Joe Anderson
ABOUT Joseph

As President of Pure Financial Advisors, Joe Anderson has led the company to achieve over $2 billion in assets under management and has grown their client base to over 2,160 in just ten years of the firm opening. When Joe began working with Pure Financial in 2008, they had almost no clients, negative revenue and no [...]

Alan Clopine

Alan Clopine is the CEO & CFO of Pure Financial Advisors. As CEO he currently leads Pure Financial Advisors along with our executive team. As CFO he is responsible for the financial operations of the company. Alan joined the firm about one year after it was established. At that time the company had less than [...]

Learn about the magic numbers when it comes to your retirement accounts (ages 59 ½ and 70 ½) and why these ages are so important to remember.


“When you look at a 401(k) plan, or IRA plan, you’ve got 59 ½ to 70 ½.  You can do anything that you want with the money. 

You can take it all out, you can keep it all in there, don’t do anything, whatever.  If you take it out prior to 59 ½ you’re going to be assessed a 10% penalty. 

Now, there’s one exception: if it comes out of a 401(k) plan, you can take that money out at age 55 as long as you’re separated from service. 

So on one side of the spectrum it’s 59 ½ for most, if you take it out prior to 59 ½ it’s a 10% penalty.  Now, on the other side you’ve got 70 ½. 

That is your required minimum distribution.  If you do not take a required minimum distribution, you are actually penalized. 

It’s actually one of the most harsh penalties the IRS will give you; it’s a 50% penalty. 

One exception to the RMD rule: if you are still working with your employer, you do not have to take that required minimum distribution until April 1st after you retire. 

So just a couple of different caveats with the magic numbers when it comes to your retirement accounts.”