Craig Wear, CFP®Craig Wear, CFP® | Expert in Roth Conversions & Tax-Efficient Retirement Strategies for IRA Millionaires

$1.5M of Lifetime Tax Savings

28 Feb 2025 · 1 min

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Brief spoken case summary by Craig Wear, CFP® describing a client tax-planning outcome: the strategy reduced the client’s total lifetime taxes by a little over $1.5 million and specifically lowered taxes heirs would pay by $875,000. The snippet notes the client also had other taxable income sources (brokerage accounts) that contributed annual taxable income.

Questions this video answers

$875,000

A little over $1.5 million

Chapters

This client's case, it's going to save them $875,000 of taxes that their heirs are going to have to pay after they're gone. So keep in mind that they had other income and brokerage accounts that added taxable income each year. But let me give you kind of the summary of how this worked out for them. Their total tax over their lifetime, including all their income streams and everything, dropped by a little over $1.5 million over their lifetime, which also counts their heirs, their savings for their heirs. So if the heirs were going to save 800.