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Financial Aspects for Physicians

Doctors Financial Planning, Physicians Financial Planning, Dentists Financial Planning, Financial Planners, Financial Advisor, Financial Consultant

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Financial Aspects for Physicians

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  1. Financial Aspects for Physicians Though physicians start earning little late, their high income flow turns them splurging into life style goods and services. Financial institutions very generously extend loan at competitive rates (!) to doctors and dump every possible schemes to make a killing. Your gross income is not same as earning and earning not same as your wealth. If you are just living high and spend all your good income, you are not going to wealthier. Wealth can only be measured in terms of Net-worth (Assets-Liabilities). Good News is that you can get hold of your finances by financial planning for medical professionals. Identifying right planner is the first and foremost task. There are number of sales people out, to deceive you with the generic name called financial planner/ financial consultant/Investment advisor and similar meaning words. In India only SEBI registered investment Advisor (RiA) only can give holistic advisory. Ask for the credential and verify before proceeding further. Comprehensive Physician financial advisor with; Cash Flow, Investments, Insurance, Assets & Liabilities, Needs & Goals, Tax optimization and Estate Planning. You can choose to opt of limited planning/advisory as per your need. Sharing personal and confidential data to planner is big concern. Plan output purely depends on given data. RiAs are Fiduciary (legally liable to act on your interest). Financial Planning for Physician are little different than most. Self-practitioner is like a business owner. Physicians are exposed to unique liability. Doctors are bombarded with allied business opportunities and loan offers. Cash Flow has to be channelized well to take care of future financial needs. Physicians are quick to create goodwill. They can realize the long nurtured customer base into a financially acceptable retirement options. It’s best to deal with fee-only , fiduciary financial planner. Wealth Traits Financial Planners, No. 9, Maven Projects Centre, Dr. Thirumoorthy Nagar 3rd Sreet, Nungambakkam, Chennai - 600 034. +91 90030 55599, +91 94455 18009 info@wealthtraits.com / www.wealthtraits.com

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