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 [...]

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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