Financial Planning is different for Doctors & Medical Professionals.
Managing your finances can be challenging if you're a doctor or medical professional. You may have:
- Large amounts of student loan debt
- Delayed saving for retirement
- An above-average salary
- High occupational risk
- Expensive lifestyle costs
With these things in mind, we've used our 25+ years of industry experience to develop a step-by-step process to make all the different aspects of your finances work together. This process is designed to assist you in reaching your personal and financial goals and give you the confidence needed to have a successful retirement.
Our unique planning process is designed to do three things:
- Help us understand your unique situation
- Help you make informed decisions about your finances
- Help you answer three important retirement questions.
This all starts with our free financial planning session. This complimentary session will present you with an easy-to-understand financial plan to help you answer three important retirement questions.
1. Is your portfolio suitable for retirement?
Having the right investments is an important part of achieving your financial goals.
But the investing world is unnecessarily complex.
Our goal is to simplify your investment plan and help you understand if you’re invested correctly based on your stated objectives.
2. Will you run out of money in retirement?
Doctors nearing or in retirement usually have some common concerns regarding their income.
If you have ever wondered:
- “How much money do I need to retire?”
- “How much can I safely take out of my retirement account?”
Then you are not alone!
We’re here to remove the stress that comes with planning for retirement by giving you a clear, simplified plan that will make sure your income lasts as long as you do.
Take the quiz to discover what’s the best retirement withdrawal strategy for you.
3. How can I reduce my taxes in retirement?
“You are obligated to give the government what you owe, you aren’t obligated to tip them.”
Reducing your tax liability is one of the most effective things you can do in retirement. Your money can go to one of four places: you, family members, charities, or the government. With proper tax planning, you put yourself in the position to keep more of your hard-earned money to spend however you choose.
How it works
Step 1 – Discover
This 15-minute meeting is designed to help us learn about your unique situation and see if there is potential for us to work together. If we are both comfortable moving forward, we will ask you to provide us with some information to help us complete your free financial plan.
Step 2 – Evaluate
Using the information that we gathered from the first meeting, we will develop a financial plan that is easy to understand. Our evaluation will help you answer the following questions:
- Can you afford to retire? -
- Take the quiz! How much do I need to retire
- Can you minimize your tax obligations?
- Can your portfolio be improved?
- Can you eliminate or at least minimize threats to your retirement?
Step 3- Plan (Second meeting)
During this meeting, we will present your custom plan and explain, in simple terms, exactly what you need to do to achieve your retirement goals. At the end of this meeting, we will ask you if you would like to work with us or if you would like to take some time to think about it.
Step 4- Think about it.
Hiring a financial advisor is an important decision we don’t want you to rush. Even if you are ready to move forward, we will insist that you take some time to consider the following questions:
- Do I like/trust/respect the team at Parkhurst Financial?
- Will the services they provide exceed their cost?
- Do their recommendations make sense to me?
Step 5- Implement (third meeting/paperwork)
During this last meeting, we will walk through the details of implementing your plan, answer any questions that you have, and if you are ready, start the paperwork to become a client.
If this process makes sense to you, the next step is to find out if a free financial planning session is right for you.