Financial advisor Darcy Bergen holds more than two decades of experience in financial planning. He sheds light on the rules of IRA contributions and withdrawals.
“The rate of return on investments will vary over time, particularly for longer-term investments. Investments that offer the potential for high returns also carry a high degree of risk, and actual returns will fluctuate.”
Darcy Bergen further explains, “The types of securities and strategies illustrated may not be suitable for everyone. Contributions to a Traditional IRA may be fully or partially deductible, depending on your individual circumstance. Distributions from traditional IRA and most other employer-sponsored retirement plans are taxed as ordinary income Roth IRA contributions cannot be made by taxpayers with high incomes. To qualify for the tax-free and penalty-free withdrawal of earnings, Roth IRA distributions must meet a five-year holding requirement and distribution must take place after age 59½.”
If your modified adjusted gross income is less than $122,000, you can make a full contribution. If your modified adjusted gross income is more than 122,000, but less than 137,000, a partial contribution can be made.
If your joint modified adjusted gross income is less than $193,000, you can make a full contribution. If your joint modified adjusted gross income is more than $193,000, but less than $203,000, you can make a partial contribution.
A full contribution is $6,000 for anyone under the age of 50. For those 50 and over, an increase of 1,000 is allowed for a contribution in order to enable those individuals to put away more for retirement at an accelerated rate.
Roth vs. Traditional
Roth Ira contributions have no tax deductions or breaks; however, the earnings and withdraw are typically tax-free. With Traditional IRAs, federal and state tax deductions can be made. When an individual is retired, withdrawals are taxed at ordinary rates.
Darcy Bergen understands that many individuals are confused by the tax exemptions and tax penalties regarding withdrawing contributions. Traditional IRA withdrawals before the age of 59½ may incur a 10% penalty on top of federal and state taxes. At age 59½, you can withdraw funds from an IRA without penalty.
Generally, once you reach age 70½, you must begin taking required minimum distributions. A tax professional can help assess your specific situation. Tax-free and penalty-free withdrawal also can be taken under certain other circumstances, such as a result of the owner’s death. The original Roth IRA owner is not required to take minimum annual withdrawals.
An inherited or Stretch IRA is allocated to a beneficiary by a parent, grandparent, spouse or others to hand down their IRA to a benefactor. The benefits of a stretch IRA are numerous. Some advantages include avoiding sizable tax brackets, paying taxes on a deferred basis, and that the preliminary decisions can be altered if needed.
Financial Advisor, Darcy Bergen states, “Investing should be easy – just buy low and sell high – but most of us have trouble following that simple advice.
There are principles and strategies that may enable you to put together an investment portfolio that reflects your risk tolerance, time horizon, and goals. Understanding these principles and strategies can help you avoid some of the pitfalls that snare some investors.”
An investment strategy that advocates holding securities for the long term and ignoring short-term price fluctuations in the market is not always a leisurely feat to interpret or achieve.
Knowing where the market is heading is not always easy to figure out and it certainly takes an expert to know what’s next in line for the financial markets. Darcy Bergen has over two decades of financial expertise. He further explains, “Bergen Financial Group Strives To Help You Achieve Financial Peace Of Mind.
In today’s uncertain economic conditions, you need financial advisors who strive to look beyond current paradigms for strategies that will help guide you toward your retirement dreams. Don’t go into retirement alone and uncertain.
With over 100 years of combined experience, our financial advisors can help you rest easy in the knowledge that we strive to keep your financial well-being safe. We are always working hard to help you with the future you desire.”
Tactical Money Management
By vacillating allocations in between asset classes, tactical allocation portfolios attempt to prepare and achieve capital appreciation by regularly shifting in between bond sectors and regions. Tactical allocations must adhere to and meet specific protocols to be considered in this class of portfolios.
Some of these protocols require either long-term or short-term shifts. For example, cumulative changes must exceed 10% over the given period of time, and
material shifts must be made on a quarterly basis or through a series of gradual shifts over a three-year period.
On the heels of founding Clear Solutions for Seniors, LLC, Darcy Bergen started Bergen Financial Group in 2003, and was recognized as one of the top 20 advisors in sales with Midland National life annuity division year after year. In 2015, after many years of successful investment and financial development for his clients, Darcy Bergen became a fiduciary (licenses 65), offering even further reliance between trustees and beneficiaries.
Bergen Financial Group offers conservative retirement planning strategies and products designed to provide guaranteed income for life while protecting their client’s principal from the fluctuations of the stock market with fixed annuity options. To find out more, contact them today.
Financial advisor Darcy Bergen holds more than two decades of experience in financial planning. On the heels of founding Clear Solutions for Seniors, LLC, he started Bergen Financial Group in 2003, and was recognized as one of the top 20 advisors in sales with Midland National life annuity division year after year. In 2015, after many years of successful investment and financial development for his clients, Darcy Bergen became a fiduciary (licenses 65), offering even further reliance between trustees and beneficiaries.
Bergen Financial Group offers conservative retirement planning strategies and products designed to provide guaranteed income for life while protecting their client’s principal from the fluctuations of the stock market with fixed annuity options.
Saving For Retirement & Living The Life You Deserve
Darcy Bergen founded Bergen Financial Group based on a simple philosophy; to teach their clients how to employ strategies to help protect them from incurring losses on their savings. Losing money in the stock market is not the way to save or live in retirement. His group aims to provide education, advice, and consulting to retirees and those planning for retirement.
Bergen Financial Group shows clients that there is a way to save and live with guaranteed income for the rest of their lives with annuity-based products. Darcy Bergen’s team of advisors has over 100 years of experience assisting clients. There is no longer a need to guess; they will set up a customized plan and help you implement a personalized strategy depending on your specific needs.
Personalized Retirement Planning is Critical
At Bergen Financial Group, they build long-term client relationships that span generations. They understand that financial products are often complicated and confusing, and that’s why Darcy Bergen’s team only implement strategies that their clients fully understand. Since they are an independent firm, they can present several different strategies, and not merely a one-size-fits-all approach. Bergen Financial Group can customize your plan based on your needs, not the needs of one company.
With headquarters located in Peoria, Arizona, as well as offices in Tucson, Phoenix, Glendale, Arizona, and Spokane Washington, their expertise is on a wide-ranging level. They offer educational seminars throughout the valley to help guide individuals through their financial journey and into a vibrant retirement.
To find out more about their educational retirement classes, please contact them today. them today.
Darcy Bergen, CRFA
AZ License #: 7714485
The Bergen Financial Group Headquarters
20542 N. Lake Pleasant Rd. Suite 111
Peoria, AZ 85382