Financial and Retirement Planning for Physicians Story

Financial and Retirement Planning for Physicians

One of the ironies of being a doctor is that too often caring for others takes away from the time we need to care for ourselves.

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An important strategy to make the best of your limited free time is to seriously consider retirement planning. Regardless of your age, this is a crucial path to safeguarding your future.

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Whether you are a pre-retiree or retiree, there are several major areas you should think about to successfully plan for retirement. Retirement planning can reduce anxiety and increase happiness.

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Six critical areas of retirement planning to discuss and consider.

1. Develop an Income Plan

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Choosing the right investment strategy is involved in this component of your plan. There are many investment strategies available, from aggressive to conservative.

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3. Forecast Your Expenses

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Another area that retirees and potential retirees need to think about is their tax strategies.

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Most will have less income after they retire so it is critical to be smart about what you can keep and how much you will have to pay out in taxes.

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To maximize Social Security benefits for you and your spouse, you need to know which of the separate claiming strategies for married couples is right for you.

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