Darcy Bergen
Bergens Mission Aids Families in Kenya

Darcy Bergen Explains How Bergens Mission Aids Families in Kenya

Philanthropist Darcy Bergen recently explained how Bergens Mission aids families across Kenya.

 

Bergen’s Mission was founded out of necessity. In 2008, a band of men broke into a farm in rural Kenya and brutally attacked the two volunteers living there. The couple had recently arrived in the village from Canada and planned to do missionary work for Kenyan orphans. This evening, they were very nearly beaten to death. John and Eloise Bergen were the ones attacked that evening, and this is what sparked their son Darcy Bergen to Bergens Mission organization.

 

Darcy Bergen explained that after the attack, his mother, Eloise Bergen was able to carry his father out of the bushes and into a vehicle to lead him to safety. She drove him to the hospital, and the couple both made a miraculous recovery. However, Darcy Bergen explained that what may be even more miraculous is his parents’ ability to heal, forgive, and continue on their mission to aid Kenyans in need.

 

“The fact that my parents are able to forgive their attackers is what drove me to create this foundation,” Darcy Bergen said. “In Jesus’ name, my mother and father were able to forgive each and every person who attacked them, including the guards who failed to protect them.”

 

Darcy Bergen is the president of Bergen Financial Group in Phoenix, AZ. However, he dedicates much of his time outside of work to serve as the treasurer of his Bergens Mission foundation. Despite what occurred that fateful night in Kenya, Darcy Bergen continuously works to support Kenyans through outreach work.

 

“Right now, we’ve been providing essential supplies to orphanages across Kenya,” Darcy Bergen said. “However, we also work to support the overall development of the region.”

 

Darcy Bergen explained that Bergens Mission continues to have a goal of improving the lives of Kenyans and Kenyan children. The goal is to provide them with the resources they need to receive an education and not follow the path that those attackers followed that day. Through improving the lives of Kenyan children and adults, Darcy Bergen and Bergens Mission are showing that forgiveness is an essential part of healing and that philanthropy is one of the best ways to improve society.

 

Darcy Bergen finished by stating that donations can be made on BergensMission.com as well as through purchasing the book chronicling the Bergens’ story, Forgiveness in the Face of Terror.

What You Should Be Doing In Your 40s According To Financial Planner

Setting Yourself Up For A Comfortable Retirement: What You Should Be Doing In Your 40s According To Financial Planner Darcy Bergen

Darcy Bergen Shares The Money Moves You Need To Make Today

 

In your 40s, the thought of retirement gets exciting. Suddenly, it’s not so far away anymore, and you want to make sure that you’re fully prepared to enjoy your golden years. In today’s complicated financial landscape, it can be tough to know whether you’re making the right choices when it comes to preparing for retirement. Financial planner Darcy Bergen is sharing how you can make smart financial moves now to fully prepare you to enjoy your life after you’ve finished a successful career.

 

First, Darcy Bergen recommends finding out exactly where your retirement accounts stand. Many people get nervous that they don’t have enough saved up for retirement and continuously put off finding out their situation for another day. Darcy Bergen recommends finding out exactly how much is in your retirement accounts and how much you can expect every month when you retire. From there, you’ll be able to decide if you need to make changes to have the type of retirement you envision, according to Darcy Bergen.

 

After you know how much you have, you’ll need to think about the amount you’ll need to enjoy a comfortable retirement. Don’t just guess what your expenses will be each month after you retire. If you currently have a mortgage, know whether you’ll still be making payments after you retire.

 

Darcy Bergen recommends considering all of your bills, plus recreational expenses – if you want to travel, visit family, or invest in property, be sure to take those factors into account. Darcy Bergen recommends figuring out your “must-have” budget and your “nice to have” budget. At the bare minimum, you need to be able to pay your bills, but you should be working toward the “nice to have” end of the scale.

 

If you haven’t already done so, Darcy Bergen says it’s time to start saving. Many experts recommend having eight times your final yearly salary in savings by the time you retire. If this seems like a far-off goal, start small. Look at your current budget and decide where you can cut down to start increasing your contributions to savings and retirement accounts. If the process feels overwhelming, Darcy Bergen recommends reaching out to a financial planner who can help you ensure you’re taking the steps you need to move toward the retirement you want.

