CCMS Financial Planning Program
We specialize in working with doctors and surgeons
As a member of the Clark County Medical Society, you will receive a 10% discount off our Financial Planning fees.
We understand the unique financial challenges that may be facing doctors today as 75% of our existing client base is in the medical and dental markets. Whether you practice medicine or not, at the end of the day, each of us want to do our best to provide for our families, save for retirement and live a life without compromises. Building sustainable wealth is both a science and an art, and at Strategic Wealth Design, we use a powerful process that takes both the emotional and mathematical sides of financial planning to create financial balance for our clients. Through working with us, our client’s experience:
Being better organized
Being well informed
Achieving higher levels of savings
Achieving increased protection
Having more security, confidence and clarity
Financial Planning for Physicians
At Strategic Wealth Design, we create a Comprehensive Financial Plan for you using the Financial Planning Process as recommended by Certified Financial Planner Board of Standards Inc. The process contains various types of financial analysis and recommendations on a broad range of issues related to your financial situation: retirement, education, business, investment, and protection planning. You will receive a personalized written report detailing strategies and recommendations which are intended to help you attain your stated goals and objectives.
We work with Physicians at all stages
Medical School Students or Interns or Residents
During this stage we may primarily focus on managing your cash flows, your debts and your basic protection. We notice that student loan debt is one of the largest debts that physicians acquire in their career and it causes stress for many doctors and surgeons. We will look at the optimal amount of debt, what payment options we may have available, and how our clients effectively manage their budget. We will look at some basic protection, like Disability Insurance and Life Insurance, and focus on building a liquid savings account for emergencies.
During this stage we will start focusing on immediate goals and planning for the long term. Planning for immediate goals may include saving for a down payment for their first home, getting a handle on their student loan debt and payments, and setting up appropriate insurance coverages (Disability Insurance, Life Insurance, Umbrella Coverage, etc.). Long term planning may include learning about income taxes and strategies to effectively lower the tax burden, learning about retirement accounts and about various types of investments.
During this stage physicians generally start feeling the pressures of running a practice, having a family and managing their personal financial affairs. Financial Planning at this stage involves retirement planning and reviewing options for employer-sponsored retirement programs, starting to save for college expenses for their children, reviewing and considering other investment and saving vehicles, reviewing their estate plan along with asset protection strategies.
Retirement Focused Physicians
During this stage physicians maybe less than five years from retirement and have started thinking about what their retirement life may look like. We focus on creating retirement income strategies that maximizes all income sources in retirement, including Social Security. We will also consider various costs and risks in retirement, especially the risks of high medical costs and long term care, and how to best protect your assets, your income and your legacy.
Our fee depends on the scope of engagement and at what stage you might be in your career. Let's schedule a complimentary consultation to discuss your goals and how we can help. By the end of the first meeting, you will know if we are a good fit for each other and what the process (and fee) will entail for you.