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
May 28, 2016

Joe and Al discuss a well-known trading adage, “sell in May and go away” to share whether this old saying is actually good advice. Then they dive into retirement planning sharing common IRA and Roth misconceptions and beneficiary blunders that could cost your family thousands.

2:26 “You can contribute up to $5,500 (to an IRA); if you’re over 50 you get a $1,000 catch-up so $6,500”

4:01 “If you’re in a low tax bracket you might not get that much benefit. You might as well do a Roth contribution so you forgo the tax benefit today but all future income, growth and principal are tax-free later. Here’s the caveat – you need earned income”

4:29 “Earned income has to be salary or positive profits from your self-employment business”

9:01 “If you don’t have an IRA already established and you try to do a direct rollover, you’re going to find yourself with some problems”

14:59 “Did you know that you can use your spouse’s earned income if you’re not working to do a Roth or IRA contribution?”

16:03 “A couple of other basics when it comes to the Roth: there is no required minimum distribution (RMD)”

23:08 “These are retirement accounts. They’re for retirement; they shouldn’t really be used for other things”

28:52 “We’re talking about IRAs, some mistakes you might be making with the overall retirement accounts; we talked about the basics – how much you can contribute, AGI limitations, penalties, RMDS. But one that people forget about is the beneficiary designation”

33:10 “We encourage our clients and I’ll encourage you guys as well to be looking at your beneficiary statements on all IRAs, 401(k)s, 403(b)s every few years; make sure they’re up to date”

36:16 “There is such thing as an IRA trust”