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. In 2015, after many years of successful investment and financial development for his clients, Darcy Bergen became an Investment Advisor Representative with Horter Investment Management LLC, offering even further reliance between trustees and beneficiaries.
Darcy Bergen explains the details of Roth Conversions, “The new Tax Cuts and Jobs Act (TCJA) that was signed into place in 2017, is a great reason to take advantage of the IRA investments and Roth Conversion. These tax cuts are scheduled to stay in place until 2025, but that absolutely depends on the political administration during the next few years.
“The advantages of converting a traditional IRA into a Roth IRA Conversion are that it is essentially the shrewdest way to get the most substantial amount of funds into the account. The distribution of traditional IRA funds is treated as taxable but making the conversion before the end of the tax year will be the best way to take advantage of the federal and state income status.”
Between now and April 15, 2020, you can make the Roth conversion or contributions, but the sooner, the better, since the five year tax-free withdraw is effective only with Roth IRAs that were implemented five years prior. With Traditional IRAs, federal and state tax deductions can be made. When an individual is retired, withdrawals are taxed at ordinary rates.
“Other benefits of Roth conversions are stretching a Roth IRA. This follows similar rules to a traditional IRA but does not necessitate any Required Minimum Distributions. Stretching exists if you named another beneficiary to pass the IRA on to. All Roth IRA distributions are tax-free. Some advantages of stretching Roth IRAs include avoiding sizable tax brackets, paying taxes on a deferred basis, and that the preliminary decisions can be altered if needed.” Darcy Bergen added.
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 make minimum annual withdrawals.
Most individuals, no matter their income or occupation, want to retire as well as possible, but these goals require a lot of preparation and being proactive about making the right investments at the right time.
Darcy Bergen explains, “When it comes to saving for retirement, having a target amount in mind is critical. If you have no idea of your target, you’ll have no way of measuring your steps. And limited access to developing a strategy to pursue that target goal. If you have no retirement objective, there is a likelihood that you will not save enough or take too much risk.”
Knowing your annual or monthly desired target will help financial professionals work with you to reach those goals. Determining the amount and the time it will be needed can be challenging. Many people plan for 20 years, but with the aging population growing and living longer, that might not be enough.
Many people would prefer to make the money they have grow into the amount they prefer at their retirement age, but that isn’t always the optimal plan because financial conditions can change. Knowing how your assets are allotted is critical to understand how you can reach your objectives.
Bergen Financials’ Process
1. Personalized Discovery-Discuss your retirement goals and income requirements
2. Strategy-Present options and strategies for funding your retirement lifestyle that are specific to your needs
3. Implementation-Set up accounts and reporting
4. Monitoring-Review accounts quarterly and annually with your personal team member
Bergen Financial Group shows clients that there is a way to save and live with guaranteed income for the rest of their lives with fixed annuity products. Darcy Bergen’s team 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.
At Bergen Financial Group, 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.
Darcy Bergen, CRFA
AZ License #: 7714485
The Bergen Financial Group Headquarters
20542 N. Lake Pleasant Rd. Suite 111
Peoria, AZ 85382
Investment advisory services offered through Horter Investment Management, LLC, a SEC-Registered Investment Advisor. Horter Investment Management does not provide legal or tax advice. Investment Advisor Representatives of Horter Investment Management may only conduct business with residents of the states and jurisdictions in which they are properly registered or exempt from registration requirements. Insurance and annuity products are sold separately through Bergen Financial Group. Securities transactions for Horter Investment Management clients are placed through E*TRADE Advisor Services, TD Ameritrade and Nationwide Advisory Solutions. Insurance and annuity products are not sold through Horter Investment Management, LLC (“Horter”). Horter does not endorse any annuity or insurance products nor does it guarantee their performance. Owners of these products are subject to the terms and conditions of the policies and contracts of the issuing companies. All product guarantees depend on the insurance company’s financial strength and claims-paying ability.
Darcy Bergen owner of Bergen Financial Group offers conservative retirement planning strategies and products designed to provide guaranteed income for life while protecting their client’s principal.
Darcy Bergen sheds light on earning substantial interest upon interest with compounding interest investments.
Compound interest is when the interest that accrues on an investment is added to the principal, and then the future interest accrues on the total. If the investment is placed in a trust or is able to accumulate more interest over time, the end result can be quite substantial, as it’s essentially growing interested in interest on interest.
Darcy Bergen explains, “If you deposit money into an account that is compounded annually, this is where the money will proliferate at a higher rate. For example, if you place $10,000 into a compounded account at a 5% interest rate with an additional $1,000 investment annually added to the account, the money you’d accrue at the end of ten years would be $29,495.73. The same investment in a simple interest account would be $25,000 at the end of ten years. This type of compounded investing is where the longer the investment is in place, the better the interest accrued will be in the long-term.
