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Practice Academy Summer 2023: Taking Control of Your Financial Future: A Physician’s Playbook for Financial Wellness

Publication
Article
Medical Economics JournalMedical Economics September 2023
Volume 100
Issue 9

INTRODUCTION

Physicians often underperform their financial potential, facing numerous challenges in optimizing their investment returns. Busy schedules, lack of training in finance and the ever-changing health care landscape make it difficult for them to navigate complex financial decisions. Moreover, the financial services industry fails physicians in several ways. It often provides disconnected solutions that neglect the integration of tax, investing and insurance optimization, resulting in missed opportunities and unnecessary tax burdens.

Take control of your financial future: ©MJH Life Sciences

Take control of your financial future: ©MJH Life Sciences

This underperformance is alarming, with 1 in 4 physicians retiring or reaching age 65 with a net worth of $1 million or less, and the average physician’s retirement net worth of $3.4 million falls short of what could be achieved. Financial stress ranks as the second highest cause of stress among physicians, contributing to burnout levels. By using the right financial strategies, physicians can maximize their investment returns and enjoy a financially secure retirement.

LEARNING OBJECTIVES

  • Learn about the importance of financial concepts that often are neglected yet have a large impact on achieving current and future goals.
  • Review case studies that are essential for financial wellness at any stage of a physician’s career.

MEET THE PANELISTS

John Clendening
CEO, Earned Wealth

Myhanh Hoskin
Senior Wealth Advisor, Earned Wealth

To watch this session on-demand, click here.

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© National Institute for Occupational Safety and Health