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EBW Knowledge Center

EBW Knowledge Center offers a collection of articles, videos and podcasts on a variety of financial planning topics. Our goal is to help readers accomplish their dreams by skillfully navigating them through life's myriad financial decisions.

 

Thursday, October 19, 2017

On September 27, President Trump and Republican leaders finally released the latest version of their long-awaited tax reform package. As with previous proposals, the new plan promises to cut taxes for individuals and businesses, while...

 

Thursday, October 19, 2017

It won't come as a surprise to anyone that our brains are quite complicated. Sometimes our minds can even play tricks on us. Take for example the image below, which blue circle is larger? Of course the circles are the same size, but...

 

Wednesday, October 18, 2017

In the aftermath of Hurricane Harvey, homeowners everywhere must be wondering what they can do to protect themselves from the risk of flooding. What many people don’t realize is that while your homeowner’s insurance policy...

 

Wednesday, October 18, 2017

Today, is second home ownership part of the American Dream? And, is it a good financial decision? The number one reason for purchasing a second home is to use it for vacationing and family retreats. Close second is an investment...

 

Thursday, July 13, 2017

For the last few years the term fiduciary has been flying around the investment community and in the financial press. I am sure you have heard it mentioned on some level or to some degree. But, I don’t know if you truly know what it m

 

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Wednesday, July 12, 2017

We are always hearing stories about how the majority of Americans do not have enough saved for retirement. Retirement may be coming up soon or may be a long way off for you, but how do you know if you’ve saved enough.

 

Monday, June 19, 2017

A 401(k) plan is a great way to save for retirement, but sometimes, despite our best planning efforts life happens and you need access to your money. 401(k) plans are retirement savings vehicles and by design, you are discouraged from using

 

Monday, June 19, 2017

As the month of May concludes, it also marks the close of Disability Awareness month. Yes, I am aware that 99.99% of you had no idea that May was a Disability Income Insurance Awareness month and that only insurance geeks like me did. Howev

 

Friday, June 2, 2017

“More than 70 percent of Americans over the age of 65 will need long-term care services at some point in their lives,” according to a study by the U.S. Department of Health and Human Services. There are multiple options for seni

 

Tuesday, May 30, 2017

I have been a financial advisor/planner for over 27 years and I have posed and heard that question many times myself. Financial planners have more experience and knowledge about investing money and ensuring that money you saved will last yo

 

Tuesday, May 9, 2017

Money problems are cited as one of the top reasons why couples get a divorce. As I wrote in my earlier blog, cultivating a solid financial relationship with a loved one is essential in living out the “for richer or poorer” part of the vows.

 

Saturday, April 8, 2017

Have you recently changed jobs or retired from your current employer? You may be wondering what you should do with your old employer retirement plan. Former employees typically have four options for their old 401(K) or other employer r

 

Sunday, March 26, 2017

Every year someone you know plays a prank on you on April 1st. If you look up April Fool’s Day it is unclear how it started or even what it is about. Some historians speculate that April Fools’ Day dates back to 1582, when France switched f

 

Monday, March 20, 2017

I am sad. As my two favorite F seasons both recently came to a conclusion. The NFL concluded its season in spectacular fashion with the NFL’s version of the “Evil Empire” winning yet another Super Bowl ring and Misters Bra

 

Friday, March 10, 2017

2016 proved to be a year of significant, and at times surprising, events. Between the U.K.’s Brexit vote, Republican sweep of the U.S. election, U.S. equities reaching record levels, and the Fed’s decision to raise interest rate

 

Wednesday, March 8, 2017

As the father of a nine year-old girl, I often find myself wondering about the mixed messages given to girls, and the impact they have. As an example, last weekend I was doing an internet search for fun science projects

 

Monday, February 13, 2017

Millions of individuals marry every year where they promise to "love, honor and cherish each other for better or worse, for richer or poorer…till death us do part." Yet, one of the top challenges marriages face are financ

 

Wednesday, February 8, 2017

My parents grew up in the generation where a great deal of mothers stayed home and raised the children and managed the household. My father worked for 45 years as a letter carrier and odd jobs for extra money along the way. It worked. They

 

Tuesday, January 24, 2017

It’s the New Year and we all have our resolutions. Many of you plan on losing weight, getting into better shape and some of you plan on improving your financial situation. Financial planners are often asked, what is one thing I should

 

