Finance Rules: EBW Financial News Radio

February 5episode

Michael Egan Offers 3 Financial Planning Rules of Thumb

When it comes to taking control of your financial future, having a handle on a few basic rules of thumb is the key to success, believes Certified Financial Planner Michael Egan.

In fact, 2014 was a great year for large-cap US stocks (the S&P 500) — the index was up 13.7 percent — yet many individuals are wondering why their portfolios did not come close to those returns.

The question his clients ask is whether they should make changes and be more aggressive? Should they get rid of bonds or international stocks?

The founding partner at Egan, Berger & Weiner LLC is going to give us some answers today.

  • Let’s dive right in and ask you: Why didn’t many people’s portfolios come close to seeing returns that reflect the 13.7% increase on the S&P 500?
  • You have 3 rules of thumb that you share with your clients. And Rule #1 is stay diversified and do not chase returns. Why is that so important?
  • Rule #2 is stay within your risk tolerance. Explain what a risk tolerance is, and why it’s essential to know your limits.
  • And Rule #3 is to stick to your discipline — and rebalance. Explain what that means, and again, why it’s essential.

Thank you so much for being with us Mike! For more information about Egan, Berger & Weiner, LLC visit and learn more from the company’s knowledge university at

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