Physicians & Their Families
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Financial Planning for Physicians
Physicians who are overwhelmed by “financial stuff” often realize that financial planning is something they’ll never really “get around to” and a few doctors—like you—go in search of help and land here. Welcome!
Financial planning for physicians is a specialized area of practice that requires an understanding of the unique financial challenges facing doctors today as well as a thorough understanding of each physician’s personal financial situation. You can do your "financial internship" here on the blog and contact us with questions if you need more help.
Professional Financial Advice For Medical Professionals At All Career Stages
We are here to help you take on the unique financial challenges you face as a healthcare professional, no matter where you are in your career in medicine. While financial planning is a lifetime process, certain financial solutions for doctors will become more urgent as you move through your career so start by checking out the topics that are right for you.
FINANCIAL PLANNING FOR RESIDENTS & FELLOWS
Consider public service loan forgiveness (PSLF) and begin debt repayment planning
Purchase disability insurance
Begin building an Emergency Fund
Begin investing for retirement with a Roth IRA or Roth 403b
FINANCIAL PLANNING FOR FIRST YEAR ATTENDING PHYSICIANS
Find a financial planner for doctors
Save for a down payment to buy a home
Get a handle on income taxes
Update disability insurance coverage
Purchase life insurance
Start learning about investments
PHYSICIAN RETIREMENT PLANNING
Set a budget for retirement
Make a fund to support parents, a disabled child or extended family
Consider long term care insurance
Consider advanced estate planning techniques and charitable giving plans
FINANCIAL PLANNING FOR MID-CAREER MEDICAL PRACTITIONERS
Keep expenses in check
Create a plan for retirement
Enroll in employer-sponsored retirement programs
Consider tax-advantaged and tax-exempt investments outside retirement plans
Set up college savings plans
Build or buy a home
Consider estate planning and asset protection strategies