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 15 out of 100 top ETF Power Users by RIA channel (2023), was [...]

Alan Clopine
ABOUT Alan

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
February 13, 2016

Big Al tries to stump Joe with the financial literacy test that Forbes says 80% of participants failed.


03:08 “Just because the balance of your overall portfolio goes down, that doesn’t necessarily mean you lost money – that’s volatility; that is normal in any type of market cycle”

07:03 “Another thing you should be doing is tax loss harvesting, so you want to harvest some of the losses if you have down positions. Sell those and buy something similar to take those losses on your tax return”

08:05 “An article out of Forbes Magazine reveals that 81% of Americans failed a basic financial literacy test”

08:44 “Planning for your retirement can be scary, but when you think you know what you’re doing and you really don’t, the final outcome could be really scary”

12:22 “What’s interesting about this is a lot of folks who took the test were very confident in their abilities to retire successfully (yet 80% failed the test)”

20:59 “Which of the following types of long-term bonds typically have the highest yield? Triple A-rate corporate bonds, B-rated corporate bonds or treasury bonds?”

24:56 “Anything that comes out of a retirement account that you took a deduction for is going to be paid full ordinary income tax and the state of California tax”

26:11 “As a CPA I would honestly say, it’s been 30 years+ in the business and it does amaze me how many people fail to get the message about tax planning until they make a mistake that costs them thousands of dollars”

32:10 “There is an age limitation on IRAs, so after 70 ½ you can no longer contribute to an IRA, however if you’re over 70 ½ you can still contribute to your employer-sponsored plan”

34:06 “When do you want to do your Roth conversions? When the market is down!”

IMPORTANT DISCLOSURES:

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.

• Opinions expressed are not intended as investment advice or to predict future performance.

• Past performance does not guarantee future results.

• Investing involves risk including the potential loss of principal. No investment strategy can guarantee a profit or protect against loss in periods of declining values.

• All information is believed to be from reliable sources; however, we make no representation as to its completeness or accuracy.

• Intended for educational purposes only and are not intended as individualized advice or a guarantee that you will achieve a desired result. Before implementing any strategies discussed you should consult your tax and financial advisors.

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.