Joe Anderson, CFP® and Big Al Clopine, CPA recap recent Brexit headlines and take a look at how the markets have reacted. Plus, is the US in a retirement crisis? If so, how can it be solved and what can you do to achieve your financial independence?
00:00 – Intro
02:17 – “If you think about the market, in one particular day it might go up, and the next day it could go down. So-called experts quote the same things…”
06:09 – “When markets go down, what you want to do is be more strategic. You want to look at tax-loss harvesting and rebalancing the overall portfolio. [It’s a better time to do] Roth IRA conversions or distributions.”
08:26 – “Achieving financial independence only comes from having a thoughtful and comprehensive financial plan. The sooner you create that plan, the sooner the independence will come.”
19:39 – “When markets go down, people stop investing which is the worst thing you can do.”
20:15 – “Invest regularly and periodically, like through your 401(k) for example. It’s the ‘pay yourself first’ concept.”
22:50 – “You have to make sure that you take a look at your current portfolio and make sure you understand the risks that you’re taking in your overall portfolio.”
27:41 – “It’s not about saving ‘x’ amount of money, it’s not about the next hot stock or some one-size-fits-all product, it’s a comprehensive plan that tackles risk, income, taxes, Social Security, healthcare and so much more.”
31:37 – “Many retirees underestimate future living expenses.”
35:37 – “When it comes to planning for retirement, what you have now versus what you’ll actually need are two totally different things.”
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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.
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• 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.