“The one thing that might deter senior investors is the time factor, but that’s where professional investment advisors prevail; we can help individuals find higher percentage investments to hold their money and watch it accrue even more quickly. We can recommend higher yielding interest rate accounts depending on the individual’s goals. For example, if we obtain an account that yields 8% interest for a client, they will see their principal investment double within nine years, and that’s with no additional investments.”
Bergen Financial Group offers conservative retirement planning strategies and products designed to provide guaranteed income for life while protecting your principal from the fluctuations of the stock market with fixed annuity options.
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.
Darcy Bergen has been in the financial field as an advisor for more than two decades. His knowledge, dedication, and interest in helping others achieve and understand financial planning is a genuine passion that Mr. Bergen continues to carry through his career with plans to reach more seniors in teaching them to understand optimal ways to maximize their earning potential throughout their retirement years.
Darcy Bergen, President, and CEO of Bergen Financial has received numerous awards and recognition throughout his career. He and his wife, Heather just completed a four-year radio show that they co-hosted called Safe Money & Income, which taught individuals how to amplify investment opportunities.
Growing up in Canada, Darcy Bergen moved to New Zealand with his parents for several years, while his father planted a church there. The Bergen family moved back to Canada, which allowed Darcy to complete both high school and college in their home country. His parents, both devout Christians, eventually took their passion for teaching others about God into the mission field full time.
Years later, Darcy Bergen’s parents went to Kenya as missionaries. The work was challenging, but his parents were dedicated and loved helping the locals drill for clean water, helping the orphanages and locals with food supplies, school supplies, teaching them life skills, mentoring, and spreading the love of the Lord.
One evening, Mr. Bergen’s parents were brutally attacked by 8 Kenyan men that beat them, cut them with machetes, broke their jaws, and raped his mother. Miraculously, Darcy’s parent’s withstood the torture, fled to the local hospital and received medical care. A true miracle, they did not face long-term injuries or lose limbs from the deep machete slices.
Darcy, like his parents understands forgiveness plays a huge role in life, and since his parent’s had a passion for the Kenyan people, they set a goal to return to their work there and to forgive these men, showing them the love of Christ. Darcy Bergen started www.bergensmission.com in 2008 to assist his parents in going back to Kenya and to spread the word of what happened, and what real love and forgiveness looks like in the face of hatred and despair.
Darcy Bergen is a highly-regarded Financial Advisor, but he also is a highly-moral human being that believes life teaches valuable lessons and draws individuals to a higher calling each and every day to stand firm and to live their best life by learning from each experience and sharing what you’ve discovered.
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. 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.
We all know the saying, “Only two things are certain, death and taxes.” These may be true, but there is also a very high likelihood that individuals may need long-term care in their golden years. The aging population is living longer, but not necessarily healthier, and this is causing a significant rise in long-term health care and support. Many people are surprised at how costly long-term care actually is and their equally as surprised to find out that it’s not covered under Medicare. So, what are your options when planning for future health care needs?
Financial Advisor, Darcy Bergen says, “Long-term care comes with a hefty price tag. Private duty nursing assisted living facilities, and skilled nursing homes can cost upwards of $50,000 to $150,000 per year. If you’re a wealthy person, you may take your risks and pay cash if necessary, but what about those that don’t want to risk it or succumb to future price increases? Two of the most popular options are a traditional long-term care policy or a hybrid policy.”
With a traditional long-term care policy, if the person does not use long-term care, the money is lost. This is why even for those individuals that are well-off financially, hybrid plans are becoming the better alternative. With a hybrid long-term policy, there are many benefits, and the biggest one for most is that if it’s not used, the beneficiaries receive the invested funds. Also, with a hybrid plan, many times, the amount initially invested will significantly increase if long-term care is needed. For example, if it costs $100,000 for the hybrid policy and the person needs long-term care, the amount set aside can in many cases be $200,000 to $500,000 allotted for the actual care depending on the policy specifics.
Darcy Bergen explains, “In order to afford the expense of long-term health care, many retirees are looking into hybrid whole life, hybrid indexed universal life (IUL), and hybrid annuities as alternatives to stand-alone long-term care policies. Hybrid policies are less restrictive and don’t usually have a “use it or lose it” approach to benefits. In fact, some hybrid policies offer a death benefit if the policyholder does not use long-term care benefits.”
Darcy Bergen is a financial advisor and owner of Bergen Financial Group headquartered in Peoria, Arizona. He takes particular interest in helping individuals learn the best tactics to retire with optimal reward. His passion for assisting people in building sustainable wealth and in living their best life in their golden years is based on market analysis and finances, and also their highest quality of life.
When it comes to getting older, there are many decisions that should be made before the unknown happens, such as a healthcare proxy and a living will, but when it comes to retirement, the plans individuals have made leading up to that decision are just as important as their strategies and resolutions during retirement.
