Do you want to reach financial independence? Of course you do. Do you want to get there in a reasonable amount of time? I’ll take it that’s a yes.
The White Coat Investor went up into the Mount and out of the burning bush came a finger which engraved on the stone tablets the following:
Most doctors won’t have any kind of a pension, so if you want to retire on more than Social Security will provide then you’ll need to learn how to implement and maintain a retirement plan and fund it appropriately.
Everybody, no matter whether they choose to rely heavily on a financial advisor or not, needs to do some initial financial education such as reading 3 or 4 good books on personal finance and investing.
There are lots of bad financial things that can happen to you in life. Most of these are minor, like your washing machine breaking. You don’t need to insure against these, you simply need an emergency fund of 3-6 months worth of expenses.
There are many insurance-related investment products such as cash-value life insurance and annuities which allow you to transfer investing risks to the insurance company in return for some guarantees.