Joe Anderson
ABOUT Joseph

As CEO and President, Joe Anderson has created a unique, ambitious business model utilizing advanced service, training, sales, and marketing strategies to grow Pure Financial Advisors into the trustworthy, client-focused company it is today. Pure Financial, a Registered Investment Advisor (RIA), was ranked 15 out of 100 top ETF Power Users by RIA channel (2023), was [...]

Alan Clopine

Alan Clopine is the Executive Chairman of Pure Financial Advisors, LLC (Pure). He has been an executive leader of the Company for over a decade, including CFO, CEO, and Chairman. Alan joined the firm in 2008, about one year after it was established. In his tenure at Pure, the firm has grown from approximately $50 [...]

Jack Dugan

Jack is a graduate of San Diego State University with a Master’s Degree concentrating in Personal Financial and Tax Planning. Jack has been named as one of San Diego’s Five Star Wealth Managers 9 times through 2010-2021*. His personal business experience has enabled him to assist executives and individuals with comprehensive financial planning that “makes [...]

Nowadays people are living a lot longer than before, which means most of us will need some type of long-term care at some point in our lives.  Joe Anderson sits down with Senior Financial Advisor and CFP® Jack Dugan to answer questions regarding the costs and requirements of long-term care.   Also, find out the pros and cons of long-term care insurance versus self-insuring.

0:53 “Unfortunately, the long-term care portion of the Affordable Care Act was one of the first things that was eliminated, so you are truly on your own”

1:00 “A lot of people think, ‘Well, I have Medicare, Medicare will take care of it.’  Well, not really.  You’re going to get around the first hundred days of skilled nursing care taken care of through Medicare, then you’re on your own”

1:44 “What causes someone to need long-term care or a long-term care stay?”

2:18 “The statistics now say that 40% of people who are in their 60’s will need some sort of long-term care activity in their lifetime”

3:00 “When you’re looking at insurance now, the cost has become extremely expensive”

3:42 “A 55-year old couple will probably cost about $10,000 to have a minimum coverage of $150 a day”

4:10 “If you’re thinking of trying to insure this, you’ve got to do it today, because it’s only going to get worse”

4:32 “I think that’s what we’re all going to have to do, is get into some sort of combination, because it’s very difficult for people to insure the full amount”