Darcy Bergen Financial Portfolio

Darcy Bergen Discusses the Benefits of Annuities for Building a Financial Portfolio

It Is Important To Diversify a Financial Portfolio, and Darcy Bergen Is Here To Discuss the Benefits of Annuities

 

In today’s era, anyone looking to build a financial portfolio has to make sure that they diversify their interests. In addition to thinking about stocks, bonds, and mutual funds, it is also important for people to understand the benefits of annuities. Darcy Bergen is an expert in the financial field and is here to help everyone understand what an annuity is and how people can leverage annuities’ benefits to build a diverse financial portfolio that will provide wealth for years down the road.

 

Darcy Bergen Discusses What an Annuity Is and Why It Matters

First, everyone should listen to Darcy Bergen when it comes to what annuities are. There are multiple types of annuities; however, some of the most common annuities are called fixed-income annuities. According to Darcy Bergen, annuities can be helpful when it comes to retirement. These annuities have a significant upfront cost; however, they also provide someone with a fixed amount of income for the rest of their life. In this manner, annuities can be helpful for those who are planning on retiring at some point in the near future. Those who want to secure their financial future might want to think about investing in an annuity.

 

Darcy Bergen Discusses the Benefits of Having Guaranteed Retirement Income for Life

There are a few benefits of annuities, according to Darcy Bergen:

  1. Many people will like the security of having guaranteed income for the rest of their life.
  2. According to Darcy Bergen, many retirement annuities come with tax benefits, such as not having to pay taxes until the funds are withdrawn.
  3. Darcy Bergen also wants everyone to know that annuities can provide a steady rate of return as well, allowing people to grow their wealth in retirement.

These are a few of the most significant benefits that come with investing in retirement annuities. They can be a helpful way for people to diversify their retirement accounts for the future.

 

Darcy Bergen Discusses the Precautionary Tale of Early Withdrawal Issues

Finally, it is also important to think about the precautions people need to take when they open up an annuity. There might be times when people might need to access their annuity benefits early, as Darcy Bergen knows. Simultaneously, Darcy Bergen would like to encourage everyone to read the fine print on annuities carefully. This is because there might be some early withdrawal penalties for those who try to access those retirement benefits early. This could cost someone a significant amount of money, so everyone needs to plan when it comes to annuities to maximize the benefits.

 

Financial Advisor Darcy Bergen Explains What To Do In Your Forties To Prepare For Retirement

Darcy Bergen Explains How To Set Yourself Up For Success

When you’re in your forties, retirement is approaching quickly. This is the time to start planning so that you’re ready to enjoy yourself in retirement, rather than worry about your finances. Financial advisor Darcy Bergen is sharing his top tips for people in their forties who are working to prepare for retirement. 

Darcy Bergen says that one of the key factors to consider is whether you’ll want to work in your retirement. If you plan on bringing in some income after you retire from your full-time job, your financial situation may be drastically different than if you plan to live off of your retirement. 

You’ll also want to consider the type of lifestyle you’d like to have in retirement, according to Darcy Bergen. There’s a big difference in the income you’ll need if you decide to stay in your own home vs. purchasing a vacation home and living there full or part-time. You’ll also want to consider your hobbies, travel, and other activities that you’ll need to factor into your retirement financial plan. 

After you have an idea of the type of income you’ll need to support your ideal retirement, it’s time to start working to make that a reality. Darcy Bergen says that one of the first steps you’ll want to take to increase the likelihood of having substantial retirement income is meeting with a financial advisor. They’ll be able to go over your current portfolio with you and help you decide what you need to change in order to align your investments with your retirement goals. 

If you haven’t started saving for retirement yet, Darcy Bergen recommends getting in to see a financial advisor as soon as possible. They’ll be able to talk with you about starting a traditional or Roth IRA, as well as how to maximize your 401(k) benefits. 

In addition to working with a financial professional, Darcy Bergen recommends paying off as much debt as possible so that you’ll be able to utilize your retirement income for expenses. Darcy Bergen also recommends thinking about how large purchases at this point will affect your retirement. Many people in their forties are becoming financially sound for the first time, and it can seem like a good idea to purchase a larger home or a luxury car. Darcy Bergen recommends you consider if you’ll be making payments into your retirement and whether you’re comfortable with how that decision will affect your retirement income. 

A Word From Darcy Bergen on Life Insurance: Your Secret Weapon for Retirement

Retiring in today’s economy will require a lot of determination and creativity. When you are considering financial options to help you pay for retirement, you will need to think both inside the box as well as outside the box. If you are looking for retirement solutions that fit your life, Darcy Bergen is here to help. Let’s look at one creative way people are strengthening their retirement options.

When you are considering retirement options and strategies, life insurance is not usually the financial tool that comes to mind. However, more and more people are starting to realize that certain types of insurance can, in fact, bolster up their retirement savings efforts.

