Tips to Help Seniors Protect Their Finances


Darcy Bergen

Darcy Bergen is the founder and president of Bergen Financial Group in Peoria, Arizona. With Darcy Bergen at the helm, Bergen Financial Group puts clients first and assists them with financial planning for retirement.

The FDIC offers these tips to help seniors protect their finances:

* Develop a spending plan, including ways to limit expenses. Consider new ways to cut costs.

* Think about turning a hobby into a moneymaker. For example, those who craft could consider selling items at craft fairs.

* Organize and protect important documents. Papers such as Social Security records, insurance policies, and brokerage statements should be kept in a secure place at home. Papers that aren’t accessed often can be put into a safe deposit box.

* Consult a financial expert who can answer questions such as how much money is needed to live on and how much should be invested.

Darcy Bergen: Tips for Saving During Retirement

Saving During Retirement pic
Saving During Retirement

Darcy Bergen currently operates as the President of Clear Solutions for Seniors. Well aware of the financial hurdles that seniors face today, Darcy Bergen continues to advise and educate on wealth transfer strategies, trusts, and safe money concepts, among other related topics. Some tips for saving during retirement include:

1. Check your cell phone plan and see if you qualify for a free plan, which is available in select states. Also consider removing a landline and just using a mobile phone to save money.

2. If you use Medicare, assistance programs through this organization can help to decrease prescription costs on a monthly basis.

3. Talk to a financial professional to learn how to leverage home equity to your advantage and remain independent.

4. Always take advantage of senior discounts, which are becoming more and more available at stores, centers, and online shops around the country. Many retailers offer deeper discounts on certain days of the week, and it never hurts to ask.

5. Look into decreasing property tax payouts with work-off programs and others specialized packages.