Darcy Bergen
When a Roth Conversion Makes Sense from Darcy Bergen

When a Roth Conversion Makes Sense from Darcy Bergen

Darcy Bergen believes that more people are taking advantage of savings by converting to Roth accounts. According to CNBC news, you could end up saving $41,000 on an IRA worth $1,000,000. This is based on the unique situation of recent stock runoffs, Darcy Bergen said.


If you’re stuck between panicking over sudden downturns and elated when the market goes up, it might be time to even out your investment portfolio with tax savings.


Darcey Bergen Discusses the Stock Meltdowns Effect on Retirement Savings

According to Darcy Bergen, Stock market volatility related to the pandemic has put a dent in many Americans’ retirement savings. However, it has created room to save money on taxes.


Here’s the strategy laid out by Darcy Bergen. You can use a Roth IRA conversion to convert a pre-tax retirement account to a Roth IRA. Pre-tax retirement accounts include 401(k)s and other qualified accounts. After-tax Roth funds have unique benefits.


Darcy Bergen Explains How This Can Save You Money

To take advantage of this strategy, you pay income tax now, while the stock market and tax rates are down, Darcy Bergen explains. This takes advantage of certain portions of the Tax Cuts and Jobs Act.


This is an extraordinary measure for extraordinary times, and Darcy Bergen doesn’t recommend using it as a regular investment strategy. It would be difficult to time the market in normal times. However, the economy may well remain depressed while run virus rages across the nation.


Stock Market Sell Offs May Continue, Darcy Bergen Predicts

Darcy Bergen and many other investors agree that recent market sell-offs may continue when coronavirus levels spike in the United States or around the world. In the meantime, you might at least get a break on your Roth conversion. This is largely due to lower taxes paid on your investment portfolio, which translates to lower overall taxes in this challenging year.


You don’t often get to shop around for tax breaks, according to Darcy Bergen. With everything that’s happened in 2020, investors have to take their wins where they can.


If you own a traditional retirement account, consider deferring taxes on your savings until you withdraw it. Since you pay the tax upfront, you won’t have to worry about coming up with the money later.


There are other benefits to Roth funds that you can discuss with your accountant or financial advisor. For example, you don’t have to take money out of your Roth account. IRA investors have to start withdrawing funds at age 72. Darcy Bergen encourages retirees to use every strategy available to decrease their Medicare premiums and Social Security taxes.


The Obscure The Social Security Rule that is Saving People Thousands

The Obscure The Social Security Rule that is Saving People Thousands

Having begun a successful life insurance company at age 21 in 1997, Darcy Bergen has more than 20 years of hands-on experience in financial risk management, financial planning, and retirement. Having worked in New Zealand, Canada, and The United States, he has developed a wealth of understanding in this field of expertise.


Today, Darcy Bergen is working to deliver knowledge of a little-known but critical financial success strategy for those approaching retirement. This strategy is saving people thousands of dollars right now, and still too few know about it.


According to Darcy Bergen, it is called “Restricted Application,” and it allows individuals to collect half a spouse’s full retirement age Social Security benefit without having to open a record of their own.


Mr. Bergen explains, “This means you can still earn an 8% delayed credit on your own full retirement age benefit up until age 70. Once you turn 70, you can switch to your benefit, having received a 32% increase over a four-year period.”


The law that supported this strategy was stricken down as a part of the 2015 budget act. However, those born before January 1st, 1954, may still take advantage of this valuable retirement strategy.


Darcy Bergen points out three additional points that those who wish to benefit from this obscure retirement rule must know. They are:


1.) Your spouse must have already opened his or her own record and started claiming Social Security benefits.


2.) You must be at full retirement age.


3.) This strategy is still available if you are divorced. However, the marriage must have lasted at least ten years, and you must not have remarried.


The only unfortunate part of this story is that so few people have been informed about this important way for retirees to get the most out of their retirement. Undoubtedly, this is not an accident. The act which eliminated the rule was intended to allow the federal government to keep more Social Security funds in federal coffers.


