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
July 11, 2015

Joe and Al go over six retirement surprises that could ultimately wreck everything you worked hard for. Find out how to be prepared for these retirement surprises and what to do if they come your way. The two also review the years 1974, 1980 and today to evaluate when retirees were better off. How has retirement changed over the years? Find out in this podcast of “Your Money, Your Wealth.”

3:39 “Was it easier to retire back in 1974 or do you think it’s easier to retire today?”

6:25 “Nest eggs were a lot larger in 2013 than they were in 1974”

6:33 “Social Security benefits: back in 1974 versus today, Social Security increases with inflation each year, so the amount of money someone gets from Social Security today versus 1974 with inflation adjusted is actually a lot higher”

12:41 “A lot of surprises happen in retirement; Market Watch’s Robert Paul came out with this article called “Don’t Let These Six Surprises Wreck Your Retirement”

13:04 “What are the six [retirement] surprises that can wreck your retirement? The first one is: living within one’s means really works”

13:27 “A lot of people think financial independence has to do with a dollar figure you have in your bank account. Financial independence is when your retirement income covers your expenses”

18:56 “When you tap your retirement nest egg, it comes with all sorts of new rules and opportunities. Instead of contributing to tax-deferred plans that reduce your taxes, you start tapping those savings for income”

22:59 “People may have a well thought-out game plan, but life usually gets in the way”

26:46 “We hear this all the time: you’re only going to spend 80%, 75%, 60%, whatever. That’s really not a good way to figure this out, because this is talking about gross pay. What you do instead is look at your net pay; that’s the realistic number”

27:43 “I would say a lot of you are driving somewhere where you’re going to spend money because it’s Saturday. When you’re retired, it’s Saturday every day”

29:22 “As you near retirement, I would honestly tell you that tax planning becomes more important than ever”

35:11 “Half of people right now are at risk of being unable to maintain their standard of living in retirement”

37:36 “The average price of a typical non-profit hospital room in 2013 was $2,157 a day..the average price back in 1980 was $127 per day.”