As a physician, your financial decisions and strategic plans will differ greatly from those in the non-medical field. Physicians have unique liability and risk management needs. In addition, doctors who have their own private practices also encounter challenges of small business owners. No matter your season of career, or life, we design strategic financial plans and invest in long-lasting relationships to serve you well today, and far into the future.
New Physicians – From the time you exit medical school, begin your residency program, and then continue to work toward your in-practice career, having a sound financial plan in place that looks to the future is critical. We take in the current state, but also look to the future when providing financial advice. You may be thinking about starting your own practice or becoming an associate, struggling with how to manage educational debt, starting a family, wanting to save for your children’s education or protecting your income. Maybe you are trying to figure out if you should pay more towards medical school loans or save more for retirement. We can help you think through each of these areas and more, developing strategic plans and providing sound advice, to help you comfortably navigate these important areas as you launch into new phases of life.
Mid-Career Physicians – You may have been practicing for a while now, and are extremely busy. You have been earning a substantial income for a few years, and may be thinking it is time to update your financial plan. But you are busy, and feel you may not have the time to commit to this effort. We understand the demands of physicians during this stage of your career, and can help you think through various circumstances, such as if a colleague buys into your practice, you need to pay for a child’s college tuition or a family member becomes disabled. Perhaps your disability, life and health insurance policies need to be updated. A physician’s needs are different during mid-career than the needs of others, with increased focus on asset protection, tax reduction and creating an estate plan. We have experience in providing sound, strategic advice to physicians as they transition through each phase.
Near Retirement Physicians – You may be thinking about phasing out of your practice or selling. This is a major decision that impacts your retirement and the lifestyle you desire. As you begin to prepare for this life transition, we can help in addressing important aspects of your retirement plan. We can discuss retirement income strategies, cash-flow management, lifestyle desires, legacy planning, multi-generational planning and wealth transfer, along with many other facets of wise strategic financial planning at this stage of life.