Financial Planning for Doctors

The past few years have not been an easy road for medical professionals. According to a recent survey, more than 73% of physicians reported feeling overworked, and more than 30% reported that they are looking for another career or considering retiring early as a result.*

As a busy medical professional, you may not have a lot of free time to plan for your financial future, but that doesn’t mean you can’t reach your financial goals. Just as you would probably never recommend that your patients perform medical procedures on themselves, it may make more sense not to try to build your financial plan by yourself. This is where a licensed financial professional, with the skills and experience to expertly guide you through the process, comes in.

The planning process generally starts with a conversation about your values and your financial objectives. The goal is to clarify and prioritize your financial goals and help create a plan to reach them.

In the medical industry, you specifically may have access to saving and investing opportunities that others do not. For example, you may have access to a qualified plan like a 403(b), 401(k), or 457, that generally have much higher contribution limits and allow you to accumulate significantly more for retirement.

As a CFA charter holder specializing in working with doctors, I can offer full service financial advice targeted specifically to your needs as a medical professional. This could include retirement accounts, asset management, medical school loan payoff plans, debt payoff plans, disability insurance analysis, and more.

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2022 08 Dustin Henderson