Sunday, January 22, 2017

Valuations Are Fair and Earnings Should ImproveSince the election the stock market is making new highs seemingly every day. Does that mean we should worry? We don’t think so. The S&P 500 is trading at just a little more than the 2

 

Wednesday, January 18, 2017

In William Shakespeare’s The Tempest, the dastardly Antonio implores Sebastian to kill his own brother, the King of Naples, by convincing him that “what’s past is prologue.” Antonio, who had 12 years earlier usurped

 

Monday, January 2, 2017

Lately, there has been a lot of new announcements in the long-term care insurance industry and it's hard to keep up what do they actually mean to those of us who already have long-term care insurance or thinking of getting it in the nea

 

Monday, December 5, 2016

It's no surprise that we are all living longer, in fact one of the fastest growing segments of the population is people over the age of 100! There are many wonderful benefits to living longer lives, but what affect does aging have on ou

 

Monday, December 5, 2016

Many people of my age or older, will instantly associate that famous line of Who’s On First with the comedy routine of Abbott and Costello. Abbott intentionally confuses and ultimately, infuriates poor Costello throughout the en

 

Wednesday, November 16, 2016

This is not what I expected to be writing about for this blog post. I had an entire piece written about the effects of declining cognition on financial decision-making, an important topic I hope to share more about in a future. But for toda

 

Thursday, October 20, 2016

Watch as Sheldon Weiner, who is retiring after 30 years in financial planning profession, shares his insights what are the two main things that people need to think about before finally retiring.

 

Sunday, October 16, 2016

As most of you already know, after 30 years in the financial planning profession, I have decided to retire. I was a bit worried to find out if the saying “Doctors make the worst patients” would apply to me, now that I hav

 

Sunday, October 16, 2016

Most people will depend on 3 sources of income in their retirement: Social Security, benefits provided to them at work and their personal savings. However, most are not sure how much they will need to live on in their retirement, and even w

 

Thursday, September 15, 2016

According to a study, the average American worker spends approximately $2,750 per year eating lunch out instead of brown-bagging from home. If you spend that much, and your money were instead invested for retirement, you could increase your

 

Tuesday, August 30, 2016

According to a recent Transamerica Retirement Survey of Workers we have a wobbly retirement stool and that unstable stool is illustrated by widespread unsettledness among workers: 61% of workers have not fully recovered from

 

Tuesday, August 9, 2016

It is never too early or too late to start creating your financial plan. As Mark Twain said “The secret to getting ahead is getting started.” By creating your retirement plan you can take control of designing your fu

 

Sunday, July 24, 2016

Watch as Christy White highlights topics you should talk about to your financial advisor before having a child. If you are planning to start a family, or have already started, you may be wondering how you can afford such a life changing end

 

Sunday, July 3, 2016

If you are planning to start a family, or have already started, you may be wondering how you can afford such a life changing endeavor. Sure there is plenty to do with setting up the nursery, determining what accessories you need, taking chi

 

Friday, July 1, 2016

IRAs and Roth IRAs receive what is known as a “retirement funds” exemption under Section 522 of the Bankruptcy Code.This exempts tax-exempt retirement funds from a bankruptcy estate.Except when they don’t. Here’s why

 

Friday, July 1, 2016

American women face a complex challenge when it comes to securing retirement income that will last a lifetime.The reason often has to do with life spans increasing and women outliving the men in their lives.As I explained in my article

 

Friday, July 1, 2016

Have your records been breached? If so, that panic you feel should lead to you take action.Here’s what to do:1. Monitor Your Credit. It is essential to check for new accounts that have been opened, and to see if any charges have

 

Friday, July 1, 2016

Since couple years ago Federal Reserve Chairman Ben Bernanke announced the Fed’s intention to taper the bond-buying program, know as quantitative easing (QE), the bond market has seen record flows out of all bond asset classes. No sec

 

Friday, July 1, 2016

We all know it’s an option to buy bonds vs. stocks—but what is the best investment?“Since 2007, investors have poured almost $1.4 trillion dollars into bond funds; I presume this was done in an attempt to be safe,” s

 

Friday, July 1, 2016

Egan, Berger & Weiner founding partner Sheldon Weiner knows that since 2008, it has been tough for people to feel confident about their retirement savings. To make matters more complicated, many people are behind in their retirement pla

 

Friday, July 1, 2016

No matter where you turn these days, you can’t escape the debate between those who believe there is inflation, and those who claim there isn’t. So which is it? That depends on whom you talk to, and how they define inflation.Watc

 

Tuesday, June 28, 2016

Watch as Bryan Beatty offers tips on how parents can help their Millennial kids plan ahead for their financial future. He helps answer the following:Why Millennials need to be concerned about getting started in financial planning or saving

 

Tuesday, June 28, 2016

​Do you have enough insurance coverage? Insurance specialist and Egan, Berger & Weiner Dave Beck provides you guidance on this topic and answers the following questions:1. What is long term care insurance and what does it cover?2.

