Financial Planning for Physicians

Financial Management to Grow with Your Medical Practice

As a physician, your financial needs change as your practice grows. Whether you are setting up your first practice after medical school, in mid-career planning for retirement or transitioning from a successful medical career into retirement, you have unique financial needs. At Windward Wealth Strategies, we understand that financial planning for physicians must evolve over a doctor’s career. We likewise understand that you are looking for a partner who understands the time constraints A Windward Wealth advisor can help guide physicians as their financial needs and medical practices change.


Financial Planning for Doctors that Evolves with Your Medical Career

Financial management for physicians is a dynamic discipline. The money issues of a doctor fresh from residency are different from those of a doctor nearing retirement. Physicians have unique risk management and liability needs. What’s more, doctors who run their own private practices face money challenges similar to those of small business owners.

As a doctor, you know the value of an expert opinion. Use Windward Wealth Strategies’ expert insight to help your finances achieve a clean bill of health.


Financial Planning for Doctors: Wealth Creation

Financial planning for physicians who are early in their careers centers on growing wealth and paying off medical school debt. A Windward advisor can help you establish a long-term money plan and good financial management habits.

Following are a few of the unique money challenges faced by young doctors:

  • Delayed career start: Many physicians don’t finish their schooling until their early 30s. Professionals in other disciplines often have a decade of income by that age. This delayed start affects retirement savings.
  • Massive debt: Recent medical school graduates report an average debt of more than $170,000. Getting rid of that debt becomes a large part of financial management for many years.

When it comes to financial management, Windward advisors consider the present state and desired future state of early-career physicians. Good decisions you make now are an investment in your financial well-being down the road.


Financial Planning for Doctors: Wealth Maintenance

Financial planning for physicians who are established in their careers centers on investment opportunities and retirement income planning. A Windward Wealth advisor can help you figure out how to plan for retirement needs and invest your money to prepare.

Following are a few of the unique money challenges faced by established doctors:

  • Investment choices: Salaries for physicians may increase rapidly. So, too, do the demands of a medical career. Many doctors may be time-pressed to research all of the investing options available to them. Without adequate time for analysis, they may find it difficult to know which options will help them meet their financial objectives.
  • Retirement planning: Wealth management strategies change as you approach retirement. Asset allocation should shift to reflect your ideal retirement timeline and lifestyle. Time is a factor here as well. While shifting portfolio selections may fall within your areas of interest, the demands of an ever-changing medical specialty may challenge you to find time to monitor and reallocate your portfolio as needed.

A Windward advisor can help you nurture your wealth as you navigate these unique financial challenges. As you build long-term relationships with patients, your Windward advisor will build a long-term financial management plan for your growing and maintaining wealth.


Financial Planning for Doctors: Wealth Preservation

Financial planning for physicians who are nearing retirement centers on wealth preservation, wealth transfer to children or grandchildren and legacy-building through charitable giving. Among the unique needs faced by physicians transitioning into retirement:

  • Retirement planning: When you begin to consider transitioning into retirement, you want to be sure your resources will support you throughout your retirement. Retirement planning considers the needs you will have in retirement, your portfolio allocation required to meet those needs in relationship to your risk tolerance.
  • Cash-flow management: After a successful career, you’ve obtained a lifestyle you want to maintain. Cash-flow management helps you identify what your cash flow needs will be and develop a plan for meeting those needs.

Windward Wealth advisors can help you finalize your retirement plans and undertake cash-flow planning to ensure you can sustain your lifestyle and preserve your wealth as you transition from active practice to retirement.


Long-Term Financial Planning for Physicians

Doctors have unique financial needs because they start their careers later and with high debt. An advisor who takes the long view can help you grow your wealth throughout the life of your practice — and beyond.

Windward Wealth Strategies offers financial management for physicians at every professional stage. Our guidance is proactive care for your long-term financial well-being.

To schedule a complimentary one-hour consultation with a Windward Wealth advisor, please call (920) 230-2215 or fill out the form below:

Schedule Consultation

Schedule your free, one hour consultation by filling out the form below.
  • Please do not use this form to share financial account or other confidential information.

Discover more resources and insight on financial planning:

Contact Us

Windward Wealth Strategies Northeast Wisconsin Office 2370 State Road 44 STE A Oshkosh, WI 54904