How Tax Planning Can Save You Tens of Thousands in Retirement

Are you a physician, practice owner, or high earner making $300k–$600k+ and approaching retirement? Strategic Roth conversions can save hundreds of thousands in taxes—or trigger massive IRMAA penalties if timed wrong. 📅 Schedule a complimentary wealth & tax strategy session: https://oreadwealth.com In this video, Scott Sturgeon, JD, CFP®, founder and senior wealth advisor at Oread Wealth Partners, breaks down advanced Roth IRA conversion strategies tailored for high-net-worth households preparing for retirement. 📌 In this video, we cover: 00:00 - Roth IRA Conversions for High Earners: The Core Strategy 00:00 - Why High Tax Bracket Earners Need Tax Diversification 00:00 - Sample Financial Plan Walkthrough ($575k Income Case Study) 00:00 - The Ideal "Gap Years": Converting Between Retirement & RMD Age 00:00 - IRMAA Traps: How Conversions Impact Medicare Part B & D 00:00 - Break-Even Timelines & Cash Requirements (Paying Tax Out-of-Pocket) 00:00 - Smart Moves: Using Market Downturns to Convert at a Discount 00:00 - Actionable Steps Before You Execute a Conversion 💡 Case Study Highlight: We walk through a hypothetical case study — "Joe and Jill," a fictional couple in their mid-50s earning $575,000/year — to illustrate how strategic IRA-to-Roth IRA conversions during early retirement can suppress future Required Minimum Distributions (RMDs) and generate significant lifetime tax savings. ⚠️ Critical Tradeoffs Discussed: We also cover the hidden landmines: IRMAA Medicare surcharges, multi-year break-even horizons, tax payment cash-on-hand requirements, and why high-earning medical professionals must plan conversions around tax bracket sunsets. ❓ Key Questions Answered in This Video: How do Roth conversions impact Medicare Part B and Part D IRMAA brackets? What is the ideal income gap window between retirement and RMD age (73/75)? Should high-net-worth physicians convert traditional IRA or 401(k) assets all at once or over multiple years? How do tax bracket su