Welcome to Our Blog About 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.
What is financial planning for physicians?
Personal financial planning is the process of determining how a doctor and his or her family can achieve their life goals through the proper management of financial resources. A comprehensive financial plan for a physician might include financial statements, insurance planning and review, debt management, employee benefits planning and analysis, investment planning, income tax planning, retirement planning, planning for college and estate planning, depending on the stage of the physician’s career.
Expert Financial Advice For Medical Professionals At All Career Stages
Physician Family Financial Advisors is 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.
PHYSICIAN RETIREMENT PLANNING
- Set a budget for retirement
- Make a fund to support parents, a disabled child or extended family
- Update estate plans (wills, trusts, etc.)
- Consider long term care insurance
- Consider advanced estate planning techniques and charitable giving plans