Physicians Financial Concierge
We understand the complexities physicians face, such as delayed earnings due to many years of education and high tax rates. Here are some of the ways we help busy medical professionals:
Coordinate Retirement Plans
- By analyzing the investment options available to you in retirement plans, potentially adding a Solo 401(k) if you have independent contractor income, and monitoring contribution limits, we help you to navigate the challenges involved in saving for retirement.
Loan Payoff Optimization
- We help you to analyze refinancing options, opportunities for debt forgiveness, and projections related to allocating available cash flow to debt versus retirement savings.
Business & 1099 Income
- We’ll help you to make after-tax comparisons of 1099 income versus traditional employment opportunities. We’ll also help you to navigate the complexities of selecting a business structure and entity, as well as formation and management of retirement plans.
- Mitigating the impact of income taxes is a key consideration for most physicians. We help you implement tax saving techniques such as tax-loss harvesting, tax-efficient asset location, establishing individual 401(k) and defined benefit plans for independent contractor income, and coordinating tax strategies with your accountant.
- We help you navigate complex insurance products such as disability, life, malpractice insurance and long-term, making sure that you have addressed the sources of risk to your financial success. We never receive commissions for the sale or recommendation of any financial or insurance products.
- We’ll analyze the range of outcomes based on your current income, savings rate, and anticipated expenses. Based on these inputs, we will model the likelihood of reaching your retirement goals, and recommend adjustments that will help to optimize your retirement savings.