But as you know, Social Security funds are not intended for use by federal officials. They are designed to be used by the people who have been paying into it all of their working lives to secure retirement. That’s you.


The good news is that people as young as 66 can, at this time, benefit from this important Social Security strategy.


That is what Darcy Bergen wants you to know.


You must know your options before you file. Once you file, it may be too late to take advantage of this valuable strategy.


For those who wish to learn more, Mr. Bergen has set up this hotline, 602-652-2665. Or contact Mr. Bergen here, DarceyBergen.co.


Don’t let federal regulators deprive you of what you are owed. Mr. Bergen wishes to urge everyone who is eligible to protect their retirement before it’s too late.

Darcy Bergen Discusses the Different Types of IRAs and Their Role in Retirement

Saving For Retirement is a Major Issue, and there are Multiple Types of IRAs Available, which Darcy Bergen Is Here To Discuss

When it comes to saving for retirement, many people in the United States are simply falling short. The reality is that unless people listen to Darcy Bergen and plan ahead for retirement, they are going to be disappointed when it comes to their golden years. The good news is that there are options available. One option is called an investment retirement account, which is usually shortened to IRA. For those who are looking to get the most out of these accounts, they need to understand the various available options.

Darcy Bergen Discusses the Traditional Investment Retirement Account (IRA)

One of the first types of IRAs that Darcy Bergen wants people to know is the traditional investment retirement account. This IRA has been created to incentivize people to save for their retirement. When individuals contribute to a traditional IRA, the contributions are tax-deductible. The limit changes from year to year; however, according to Darcy Bergen, the limit right now is $6,000. This limit could change in the future, so it is important for everyone to keep up with the changes to make sure they contribute as much as possible.

Darcy Bergen Discusses the Roth Investment Retirement Account (IRA)

Another option when it comes to an IRA is called the Roth IRA. This type of IRA is slightly different from the traditional IRA. According to Darcy Bergen, people pay taxes on their money when they put it into a Roth IRA but not when they pull it out. Therefore, according to Darcy Bergen, this IRA might be better for some people. It is a good idea for people to look at where their tax bracket is right now and what tax bracket they think they will be in when they retire to make sure they minimize their tax burden.

Darcy Bergen Discusses the Self-Employment Investment Retirement Account (IRA)

Finally, it is important to talk about the self-employment investment retirement account, usually shortened to SEP IRA. This is a type of IRA that has been made available specifically for those who are self-employed. Those who have 1099 are going to be eligible for this type of IRA. Darcy Bergen states that the limits on a SEP IRA are different from those present on a typical IRA, including a traditional one or a Roth. Therefore, according to Darcy Bergen, it is a good idea for everyone to work with a trained professional who understands the rules and regulations of this account so that everyone can maximize the benefits that they receive from a SEP IRA. Similar to the other IRAs, contributions to this account are tax-deductible.


Darcy Bergen Shares His Philosophy on Retirement Strategies in an Economic Downturn

Darcy Bergen Shares His Thoughts on Retirement Strategies in an Economic Downturn

Darcy Bergen, a prominent financial planner, recently shared expert advice on how individuals can plan or adjust their retirement finances during a downturn. As the founder and managing partner of Bergen Financial Group, Darcy has a wealth of experience in income planning for retirement. 

He noted the impact of the Covid-19 health crisis is having on retirement planning. Hence, he decided to talk about the challenges and potential solutions to the financial situation. The current experience is creating a new dynamic for both retirees and people preparing for retirement. Darcy stated that the Covid-19 crisis highlighted the need to save earlier for retirement. 

Darcy Bergen Talks About How to Approach a Downturn

The impact of the downturn compels individuals to reassess their investment strategy. However, many people are unsure about how to approach this assessment to preserve and grow retirement savings. 

