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Dec
15

Doc, Worried about Retirement? What NOT to Do

600px-Stop_sign(standard).svgPhysicians in their 50’s and 60’s 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 mutual funds.

This is the time for worried physicians to make considered financial choices.

The problem is that few physicians know about proven investment strategies and financial products used every day by sophisticated investors like Warren Buffett.  Here are a few questions to ponder:

  • What would you think about a product that protects against market losses, allows you to borrow from your investment and generates tax-free retirement income?
  • Would you prefer to pay taxes on your income now, or later?  As you consider this question, please remember that we only have one way to pay down our huge national debt.  Taxes will go up.
  •  Did you know that banks will issue physicians loans to invest in specific financial products, just like they issue mortgages?  The loan is secured with the investment.

I am not a financial advisor, and I do not sell any financial products.  I’m a physician, committed to the alleviation of pain and suffering.  I see many physicians in acute financial pain, and I know there are innovative financial remedies.  I use them myself.

A patient with a dire diagnosis once said to me, “Where there’s life, there’s hope.’” The same is true with financial health and retirement plans.

Please encourage physicians worried about their financial security to learn about all of their retirement options.

© 2015. Vicki Rackner MD. All rights reserved.

You may reproduce this post with the following by-line:

Vicki Rackner MD is an author, speaker and consultant who offers a bridge between the world of medicine and the world of business. She helps physicians run more successful practices. Contact her at (425) 451-3777.

Are you a physicians interested in more information about proven innovative retirement solutions used by sophisticated investors?  Go to www.FINANCEDPHYSICIANRETIREMENT.COM to sign up for a free educational video.

 

 

 

 

 

 

Doctor, are you engaging in financial interventions that promote your optimal  financial health?

 

Permanent link to this article: http://medicalbridges.com/doc-worried-about-retirement-what-not-to-do/

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