 Darcy Bergen leverages over two decades of experience in the financial services industry to inform his role as the president and managing partner of Bergen Financial Group in Arizona. In this role, Darcy Bergen oversees the firm’s services to help clients navigate on matters related to insurance, wealth management, investments, and retirement.
Whether you have already built up a nest egg or are just starting to save, it is crucial to avoid the common mistakes that can sabotage your retirement journey. Below are three mistakes to avoid when planning for retirement: 1. Not paying off debt - Having too much debt can set you up to fall short in retirement or delay retirement altogether. Paying off debt in retirement also makes your financial choices limited. If you work to pay off as much as you can before retirement, the more disposable income you will have for preferred retirement activities. 2. Underestimating healthcare costs - When planning for retirement, it is important to take into account the increase in health insurance premiums and out-of-pocket costs that come with aging. Long-term care is another healthcare expense that is often ignored, but can be expensive in retirement. Plan ahead and set aside funds or secure insurance for your preferred type of extended care services such as assisted living and nursing home stays. 3. Failing to choose an investment strategy - The investment strategy must reflect your current and long term goals and not be based solely on market conditions. In this case, it is best to choose a diversified asset allocation strategy that considers how much risk you can tolerate in growing your investments to ensure your desired retirement income. 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.
0 Comments
 Married couple Photo by Samantha Gades on Unsplash Leveraging more than two decades of experience in the finance industry, Darcy Bergen advises the public on how to make sound financial decisions through his educational workshops. Darcy Bergen specializes in strategies that maximize income while reducing tax burdens, including social security planning and collection strategies for individuals and couples.
Married couples and unmarried ex-spouses who were together for at least 10 years can qualify for Social Security spousal benefits. Spousal benefits are equivalent to half of the spouse’s benefit as of full retirement age. After one partner turns 62, a qualifying ex-spouse can file for benefits. Currently, married couples must wait until one partner files for their own Social Security benefit before being eligible to receive spousal benefits. While the recipient of the spousal benefit will have a lower total amount of Social Security paid out, filing for a spousal benefit doesn’t impact the amount of Social Security the retired spouse receives. However, waiting until 70 to collect Social Security can boost spousal death benefits by 32 percent.  An accomplished financial advisor, Darcy Bergen is the founder and president of Bergen Financial Group. Darcy Bergen also serves as the treasurer of Bergen’s Mission, a nonprofit organization that partners with Hope for the Nations (HOPE) to provide emergency assistance, education, and housing to individuals and families in underserved communities around the world.
As HOPE celebrates 25 years of dedicated service, the organization is now active in seven regions: East Africa, Europe, North Asia, South Asia, The Americas, West Africa, and West Asia. In addition to its work in improving access to education, healthcare, and income, HOPE also aims to enrich the lives of people who are victims of natural disasters, conflicts, and wars. HOPE has established the Ambassadors program to encourage long-term volunteers and fundraisers to sponsor a child or community and create projects that benefit children at risk. Investment advisory services offered through Horter Investment Management, LLC, an 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 Darcy Bergen. Securities transactions for Horter Investment Management clients are placed through E*TRADE Advisor Services, TD Ameritrade, and Nationwide Advisory Solutions. Investment advisor representative Darcy Bergen advocates for low-risk strategies that protect investments and create retirement income streams. On a recent retirement class, Darcy Bergen discussed the volatile nature of retirement investments in the stock market.
In addition to the normal up and down cycle of the market, stock investments can be impacted by world events. Some of the most influential changes to the global economy include: - New tax structures. Governments often make changes in the way businesses and industries are taxed. Companies may respond to higher taxes by moving to a different country. Conversely, lower taxes may encourage more investment. Shareholders may sell or buy stock accordingly, which impacts share prices. - Currency value. Correlated with stability and collective confidence in a country’s government, currency value can plummet if a nation undergoes severe political turmoil. This can have a ripple effect throughout the global economy since many companies have distributors and suppliers based around the world. - War or political instability. Likewise, an armed conflict in a single nation can have ramifications across the international stock market. Companies may have to shut down overseas operations due to violence. While markets usually recover in time, the initial shock caused by a revolution, coup, or war can trigger a significant drop. Arizona-based financial advisor Darcy Bergen supports the work of Bergen’s Mission, a charitable organization dedicated to improving the quality of life for people in East Africa. Darcy Bergen serves as the charity’s treasurer. The organization is a longtime partner of the Canadian nonprofit, Hope for the Nations. To address a lack of access to education, Hope for the Nations established the Hope Gateway Education Center in the Sinai neighborhood of one of the Nairobi's biggest slums. Home to more than 200,000 people, Sinai has no public school system. Families must pay for private school if they want to educate their children. To help break the cycle of illiteracy and poverty, Hope for the Nations partnered with a local agency to establish the Hope Gateway Education Center in 2005. More than 200 elementary school children attend the center at no cost. Every pupil also receives two healthy meals and free school uniforms. With the help of high school students from British Columbia, the center was able to install an on-site pumping system to ensure that students have access to clean water. 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 Darcy Bergen. Securities transactions for Horter Investment Management clients are placed through E*TRADE Advisor Services, TD Ameritrade and Nationwide Advisory Solutions. Your investment advisor may recommend third-party money managers who utilize investment strategies designed to minimize portfolio volatility and reduce the risk of declines in account values. Low Risk or Low Volatility strategies are generally defined as strategies that have a 10-year maximum drawdown of less than 10%. Like any other investment strategy, this approach entails risks, including the risk that client accounts can still lose value and the risk that a defensive position may, at any given point in time, prevent client accounts from appreciating in value. Arizona-based financial advisor Darcy Bergen supports the work of Bergen’s Mission, a charitable organization dedicated to improving the quality of life for people in East Africa. Darcy Bergen serves as the charity’s treasurer. The organization is a longtime partner of the Canadian nonprofit, Hope for the Nations.
To address a lack of access to education, Hope for the Nations established the Hope Gateway Education Center in the Sinai neighborhood of one of the Nairobi's biggest slums. Home to more than 200,000 people, Sinai has no public school system. Families must pay for private school if they want to educate their children. To help break the cycle of illiteracy and poverty, Hope for the Nations partnered with a local agency to establish the Hope Gateway Education Center in 2005. More than 200 elementary school children attend the center at no cost. Every pupil also receives two healthy meals and free school uniforms. With the help of high school students from British Columbia, the center was able to install an on-site pumping system to ensure that students have access to clean water. |
Archives
November 2019
Categories
All
|
RSS Feed