Darcy Bergen urges retirees and anyone close to retirement to reassess asset allocation. He underlines the importance of evaluating risk tolerance to prevent risky moves that threaten savings under recession conditions. By minimizing market exposure, it becomes easier to cope with market declines. 

According to Darcy, prudent portfolio management entails purchasing stocks in response to a fall. This rebalancing approach allows investors to push their portfolio back to target. Although this strategy appears counterintuitive, Darcy Bergen states that purchasing stocks low and selling high enables retirees to rebalance portfolios while reducing emotional bias.

Despite the risks, staying in the market is crucial during the downturn. By doing so, investors benefit from higher potential returns compared to yields derived from certificates of deposit (CDs), savings accounts, and other investment options. Keeping assets invested has historically been a way to counteract the effects of inflation and to avoid selling at the bottom during market volatility.

Younger investors can ride out a downturn, but retirees require the security provided by a mix of investments and assets. 

Darcy Bergen Shares Tips on Guaranteeing Retirement Income

To shield investments from the effects of the downturn, Bergen recommends opting for guaranteed income sources. These investment solutions should be immune to market volatility and allow investors to accumulate cash reserves and bolster a portfolio’s resiliency. In turn, it becomes easier to avoid losses.

Examples of stable sources of retirement income listed by Darcy Bergen include annuities, pensions, and social security. For individuals planning to retire, he recommends holding cash reserves in a savings account. These funds can help cover expenses for several years. 

Alternatively, individuals can go for cash value in permanent life insurance. This option acts as a stable cash reserve in a low performing market. By creating such a cash reserve, individuals avoid disposing investments at a loss when looking for cash supply. 

Darcy also emphasizes diversification, which keeps an investment portfolio diversification, which can mitigate some market volatility during market downturns. Some components of the portfolio may experience upswings and offset some losses. Bergen recommends incorporating multiple groupings and sectors in each asset class. 

Darcy Bergen Explains Social Security Benefits

We’ve Heard About Social Security Benefits All Of Our Lives – But What Are They? Experienced Financial Professional, Darcy Bergen Gives A Simple Overview

Darcy Bergen Knows About The Nuances Of Social Security Benefits

Social Security is simply that, a way that the government provides for the security of the people who need it the most in our society. However, there are a lot of nuances involved in who exactly is the most needy in our society. Social Security is a simple idea with complex applications. Going to a sound, experienced financial planner like Darcy Bergen is the best way to learn more about Social Security benefits.

Darcy Bergen Knows What Factors Impact Social Security Benefits

One area that Darcy Bergen has advised many clients, and even written articles about, is securing surviving spouse Social Security benefits. This is a particular situation that millions of Americans find themselves in every year. One important thing to remember when it comes to Social Security benefits is that the amount you receive each month depends on how much the worker earned during their professional career. Another factor that Darcy Bergen stresses is that the age at when the person begins drawing Social Security impacts their monthly benefit amount. 

Complex Issues Made Simple By Darcy Bergen

When it comes to understanding exactly how much Social Security can be drawn, Darcy Bergen emphasizes the fact that speaking with a sound financial advisor is key. This is important because the very simple idea of Social Security becomes very complex with each individual situation. Never assume that you will receive enough Social Security to cover all of your expenses. According to the Social Security Administration, Social Security was never instituted to be a full financial cover. It only covers a percentage of what you will need to maintain financially. Because of this, every situation is complex and individualized to the Social Security drawer’s situation.

Darcy Bergen explains in his article that the disabled can begin collecting survivor benefits as early as age 50. While surviving spouses who are caretakers for their under age 16 children can begin collecting benefits at any age. Social Security is meant to be a protection for disabled Americans, families in which a spouse or parent has died, and for workers who have become disabled.The Social Security Administration asserts that the beneficiaries are numbered to about 48 million people as of June 2019. Darcy Bergen underscores the point of knowing your full financial picture with the help of an experienced financial planner.

