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Financial Planning for Health Care Workers in Vermont

Antoine Williams & Associates Financial Services

You spend your entire day helping others! Don’t tackle your financial planning alone. We are here to help guide you to your desired retirement. Here at Antoine Williams & Associates Financial Services, we help our clients prepare for retirement and retire confidently. We are passionate about people and building relationships. It is important to us to help you make informed decisions when it comes to your finances. We specialize in Financial Planning for Health Care Workers. Meet with us to discuss the array of options we have for you.

Financial Planning for Health Care, University of Vermont Medical Center

You spend your days serving others. We are here to serve you. Wherever you’re at with your individual retirement journey, we can step in and help you reach your goals. We specialize in financial planning for health care workers. Come and see what we can do for you.

Physician Financial Planning

Physicians are feeling financial pressure from all angles, from education loans to performance-based pay. We do not want you to feel like you have to work until you’re seventy in order to retire comfortably. So, how can you pay off your student loans and other debt, put your children through college, and retire comfortably at an age that works for you? Considering certain aspects of your career affects your finances and financial plan greatly. Whether you choose being an employed physician or a self-employed physician, this choice impacts tax implications, how much you can save for retirement, when you can retire, and so much more. While it is seemingly beneficial for busy, corporate healthcare workers to allow their employer to take care of health plans, disability insurance, and retirement, there are many benefits to seeking a financial advisor to partner with and take control of your finances.

Take Control of Your Finances

Many healthcare workers do not fully understand the tax implications of working for themselves, being an owner in a partnership, or working for a corporation. Whatever your situation, working with our team at Antoine Williams & Associates will help you understand how you can take control of your finances and get on track for a healthy retirement on your time. Any time is a good time to get started. We will get to know who you are, what your goals are, and how we can help you achieve them, always leaving room to dream bigger!

Where should I invest my retirement savings?

After you have set your emergency savings aside (generally equal to three month’s wages), when it comes down to investment accounts, tax-free is better than tax-deferred which is better than taxable. Health Savings Accounts are tax-free. When you begin investing, it is always smart to max these out first. Moving on next to tax-deferred plans such as 401(k) plans and defined benefit pans. After considering your tax-free and tax-deferred options and maximizing these, taxable investments come next. Taxable investments include paying student loan debt down and saving for your children for college because these are paid for with after-tax dollars. It is important to note that if your employer matches a certain percentage of you 401(k) contributions, you should maximize these benefits to get the full use of the match.

The Medical Profession Comes with its Own Unique Complexities

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.

Key Takeaways:

Whether you are a physician, dentist, nurse practitioner, physician assistant, or another member of the healthcare industry, your financial situation is unique to you. As a medical professional, your financial circumstances may be more complex than others in different professional fields. At Antoine Williams & Associates Financial Services, we specialize in working with healthcare workers to create a financial plan that will work with you as you move through your career in healthcare, and we will ensure that you are on track for your retirement.

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