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 [...]

Published On
September 17, 2016

Joe Anderson, CFP® and Big Al Clopine, CPA discuss a two-decade study on the character traits of America’s wealthy and uncover the lessons that can be learned from the millionaire next door, on episode 65 of the YMYW podcast. Original publish date September 17, 2016 (hour 1). Note that content may be outdated as rules and regulations have changed.

00:00 – Intro

06:41 – “Successful people often spend more time early in life focusing on bettering themselves which leads to higher income the remainder of their lives.”

06:50 – “We need to keep investing in ourselves all throughout our career – things are changing so rapidly that we have to stay ahead of the curve.”

13:23 – “The first check you write every single month should be to yourself – to your 401(k) or IRA. If you can automate it, all the better.”

16:12 – “If you’re thinking about saving money in taxes in retirement, having some of your dollars come out tax-free is key because that’s what is going to keep you out of higher brackets later.”

19:11 – “A lot of people don’t realize they can take control over their taxes and especially in retirement.”

22:00 – “If you’re not maxing out your 401(k) plans and Roth IRAs, you have to get there.”

24:52 – “A lot of you underestimate how much you are actually spending.”

31:11 – “The fee-only community is pretty small. The really good fee-only advisors have minimums of millions of dollars.”

32:07 – “Right now we have a tax system that starts at a lowest bracket of 10% and goes up to 39.6%. Hillary wants to keep that in place but an extra 4% if you have more than $5 million in income.”

32:30 – “Donald Trump wants to change the brackets to be 0%, 12%, 25% and 33%.”

34:35 – “Couple more things – for the alternative minimum tax, Donald Trump wants to eliminate it all together, and Hillary wants to expand it a little bit by having a 30% minimum rate for incomes over $1 million.”


Pure Financial Advisors is a registered investment advisor. This show does not intend to provide personalized investment advice through this broadcast and does not represent that the securities or services discussed are suitable for any investor. Investors are advised not to rely on any information contained in the broadcast in the process of making a full and informed investment decision.

• Investment Advisory and Financial Planning Services are offered through Pure Financial Advisors, LLC, a Registered Investment Advisor.

• Pure Financial Advisors LLC does not offer tax or legal advice. Consult with your tax advisor or attorney regarding specific situations.

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CFP® – The CERTIFIED FINANCIAL PLANNER™ certification is by the Certified Financial Planner Board of Standards, Inc. To attain the right to use the CFP® designation, an individual must satisfactorily fulfill education, experience and ethics requirements as well as pass a comprehensive exam. Thirty hours of continuing education is required every two years to maintain the designation.

AIF® – Accredited Investment Fiduciary designation is administered by the Center for Fiduciary Studies fi360. To receive the AIF Designation, an individual must meet prerequisite criteria, complete a training program, and pass a comprehensive examination. Six hours of continuing education is required annually to maintain the designation.

CPA – Certified Public Accountant is a license set by the American Institute of Certified Public Accountants and administered by the National Association of State Boards of Accountancy. Eligibility to sit for the Uniform CPA Exam is determined by individual State Boards of Accountancy. Typically, the requirement is a U.S. bachelor’s degree which includes a minimum number of qualifying credit hours in accounting and business administration with an additional one-year study. All CPA candidates must pass the Uniform CPA Examination to qualify for a CPA certificate and license (i.e., permit to practice) to practice public accounting. CPAs are required to take continuing education courses to renew their license, and most states require CPAs to complete an ethics course during every renewal period.