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

The inventor of the 401(k) says he created a ‘monster.’ Could we see the end of the 401(k) as we know it? What about pensions? More and more employers have been quietly replacing pensions with other alternatives. Joe and Al discuss the future of retirement planning while sharing insight on what you should be doing now for your retirement.

3:53 “You can put $18,000 into a 401(k) [each year] and once you hit 50 you can put $24,000 [each year] and then the employer’s usually have some sort of match”

7:18 “The good news is that 401(k) plans, especially the larger ones have significantly lowered their fees”

9:38 “I would much rather pay a bunch of fees and costs to have the 401(k) to get the deduction or potentially the Roth 401(k) to have my money grow tax-free…versus not having the plan at all”

12:53 “There’s a lot more convoluted legalities to this (self-directed IRA); we’ll just talk high-level pros and cons”

17:40 “As a CPA for over 40 years, it does amaze me how many people fail to get the message about tax planning until they make a mistake”

22:38 “If you are divorced, can you collect a benefit based upon your ex-spouse’s earning history?”

33:17 “We’re giving you a workaround (for making a budget), which is pay yourself first and spend the difference. If you don’t pay yourself first…you’ll find a way to spend it”

33:56 “You do need to do a little bit of planning to figure out how much you can spend each month, and then have that come out as an automatic withdrawal from your spending account so you don’t spend any more than that”

35:27 “Taxes don’t stop when your paycheck does”