In A Nutshell

The NP Family of 4: Can I Retire?
A nurse practitioner and her spouse come to Brett Fellows, CFP®, with $785,000 saved, two kids heading to college, and six years until their target retirement date. Where their money sits, how it gets taxed, and what happens to healthcare costs before Medicare are the decisions that will determine whether they retire comfortably or pay over $200,000 more than they should. Brett Fellows walks through the full plan.

James is 55 years old with $2.2 million saved and $240,000 in annual income. He has been asking himself the same question for two years: is this enough? The gut says yes. The fear says not yet. For many CRNAs in this position, the math is closer than they think. But the real risks hiding inside a retirement at 55 are not always obvious. Healthcare costs, a pre-tax account that becomes a tax liability at 73, and a psychological trap called One More Year Syndrome are what actually stand between a CRNA like James and the retirement he’s already earned.

For a CRNA couple retiring at age 60, a $2 million nest egg represents decades of discipline and sacrifice. However, the math of retirement is rarely as simple as the balance on a statement. Consider two couples: both have saved $2 million, and both spend $8,500 a month. Without a plan, one couple might run out of money at age 78, while the other leaves a $4 million legacy behind. The pivot point is comprehensive tax planning, not the stock market.

When considering a financial advisor, people typically focus only on the fee. They miss the true cost of not working with one: lost tax savings, the wrong asset allocation, and constant financial anxiety. These are the five reasons to consider working with an advisor and the next steps for CRNAs who are looking for financial clarity.

Are you a CRNA with a large 401(k) or 403(b)? Roth conversions are powerful, but converting too much could trigger massive, unexpected Medicare surcharges or push you into the 32% tax bracket. We detail the 5 most common mistakes and provide the strategic plan you need to save big on your retirement taxes.

Financial organization isn’t just about keeping your finances in order; it’s a proactive measure that can significantly improve your financial health.