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
August 1, 2015

Joe and Al answer seven questions about the IRS that might shock you. How much control does the IRS really have over you? Find out if your so-called retirement number (how much you need to save to live a comfortable retirement) is the best measurement to guide your planning and why net unrealized appreciation is the investment strategy the government doesn’t want you to know about.

2:43 “Truth be told there’s a dirty little secret behind your so-called retirement number…today’s retirees and financial planning experts alike are coming to the realization that retiring successfully isn’t all about achieving some arbitrary number”

6:31 “In most cases in retirement, taxes will probably be one of your biggest expenses”

10:42 “A lot of people don’t even have a vague idea of what their number is, and what we’re talking about is how much do you need to save to be able to live your retirement comfortably”

12:38 “Experts tend to believe you’ll need between 70 and 85 percent of whatever income you had during your career in order to sustain the lifestyle you enjoyed prior to retiring”

16:08 “A lot of times, if you’re a saver, it’s very difficult for you to spend…the fear of running out of money is so powerful”

21:26 “If you have company stock in your company 401(k) plan, there’s a way for you to take that company stock out of the 401(k) plan and put it into a brokerage account. Then, when you sell that stock, you are going to be subject to capital gains rates versus ordinary income which could be hundreds of thousands of dollars of tax savings over your lifetime”

27:57 “Taxes don’t stop when your paycheck does; in fact tapping your retirement nest egg comes with all sorts of new rules and opportunities, and instead of contributing to tax-deferred plans that reduce your taxes, you’ll start tapping those savings for income and paying taxes at a regular rate, sometimes pretty high rates”

31:17 “What are the IRS’s rights? What can they do, what can’t they do and here are seven questions I’m going to ask you…”

31:32 “Can an IRS agent make you meet with him or her in person; can they make you do it? The answer is no—you can send a qualified agent”

33:58 “Can the IRS garnish your paycheck or bank account assets? The answer is yes, it happens all the time”

34:39 “Can the IRS put you in jail?”

37:43 “How are you going to generate income in retirement? How are you going to make sure it lasts, and how will you maintain that same lifestyle in retirement for 25 or 35 years?”