In this week's episode of The Alemian File, David Alemian discusses why you should take a holistic view of your compensation.
Your compensation is more than just about salary, it’s also about benefits. One of the ways to negotiate more compensation is to focus on retirement benefits.
Let’s face it, the typical qualified plan is not going to be enough to provide you with the kind of retirement you want. You have to put more money into your retirement plan or you will most likely run out of money in retirement.
What if your healthcare organization put more money into your retirement plan? It could free up money that you are putting away—or should be putting away—and you could have more money to spend elsewhere.
So why would you ask for more retirement benefits instead of just asking for more money? The answer is simple: It’s better for you and for the healthcare organization. Here’s why: In the long run, you will end up with a lot more money. You’ll get more cash flow now, which is what most of you need, and you could get hundreds of thousands of dollars more in retirement. There are also huge tax savings benefits for you. The healthcare organization can actually save money to.
Remember, there is a serious physician shortage, and keeping their physicians happy is a priority for most healthcare organizations. For the last 10 years in a row surveys have shown the top two concerns for healthcare CEOs are cost control and physician retention. This can become a win-win situation for the healthcare organization and you.
If you have questions, send an email to David@TheAlemianFile.com, because I answer every email I get. In the meantime, check out and “LIKE” The Alemian File Facebook page, or simply go to TheAlemianFile.com. Absolutely, make sure you come back here next week to Physician’s Money Digest for another edition of The Alemian File.