How do you know you’re making the right decisions for yearly withdraws, asset allocations, and being confident that money is not depleted before you or your spouse die? What if you retire early, or what if you’ve needed to withdraw from taxable investments over the years? How do you make sure you stay ahead of the deductions and avoid a deficit? These crucial investment decisions are imperative for peace of mind and quality of life.
Darcy Bergen is an Investment Advisor Representative that specializes in teaching people about retirement investing and how to maximize their assets and allocations for the golden years. “If possible, deferring retirement by a few years is sometimes more beneficial than saving at a higher percentage for those few years beforehand. Also, there is so much confusion concerning when to retire and how social security plays a role in the overall income that people need to budget into their retirement planning.” Mr. Bergen’s organization, Bergen Financial Group, aims to provide education, advice, and consulting to retirees and those planning for retirement.
Darcy Bergen holds classes that teach his clients how to live with annuity-based products to provide guaranteed income for life. Bergen Financial Group’s advisors have over a century of combined experience assisting individuals in retirement planning and investing. Bergen Financial Group tailors a plan specific to each client’s specific needs and transitioning from wealth accumulation to wealth preservation.
You deserve to have knowledgeable financial advisors in the financial industry who can show you how to create a better retirement. You deserve financial advisors who are well-versed in all of the financial services you need to plan for and live in retirement, including:
- Retirement Planning
- Tax Planning
- Wealth Management
- Estate Planning
- Life Insurance and Annuities
- Income Strategies and Planning
Bergen Financial Group is headquartered in Peoria, Arizona and has offices in Tucson and Mesa, Arizona. Darcy Bergen’s educational seminars and retirement courses are designed to take the guesswork out of planning and to give clients a clear path into their financial future. To find out more, please contact Bergen Financial Group.
Managing Partner and Financial Advisor, Darcy Bergen started Bergen Financial Group in 2003 and has been 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 (Series 65 license), 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 index annuity options.
When high earning individuals retire, they can use their life insurance as a means of income. For business owners, it’s a way to make sure the company can move forward successfully. Concerning financial planning into retirement, purchasing a policy that will build cash value over the years with the principal protection while having stock market linked returns is a valid retirement plan, as the client can withdraw cash loans tax-free.
Darcy Bergen focuses on key retirement planning areas, including social security and risk management. Darcy Bergen teaches several retirement planning classes at local colleges designed for those who are retiring soon. Topics included are who to use Life Insurance as a retirement tool.
Universal life insurance premiums are used to cover the costs associated with the death benefit, and any excess goes toward the cash value. If a policy is purchased early enough in life, the cash may grow large enough to cover the costs, making the policy self-sustaining. The cash portion can be used for large purchases or to supplement retirement income.
Darcy Bergen explains, “The best kind of cash value life insurance plans are “index universal life because there is no stock market risk and the returns can be linked to earning interest based on an index like the S&P 500. Indexed plans can earn double-digit returns with no risk to the principal in good stock market years.
Darcy Bergen, owner of 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. Did you know that every month, 59 million people receive a Social Security Benefit? More often than not, Darcy Bergen sees some confusion from his clients when it comes to Social Security, and he sheds light on the basics of the plan and benefits.
The Social Security benefits act was established in 1935. Back then a lump sum was allocated to recipients until the law was changed in 1940. A lot of things have changed over the last 84 years, and many individuals are not as up to date on the basics of Social Security as they might need to be.
The Social Security trust fund reserves are 2.9 trillion. Most workers are eligible for Social Security benefits, but not all. For example, until 1984, federal government employees were part of the Civil Service Retirement System and were not covered by Social Security.²
For a retiree, at their full retirement age, the maximum yearly benefit is upwards of $33,000, which is around $2,780 per month, but this depends on how much you made and contributed over the years of your employment.
Benefits are based on an individual’s average earnings during a lifetime of work under the Social Security system. The calculation is based on the 35 highest years of earnings. If an individual has years of low earnings or no earnings, Social Security may count those years to bring the total years to 35.⁴ Eligibility is contingent upon your work length and history. If you were born after 1929, you’d need to have worked for at least ten years to be eligible.
There haven’t always been cost-of-living adjustments (COLA) in Social Security benefits. Before 1975, increasing benefits required an act of Congress; now increases happen automatically, based on the Consumer Price Index. There was a COLA increase of 2.0% in 2018, but there was only an increase of 0.3% in 2017.⁵
For more information, you can check your Social Security earnings and see an estimate of your benefits on the website, www.ssa.gov.
Social Security Administration Sources:
2-5, 7-9. Social Security Administration, 2018
Darcy Bergen, CRFA
AZ License #: 7714485
The Bergen Financial Group Headquarters
20542 N. Lake Pleasant Rd. Suite 111
Peoria, AZ 85382
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.