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

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
November 21, 2015

In this hour, find out how to set yourself up for success in retirement. Joe and Al cover IRA myths and misconceptions and common mistakes with your retirement accounts. They also discuss what the backdoor Roth IRA is and how to take advantage of it.

2:17 “Although average spending in retirement fell, a large percentage of households experienced higher spending following retirement” [Source: EBRI]

5:02 “A lot of you are going to spend more [in retirement] so are you prepared? Have you done the overall planning to make sure you have the capital you need?”

8:10 “There’s more to the IRA than meets the eye. How much should you covert to a Roth IRA? How will you withdraw the money to avoid taxes?”

10:16 “According to a recent article out of Forbes magazine, paying a stupid penalty here or not taking advantage of a loophole there could cost you thousands”

13:33 “You can mix and match—you can do part Roth, part regular IRA but the total of those two has to be equal to $5,500 or $6,500 if you’re married”

17:00 “You may be in a high enough tax bracket that you might just want to max out your 401(k) so you can get the tax deduction”

18:01 “It’s all about maintaining control to reduce your taxes throughout your lifetime. In our experience, in retirement you’ve got more control over taxes more than any time in your life because now you’re designing your own income stream; you’re not just at the mercy of your paycheck”

20:54 “All future growth in a Roth account is tax-free. Income is tax-free, the principal is tax-free, and get this—at 70 ½, you do not need to take a required minimum distribution. You could let it grow as long as you want”

24:42 “If everything is sitting in a retirement account, everything is subject to ordinary income”

27:36 “Once you get to a certain age, you are required by law to take a required minimum distribution”

29:08 “Every retirement accounts you have all need a separate required distribution…if you don’t do that, there is a 50% tax penalty on all distributions not taken”

31:04 “There’s no such thing as a joint retirement account; they’re always individual—it’s a separate property”