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Original publish date February 27, 2016 (hour 1). Note that content may be outdated as rules and regulations have changed. In episode 5 of YMYW, Joe and Big Al discuss the financial planning landscape and why they chose to start Pure Financial. Big Al breaks down a few of the presidential candidates' tax plans. Plus, why women are better savers and investors than men.

00:00 - Intro

02:23 \u201cEveryone needs a financial plan. Everyone absolutely needs a financial strategy to make sure they know what they need to be doing\u201d

04:33 \u201cWe don\u2019t sell any products, there are no commissions generated to our firm\u201d

08:17 \u201cOur firm thinks it [the fiduciary rule] is a phenomenal thing, because we act as a fiduciary 100% of the time\u201d

12:22 \u201cWe want to protect you against unscrupulous sales practices and things like that because we know the industry; we\u2019re in the business and we see the good, bad, ugly all day every day\u201d

13:50 \u201cIn the tax realm, there are a lot of strategies he [Obama] wants to get rid of\u2026right now I think it\u2019s important to realize what some of those strategies are so if they do apply to you, that you make sure you take advantage of them while they\u2019re still here\u201d

14:28 \u201cYou can still do Roth IRA contributions for 2015 all the way up until April 15th of this year (2016)\u201d

22:03 \u201cTed Cruz wants to do a flat tax; he wants to do a 10% flat tax across the board\u2026who is that going to impact? It\u2019s going to impact the lower and middle class, while the wealthy will end up with a lot more money in their pockets\u201d

27:10 \u201cWhen you are married to a spouse who is making a lot of income, your self-employment income is pretty highly taxed, because you\u2019re already in the highest bracket and you\u2019ve got self-employment tax to boot\u201d

31:24 \u201cVanguard shows that women are the ones signing up for 401(k) plans and saving a larger piece of their salaries compared with their male counterparts\u201d