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
August 27, 2016

Did you know there are strategies you can use to reduce your required minimum distributions (RMDs) from your individual retirement account? Find out six ways to do this so you can keep more of your hard-earned money.

1:45 “Once you turn 70 ½, you have to start pulling money out of an IRA (individual retirement account). If you are 70 ½ and still working, and own less than 5% of the company, you can delay your required minimum distribution until you retire.”

4:13 “Once you turn 59 ½ you can withdraw money from your tax-deferred accounts without paying a 10% penalty.”

6:54 “A lot of people don’t realize that you can do these Roth conversions even before 59 ½. You could be any age and do a conversion.”

10:45 “This is a valid way to reduce your RMDs – invest in a QLAC (quality longevity annuity contract).”

12:20 “You can invest in your IRA up to 20% of your IRA or 401(k) or $125,000 – whichever is less.”

13:04 “Another way to lower your RMDs is to use tax-deferred accounts for bonds and bond funds, and use taxable accounts for stocks and stock funds.”

16:30 “If you invest in stocks outside of your retirement accounts and you hold a stock or stock mutual fund for at least a year and you sell it, it’s subject to a special long-term capital gain rate.”

23:38 “(Another option is to) donate your required minimum distributions.”

29:42 “A lot of men and women are living into their nineties and hundreds…if you haven’t really thought this through, it sort of messes up your retirement plan.”

32:30 “If we’re living a lot longer, how do we adjust our retirement plans to be able to accommodate that?”

34:43 “The old rule used to be ‘save 10% of your income.’ A lot of advisors are now saying 15%, that’s what we say.”