Traditionally, life insurance is a financial tool which benefits your surviving family or beneficiaries once you pass away. However, there are certain types of insurance which can provide far reaching financial benefits for you and your family while you are still alive. Very few people view life insurance as a sole method of retirement savings, but rather a nice little addition. Let’s find out how life insurance can help strengthen your retirement strategy.

Cash Value with Whole Life | Darcy Bergen

Whole life or permanent insurance, is a type of insurance product which you pay on indefinitely. This differs greatly from term life insurance which is only in effect for a set number of years. The retirement benefit of whole life insurance lies in the fact that whole life policies build cash value over time. Some whole life policies even allow you the option of earning interest or dividends in a tax-deferred way.

 This cash value is a money reserve which could come in handy during retirement. For instance, if you need a large sum of money unexpectedly, this cash value will be available to you.

Any money you cash out of the policy will decrease the ultimate death benefit for your family, though. It is important to remember that a whole life insurance policy should not be your only retirement vehicle. This should be viewed as a backup cash reserve.

Other Retirement Planning Options | Darcy Bergen

If you are getting serious about retirement planning, you can develop a comprehensive savings plan with Darcy Bergen that will cover your needs. It can be a lot to consider. That is why Darcy Bergen and his staff have developed proven retirement strategies to help you map out your financial future. If you have questions concerning retirement, please give us a call today to set up a consultation.

Will Social Security Exist In Forty Years? Expert Darcy Bergen Weighs In

Here’s What You Need To Know About The Future Of Social Security: Darcy Bergen’s Thoughts 

The number of Americans who will qualify for social security is increasing rapidly*, and the funds available are expected to be depleted rapidly, and the fund has been paying more than it takes in recently. If this trend continues, social security will not be able to pay recipients 100% of their benefit as early as 2034 unless something changes. What does that mean for Americans who have been paying into social security over the course of their careers, but won’t hit retirement age until after these social security funding concerns arise. Here’s what finance expert Darcy Bergen thinks will happen

Darcy Bergen knows that most Americans aren’t relying on social security – in fact, only 43%* Americans have confidence that social security will be around for the long haul. If these funding concerns come to fruition in 2034, it’s expected that people eligible to collect social security will receive about 75% of the benefits for which they were eligible. 

There will be a clear funding gap in the future, according to Darcy Bergen. Lawmakers will have to make decisions about whether they’re going to reduce benefits, or change the way that money is raised for social security. According to Darcy Bergen, people who will retire after 2034 need to think carefully about how they’re investing their money now. It’s key to think of social security as an unreliable bonus – not a reliable form of income for retirement. 

Darcy Bergen (52)

Research shows that 61% of people** who are currently paying into social security would be happy to contribute more now in order to have that income available for the future. Since this isn’t possible, Darcy Bergen recommends investing that money into your own retirement account, either through matching contributions with your employer or through your own 401(k) plan. 

Darcy Bergen recommends working hard now to make the investments that will pay off as you retire. This may mean meeting with a financial advisor to learn what retirement will realistically look like for you, and making changes now that will help you relax more comfortably in your golden years. Darcy Bergen says that many people choose to ignore retirement funds when they’re young, feeling that it’s too stressful to think about how they’ll manage money when they’re older. According to Darcy Bergen, this is one of the biggest financial mistakes that you can make. 

Working to ensure your successful retirement now will go a long way when you reach retirement age, regardless of what happens with social security in the future. Remember, Darcy Bergen recommends enjoying whatever social security benefits you end up receiving – but not relying on these benefits as your sole form of retirement income. 

Darcy Bergen Highlights Bonds and Publicly Traded Stocks Retirees Should Consider

Darcy Bergen is a financial professional who has helped retirees manage their retirement portfolios and stay consistently healthy financially. The details of the importance of bonds and securities are critical for any retiree to understand as they can often provide them the best chance of obtaining greater financial security as they age. 

Darcy Bergen Examines the Importance of Bonds and Investments 

As a financial advisor with years of experience helping retirees, Darcy Bergen fully understands the different ways that retirees can enhance their portfolio and retire successfully. He believes that it is essential that seniors of all ages understand the different ways that they can retire with confidence and believes that bonds provide one of the best methods for this purpose. 

He also believes that retirees should seek out bonds and securities as a way of avoiding late-life work situations. Darcy Bergen says that too many seniors are forced to work well past their ideal retirement age due to the lack of proper planning. This situation can pop up, Darcy Bergen says, and leave a senior with no choice but work. 

