Darcy Bergen Explains the Benefits of an IRA

Darcy Bergen

August 28, 2020

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.