Retirement Planning for Plastic Surgeons: Secure Your Legacy With Intention

As a plastic surgeon, you’ve spent decades perfecting your craft, possibly building a thriving cosmetic practice, managing staff, and generating significant income along the way. But many high-income physicians fail to develop a retirement planning strategy that truly reflects their financial potential.

In this guide, we’ll walk through what effective retirement planning for plastic surgeons looks like—and how to structure a tax-efficient, wealth-preserving path toward financial independence.

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Why Retirement Planning Looks Different for Plastic Surgeons

Unlike many W2 physicians, plastic and cosmetic surgeons often run private practices, employ staff, and generate revenue from elective procedures. This creates both opportunity and complexity in long-term financial planning.

Common retirement planning challenges include:

• Inconsistent or seasonally driven income

• Delayed retirement savings due to practice investment

• High tax exposure eating into long-term gains

• No formal succession or exit strategy for the practice

How Much Should a Plastic Surgeon Save for Retirement?

While general advice suggests saving 15–20% of income, plastic surgeons earning $500K–$1M+ annually typically need a more aggressive and customized plan. Your strategy should reflect your lifestyle, business structure, taxes, and transition timeline.

Rule of thumb: Target $5–7 million+ in investable assets to sustain a $200K–$250K post-retirement lifestyle.

→ Start your retirement plan today at finance.plasticsurgeonplanning.com

Key Retirement Planning Strategies for Plastic Surgeons

1. Leverage Tax-Advantaged Retirement Accounts

• 401(k) + Profit Sharing Plan – up to $66,000/year (2025)

• Cash Balance Plan – allows $100K–$300K+ contributions depending on age

• Backdoor Roth IRA – for long-term, tax-free investment growth

2. Build a Practice Exit Plan
A cosmetic surgery practice is an asset. Don’t just close it—sell it.

• Estimate valuation with a qualified expert

• Identify ideal buyers (partners, PE firms, or competitors)

• Structure a tax-efficient transition and payout

3. Invest Beyond Retirement Accounts

• Taxable investment portfolios for high-growth opportunities

• Real estate (direct or REITs) for income diversification

• Private equity and niche alternatives via self-directed IRAs

4. Mitigate Risk with Smart Protection Strategies

• Malpractice tail coverage beyond retirement

• Disability and life insurance for your income and family

• Estate planning: living trusts, powers of attorney, advanced directives

→ Get expert help from a physician-focused retirement planner at finance.plasticsurgeonplanning.com

Frequently Asked Questions About Retirement Planning for Plastic Surgeons

1. What is the best retirement plan for plastic surgeons?
The best retirement plan for plastic surgeons often includes a 401(k) with profit sharing plus a cash balance plan. This structure allows high-income doctors to defer more than $200,000 annually while reducing current-year tax liability.

2. How much money do cosmetic surgeons need to retire?
Most plastic surgeons should aim for $5 to $7 million in investable assets to sustain a six-figure retirement lifestyle. The exact number depends on your expenses, healthcare needs, and whether you sell your practice.

3. When should a cosmetic surgeon start retirement planning?
Plastic surgeons should begin retirement planning by their early 40s, if not sooner. Early planning gives you more tax-sheltered options, greater compounding potential, and a smoother business exit when the time comes.

4. Can plastic surgeons sell their practice to fund retirement?
Yes. Selling your plastic surgery practice can be a key part of your retirement strategy. With proper valuation and buyer identification, it can provide a significant lump sum or ongoing income.

5. Do plastic surgeons need a financial advisor for retirement planning?
Absolutely. Working with a financial advisor who specializes in physicians or cosmetic surgeons ensures your plan addresses tax efficiency, investment growth, risk protection, and practice exit coordination.

Plan Early, Retire Smart

The earlier you map your retirement path, the more control you’ll have over how and when you exit the OR.

→ Start Designing Your Plan Now