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 [...]

You’ve been saving money for your entire career so you can enjoy your golden years. Do you know what happens to your 401(k) when you retire? Financial expert Joe Anderson and Alan Clopine break down the options as well as the pros and cons of the various options. The duo also explains how to avoid penalties that could take a significant amount of money out of your retirement savings. They also discuss what happens to your 401(k) once you pass away and what the options are for your loved ones.

401(k): What Happens When You Retire

Important Points:

(1:00) – 401(k) Participants and Plans

(3:20) – The Basics of 401(k)

(4:10) – 401(k) Matches

(5:46) – Roth Option

(7:38) – True or False? There are penalties if I roll my 401(k) to a Roth IRA before I’m age 59 1/2.

(10:45) – Countdown to Retirement

(11:59) – What happens to your 401(k) upon retirement?

(12:25) – Pros & Cons of Leaving your 401(k) with your Employer upon Retirement

(14:00) – Pros & Cons of Rolling your 401(k) to an IRA upon Retirement

(17:30) – 401(k) Penalties

(19:24) – True or False? At age 70½ I can no longer contribute to my Company’s 401(k).

(20:20) – Transferring your 401(k) or IRA to your loved ones upon your passing


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