Who We Serve
Financial Planing for Mid-Career Physicians
Navigating New Financial Planning Hurdles & Opportunities for Mid-Career Physicians
Your student loans are out of the way (happy dance!), you may even officially be a homeowner, and perhaps family planning is full speed ahead...so, now what? At this phase for our docs, the story usually pivots to accumulation. That net worth chart starts to look like a hockey stick, and we start to question what's the next move and how to optimize (and protect) from here?
Does this sound like you?
Have you been an attending physician for the past 5-15 years?
If so, we can help you:
- Maximize your investments. We can organize all those investment buckets, including 403b, 457bs, Backdoor Roths, and other taxable accounts.
- Plan your taxes (better!) Tax planning takes on a much larger role during this period of your career as the focus shifts not only to income tax planning but towards portfolio builds for tax efficiency.
- Protect your assets. Here are some serious assets that start to grow right about now and we’ll help you safeguard them.
- Plan for the future. From funding the kiddo’s private school and summer camps, to planning for college and organizing estate documents and 529 plans, we got you!
Pricing
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Plan Creation with Ongoing
Planning & Investment
Management
One-Time Plan
Creation Only
Plan Name
Inpatient Planning
Outpatient Planning
One-time Plan Creation Fee
$3,000
$7,000
*For Medical Residents & Fellows, we offer a reduced flat-fee of $500 for your monthly subscription while in training.
Frequently Asked Questions
Mid-career physicians often have more assets and income than they did earlier in their careers, but they also have more competing financial priorities. Investment accounts, taxes, retirement savings, children's education, insurance, estate planning, and lifestyle decisions can all require attention at the same time.
As your wealth grows, it can become harder to see how your different investment accounts fit together. A mid-career investment strategy may involve coordinating 403(b)s, 457(b)s, Backdoor Roth IRAs, taxable accounts, and other investments while considering your risk tolerance, retirement goals, and tax situation.
Tax planning can become increasingly important as physician income and investment assets grow. Depending on your circumstances, strategies may include optimizing retirement contributions, using Roth accounts, managing taxable investments, planning charitable gifts, and structuring your portfolio with future tax consequences in mind.
Tax-efficient investing involves more than choosing investments with low tax costs. It can also involve deciding which assets belong in taxable versus tax-advantaged accounts, managing capital gains, coordinating retirement contributions, and considering how today's investment decisions could affect taxes in retirement.
There isn't a single savings target that applies to every physician. Your ideal savings rate depends on your income, current assets, age, expected retirement lifestyle, spending, and other financial goals. Mid-career is often a good time to evaluate whether your savings and investment strategy are keeping pace with the lifestyle you want later.
College savings need to fit alongside retirement and other financial priorities. A 529 plan can be one option for education funding, but how much to contribute depends on your children's ages, expected education costs, current assets, cash flow, and retirement goals. The key is to avoid sacrificing your own long-term financial security to fund future education expenses.
As income, investments, and other assets increase, your insurance and asset-protection needs may change as well. Physicians may need to revisit disability insurance, life insurance, umbrella liability coverage, and other forms of protection as their income, family responsibilities, and net worth evolve.
Estate planning becomes increasingly important as physicians accumulate wealth and their families grow. Reviewing wills, trusts, powers of attorney, healthcare documents, beneficiary designations, and 529 plans can help ensure that your assets and wishes are handled according to your intentions.