All Things Financial With Darcy Bergen

Darcy Bergen has been a financial planner for over two decades. Darcy Bergen has a background in the life insurance business and has been in the financial sphere since he was 21 years of age. He has started Clear Solutions LLC. He advises his clients as the head of Bergen Financial, with a staff of six and eight advisers on board. Darcy Bergen has dedicated his life to helping people understand their finances so that they could have a safe and happy retirement. 

Investment advisory and financial planning services offered through Simplicity Wealth, LLC, a Registered Investment Advisor. Sub-advisory services are provided by Advisory Alpha, LLC, a Registered Investment Advisor. Insurance, Consulting and Education services offered through Bergen Financial Group. Bergen Financial Group is a separate and unaffiliated entity from Simplicity Wealth and Advisory Alpha.

Darcy Bergen Shares Five Practical Money Moves To Make In Your Thirties To Set You Up For Retirement

Darcy Bergen’s Tips For Steps Professionals In Their Thirties Can Take To Maximize The Likelihood Of A Happy Retirement

When you’re in your thirties, it can be tough to think about retirement, but it’s vital that you do so, according to finance expert Darcy Bergen. Check out Darcy Bergen’s five top money moves to make in your thirties to help you prepare for your golden years, even though they may seem far away. 

Darcy Bergen

  1. Pay off credit cards ASAP. Credit card debt* can eat away at funds you could be investing in your retirement. Darcy Bergen recommends knowing your financial personality and deciding what style of debt management makes the most sense for you. While it may be more lucrative to pay off credit cards with the highest balances first, it can be more motivating to pay off the lowest balances first. Getting rid of credit card debt quickly is a smart way to boost the amount of money you can contribute to your retirement account, according to Darcy Bergen. 
  2. Consider life insurance. Life insurance isn’t a necessity for everyone, but if you are the main wage earner in your household, it may make sense for your family. Protecting your family with life insurance** can help you to still have money for your retirement if your sole breadwinner passes away unexpectedly, according to Darcy Bergen. 
  3. Strategize – then take a risk. Your thirties are a key time to take risks in your career, and Darcy Bergen recommends strategizing first. Whether this means starting a side business, leveraging your experience for a promotion***, or getting the education you need to move ahead, taking strategic risks now can pay off hugely when it’s time for retirement, says Darcy Bergen. 
  4. Darcy Bergen recommends using matching retirement contributions**** to your advantage. This one is simple: Darcy Bergen recommends maximizing your retirement contributions to the point that your company will match. Doing so is “free money”, and giving less than the maximum is throwing away money that could be yours. If you aren’t already taking advantage of your company’s matching retirement funds option, reach out to human resources as soon as possible to change your contribution. 
  5. Don’t forget about 401k plans. Many people in their twenties forget about 401k plans when they leave a job. In today’s fast paced economic climate, people are changing jobs and careers more than ever before, and it’s key to ensure that your retirement money follows you as you move around. Whether you choose to roll your old 401k into your new company’s 401k program, or you choose to roll your 401k into an IRA, be sure that you don’t just leave the money sitting with your old company. 

Why More People Want to Retire Early, According to Darcy Bergen

The Average Retirement Age and the Age People Want to Retire at Vary Dramatically According to Darcy Bergen

The average age to retire is 62 in the United States. However, research is showing that more people want to retire between the ages of 55 and 65.* Darcy Bergen, a financial planner in Arizona, explores why more people are looking to retire earlier.

One of the reasons Darcy Bergen states that people want to retire earlier has to do with being burned out from the job. People who work in high-stress jobs want to get out as soon as they can. By the time they reach their mid-50s, the idea of retirement looks better and better.

Additionally, many people are ready to retire once their youngest leaves the house. With a high-stress job and kids to deal with, it can be that much more stressful. Once the youngest is out of the house, there’s more to consider in terms of how to spend retirement years. This includes pursuing hobbies and traveling.

If you are fortunate enough to have your youngest leave the house at 50 and can retire, it could mean needing retirement savings to last for 50 years.

