan, Berger & Weiner, LLC in August 2007. She brings nearly three decades of experience in the financial industry, and has served as financial adviser, branch manager, regional manager, chief operations officer and vice president of a regional banking institution.

A graduate of the University of Southern California, with a Bachelor of Arts degree in Political Science/International Relations, Martinez is an active member of the Rotary Club of McLean, a community service organization, and has served on the board of directors for five years. She is also an active member of the Financial Planning Association and the Financial Services Institute, and is currently enrolled in the College for Financial Planning.

Raised in California, Martinez moved to the east coast in 1987 and now resides in Alexandria, VA. The oldest of nine children, she enjoys spending time with her 19 nephews and nieces. In her spare time she pursues one of her lifelong passions for art by drawing and painting portraits, landscapes and still life.

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