Welcome Doctor
This is such an exciting time in your life! There are special opportunities as you finish training and start in practice. Take advantage of everything available to you.
See your Top 5 To-Do List below:
TOP 5 ON YOUR TO-DO LIST
1. DISCOUNTED DISABILITY COVERAGE
While you are in training, and for a short time after, most major carriers offering True Own Occupation Disability Insurance offer a Resident/Fellow Discount. TAKE ADVANTAGE OF THIS! With many carriers, this discount is permanent and contractual, meaning your discount is good for your initial purchase as well as future purchases. We independently represent disability carriers that offer a policy suitable for Medical and Dental Specialists (Ameritas, Guardian, Mass Mutual, Principal, and Standard). Contact us to get a customized quote.
2. TERM LIFE INSURANCE
At this point, you are as young and healthy as you are likely ever going to be. NOW is the time to secure a term life policy. We independently shop most major carriers to find the policy that is best for you. Contact us to get a customized quote.
3. RETIREMENT PLANS
Were you forced to contribute to your institution's retirement plan? Is it best to leave those funds in that plan, roll it over to your own IRA, or transfer it to your new Employer Sponsored Retirement Plan? IT DEPENDS! Because of your unique tax and creditor exposure, this is a more complex issue than it may seem. Contact us to discuss your individual situation.
4. RETIREMENT STRATEGIES
Especially in the year you leave training and enter practice, you are in a very advantageous position to capitalize on various retirement strategies. This may be the last time your marginal tax bracket is ever this low again! Talk to us to learn more.
5. BUILD YOUR ADVISORY TEAM
You will be infinitely more successful if you focus on increasing your productivity, acquiring new certifications, or putting another patient in your chair. At Powers Financial Group, we know we can't specialize in everything. We are happy to work with your advisors, and can introduce you to our nationwide network of service providers.
BONUS: GET OFF TO A GOOD START
We get it - you want a new car, you have to move across the country, you just bought a ton of insurance, and you need a vacation. You can have all these things, and with the proper planning, you can also get yourself off to the right start in your financial life. Let us help you get off on the right foot!