Archive For: Retirement Planning

Long Term Care Planning for Physicians

In many ways, financial planning is a process designed to help investors deal with the inevitable messiness of life: unforeseen illness, sudden career shifts, unexpected windfalls, and all the difficult decisions that come with these changes. As we age, we all become more likely to develop health conditions that affect our independence, mobility, and quality ... Read More

Life Insurance for Retirement: The Right (and Wrong) Approach

In order to pursue a career in medicine, physicians make tremendous personal and financial sacrifices. With the average medical resident facing nearly $200,000 in debt, it is no wonder that most young physicians feel tremendous pressure to start earning quickly and establish financial independence. As many doctors are busy establishing their career, starting a family, ... Read More

The Pros and Cons of Retirement Protection Riders for Disability Policies

Traditionally, an individual disability insurance policy is designed to pay out benefits to replace lost income if a physician becomes too sick or injured to work in their specialty. When determining their ideal benefit amount, many physicians only take into account their most basic living expenses, such as bills, rent, and groceries. While it is ... Read More

What does the SECURE Act mean for physicians?

The new year is bringing major tax changes for some physicians, as the Setting Up Every Community for Retirement Enhancement (SECURE) Act takes effect. The SECURE Act was passed into law in December 2019 as part of the new government spending package, and it contains legislation intended to make retirement planning more accessible, simple, and ... Read More

The Ultimate Retirement Planning Checklist for New Physicians

A professional contract review is one of the most essential steps any doctor can take before accepting a new job offer. A physician’s employment contract is worth millions of dollars and typically contains financial complexities and legal nuances that even experienced doctors require a second opinion to evaluate. To fully assess how an employment offer ... Read More