Retirement Planning For Physicians
For many individuals, retirement planning will involve a mix of assets and accounts, such as employee-sponsored plans like 401(k)s or IRAs, along with investments and cash value products. Physicians—especially at the small practice level– often don’t have access to tax-favored plans and other typical retirement platforms, and because of debt, higher tax brackets, and other costs, a physician’s earning power can be delayed ten or even fifteen years. This late start to saving and investing is a challenge that other careers don’t face.
Retirement planning for physicians generally focuses on strategies, products, and accounts that make up for this savings gap. The earlier you can explore retirement planning, the better off you will be when it comes time to hang up the stethoscope and enjoy your golden years.
Having worked with many physicians and physician groups, Cambridge Financial is adept at handling your retirement needs and establishing a sustainable plan that accounts for your very unique situation.
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