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 [...]

In this episode of “Your Money, Your Wealth,” CFP® Joe Anderson and CPA Alan Clopine discuss four hidden risks that could potentially derail your retirement. Supporting the kids after college, medical expenses and inflation are some risks that can get in your  way of living the retirement of your dreams. Tune in to this episode to learn how to prepare for the risks that retirement throws your way. CFP® and Senior Financial Advisor at Pure Financial, Jack Dugan, stops by the show to discuss rising healthcare costs and long-term care.

1:21 “If you are still taking care of your grown children [taking care of their car insurance, paying their cell phone bills], you are pushing off your retirement.  Just these little expenses go a long away, so you want to make sure that you take care of yourself first”

5:56 “When you start taking distributions from your overall portfolio, it has everything to do with the sequence of returns, not necessarily the overall rate of returns”

7:18 “We’ve had a really good bull market, and as people are transitioning into retirement, as we all know what happened in 2008, it jeopardized a lot of retirements”

9:24 “Did you know that most employers will match a portion or percentage of your 401(k)?”

11:25 “The average 65-year old married couple over their lifetime will spend an estimated $220,000 for medical care as well as insurance” (Source: Fidelity)

12:54 Interview with Jack Dugan, CFP® begins

13:48 “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”

15:54 “When you’re looking at insurance now, the cost has become extremely expensive”

16:37 “A 55-year old couple will probably cost about $10,000 to have a minimum coverage of $150 a day”

20:32 “If you are investing in stocks and bonds without real estate or without other alternative investments, you’re going to need some stock market exposure, otherwise you’re never going to have enough saved, you’re not going to keep up with inflation and you’re not going to reach those retirement goals”

22:19 “You’ve got to go to your tax return, you’ve got to figure out what your tax bracket is, look at line 43 on your tax return.  That will tell you your taxable income and then look at the tax tables to figure out what tax bracket you’re in”

24:13 “There are different laws and rules when it comes to required distributions, so consolidation makes sense in most cases”