As a physician, you should be justifiably proud of yourself. After years of debt, apprenticeship, and little sleep, your sacrifices are paying off: 95 percent of the 1,000,000 U.S. physicians and surgeons earn over $250,000 a year.
Yet with these rewards come some hard realities. You may earn a lot, but you also are forced to pay more in taxes, receive little or no financial aid for your children’s college educations, and have fewer years for your retirement money to compound. In addition, you may still be paying off student loans that average $100,000 to $135,000.
BeamaLife specialists work closely with physicians, dentists, and other PC companies, especially ones who run their own practices. Financial planning for physicians is a highly specialized skill. Together, we can address:
- Asset protection: Four in 10 physicians are sued for malpractice sometime during their working lives.
- Tax planning: Careful tax planning can help you maximize wealth and keep more of what’s rightfully yours. We will work with you CPA or accountant to set up retirement and pension plan to minimize your income taxes. We can help you save in your income tax up to $250,000 per year.
- Retirement planning: Most physicians do not take part in a pension plan. It’s important to bulk up savings and to pay down student loan debt to create a solid retirement.
- From large insurance umbrella liability policies to trust creation, we can help protect you from litigants and creditors.
- Insurance planning: The most important asset you have is your potential earning power. We can help you protect that power with long-term disability, long-term care, and life insurance.
BeamaLife can work with you to help you create and preserve wealth with asset protection, retirement planning and insurance. Please call one of our specialists at financial planning for physicians at (877) 972-3262 or complete short “No Obligation” information request form now.