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 Note that content may be outdated as rules and regulations have changed.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 "Everyone needs a financial plan. Everyone absolutely needs a financial strategy to make sure they know what they need to be doing" 04:33 "We don't sell any products, there are no commissions generated to our firm" 08:17 "Our firm thinks it [the fiduciary rule] is a phenomenal thing, because we act as a fiduciary 100% of the time" 12:22 "We want to protect you against unscrupulous sales practices and things like that because we know the industry; we're in the business and we see the good, bad, ugly all day every day" 13:50 "In the tax realm, there are a lot of strategies he [Obama] wants to get rid of…right now I think it's 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're still here" 14:28 "You can still do Roth IRA contributions for 2015 all the way up until April 15th of this year (2016)" 22:03 "Ted Cruz wants to do a flat tax; he wants to do a 10% flat tax across the board…who is that going to impact? It's going to impact the lower and middle class, while the wealthy will end up with a lot more money in their pockets" 27:10 "When you are married to a spouse who is making a lot of income, your self-employment income is pretty highly taxed, because you're already in the highest bracket and you've got self-employment tax to boot" 31:24 "Vanguard 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"