It’s that time of year again when we want to make sure our clients have checked off their financial to do lists for the year and have set themselves up for a prosperous 2026. Reach out to us if you still have items on your year-end checklist that need to be completed. Deadlines are coming up, so let us know as soon as possible if we can help complete your checklist.
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The Doctor’s Guide to Buying Disability Insurance
Most of the doctors that I meet with don’t jump for joy when I bring up the topic of insurance. This is understandable, as it’s one of the few items you pay for and hope to never use. In many ways, it’s simply a piece of paper with a promise, and that sounds as thrilling as watching paint dry. However, like a house, a financial plan needs a solid foundation, or life can get interesting in the worst kind of ways. The foundation of any financial plan is income and it’s vital that it doesn't go away. Protecting the specialized income you make as a doctor, is fundamental for developing a good wealth building strategy. This is done by putting in place a quality disability insurance policy. Let’s look at how to do this successfully.
Doctors, Here is Your 1st Quarter 2025: Benchmark Performance Update
The Importance of Benchmarking Doctors’ Compensation
By far a doctor’s largest asset is their income. However, often this asset is neglected. Your income is what allows you to realize wealth over time.
Let’s assume a doctor goes into practice at age 35 and retires at age 65. That provides them 30 years of earnings. To keep things simple, I’m showing numbers before adjusting for inflation, earnings growth, and taxes.