 

Monday, June 27, 2016

Watch as Michael Egan explains IRAs and answers the following questions:What are the different types of IRAs?What are the contribution limits?Are beneficiary designations that important?What are the distribution rules?

 

Monday, June 27, 2016

Ah, the joys of aging.From having to ask my kids for help with the computer to needing help to get up off the driveway after I fall (none too gracefully) while playing basketball—at 50, life is an adventure.Still, I cannot think of an

 

Monday, June 27, 2016

​“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

 

Monday, June 27, 2016

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 dec

 

Monday, June 27, 2016

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

 

Monday, June 27, 2016

Watch this webinar to learn what Baby Boomers need to know to maximize retirement income.

 

Friday, June 24, 2016

Certified Financial Planner Howard Pressman had a college professor who made a big impact when he explained the four most dangerous words when it comes to planning for retirement: “This time it’s different.”“As inves

 

Friday, June 24, 2016

Watch as Sheldon Weiner gives his insights on taking out money out of your retirement accounts and answers the following questions: When it comes to taking money out of your retirement accounts, what are your options?Is there a problem

 

Friday, June 24, 2016

Watch as insurance expert Dave Beck helps answer the following questions concerning the future of long-term insurance:What is long term care insurance and what does it cover?Does everyone need long term care insurance and will the new healt

 

Friday, June 24, 2016

Watch as Michael Egan, an expert in traversing the Social Security system, explains the following:Social Security is not going bankrupt. Here’s why.You can actually be eligible for up to three different benefits during your lifetime.

 

Friday, June 24, 2016

If you are an independent business owner or self-employed, watch as Bryan Beatty explains retirement savings basics:If you are self-employed, is there something special you need to do to save for retirement—especially in a way that of

 

Friday, June 24, 2016

Are you worried about paying for college? Watch as Carmen Wu gives you food for thought with these four questions: 1. How does an American family successfully address the challenges of saving for all of their financial needs — ra

 

Friday, June 24, 2016

What do 20 somethings need to know about saving for retirement?A lot, insists CFP Michael Egan, a founding partner at the Northern-Virginia financial services firm Egan, Berger & Weiner, LLC.Watch as Michael Egan explains:​1. As a

 

Wednesday, June 22, 2016

Since Federal Reserve Chairman Ben Bernanke announced the intention to taper the bond-buying program, know as quantitative easing (QE), the bond market has seen record flows out of all bond asset classes.No sector was spared.What is happeni

 

Wednesday, June 22, 2016

As most of the Federal Employees already know, OPM (Office of Personnel Management) has announced a rare event: the open season for the Federal Employees’ Group Life Insurance Program (FEGLI). However, many of the federal employees ar

 

Wednesday, June 22, 2016

​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 peop

 

Wednesday, June 22, 2016

Surveys suggest that more than 67 percent of Americans are worried about not having enough money for retirement, according to seniorsite.com, and of those, 61 percent fear outliving their money more than they fear death. Here’s w

 

Wednesday, June 22, 2016

When you are approaching retirement, you have to think about where will your health care coverage come from once you terminate your health insurance provided by your employer. The confidence of knowing your health care is covered - one of t

 

Monday, June 20, 2016

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,

 

Monday, June 20, 2016

Here’s a question I have been pondering lately: Do men and women invest differently?Books, research, and independent studies have concluded—yes, women do invest differently than their male counterparts.And, in many cases, it lea

 

Monday, June 20, 2016

Since Social Security is a complicated system, it requires a significant amount of planning before you file for benefits. I have spent years studying how it works so that I can best help my clients plan and prepare a proper strategy.Below a

 

Monday, June 20, 2016

When you run your own business, you are a master juggler—someone who as Michael Gerber says, “not only works on the business, but in the business.”Too often, however, business owners get so overwhelmed with growing their c

