Financial Complexities of Healthcare Workers
As a healthcare professional, you may be regularly exposed to lawsuits, so protecting your assets is just as important as continuing to grow them. When running your own medical practice, you will need to consider employees, payroll, business taxes, company retirement plans, deferred compensation, health insurance, and the day-to-day operations of your practice. This can feel overwhelming, but when you have a financial advisor at your side to navigate these many complexities, you can breathe a sigh of relief knowing that you’ve got the pros helping you make informed decisions about your personal and business finances.
Where should I invest my retirement savings?
When it comes down to investment accounts, tax-free is better than tax-deferred which is better than taxable. When you begin investing, it is always smart to max out your tax-free and tax-deferred options, like a 401(k) first. It is important to note that if your employer matches a certain percentage of your 401(k) contributions, you should maximize these benefits to get the full use of the match.
Private Practice
As a healthcare professional, you may be regularly exposed to lawsuits, so protecting your assets is just as important as continuing to grow them. When running your own medical practice, you will also need to consider employees, payroll, business taxes, company retirement plans, deferred compensation, health insurance, and the day-to-day operations of your practice. This can feel overwhelming, but when you have a financial advisor at your side to navigate these many complexities, you can breathe a sigh of relief knowing that you’ve got the pros helping you make informed decisions about your personal and business finances.