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Get the Retirement Help You Need


When it comes to finances, there are usually two types of people: Those who seek guidance from a professional, and those who go it alone.

About half of all physicians have a financial advisor and the other half are do-it-yourselfers. So who’s right and who’s wrong?

When it comes to saving for retirement, you really do need the help of a professional. Doing it yourself is like patients with chronic illnesses trying to treat themselves rather than go see specialists. The do-it-yourself patients will probably not get their desired outcomes.

Does that mean that everyone who sees a financial professional is doing the right thing? No, because the vast majority of financial advisors are either incompetent or they put their own self-interests before the interests of the client.

So how do you know you’re getting a competent advisor who will put your interests first?

First think about what you want in your retirement. If you’re like most physicians that I talk with, you want to maintain the lifestyle you have now, throughout retirement, without the risk of running out of money.

In 2013, I was at the San Diego Convention Center at a conference for plastic surgeons. There were almost 3,000 plastic surgeons under one roof, and I was there for three days. While I was there I decided to take a poll of every plastic surgeon I met. I asked them the following polling question: “If you could ask me only one question about retirement what would you ask?” They all asked me the same thing: “When I retire, how can I maintain the lifestyle I have now, without the risk of running out of money?” After the conference, I continued to ask the polling question to physicians from other specialties. Every physician I talk with always asks me about how not to run out of money in retirement.

Once you decide what you want in retirement, find an advisor who can help you achieve what you want. Feel free to be very specific with the advisor because the more specific you are, the easier it will be to know if he or she is the right advisor for you.

When in doubt, refer to my list of the seven retirement killers, because no matter what you want in retirement, exposure to any one of the seven retirement killers can kill your retirement. Check out The Alemian File

, The Seven Retirement Killers.

Episode #2

If you have questions send me an email to

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David@TheAlemianFile.comPhysicians Money DigestThe Alemian File

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