Financial Planner Darcy Bergen Discusses Strategies for Retirement Planning

Darcy Bergen

April 16, 2021

Financial Planner Darcy Bergen Discusses Strategies for Retirement

Financial planner Darcy Bergen recently discussed his top strategies for retirement planning.

The retirement years are often referred to as “The Golden Years.” However, anticipating life in retirement can be extremely stressful if you’re not adequately prepared. Financial planner Darcy Bergen recently offered several of his top strategies for retirement planning.

“Proper retirement planning is essential to enjoying your golden years,” Darcy Bergen said. “In addition to saving as much money as possible, several tips and tricks can help you maximize your savings and investments so that you can live more comfortably in retirement.”

Darcy Bergen first suggested monitoring your investments before retirement closely. He stated that the money needed to live comfortably within the first 5-10 years of retirement is often considered the most vulnerable. This is because it’s easier to begin overspending. More free time and habits associated with your previous income can cause you to spend more than you should.

“It’s important to remember that inflation is inevitable,” Darcy Bergen said. “Prices are going to rise over the years, and accounting for this is an essential part of planning for retirement.”

Darcy Bergen added that open communication is also an essential part of retirement planning. Many times, retirees are so focused on investments and savings that they forget the every day at-home activities you can do to improve your retirement planning. Darcy Bergen explained that it’s essential to speak with your spouse, significant other, and others who may live with you about how you think you should manage your retirement spending. Talking through these financial matters will ensure everyone is on the same page and could help limit overspending by one party.

“A budget is one of essential parts of retirement planning,” Darcy Bergen said. “Creating a budget alone is not enough. You must stick to that budget at all times.”

Darcy Bergen explained that a proper budget would allow you to know how much you can spend before retirement and during retirement. Bergen added that meeting with a qualified investment professional is an excellent way to create a realistic budget with a financial expert. An licenced financial advisor, like Darcy Bergen, can provide additional insight into how you can stay on track with your budget and retirement planning. 

“I always suggest that potential retirees pay off their mortgages if at all possible,” Darcy Bergen said. “A home mortgage can eat away a major chunk of your retirement fund on a monthly basis.”

Darcy Bergen finished by stating that a proper retirement plan created by you and your financial advisor can be precisely what it takes to enjoy your golden years to the fullest.