Nicole Newman
ABOUT Nicole

Attorney Nicole Y. Newman focuses on guiding her clients through the complicated and often confusing maze of balancing family protection, wealth preservation, and cherished family values in the planning process. Prior to opening her practice, Nicole was an associate at a Newport Beach firm that protected high-net worth families and their businesses through the design of sophisticated [...]


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
June 4, 2016

Joe and Al invite Nicole Newman, Attorney at Law on the show to discuss the most important estate planning mistakes people need to avoid. Later in the hour, they dive into Social Security, investments and taxes. Does your Social Security strategy line up with your retirement plan?


Important Points:

2:47 “We have seen Social Security benefits reach a million dollars [before]”

6:35 “When you get really good rates of return, there are risks involved no matter what the investment vehicle is”

8:40 “Cash flow is king when it comes to retirement. Do you have a strategy and plan in place to make sure that you can provide the income that you need?”
10:00 Start of interview with Nicole Newman

11:52 “What happens if you fail to plan for your death is that each state has their own back-up plan for you..”

12:59 “They tend to interchange the terms will and trust all the time…actually that’s mistake number two in my seminar”

13:39 “A will does NOT avoid probate…that’s a very common misconception”

14:18 “Here in California probate is very lengthy, so it usually takes about 12 to 18 months as long as there are no problems…if there are problems then it can turn into years very quickly; whereas other states’ probate can be very simple and very quick”

17:47 “We see this quite often, where we’ll see children from a prior marriage cut out simply because of the lack of planning…when you have a blended family you definitely want to have a living trust”

19:22 End of interview with Nicole Newman

24:41 “Each year that you wait after your full retirement age, Social Security will guarantee an 8% delayed credit to the benefit, plus you also get the cost of living benefit”

28:48 “In retirement you have more control [over your taxes] than any other time in your life”

36:29 “There are a lot of other things that you can do; you could push out your retirement a couple years or you could look at some tax planning strategies that will carry out your dollar a little longer…making sure you have the right portfolio set up to give you the income that you need”