ABOUT HOSTS

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 153 out of 715 RIA’s nationwide by total assets under management by [...]

Alan Clopine
ABOUT Alan

Alan Clopine is the CFO & Chairman of the Board of Pure Financial Advisors. He has been an executive leader of the Company for over a decade. As CFO he is responsible for the financial operations of the company as well as investor relations. Alan joined the firm in 2008, about one year after it [...]

Do you use rules of thumb to make decisions about how you will handle your money and save for the future? If so, do you know which ones you should ignore and which ones you should explore? Rules of thumb can be a quick and easy way to have a starting point for looking at your finances, but they should be used with caution. Some are simply outdated and others may not even apply to you or even worse, they could sabotage viable financial plans for retirement. From buying in the dips to the 80% rule, financial professionals Joe Anderson and Alan Clopine discuss the rule of thumb that you should ignore and which ones you should explore.

 

Important Points:
(01:10) – Where do you get your financial advice

(02:40) – You need $1,000,000 to retire

(04:56) – 80% Spending Rule

(06:25) – Save 10% of Your Income for Shortfall

(09:44) – Age Minus 100 to determine percent of stocks in portfolio

(11:47) – Buy when the stock market dips

(14:00) – Rule of 25x: Determine how much money you need saved for retirement

(15:27) – 4% Rule: Determine how much money you need saved for retirement

(17:50) – Rule of 72: Divide rate of return by 72 to determine when lump sum doubles

(20:00) – Joe Anderson’s Rules of Thumb

(21:10) – Ask the Experts

(23:29) – Pure Takeaway

  • Know Rules of Thumb to Ignore and Explore
  • Understand Financial Needs In Retirement
  • Get a Personalized Financial Plan
  • Control What You Can Control

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