Bryan Beatty says: Sometimes an IRA is not a retirement account

March 2016 — With tax season upon us, here’s a question to ask yourself. How tax-smart are you about your healthcare expenses? According to Egan, Berger & Weiner LLC Financial Adviser Wade Brittingham, Health Savings Accounts (HSAs) and Flexible Spending Accounts (FSAs) may be two great ways to lower your tax bill with Uncle Sam each year — plus save money on out-of-pocket healthcare expenses. On today’s episode of EBW’s Financial Rules Radio Show, Wade explains: 1. What are HSAsClick here to listen to the podcast!

Financial advisor Sheldon Weiner and his wife Sharon had to consider a problem that many retirees have had to face. When Sharon retired a few years ago at age 65 from her corporate job, she was not interested in staying home and becoming a full-time babysitter for her grandchildren. She wanted to continue to work, be of value, and bring in some extra money. And she wanted to start her own business. But what would the consequences be? Where wouldClick here to listen to the podcast!

The growth of automated investment-advice platforms called Robo-Advisers is the topic at just about every conference in the financial advising industry in recent months. But using robo-advisers can be a very bad idea, insists Certified Financial Planner® Bryan Beatty, a partner at the Tyson’s Corner-based financial services firm Egan, Berger & Weiner LLC. On today’s episode of EBW’s Finance Rules Radio Show, Beatty explains: 1. What are “Robo-Advisors” that folks have been hearing about? 2. How is working with aClick here to listen to the podcast!

Many of us think about insurance as a necessary evil, something that we must have, but don’t really want to spend money on. We have homeowner’s insurance because our mortgage company mandates it. We have auto coverage because the state requires it. Now we have to have health insurance because the Affordable Care Act penalizes us if we don’t. What about life insurance? You don’t have to have it, so should you? And if so, why? Insurance specialist Dave BeckClick here to listen to the podcast!

Did you know that women worldwide currently outlive men by about five years? “Statistics show that by age 85, there are roughly six women to every four men. At age 100, the ratio is more than two to one. And by age 122 — the current world record for human longevity — the score stands at one-nil, in favor of women,” explains Egan, Berger & Weiner financial adviser Carmen Wu. On today’s episode of “Finance Rules,” Wu explains that, unfortunately,Click here to listen to the podcast!

While we were enjoying our vacations last summer, the trustees of Medicare released their annual report on the Status Of The Social Security And Medicare Programs. “What they decided may not make some people happy,” explains CFP Michael Egan in today’s podcast interview on Finance Rules: EBW’s Financial News Radio Show on the Inkandescent Radio Network. Egan explains: 1. The hospital fund (Part A) is expected to be funded until 2030, which is the same as last year. After 2030,Click here to listen to the podcast!

Expensive housing, relatively high taxes and maddening traffic frequently motivate people to look elsewhere for their next phase of life For anyone fantasizing about “where next” while stuck in bumper-to-bumper traffic on the Beltway, below is some food for thought as you consider finding your paradise. But it’s worth noting that the notion of a true paradise may be misleading. And decision you make will likely involve certain tradeoffs. To help us identify what’s most important to you in yourClick here to listen to the podcast!

“When it comes to good health, having a healthy retirement plan is key,” knows Pat Rullo, host of the radio show, Speak Up and Stay Alive. in this podcast interview, the woman who speaks to audiences around the country about the hazards of hospital stays, how to survive them, and the importance of having a health care advocate — interviewed Certified Financial Planner Bryan Beatty about how to plan ahead so you’ll be able to cover health care costs inClick here to listen to the podcast!

American business magnate Warren Buffett and Vanguard Group founder John Bogle have told us time and again: When people see rising and falling prices — the normal, unceasing action of the stock market trying to price thousands of assets in real time — they feel a need to react, to do something. The fact is they should do nothing at all. Volatility is normal and should be utterly ignored. In fact, Bogle told MarketWatch on June 29: “Don’t pay aClick here to listen to the podcast!