 

Monday, June 20, 2016

An expert on inflation, Beatty clarified some of the more confusing details of what inflation is, and how it applies to a retirement plan.Beatty shared the nitty-gritty details explaining:First, the concept of inflation is something that mo

 

Monday, June 20, 2016

Like many 50somethings, Dave Beck is a member of the sandwich generation.“That means I am caring for my aging parents while supporting my own children—a situation lots of us are in now, or will be one day,” says the partne

 

Tuesday, June 14, 2016

​Despite our best efforts at ignoring our increasing age, it is an inevitable reality that outside forces will remind us.That moment came for me last weekend while playing basketball with my 20-year-old son.As I went in for a jump sho

 

Tuesday, June 14, 2016

For the next 18 years, 10,000 people will turn 65 every day.Why is that important? Because 65 is the age you need to start signing up for Medicare—the primary health plan that most Americans use in retirement.The challenge is that mos

 

Tuesday, June 14, 2016

One of my business professors gave a lecture on what he saw as the four most dangerous words in the American language.That was a long time ago, so before we get to his nuggets of wisdom, I would like to spend some time discussing more curre

 

Monday, June 13, 2016

“Better safe than sorry.” How many times have you heard that old axiom?Most of us likely heard this first from our mothers, and lucky for me, I recently had the opportunity to revisit the topic with my wife when discussing why I

 

Monday, June 13, 2016

Saving for retirement is challenging—but studies show it’s actually tougher for women, who all too often find themselves living in poverty during retirement.On average, women who are 65 years and older rely on a median income of

 

Monday, June 13, 2016

Are you thinking about moving to another state? What personal finance considerations should you consider? Be sure you’ve given thought to:What’s the best way to handle switching bank accounts?When should one roll over a 401k?How

 

Monday, June 13, 2016

If you just got a new job, or are about to retire after a long and successful career—then congratulations!But after the champagne and festivities, do turn to the important decision of what happens to your defined contribution plan wit

 

Monday, June 13, 2016

What three ideas are critical to keep in mind when deciding how much life insurance you need?For Generation X (anyone born between 1965 and 1980), you may need more than you think.To find out if you should increase your coverage, consider t

 

Monday, June 13, 2016

The Oxford Club, a private, international network of investors and entrepreneurs, has a singular mission: To grow and protect the wealth of its members.So I love that its chief investment strategist, Alexander Green, is famous for asking th

 

Monday, June 13, 2016

What does retirement look like to you?To hear the financial services industry tell it, retirement looks like a distinguished grey-haired man and an attractive silver-haired woman walking hand in hand down a magnificent beach, enjoying the s

 

Monday, June 13, 2016

While we were enjoying our summer vacations last year, the trustees of Medicare released their annual report on the Status Of The Social Security And Medicare Programs.Here’s what they decided:1. The hospital fund (Part A) is exp

 

Thursday, June 9, 2016

People in their 20s and early 30s have many competing financial goals: • They’d like to buy a house, or a bigger house. • They want to plan for colleg

 

Monday, June 6, 2016

When it comes to taking control of your financial future, having a handle on a few basic he offers his rules of thumb when it comes to investing. 1. Why didn’t many people’s portfolios come close to seeing returns that refl

 

Monday, June 6, 2016

Last year’s “Status Of The Social Security And Medicare Programs” report indicated that Part B premiums are expected to increase by more than 50 percent.“Before you get too upset, know that it is projected that 70 pe

 

Wednesday, June 1, 2016

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.Below,

 

Wednesday, June 1, 2016

Will somebody please tell me what season it is? Those words were inevitably uttered whenever Elmer Fudd, that intrepid hunter, went out hunting that wascally wabbit, Bugs Bunny. Poor Elmer always ended up very confused as to whether he shou

 

Wednesday, June 1, 2016

One of the biggest things you can do to ensure the success of your financial plan is to make sure your children have a plan. I have seen so many good financial plans derailed over the years because of parents' need or desire to help out

 

Friday, May 27, 2016

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 retiremen

 

Wednesday, May 25, 2016

Much has been written about the cost of a college education and the debt burden being placed on our children, knows CERTIFIED FINANCIAL PLANNER™ Howard Pressman.“In fact, 2014 college graduates have the dubious distinction of carrying the h

 

