An awesome retirement is everyone’s dream. Planning for that awesome retirement? Not so much, at least for some. It’s hard to predict the future, and there’s so much choice available for you. My guest today, a returning guest, helps her clients work through their choices, and she’ll help us get started.
Alexis E. Gallati is the founder and Lead Tax Strategist at Cerebral Tax Advisors and Cerebral Wealth Academy, and she’s the author of the book Advanced Tax Planning for Medical Professionals. She has over 20 years of experience in high-level strategic tax planning and multi-state tax preparation, and she has trained at the highest level, holding two master’s degrees. Alexis grew up in a family of physicians and is married to a private practice physician. That’s why she understands how hard medical professionals work to get where they are and why she provides simple and accessible tax solutions tailored to busy physicians.
In this episode Carl White and Alexis Gallati discuss:
- How much you can contribute to a retirement plan
- Complexity and cost as reasons to choose an option
- The impact of having employees on your retirement plan choice
- The value of a backdoor Roth IRA.
Want to be a guest on PracticeCare?
Have an experience with a business issue you think others will benefit from? Come on PracticeCare and tell the world! Here’s the link where you can get the process started.
Connect with Alexis Gallati
Resources from Cerebral Tax Advisors: https://www.cerebraltaxadvisors.com/practicecare/
Cerebral Tax Advisors Facebook: https://www.facebook.com/cerebraltax
Cerebral Wealth Academy Facebook: https://www.facebook.com/cerebralwealthacademy YouTube: https://www.youtube.com/@cerebralwealthacademy
Personal LinkedIn: https://www.linkedin.com/in/alexis-gallati/
Connect with Carl White
Website: http://www.marketvisorygroup.com
Email: whitec@marketvisorygroup.com
Facebook: https://www.facebook.com/marketvisorygroup
YouTube: https://www.youtube.com/channel/UCD9BLCu_i2ezBj1ktUHVmig
LinkedIn: http://www.linkedin.com/in/healthcaremktg
[00:00] Introduction to PracticeCare with Carl White
[01:25] Guest Introduction: Alexis Galati
[02:43] Alexis Galati’s Background and Expertise
[05:35] Understanding Retirement Plan Contributions
[12:53] Popular Retirement Plan Options
[21:35] Understanding Pro Rata Rules
[22:56] Navigating SEP IRA and 401k Transfers
[23:27] Exploring Cash Balance Plans
[24:02] Defined Benefit Plans and Contributions
[25:55] Managing Cash Balance Plans with Employees
[32:10] Mega Backdoor Roth Strategy
[34:57] Retirement Planning Strategies
[39:14] Final Thoughts and Practical Advice