Top Tier Wealth Management for Successful Physicians

Articles

Start Talking About Money. Now.

Be the guiding influence your children can trust.  Mike Sheffar, CLU, ChFC, CFP  It’s no secret that most families don’t like to talk about money. People will talk about almost anything else, but money is still mostly off-limits. Your children are going to learn about money from someone – maybe an out-ofcontrol pro athlete on…

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The History of Retirement: Retirement Planning for Physicians

By: Dave Somerville The concept of formal retirement was first developed in Germany in the 1880s. At the time, Chancellor Otto von Bismark was facing a number of problems, including a very unhappy labour force, a civil service and an army full of aging and unyielding bureaucrats. Von Bismark solved both problems with one solution,…

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From Chaos to Clarity: A Financial Prescription for Specialist Physicians

Key Takeaways: ·        The biggest challenge physicians face today is the lack of financial expertise and time required to best ensure financial independence on their own terms.  ·        Physicians are prime targets for financial advisors, many of whom are ill equipped to address physicians’ unique financial issues. ·        You need to be aware of the unique challenges you…

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From Resident to Physician: Smart Financial Moves for New Doctors

Key Takeaways: ·        Acknowledge that medical school doesn’t prepare you for managing your newfound income and assets. ·        Take a long-term view towards wealth preservation – and don’t rush into major purchases or self-rewards. ·        Find the right strategy for paying down student loans, selecting the right insurance and navigating the home buying process. ·        Don’t go it alone. Work…

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Wealth Accumulation & Enhancement: A Financial Prescription for Specialist Physicians

Key Takeaways: ·       Getting a later start on your career does not put you at a disadvantage as long as you have a plan. ·       Wealth management should be all inclusive – decisions shouldn’t be made in isolation from each other. ·       Seemingly small decisions can have big consequences – both good and bad. ·       Accumulating and preserving…

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Words from the Wise: 5 Easy Steps for Long Term Success

We choose to start working with physicians when they are in the first 5 years of their medical career because we feel we can have the biggest long-term effect on their financial health if we start working with them early on. There is no one prescription for every scenario, and young physicians often feel bogged…

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Striking the Right Balance: Financial Independence for Physicians

We all dream of a time where we no longer need to work to make money. But for physicians, because of circumstances that are unique to the field of medicine, the path to financial freedom can sometimes feel more like a thicket than a glade. But with the right partner, making work optional for physicians…

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Investing 101: An Introduction to Investing for Physicians

Key Takeaways: –         Investing is a key part of any overall financial plan. –         Your investment strategy should revolve around your goals and sensibilities. –         Holding a diversified portfolio can help you reduce risk while maintaining returns. –         Taxation plays an integral role in your investment decision making process. –         As a physician you have particular investment opportunities that can…

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