What would your retirement future look like if you could save major income tax every year? Most folks have no idea because they have never found a CPA or tax preparer that can do this. This article will cover two different scenarios: tax savings to help you retire early and how tax savings during your retirement years will make you happy.

I have spoken to medical and dental conventions and medicine is no longer fun, with decreasing payments from Medicare, Medicaid, and insurance companies; mountains of red tape; and increasing costs to provide medical services. The #1 goal of folks in the medical field is to retire 5-15+ years earlier. For dentists, the average retirement age is over 70, even if they are a specialist. If they want to get a much higher return from their stock market investments, they have to take much bigger risks. This also means they have a higher probability of losing big.

My solution is very simple and it revolves about big tax savings. If a couple has a successful doctor or dentist in the household, it’s not unusual that taxable income is at least $300,000. In 2025, the federal income tax would be $57,694 and AZ income tax would be $7,500, for a total of $65,194. If I can save them $55,000/year of income tax and average a 10% annual return, this will become $3,150,125 more in their retirement savings bucket. Assume that the client is 40 when we start and that at age 60, they can get a steady 8% cash flow on this fund. This will become an extra $252,010 of retirement income, on top of any other source of income from pensions or savings. In low-cost AZ, everyone should be able to retire early with this much extra retirement income.

I know that very few households have a doctor or dentist in it, but there are other families that have at least $150,000 of taxable income. This couple would owe $22,828 of federal income tax and $3,750 of AZ income tax, for a total of $26,578. If I saved them $25,000 of annual tax and earned 14%, in 15 years they would have an extra $1,096,060 of retirement savings. If they could receive a steady 8% cash flow, this would be an extra $87,685 of annual retirement income.

Next, let’s talk about folks who are already retired and only owe $10,000 to $15,000 of annual income tax. What if I could save you $10,000 of annual income tax? Surveys show that the #1 bucket list Americans have in retirement is more travel. If you had $10,000 more in your travel budget, you would be able to afford to visit your 3 kids and grandkids (living in 3 different cities) at least six times each year. What if you don’t want a lot of travel? How many rounds of golf could you play with an extra $10,000/year? Most folks don’t have hobbies that cost $10,000/year.

Conclusion: Come to the seminar and find out how clients have cut their federal income tax to $0 and recovered all federal tax paid in the last 3 years! One client recently received $291,000 recovery from the 2021 taxes paid.

Attend my Free Live Seminar on Weds. 6/18/2025, 6:30 - 8 pm at the Globe Room in the Pyle Adult Recreation Center 655 E. Southern Avenue Tempe, AZ 85282. This building is 50 yards NW of the main Tempe Public Library. The topic is “Tax Savings Allows You to Retire Early and Happy!” Snacks and soft drinks will be provided.

To RSVP for the seminars or schedule a free consultation, please contact Dr. Harold Wong at (480) 706-0177 or This email address is being protected from spambots. You need JavaScript enabled to view it.. His website is www.drharoldwong.com.

Dr. Wong earned his PhD in Economics at UC Berkeley in 1974 and passed the National CPA exam in 1979. He has appeared on over 400 TV/Radio programs.