THIS BOOK WAS WRITTEN WITH YOU IN MIND
While you’ve spent countless hours studying to reach the level of success or knowledge that you’re experiencing now, quite often the whole financial management of your money or practice/clinic hasn’t been taught at school.
Depending on where you stand in your journey, there are strategies that are relevant and designed to fit your current situation.
Residents can secure their health with a disability, critical illness and life insurance policies. Despite a smaller income during these years, there are temporary products that are very affordable and still offer some great conversion options down the road.
Young doctors are bombarded with things to set up, between their own professional corporation, to ensuring they’re probably protected (life, DI, CI), to figuring out the best way to start tackling the debt and getting established.
Mid-career doctors are more in a sort of routine, they probably have paid off these infamous student loans, have started investing money, building up some retained earnings in the corporation, looking at a bigger house and cars with the growing family… If not looked at yet, planning becomes very important at this stage as the income and the career are very stable.
Close to retirement doctors are looking at ways to efficiently take money out of the corporation so they can enjoy a comfortable retirement. The planning is crucial now to ensure that you’re not going to run out of money, or end up having to go back to work part time or full time to fund your lifestyle.