Not everyone has the means to retire at the age of 50, Darcy Bergen explains. As such, it’s important to start exploring a retirement plan as soon as possible. Darcy Bergen, who has a radio show regarding financial planning and also teaches a retirement planning class at a local college, has created countless plans. He believes the key is to start as young as possible.

Darcy Bergen also recommends that people take the time to explore various retirement income options. It usually starts by looking at a retirement plan with an employer, such as a 401k. A 401K should be set up immediately, especially if an employer will match contributions. Based on circumstances following that, an IRA should be looked into.

With more people exploring retirement at an earlier age, Darcy Bergen says that it’s important to establish a financial plan. It can help create realistic expectations and increase the chances of a person having the money that they need to retire at a younger age.

Darcy Bergen also warns that retiring too early with insufficient funds can lead to problems. Penalty-free access to IRAs is not available to a person until 59.5 with few exceptions. Social security income is not available until 60 and doesn’t give you as much income when you claim at this early age. As such, specific investment opportunities will need to be explored. It will increase the odds that the money is there as soon as a person is ready to walk away from the workforce.

Darcy Bergen recommends everyone be realistic about retirement age and work with a financial planner to establish a full plan.

Financial Advisor Darcy Bergen Discusses Possible Retirement Surprises Seniors Should Plan For

Financial Advisor Darcy Bergen discusses possible retirement surprises everyone should understand when planning for retirement. 

Darcy Bergen is an esteemed financial advisor with experience in tactical money management, life insurance, social security planning, and income planning for retirement. He has helped countless people create effective retirement plans and continues to do so through his company, Bergen Financial. Recently, Darcy Bergen discussed the possible retirement surprises every person should understand when planning for retirement. 

“One of the first things everyone should know when planning for retirement is that their retirement date may not come simply when they choose,” Darcy Bergen stated. “Sometimes, this day comes at a surprising time, and it’s essential to be prepared.”

Darcy Bergen explained that it’s important to plan for retirement even if you don’t plan on retiring very soon. He explained that the average age for retirement right now is 59. He added that not all of those individuals choose to retire at 59. Some of them retired due to health issues while others retired due to other factors, like job loss.* He explained that it’s essential to plan for retirement and understand that the retirement date could come sooner than expected. 

“Retirees also often forget that the IRS doesn’t cut any slack,” Darcy Bergen said. “Some senior citizens owe federal taxes on Social Security benefits, and they’re completely unaware. This can come as a shockingly unpleasant surprise.”

Darcy Bergen explained that retirees in 13 states may have to pay state taxes on social security benefits. Darcy Bergen stated that his job as a financial advisor is to help potential retirees plan appropriately for retirement, so they don’t have disheartening surprises. 

“Another surprise retirees often learn is that inflation has a larger impact on retirees than those who are working,” Darcy Bergen stated.

Darcy Bergen explained that inflation may affect the amount of money retirees need each year. He described how the average annual inflation rate in the United States is 3.22 percent.** That may not sound like a lot, but it means that at that rate, prices roughly doubled every 20 years throughout the past 100. Darcy Bergen stated that preparing for such inflation is an essential part of preparing for retirement. 

“These surprises aren’t meant to scare anyone away from retiring,” Darcy Bergen stated. “They’re simply to inform potential retirees, so they’re properly prepared. Speaking to a financial professional  well-versed in retirement planning can help ease your worries and prepare you for potential financial surprises.”

*https://www.nia.nih.gov/sites/default/files/2017-06/health_and_retirement_study_0.pdf (page 40)


The New Age of Retirement According to Darcy Bergen

How People Are Retiring Later Because of Insufficient Planning, According to Darcy Bergen

According to AARP, the full retirement age has increased from 65 to 66. It will be incrementally increased over the next few years to 67. In many instances, people aren’t retiring until 70 or older, either, because of insufficient money in their retirement funds. Darcy Bergen, a financial planner in Arizona, discusses why retirement ages are fluctuating.

