For more than two decades, certified retirement financial advisor and veteran financial planner Darcy Bergen has specialized in providing clients with conservative financial and retirement planning products. Darcy Bergen, president of Bergen Financial Group, also delivers professional advice on his weekly radio program, Smart Money. More than 50 percent of Americans continue to work part-time after they qualify for early Social Security and Medicare benefits. Depending on the amount of money retirees earn, part-time work may lower Social Security payments. As of 2018, the income cap for early retirees is just over $17,000 per year. Any income above that amount is deducted from Social Security payments at a ratio of $1 for every $2 earned. Older workers collecting Social Security must be meticulous about reporting their income to the Social Security Administration. Any overpayment of Social Security funds must be paid back.
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Experienced financial advisor Darcy Bergen serves as president of Bergen Financial Group, with offices in Peoria and Phoenix, Arizona. As a retirement planning advisor, Darcy Bergen advocates for money strategies that reduce risk. Though market volatility is always a factor in investing, it becomes especially impactful for individuals nearing retirement. Diversifying a portfolio doesn’t go far enough for soon-to-be retirees who may need to rely on the return from their investments to pay for living expenses. Here are some considerations for managing a changeable stock market near retirement: Don’t Panic Historically, the market recovers within 16 quarters. However, selling stock due to fear during low times can result in huge losses. Experts advise following a sensible, individualized plan that considers years until retirement, money needed for living expenses, and the timeframe for the market’s recovery. Rely on Cash in the Short Term Experts advise having three to four years of living expenses in highly-liquid assets, such as savings accounts and certificate deposits (CDs). Access to this money can give retirees financial peace of mind and avoid withdrawing money on investments. Think of the Long Term Even the lowest-risk investment strategies are subject to inflation and reduced buying power. For this reason, retirees should always have some investment in higher-risk, but higher-return stocks. The ratio of low- to high-risk investments should increase with age. For example, people 55 or younger may put 100 percent of their investment in equities, while those three years or less from retirement age may reduce this to 70 or 80 percent and put the remainder in more stable bonds. 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 *Insert Name*. Securities transactions for Horter Investment Management clients are placed through TCA by E*TRADE, TD Ameritrade and Nationwide Advisory Solutions. A resident of Peoria, Arizona, Darcy Bergen, president of Bergen Financial Group, is an experienced financial advisor and investment adviser Representative with Horter Investment Management. Bergen Financial Group offers financial advice to seniors and people approaching retirement. With an emphasis on principal protected money concepts, Bergen Financial Group offers retirement planning products such as fixed annuity options. In its work, the firm moves away from aging retirement planning traditions such as buy and hold which currently takes too long to get back to even, and the modern portfolio theory which is anchored on stocks and bonds moving in close relation, a fete that has not occurred since 2007. Today, Bergen Financial Group takes a more realistic approach to retirement planning, one that is grounded in its fiduciary role to work in clients’ best interests. When a client comes to the firm, they are asked questions about their financial goals, investment timelines, and risk tolerance. Afterward, a plan for allocating assets is created in line with the client's individual needs. This plan covers your entire financial picture including lifetime income streams, insurance, tax efficiencies, and estate planning. 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.
For more than 15 years, Darcy Bergen has served as president and financial advisor at Bergen Financial Group. In his role as a financial advisor, Darcy Bergen helps clients navigate the risks of investing in the market.
Many people who have money in the financial markets fail to take full cognizance of risk. More specifically, they fail to take into account the possibility that conventional wisdom can be overturned. For example, they assume that markets always rise, that downturns are temporary, or that bull runs last forever. According to renowned trader and mathematician Nassim Taleb, these theories can all be cast aside by black swan events. According to Taleb, most of the world’s big events are rare and not measurable. These events, the likes of earthquakes, terrorist attacks, and volcano eruptions, are unpredictable and when they occur, have the potential to wipe out entire bull runs overnight. Think 9/11 and the 2008 financial crisis. As an investor, have you factored the risk of black swan events into your financial planning? Do you have a retirement plan that can help against losses from such events? If not, let Bergen Financial Group see how they can help you with the retirement plan you desire. The firm offers principal protected fixed insurance solutions that strive to grow the investors wealth to help avoid them suffering losses from unpredictable events. Get in touch with a representative at http://www.bergenfinancialgroup.com/contact 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. After completing the Series 65 exam, Darcy Bergen started providing financial consultation as president of Bergen Financial Group. A financial advisor, Darcy Bergen provides clients with advice on risk management, income planning, and life insurance. According to a study by the Life Insurance Marketing Research Association, less than half of Americans have individual life insurance coverage, the lowest level in half a century. One of the main reasons for this is that most workers opt for employer-provided group policies rather than individual coverage. Even though the employer benefit can be convenient, it is far better to maintain an individual life insurance coverage. The more obvious reason is to safeguard from employment uncertainties. Considering the employment market has its ups and downs, it is better to have an individual cover that remains active in the case of employment termination. The other less obvious reasons are the flexibility and benefits of an individual coverage. Individual life insurance policies can either be term or permanent. Term life insurance provides cover over a specified time period. The terms can go as long as 30 years. This policy gives policyholders several options. The payment schedules can be fixed or annually adjusted. Some plans have an option to extend the term or convert the coverage to permanent life insurance which provides a death benefit upon the death of the policyholder. With the permanent cover, payments are typically higher but the premiums remain the same. Insurers set aside a portion of these payments in tax-deferred, cash value accounts which grow at guaranteed rates. Policyholders can make withdrawals or take loans from these accounts, tax-free. |
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