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Worried about Retirement? What NOT to Do


Physicians in their 50s and 60s worried about retirement know that time is not on their side. There are options when time is not on your side, and one of those options is indexed universal life insurance.

Cracked Nest Egg

Physicians in their 50s and 60s worried about retirement know that time is not on their side.

I see smart doctors take desperate financial steps that make matters worse rather than better.

Here are three strategies to avoid:

• Denial. Yes, it’s difficult to face an unpleasant truth. However, ignoring financial problems works about as well as ignoring a progressive medical illness.

• High-Risk Speculation. Physicians interested in catching up with retirement planning may be tempted by high risk investments. Safety must come first.

• Asking the Wrong Person. Many physicians turn to physicians whom they trust for financial advice. Ask a cardiothoracic surgeon for advice about mitral valves, not retirement income.

I waited until late in life to start a family, and faced fertility issues. My wonderful son was conceived through IVF.

Few physicians know about “financial IVF” interventions that make retirement possible when time is not on your side. You may not know about proven investment strategies and financial products used every day by sophisticated investors like Warren Buffett. He invests in indexed universal life insurance (IUL). He understands the tax advantages.

Did you know that banks will issue physicians loans to invest in IUL policies, just like they issue mortgages? The loan is secured with the IUL.

Yes, I am aware of the controversies surrounding IUL. My own financial advisor dismissed it as an imprudent investment. I am not a financial advisor, and do wish to enter the IUL vs market debate.

I do know that IU is a viable option for physicians in their 50s and 60s who do not have time on their side. In their case, “leveraged IUL” is the best and safest path to retirement.

A mentor once said, “Where there’s life, there’s hope.” The same is true with financial health and retirement plans. Explore options with experts who use IUL every day.

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Victor J. Dzau, MD, gives expert advice
Victor J. Dzau, MD, gives expert advice