Tuesday, May 24, 2016

Listen to this webinar to learn what significant developments 2016 is expected to bring given the momentum the new year has brought. Crucial questions on the minds of investor are discussed, including the implications of Federal Reserve con

 

Tuesday, May 24, 2016

In this segment, EBW's Michael Egan discusses the importance of financial education for your children. "I see too many times parents' financial plan go sideways when they need to financially bail out their children. The best gif

 

Tuesday, May 24, 2016

In this webinar, EBW financial advisor Howard Pressman and life and career coach Candy Spitz offer their insights on how to have not only financially secure but also a happy retirement. They focus on emotional aspects of your retirement and

 

Tuesday, May 24, 2016

Watch as insurance advisor Dave Beck together with Jeff Mervin, Director at Capitol Metro Financial Services discuss what long term care is, its costs, its impact on your loved ones and how best to plan for it.

 

Thursday, May 12, 2016

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.So how does an American family successfully address the challenges

 

Thursday, May 12, 2016

Have you established an estate plan? Are your estate planning documents accomplishing your estate planning goals? Did you know that even if you have not yet established your estate documents, you already have an estate plan? Addressing

 

Thursday, May 12, 2016

I have found that many people are unaware of the estate planning opportunities available to them. The eight categories outlined below can give you insight into things to consider so you can identify your goals and build the team you will ne

 

Thursday, May 12, 2016

A student of economics would likely believe that with the aging American population, long-term care insurance packages should be flying off the shelf based on the principle of supply and demand.But according to the National Bureau of E

 

Wednesday, May 11, 2016

In my role as a founding partner at Egan, Berger & Weiner, LLC, I have been giving retirement advice for well over 35 years.During that time I have seen clients make literally hundreds of mistakes regarding their retirement planning.I h

 

Wednesday, May 11, 2016

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 age

 

Wednesday, May 11, 2016

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 asse

 

Wednesday, May 11, 2016

In the aftermath of the financial crisis of 2007-2008, the average investor ran from the market as though the sky were literally falling.Many felt that their stocks were actual knives they were juggling, and they didn’t dare catch one

 

Wednesday, May 11, 2016

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, watch a

 

Wednesday, May 11, 2016

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 re

 

Wednesday, May 11, 2016

Many of us think about insurance as a necessary evil, something that we must have, but don’t really want to spend money on. Watch as Dave Beck how to determine whether or not you need life insurance. He also helps answer the following

 

Wednesday, May 11, 2016

Recently, 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 b

 

Wednesday, May 11, 2016

With tax season upon us, here’s a question to ask yourself. How tax-smart are you about your healthcare expenses?Watch as Wade Brittingham explains how Health Savings Accounts (HSAs) and Flexible Spending Accounts (FSAs) may be two gr

 

Wednesday, May 11, 2016

Many people living in the DC area plan to retire elsewhere in the country.Most folks weren’t born here (a true native such as myself is as rare a sighting as Bigfoot), and people often relocate here for their careers but don’t h

 

Thursday, May 5, 2016

Have you heard about robo-advisers? The growth of these automated investment-advice platforms is the topic at just about every conference in the financial advising industry in recent months. Watch as Bryan Beatty explains why robo

 

Thursday, May 5, 2016

In his 2015 Scientific American article, Why Women Live Longer Than Men, the director of the Institute for Ageing and Health at Newcastle University in England, Thomas Kirkwood, writes:“If there are any men left who still believe that women

 

Wednesday, May 4, 2016

Recently, my wife and I had to consider a problem that many retirees have had to face.The issue: When Sharon retired a few years ago at age 65 from her long-time corporate job, quite frankly, she was not interested in staying home and becom

 

Wednesday, May 4, 2016

Health Savings Accounts (HSAs) and Flexible Spending Accounts (FSAs) are two great ways to lower your tax bill with Uncle Sam each year — plus save money on out-of-pocket healthcare expenses.As a general guideline, healthy individuals

 

Tuesday, May 3, 2016

Roth accounts are a great way to build flexibility into your retirement income planning because they trade tax benefits today for tax benefits in the future. To make the most of them, it’s best to start planning long before retirement

 

Tuesday, May 3, 2016

Recently, robo-advisershave been gaining market share against retail advisers, because they provide a cheap way to invest some money and are fairly easy to interface with.For those who are unfamiliar with them, a robo-adviser is an investme