ABOUT HOSTS

Joe Anderson
ABOUT Joseph

As President of Pure Financial Advisors, Joe Anderson has led the company to achieve over $2 billion in assets under management and has grown their client base to over 2,160 in just ten years of the firm opening. When Joe began working with Pure Financial in 2008, they had almost no clients, negative revenue and no [...]

Alan Clopine
ABOUT Alan

Alan Clopine is the CEO & CFO of Pure Financial Advisors. As CEO he currently leads Pure Financial Advisors along with our executive team. As CFO he is responsible for the financial operations of the company. Alan joined the firm about one year after it was established. At that time the company had less than [...]

Published On
February 28, 2015

President Barack Obama is making a push to change the financial industry by pushing a higher fiduciary standard for brokers giving advice on retirement accounts. Joe and Al discuss Obama’s latest headlines on fiduciaries and explain why it’s important for advisors to hold a fiduciary standard, always putting their client ahead of their own.

Later in the topic shifts to planning for retirement. Tune in to learn how to generate a retirement income by using proper retirement withdrawal strategies, find out how to reduce taxes in retirement and learn when you’re obligated to take a required minimum distribution. It’s all right here on Your Money, Your WealthSM.


1:48 “Only around 20% of the entire [financial] industry is fee-only. About 75-80% are commission and fee so they’re wearing dual hats and there’s a lot of conflicts there. They’re trying to change it, but we’ll see what happens. It may take a long time because…”

5:22 “Withdrawing money from your retirement accounts is not a simple matter.”

6:58 “A retirement plan isn’t about achieving some magic number. It’s not about one thing, one product – it’s about many things working together”

15:30 “We want to get into retirement withdrawal strategies…”

17:11 “First thing’s first you want to figure out is where is the money held? And then the tax component of this is a very missed step in the overall process”

17:30 “So here’s the thing, at 70 1/2 is when you’re required to take money out of your IRAs your 401(k)s.”

20:59 “So really the smarter approach, instead of just spending down all your cash and just not doing anything. Joe as you said is let’s start chipping away at this IRA, this 401(k). Let’s start transferring some of that to what’s called a Roth IRA.