A Few Bonds Darcy Bergen Suggests for Retirees

Over the years, Darcy Bergen has examined many different bonds and found several that work well for retirees. For example, PZA offers what is known as the Invesco National AMT-Free Muni Bond. He finds that this bond is one of the most consistently productive and stable options available. Though it matures a little longer than others, it has a yield of 2.7 percent. 

Another bond that Darcy Bergen suggests is the Vanguard Intermediate-Term Bond. This option provides over 2,000 different securities and can have very high returns – sometimes as significant as eight percent. Darcy Bergen states that such gains are perhaps not always going to occur for seniors, but getting even a 5-7 percent return is an excellent option for those buying bonds of this type. 

Lastly, Darcy Bergen states that the Nuveen Select Tax-Free Income Portfolio is another option for retirees. It does have a little more market volatility, he warns, but getting 3.5 percent return tax-free is a significant benefit. Too many seniors struggle with taxes later in life, Darcy Bergen says, and this option helps to make the transition to retirement that much easier.

Source: https://money.usnews.com/investing/funds/slideshows/best-bond-funds-for-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 Explains Retirement Savings Can Start at Any Age

Young and Old Alike Can Save for Retirement, Darcy Bergen Advises

You’ve probably seen projections that estimate anywhere from 60 to 90 percent of your current income may be needed as your retirement income. This approach, while simple, may give you an unrealistic idea of what you potentially might need.* Darcy Bergen of Bergen Financial Group recommends that you look at your current expenses and decide which of those are expected to remain after you retire to get a more accurate account of what you may need. 

Depending on a person’s lifestyle and how much a person makes, it can take a significant amount of time to plan accordingly, even when factoring in interest rates. Darcy Bergen, an insurance professional based in Arizona, suggests that retirement savings can start at any age.

Darcy Bergen holds a retirement planning course at a local community college. He also has a radio show with his wife where he talks about planning for the future. He identifies that one of the most common things that he hears is, “I’m too young to think about retirement.”

It’s actually recommended that people start saving for retirement in their early 20s. One way this could be done is by setting up an IRA. Another option is an employer offered 401k, for those that have this available. Darcy Bergen points out that most employers will match a portion of the 401k contribution, which is further enhancing the advantages of a 401k plan.

Darcy Bergen (52)As someone who started his first life insurance business at the age of 21, Darcy Bergen is well-versed in the benefits of life insurance. Life insurance has the potential to offer protection at a crucial time for those who matter the most to us. Life insurance needs are different at different times in life. During working years, life insurance may be able to help your loved ones avoid changes in lifestyle in the event of your passing. During retirement, life insurance could also be positioned to offer additional tax and estate benefits. Darcy Bergen explains that regardless of your life stage, consider reviewing your life insurance needs annually to account for changes in your family situation.**

Darcy Bergen believes that there should be multiple sources of income for retirement. This can come in the form of Social Security, IRA payouts, 401k, pension, and more. When starting all of these things at a younger age, it can be beneficial later on.

However, Darcy Bergen also suggests that even those in their 50s and 60s can make decisions now that could allow them to retire sooner. Many people don’t think to save for retirement until much later in life, Darcy Bergen says. However, it’s never actually too late. There are retirement strategies that can help make up for lost opportunities earlier in life. 

Darcy Bergen suggests that everyone take the time to sit down with a retirement planner. Regardless of age, people should sit down to look at what they have and what they need. From there, a plan can be devised to help ensure that the right plans are being made. Additionally, adding a life insurance policy into the mix can offer death benefit protection.

Over the years, Darcy Bergen has helped everyone from their teens to their 70s plan for retirement. It’s never too early or too late, he explains. For those who don’t want to work for the rest of their lives, having a retirement plan is critical.

*https://www.bergenfinancialgroup.com/resource-center/retirement/investment-strategies-for-retirement

**https://www.bergenfinancialgroup.com/resource-center/insurance/protecting-those-who-matter-most

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.

This material is intended for educational purposes only and is not intended to serve as the basis for any purchasing decision. Keep in mind that most life insurance policies require health underwriting and, in some cases, financial underwriting.

Darcy Bergen Talks About the Pros and Cons of a Traditional 401k

Darcy Bergen of Bergen Financial Group discusses 401k pros and cons with members and prospective investors.  He wants such people to know exactly what they’re getting into if they choose to save for retirement that way. 

Darcy Bergen wants prospective 401k account holders to know that there are ups and downs of signing up for traditional 401k accounts. These are some of the pros and cons he talks about. 

