Minute Read

Case Study: Physician Nearing Retirement – Tax Rescue Before the Clock Ran Out

By 
Brett Tushingham
,
CFP®
|
By 
By Farther

📘 Case Study #3: Physician Nearing Retirement – Tax Rescue Before the Clock Ran Out
Client: Dr. James Carter (67)
Location: Raleigh, NC
Occupation: Physician (recently retired)

🧑‍⚕️ Profile: Dr. Carter recently retired from a high-income medical career and was focused on simplifying his finances and leaving a smart legacy.

💥 Before: High Income, No Roth, and RMDs Looming

🌤️ After: A Streamlined Plan with Major Tax Savings

🔍 The Problem: Big Accounts, No Exit Strategy

After years of successful practice, Dr. Carter had built over $3M in pre-tax retirement accounts—but no Roth savings. With retirement just a year away, he faced a flood of taxable RMDs and higher Medicare premiums in just a few years. He wanted to clean up his accounts and ensure his children wouldn’t face a heavy tax burden later.

“I was too busy working to think about taxes in retirement. Now it felt urgent—and overwhelming,” he admitted.

💡 The Strategy: Compress Taxes, Expand Legacy

  • Consolidated 401(k) and SEP IRA balances into a single IRA for efficiency
  • Began annual $150K Roth conversions, staying under the 24% bracket limit
  • Delayed Social Security to age 70 to maximize future benefit and control taxable income
  • Implemented trust and estate planning tools to protect and streamline the legacy

✅ The Results: Efficiency and Peace of Mind

  • Reduced projected RMDs by over 40%
  • Saved an estimated $220,000 in lifetime taxes
  • Avoided future IRMAA surcharges
  • Created a Roth-based legacy that’s simple, clean, and tax-efficient

🗣️ Client Review via Wealthtender
“Brett’s personalized attention and expertise with tax planning have given me peace of mind heading into retirement. I can’t thank him enough.”

💬 What Could a Tax-Smart Retirement Look Like for You?

You've seen how thoughtful planning helped others reduce taxes, avoid costly Medicare penalties, and leave a smarter legacy. Now it’s your turn. Let’s build a strategy that puts you in control — with more clarity, more confidence, and fewer surprises.

👉 Schedule Your Free Consultation

Brett Tushingham

,

Senior Vice President, Wealth Advisor

Together, we'll take your wealth farther

Our concierge team will connect you with the ideal advisor for your unique goals.

Our team will help you reach your unique goals. Tap the button to get in touch with us.

Our team will help you reach your unique goals. Tap the button to get in touch with us.