For many years, people planned to retire at 65. It was when they were able to start accessing their Social Security benefits. Further, it was when pensions and other retirement plans became available.

Darcy Bergen identifies that many people are having to wait longer because they don’t have enough money set aside. Over half retired Americans are depending solely on Social Security.* Unless a person has no debt and their mortgage is completely paid off, the Social Security benefits alone are not sufficient.

Although many Baby Boomers are going to be retiring at the age of 70 or older, the millennial generation has a different plan. Studies have shown that many plan to retire before the age of 65. Many cite that they plan to retire at the age of 60. Darcy Bergen explains that it is possible but that it requires a retirement plan.

Most people who plan to retire before the age of 65 will need to have multiple sources of retirement income. This can come from savings, an IRA, 401k, pension, and more. Each type of retirement income can be withdrawn at different ages. An IRA will allow for withdrawals beginning at the age of 59 ½. The same is true with a 401k, according to Darcy Bergen. Some pensions require a person to be fully vested, though there may be early withdrawal taxes involved.

Darcy Bergen suggests that many people don’t have a plan for retirement. Those with no plan are the ones that will often end up working longer. They may have to wait until 66 or even 70 to retire if they retire at all. Meanwhile, those who set up savings plans now and establish a retirement strategy may have the ability to retire before the age of 65.

The amount to retire depends heavily on how a person plans to live once they say goodbye to their career. It will also depend on the level of debt that a person has. Darcy Bergen recommends that anyone planning to retire, whether it’s retiring early or on time when Social Security benefits are available, sit down with a financial planner.

Darcy Bergen teaches retirement financial planning courses at a local community college. He also maintains a talk show with his wife to discuss investments and retirement planning to ensure people get the information they need to make important decisions.

 Investment advisory and financial planning services offered through Simplicity Wealth, LLC, a Registered Investment Advisor. Sub-advisory services are provided by Advisory Alpha, LLC, a Registered Investment Advisor. Insurance, Consulting and Education services offered through Bergen Financial Group. Bergen Financial Group is a separate and unaffiliated entity from Simplicity Wealth and Advisory Alpha. 

Darcy Bergen Recommends Retirement Income Planning

Individuals and Couples Should Consider Making Time to Plan for Retirement Income

While the average age of retirement in the United States is 59.88 years old, many are still working to earn some kind of income past the age of 65*. Further, statistics from the American Association of Geographers (AGG) estimate that many are planning on living on Social Security benefits. Almost half of all Americans have no retirement plan savings whatsoever**, Darcy Bergen recommends that people make time to plan for retirement income.

Darcy Bergen, a financial planner based out of Peoria, AZ, hosts retirement classes at a local college. He also offers income planning for retirement.

Darcy Bergen wants people to plan and strategize about retirement income. He recommends that people look at the various forms of income that they will depend on during retirement. This can include not only Social Security but also pension, 401k, IRAs, and other investments.

Darcy Bergen says that it’s important for couples and individuals to have a plan. Particularly with couples, both parties need to agree on how much anticipated retirement income is needed. Many have no idea how much income they may need in savings to retire. Bergen explains that it could require a lot more than what the average person assumes.

The amount to have in savings depends on various factors. Some factors include age at retirement, life expectancy, anticipated lifestyle, and debts (including home mortgage). More people are living longer and this should also be taken into consideration. 

By taking the time to put a retirement plan in place, it could help serve as the reminder to monitor current spending habits and encourage people to save until the time they choose to retire, according to Darcy Bergen.

Darcy Bergen runs Bergen Financial and also co-hosts a radio show with his wife, Heather Bergen, featuring tips on how to save money and boost income.

Investment advisory and financial planning services offered through Simplicity Wealth, LLC, a Registered Investment Advisor. Sub-advisory services are provided by Advisory Alpha, LLC, a Registered Investment Advisor. Insurance, Consulting and Education services offered through Bergen Financial Group. Bergen Financial Group is a separate and unaffiliated entity from Simplicity Wealth and Advisory Alpha.