That can work well, depending on the amount of income you need every year, due to the progressive tax system. e.g. you earn $3M one year, but only need $170k a

That can work well, depending on the amount of income you need every year, due to the progressive tax system. e.g. you earn $3M one year, but only need $170k a year for the rest of your life. If you pay taxes now, you are hit at nearly 35% rate. If you defer the money to your future non-earning years, you'll only pay a ~25% rate on the income.