Financial Planning for Physicians

Financial planning is an organized process of identifying your goals, priorities, and resources, and using that information to develop and implement a strategy unique to achieving your goals. As a physician, your commitment to and investment in education, training, and career development may make it difficult to find the time to plan for your future. But at each stage, it’s important to optimize—through investment strategies and tax planning—the resources you have available to best meet your goals.

We find the process of creating a financial plan is often empowering and motivating to our clients. It can also provide you with the clarity needed to make important decisions. A financial planning consultation may be beneficial if you:

• Are uncertain as to which types of investment vehicles are best for you and/or how much should you be saving right now
• Are wondering if you should pay off medical school loans or save more for retirement
• Are interested in exploring ways to increase the tax efficiency of your investments
• Lack confidence in your insurance coverage or needs (e.g., professional, life, disability)
• Are concerned about your future and the adequacy of your retirement savings
• Want to know if a Roth conversion makes sense for you and, if so, when you should you do it
• Are looking for ways you can you protect your practice
• Are searching for investment choices in addition to your typical stocks and bonds

By nature, a financial plan must be dynamic and ongoing adjustments must be made. The physician’s journey is long, and circumstances change. By investing in a long-term relationship, maintaining open communication, and reviewing your plan regularly, we’re able to proactively suggest adjustments to your portfolio and strategies in order to ensure you’re always in the best position to not only reach your goals, but also to feel secure in focusing on your passion.

We’re confident our combination of highly personalized service, unbiased advice, and robust planning software provides our clients with clarity in a process that will encompass a lifetime and often has many moving parts.