Whether you’re watching the nightly news or browsing online, it’s hard to escape the popular topic about baby boomers and America’s shifting demographics. The nation’s aging population — specifically people ages 65 and older — will grow to 81 million by 2050, up from 37 million in 2005. As this wave of Americans begins the transition into retirement, financial adviser Wade Brittingham is here today to review the basics of retirement planning. On this episode of Finance Rules, we askClick here to listen to the podcast!

In his role as a founding partner at Egan, Berger & Weiner, LLC, Sheldon Weiner has been giving retirement advice for well over 35 years. During that time he has seen clients make literally hundreds of mistakes regarding their retirement planning. And he personally has learned from their mistakes — mainly because as a husband for more than four decades, he does not want to have to explain to his wife, Sharon, why they do not have the quality ofClick here to listen to the podcast!

Do you have long-term care insurance? If not, you may want to reconsider, suggests Egan, Berger & Weiner partner Dave Beck, who on today’s podcast answers a handful of questions to help you better make this important decision. Why is it important to buy long-term care insurance? Dave says, “Many people think it’s too expensive. Or maybe they think they really won’t need it. Well, I’d love to agree, but statistics show that the odds are against you.” According toClick here to listen to the podcast!

Are your estate planning documents accomplishing your estate planning goals? And did you know that even if you have not yet established your estate documents, you already have an estate plan? For so many people, this topic is the “big elephant in the room” and is challenging for most of us. But if you own any assets — regardless of how much you have — you have an estate, insists Financial Adviser Carmen Wu of Egan, Berger & Weiner LLCClick here to listen to the podcast!

Much has been written about the cost of a college education and the debt burden being placed on our children. In fact, 2014 college graduates have the dubious distinction of carrying the highest student loan debt in history. According to the “Wall Street Journal,” today’s grads are saddled with, on average, $33,000 in student loans — nearly twice the amount of just 20 years ago. Start factoring in advanced degrees or more expensive schools, and you can see how theClick here to listen to the podcast!

Much has been written about the cost of a college education, and the debt burden being placed on our children. In fact, 2014 college graduates have the dubious distinction of carrying the highest student loan debt in history. According to the “Wall Street Journal,” today’s grads are saddled with, on average, $33,000 in student loans — nearly twice the amount of just 20 years ago. Start factoring in advanced degrees or more expensive schools, and you can see how theClick here to listen to the podcast!

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 andClick here to listen to the podcast!

What better way is there to celebrate 2015 than by making sure your financials are in great shape? None, believes Certified Financial Planner Bryan Beatty, who is here today to talk about making sure our IRAs, insurance, and portfolios are in tip-top form. In this podcast, he shares 5 tips for ringing in the New Year right when it comes to financial planning: What is the most important thing we can do this month to get our financial houses inClick here to listen to the podcast!

If you have a child with special needs, planning ahead for his or her financial future—especially in terms of insurance—is complex. The reason is that every situation presents itself with a different set of circumstances. So on this episode of Finance Rules: Egan, Berger & Weiner’s monthly podcast show, insurance agent Dave Beck is here to share a three-part process parents can use to help make it easier to develop a strategy that will work for their family. Hello andClick here to listen to the podcast!

How important are social security benefits for women? That’s the question Financial Adviser Carmen Wu discusses in this podcast, who explains, “Social Security Benefits may be the only source of retirement income for a large majority of retirees, particularly women.” So it is critical that you understand how you become eligible for benefits. In this podcast you’ll learn: How important are social security benefits for women? Why don’t women know some of the basics of social security? What is theClick here to listen to the podcast!

Howard Pressman, CFP® at the financial services firm Egan Berger & Weiner LLC says that like most people, he loves a good scare — especially at Halloween time. But when it comes to planning ahead for your financial future, the last thing he wants to be is scared. “Nonetheless, I repeatedly see very smart people making some not-so-smart choices,” he admits. What are the five scariest financial mistakes that Pressman sees people make? In this podcast interview you’ll learn allClick here to listen to the podcast!