Monthly Archives: January 2022

Financial Advisor Darcy Bergen Discusses The Ins and Outs of an IRA

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Financial advisor Darcy Bergen recently discussed the ins and outs of an IRA.

PEORIA, AZ / Most investors and potential investors have heard the term “IRA.” However, financial advisor Darcy Bergen recently explained many individual investors are shy to admit they don’t fully understand what the term means.

“Many people know that an Individual Retirement Account (IRA) is used for retirement,” Darcy Bergen said. “But they don’t know there are different types of IRAs, and some can work better for certain individuals than others.”

Bergen first explained that there are two types of commonly used IRAs. These include the Roth IRA and the Traditional IRA. Both are used as avenues to save money for retirement but contribution limits, taxes, and penalty fees can be very different. The major distinguishing factor between the two is that a Traditional IRA allows the investor to put pre-tax income toward the investment, so it can accumulate tax-deferred. The investor may end up paying a lower tax rate when taking the money out of the Traditional IRA than if they paid taxes when putting it in.

“Another major difference between the two is that the Roth IRA allows a person to continue contributing to the account after the age of 70.5,” Darcy Bergen said. “A Traditional IRA does not allow that. Roth IRA contributions can not be deducted from taxes, but they are free of taxes and penalties once the person reaches the age of 59.5.”

Darcy Bergen explained that the difficulty in choosing between the two is that a person cannot predict the future. An investor may choose a Roth IRA, because they expect to be in a higher tax bracket in the future. Their contributions to the Roth IRA are taxed, but capital gains are not taxed as the account grows. A person who is willing to pay taxes now and enjoy tax-free withdrawals in retirement may prefer a Roth IRA.

An investor may choose a Traditional IRA if they expect to find themselves in a lower tax bracket in retirement. The money they were able to save through the IRA could then be taxed at a lower rate. 

“Choosing between a Roth IRA and a Traditional IRA can be difficult, and it’s best to consult with a financial advisor before making a decision,” Dary Bergen said. “This person can help you determine which option will be best in relation to your current income and your expected retirement income.”

Darcy Bergen entered the investment business at the age of 24. He became a fiduciary in 2015 and started Clear Solutions LLC, DBA Bergen Financial Group in 2003. He was named one of the top 20 advisors in sales with the Midland National Life Annuity Division for five consecutive years. He is now completing a book on retirement investing. 

The Bergen Financial Group in Peoria, Arizona is an excellent source for information on retirement investing. This team has all of the expertise required to help you make the decision between investing in a Traditional IRA, a Roth IRA, or other options. 

“The most important part is that you start preparing for retirement now,” Bergen said. “The sooner you begin, the sooner you begin seeing the benefits. I urge investors as young as those in their 30s to begin planning for the retirement years. Together, we can create investment solutions that can greatly improve a person’s quality of life now and in the future.”

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.

Gold Safe Exchange Discusses How to Add Precious Metals to a Rock Solid Portfolio

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You can buy and hold gold to diversify your assets in any economy. Learn several ways to add precious metals to your portfolio, courtesy of industry leaders at Gold Safe Exchange.

In an uncertain economy and rising inflation, it’s important to diversify your saving strategies. As noted by the Gold Safe Exchange website, gold has outperformed the Dow Jones Industrial Average for over a decade. There are several reasons it makes sense to purchase and hold precious metals, including the following.

Owning Precious Metals

“Precious metals like gold are an asset you can expect to maintain or increase in value over time when looking back at 20+ year historical averages,” according to representatives at Gold Safe Exchange. People buy gold because it holds its value and typically increases in value over time.

Gold and silver “stackers” aim to collect as much of these precious metals as possible. This could include bars, rounds and coins. “Stackers” look for precious metals in any form and seek out bargains. Products meant to be stacked include bullion coins such as the Gold Canadian Maple Leaf, Gold American Buffalo, Gold American Eagle, and Gold South African Krugerrand.

Collect Precious Metals

You can also purchase collectible items made of precious metals. Rounds, coins and bars also fall into this category. Collectible coins worth more than their weight include dimes and quarters made before 1965, which consist of 90% silver. Other examples include Morgan and Peace silver dollars and Saint-Gaudens double eagles $20 gold coins. Since collectibles are more valuable than less popular coins, you don’t have to buy as many to grow your wealth.

Gold and silver can be an excellent hedge against inflation.

“Thousands of our clients buy gold and silver to provide protection against the decreasing value of the dollar,” Gold Safe Exchange officials noted.

You can also collect bars and rounds. Many people pay well above spot prices to own particular rounds and bars. Plus, you have the added advantage that even if they become less popular, gold and silver collectibles retain the intrinsic value of their underlying metals. The same is not true of cars, toys, and popular culture collectibles.

Gold Safe Exchange Provides Wealth Diversification

“Markets are cyclical, and history repeats itself. The 2008 crash cut the wealth of most Americans in half,” according to Gold Safe Exchange advisors.

Most fiduciaries who want to maintain credible reputations advise clients to put their accumulated wealth into different baskets. How much gold or silver should your assets contain? This allocation depends on your risk tolerance. You may want to put at least 5% to 10% of your savings into precious metals to offset stocks, exchange-traded funds, and bonds, which are susceptible to volatile fluctuations.

You can even diversify within precious metals, including palladium and platinum, as well as gold and silver bullion, for example.

Stock Precious Metals for Retirement

Did you know that you can include precious metals in your Individual Retirement Account (IRA)? Self-directed, precious metal IRAs can provide a tax shelter. Check with Gold Safe Exchange to learn more about how to open a precious metal IRA. It’s typically pretty easy to get started by opening and funding an account then purchasing precious metals.

Precious metals act as a financial safety net for individuals looking for liquidity and stable value over a long time. Gold and silver bullion, bars and coins, including collectibles, present one option for including these assets in your wealth management plan. You can also include precious metals in your self-directed IRA. So, consider holding these assets as part of your overall personal financial strategy.