The Pros of a 401k According to Darcy Bergen

Massive Tax Reductions

Darcy Bergen wants consumers to know that a traditional 401k plan can benefit them greatly during tax season. Their contributions come out of their paychecks before taxes, and that removes them from the part of the income that the IRS can tax. Theoretically, the contributions can put the members into a different tax bracket, which can qualify them for other credits and deductions. 

Free Money From the Employer

Darcy Bergen says that one of the most favorable aspects of starting a 401k account is that many employers offer matching contributions. As long as employees keep contributing to their accounts, the employers will continue to match the contributions. Bergen says that the process is like receiving free money, and no one would be unhappy with that. 

Low-Interest Loans

Darcy Bergen points out the low-interest loans as being another positive aspect of 401k account ownership. Some 401k plans permit participants to borrow from the plan. Generally, if permitted by your plan, you may borrow up to 50% of your vested account balance up to a maximum of $50,000. The loan must be repaid within 5 years, unless the loan is used to buy your main home.*

Darcy Bergen (52)

The Cons of a 401k According to Darcy Bergen

Caps on Contributions

Darcy Bergen warns that the government places a cap on the contribution amounts for 401k accounts. Accountholders will only be allowed to contribute $19,500 as of the year 2020, though employer contributions do not count toward this cap. Employees may be able to add up to $6,500 to that if they are over the age of 65.

Restricted Withdrawals

Darcy Bergen says that the whole concept of the 401k account is for a person to save money until he or she is nearing retirement age. Therefore, the IRS has many rules regarding withdrawals. An account holder may take a withdrawal from a traditional 401k account only if the emergency meets IRS guidelines. Some 401k plans may allow a hardship distribution to pay for medical expenses, funeral expenses, or tuition and related educational expenses.** Otherwise, the funds will not be released until that person reaches the age of 59 ½. Access to funds is very limited in this type of retirement account. If one would like more access to the funds, that person may want to consider opening a high-yield savings account or an alternative financial account that allows more freedom. 

Limited Investment Portfolio

Darcy Bergen also mentions that investment portfolio options are usually limited when a person opens a traditional 401k. The employer usually chooses an investment firm, and thus the individual is limited to investments that may not meet his or her specific needs. There are some alternatives to opening a traditional 401k, however. Darcy Bergen can explain the alternative retirement savings options to prospects so that they can choose the one that fits their lifestyle and requirements. 

Interested persons can visit bergenfinancialgroup.com for additional information about retirement accounts and the various alternatives they have when choosing the right one for themselves. 

Darcy Bergen Explains the Benefits of an IRA

Why IRAs are Beneficial Now and Through Retirement, According to Darcy Bergen

Opening an IRA account comes with a variety of benefits. While there are different types of IRAs available, it’s important to explore why one should open one. Darcy Bergen, a financial advisor based out of Arizona, discusses the benefits and how it can lead to a more effective retirement plan.

Darcy Bergen explains that there are several different types of IRA accounts. While there are pros and cons to each, he focuses on two of the most common: traditional and ROTH. The traditional IRA is tax deductible and grows tax deferred until retirement.   Contributions to the Roth IRA are not deductible however, the income in retirement is income tax free. In many instances, that is the type of IRA that he will recommend to people who are looking to plan for their retirement.

One of the most important things Darcy Bergen explains about an IRA is that it can lead to annual tax deductions. Most people will contribute to the IRA account on an annual basis. In some instances, it can lead to over $1600 in income taxes when contributing only $6,000 to an account.

Additionally, Darcy Bergen identifies that both can be a great source of retirement income. While many people will start to make withdrawals as early as 59 ½, withdrawals don’t need to be made until the age of 72. Darcy Bergen explains that leaving the money in these  accounts as long as possible is usually the best because the longer the money is invested for, the more potential for earning and compounding of interest.

Darcy Bergen (52)

Many people are not aware of the many tax-deferred retirement savings that are available with an IRA account. Darcy Bergen covers these things not only in the talk show that he has with his wife but also during the consultations that he offers. He explains how an IRA can lead to a more comprehensive retirement plan above and beyond what someone may have with a 401k account.

Darcy Bergen will discuss how using an IRA in connection with a 401k can multiply retirement savings. Then, by waiting until the age of 65 to retire, it can lead to more money being available. A well managed IRA can be a key component of a comfortable retirement. Darcy Bergen has found throughout his years of financial planning that many people don’t have IRA accounts or don’t understand the full benefits.

Darcy Bergen recommends that everyone take the time to sit down and discuss a comprehensive retirement plan. He also reminds people that retirement planning can happen at any time – and suggests that even people who are under the age of 40 begin to explore a plan.

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.