Medical & Healthcare Professionals
Every professional will run their practice similarly with simple, yet important, differences. We aim to offer flexible, customized solutions that fit seamlessly with the way you work, with consideration to both short- and long-term planning. In addition to the basic services outlined, consider the following “Life Stages of a Medical/Healthcare Professional” outlined below that physicians and many healthcare professionals will experience, which require a well-laid-out plan.
Starting Your Career
At this early stage, it is important to identify, develop and constantly re-evaluate your vision and plans for your career. Proceeding on a solid foundation is crucial, and the best way to make this process easy is to seek the guidance of an an accountant experienced in this area, and that is Nice Accounting.
Growing Your Wealth
Between the ages of 30 and 50, you will typically have very little debt, which enables your advisors to invest the wealth you are accumulating. More complex taxes will play an important part in your financial well-being in these wealth-building years. Family is also especially important during this time; as your children mature, they will demand more of your time and attention.
Planning for the Future
Your vision of retirement may come to realization at anytime, but typically after the age of 50. You may choose to continue your career as part of your retirement, or invest your time in other interests. You may consider sharing the wealth that you have accumulated and created to support aging parents, siblings, or children.
By the time you retire, you should be in a financial position with the freedom to do all you wish to do. Estate planning will have already been addressed in all of the previous stages, and we will continue to help you along. Planning at this stage may include interim distributions of your estate to family, investment review, or entertaining philanthropic endeavors.