Many high-income doctors
need personal advice to wisely manage their finances. There are three general
situations when personal financial advice should be sought. See which one fits
your situation:
When
you have specific issues
If you are an
independent doctor who has a good grasp of financial planning, you may need
help from time to time to resolve complex issues. You may become interested in
an investment opportunity, perhaps a tax reduction strategy for the year, or
other aspects relevant to your income. Straightforward and once-off advice on
the concern can be provided by an advisor.
When
you want to form a comprehensive plan
If you need guidance on
your overall financial situation and wish to take control once a plan is set, an
accounting and financial planning professional can use his/her expertise to
create a detailed financial plan for you. The expert helps you set your goals
and devise ways on how to accomplish those objectives. Diversifying your
investments, fulfilling your retirement plan, and accomplishing other
strategies will be your responsibility.
When
you need long-term guidance
If you require hands-on
or ongoing advice for your financial affairs, medical accountants can assist
you every step of the way. You can reach agreements as to the professional’s
level or length of involvement and the certain services you need. Your accountant
can also handle aspects of your tax filing, investments, income protection,
etc. and keep you informed or updated throughout the partnership.