We help you develop an overall “plan” that covers your entire financial picture.
We then work together to get organized, implement that plan, and help you achieve what’s most important to you.
By working together, we ease the time (and mental) burden of managing your finances, while giving you the confidence and peace of mind that you're making the best decisions for your situation.
Things We Help With
- Developing an efficient saving and investment plan to minimize the amount of taxes you pay
- Creating an intentional retirement/financial independence plan and ensuring you remain on track along the way
- A college planning strategy to save and invest for your children’s education in the most efficient way
- Setting up an estate plan that reflects your wishes while also taking care of your children
- Reviewing employer benefits to ensure that you're optimizing everything with your elections
- Making sure you have the right types/amounts of insurance while also getting the best price
- Protecting you from lawsuits by titling assets properly and having enough liability insurance
- Optimizing the way you're saving and investing your money (including which accounts to use) based on your goals
- Navigating the ups and downs of the stock market and avoiding investment mistakes along the way
- Strategy for managing new or existing debt (student loans, car loans, mortgage, home renovations, etc.)
Resources for Established Physicians
Featured Case Study
BUSY PHYSICIAN
Sarah and John are both physicians. They met in training and now work for separate employers, one as an orthopedic surgeon and the other in emergency medicine. They also have two children and, as busy parents and professionals, never seem to have time to properly manage their finances.
Note: This case study is hypothetical and does not involve an actual MD Wealth Management client.
Case Study
Busy Physician
SARAH & JOHN
AGE: 41 & 44
The Situation
Sarah and John are both physicians. They met in training and now work for separate employers, one as an orthopedic surgeon and the other in emergency medicine. They also have two children and, as busy parents and professionals, never seem to have time to properly manage their finances.
As demands on their time have increased, their financial picture has also changed. They’ve made some good financial decisions over the years (paying off student loans and contributing to employer retirement accounts), but now have more money available to save and aren’t sure which accounts to use or how to invest it. As high earners, they’re also increasingly aware of the big tax bill they face each year and want to know if there are ways to reduce it.
Sarah and John enjoy their jobs, but after working in their specialties for many years now, they can’t picture themselves continuing until the traditional retirement age. They want a tax-efficient saving and investment plan for at least making work “optional” by age 55 or 60.
Given their specialties, the risk of litigation is also an ever-present concern and they want to make sure they’re doing what they can to protect themselves and their assets.
As devoted parents, Sarah and John want their kids to enjoy the same educational opportunities they did, but don’t have a plan for saving for college. They also want to make sure the kids are cared for if something happened to them, but they never set up a proper estate plan and aren’t sure exactly what types and amounts of life and disability insurance they should have.
With everything going on, Sarah and John realize it’s becoming too overwhelming to do it all themselves and they aren’t confident that they’re making all the right decisions. They want an expert who understands their unique financial situation and can provide a clear “plan” to optimize the many moving parts based on what’s most important to them. Given their full schedules, they also want someone who can help them execute that plan and hold them accountable.
The Approach
With accounts spread out at various places and cash accumulating in their bank account, Sarah and John weren’t sure where to begin. And as busy professionals, they wanted to make sure that any time spent looking for a financial advisor was time well spent.
That’s why they used our complimentary 3-Step Process to evaluate our firm.
Through this process, we answered their questions, gave them clarity around his finances, and showed them exactly what we would do for them and what it would look like to work together.
The Results
We helped Sarah and John develop and execute a plan that met all their needs:
- A tax plan that ensures they maximize deductions/breaks during their high-income years
- Confidence that they are saving money to the right investment accounts
- A coordinated/intentional investment plan based on their unique financial goals
- A college savings strategy that helped them save taxes and stretch their dollars further
- A tax-efficient retirement saving and investment plan to make work optional at age 55
- An asset protection plan to protect their assets and future income from the risk of lawsuits
- Clear guidance on exactly what amounts and types of life/disability insurance they actually need
- An estate plan that reflects their wishes and cares for their children if something happened
- A plan for optimizing their two sets of employer benefits to get the most out of them
We also gave Sarah and John access to our secure client portal, helping them consolidate and organize the many accounts and moving parts of their financial life in one place.
Sarah and John now enjoy the peace of mind that comes from having a clear financial plan and a professional to support them on an ongoing basis. They have more time, energy, and mental space to dedicate toward being physicians, parents, and doing what they enjoy.
Note: This case study is hypothetical and does not involve an actual MD Wealth Management client. No portion of the content should be construed by a client or prospective client as a guarantee that he/she will experience the same or certain level of results or satisfaction if MD Wealth Management is engaged to provide investment advisory services.