Readying for an Early Retirement

Case Study – Medical Practice

Being able to enjoy the fruits of a successful career with an early retirement requires making and sticking to a strategic plan.

One couple we worked with, a husband and wife who are both doctors and own a medical practice, decided to make progress toward this goal by starting a basic retirement plan over 10 years ago.

Five years later, we stepped it up by expanding their retirement plan to defer greater amounts of money, primarily allocated to them. This change allowed the couple to defer income taxes on contributions totaling over $227K per year, with 85 percent of the contributions allocated into their personal investments.

Recently, we employed a planning technique known as a micro-captive insurance company that created a structure that provides lawsuit protection for their practice as well as significant wealth building and tax benefits both today and in the future.

Together, we’ve crafted a retirement income plan that will provide in excess of 130 percent of the anticipated retirement income needed at age 58. With these smart moves, retirement is starting to look a lot brighter for this couple.