PLAN, EXECUTE, FOLLOW-THROUGH
No matter what age you are, or how long you've been in practice, you can realize a successful financial future
Also available in these eBook formats.
Joel M. Blau and Ronald J. Paprocki
No matter what age you are, or how long you've been in practice, you can realize a successful financial future and:
- Achieve your financial objectives even in the face of declining net practice income.
- Protect your current assets from potential lawsuits and other losses.
- Save and invest strategically to accomplish long term goals.
- Make the right choices about life, disability, and long term care insurance coverage
- Prepare an efficient estate plan.
- Maximize the value you receive from your current team of personal investment, insurance, and legal advisors.
A step-by-step guide to building a successful financial future while doing what they do best, which is taking care of patients.
The authors of this successful book realize that most physicians, while getting their medical training, had no time to take accounting and finance courses. Their goals were on building their clinical knowledge. As a result, many physicians are unprepared to handle their financial future in a proactive way. This book provides the data and commonsense financial planning strategies physicians can trust.
The authors provide no tricks, no gimmicks, just commonsense financial planning strategies and expert knowledge that work. All chapters are designed specifically for the physician-reader.The book focuses on financial issues facing physicians today, namely:
The authors say, "We wrote this book to provide practical information on insurance, retirement plans, as well as moving on to more sophistication financial concerns such as debt and equity investment vehicles, portfolio management, risk management and estate planning."
- Achieving financial objectives even in the face of declining practice income.
- Protecting current assets from potential lawsuits or other losses.
- Maximizing the value physicians receive from their circle of personal investment, insurance, and legal advisors.
Table of Contents
Introduction
- The Future's No Longer Guaranteed
Chapter 1: Designing an Efficient Financial Plan
- Hazard Protection: Protecting Your Most Important Asset
- Emergency Funds
- Liquid Investments
- Nonliquid Investments
- Tax Shelters
- Apex
Chapter 2: Strategic Planning
- Compound Interest
- Inflation and Taxes
- Taxation
Chapter 3: Investment Vehicles
- Owning or Loaning
- Cash Equivalents
- Bonds
- Real Estate
- Stocks
- Sub-Asset Classes
- International Investing
Chapter 4: Acquiring Assets
- Individual Securities
- Exchange Traded Funds
- Managed Mutual Funds
- Load Mutual Funds
- No-Load Mutual Funds
- Class B Shares
- Mutual Fund Differences
- Bond Funds
- Individual Bonds or Bond Mutual Funds?
- Socially Conscious Funds
- Derivatives
- The Relevance of Fund Size
- Management Style: Active versus Passive
- Investment Websites
Chapter 5: Annuities
- Variable Annuities
- Equity-Indexed Annuities
- Recent Income Alternative for Annuities
Chapter 6: Investment Objectives
- Investor Profiles
- Economic Indicators
- Key Determinants of Performance
- Adding Stability to Your Investment Portfolio
- Reducing Risk
Chapter 7: Education Planning
- Section 529 Plan Advantages
- Some Comparisons
Chapter 8: Retirement Planning
- How Can You Guarantee a Successful Retirement?
Chapter 9: Choosing an Efficient Retirement Plan
- Defined-Benefit Plans
- Defined-Contribution Plans
- What Plan Offers the Right Fit?
- Implementing Your Plan
- Participant-Directed Accounts
- Qualified Plan Distributions
- Individual Retirement Accounts (IRAs)
- Divorce Issues
- Remarriage Issues
Chapter 10: Risk Management
- Disability Insurance
- Life Insurance
- Term Insurance
- Permanent Insurance
- Long-Term Care Insurance
Chapter 11: Asset Protection
- Background
- General Concepts
- Are You Worth It?
- Common Misconceptions
- Mistakes to Avoid
- Positive Strategies to Consider
- Tenancy by the Entirety
- Techniques That Do Not Work
- Case Studies
Chapter 12: Estate Planning
- Goals
- The Estate-Planning Process
- Asset Titling
- Distribution Strategies
- Intestacy
- Probate
- Taxes
- Power of Appointment Trust
- Estate Trusts
- Special Rule Charitable Remainder Trust
- Qualified Domestic Trust
- How To Reduce Taxes
- Paying Estate Taxes
- Summary
Joel M. Blau and Ronald J. Paprocki are the founders of MEDIQUS Asset Advisors, Inc., a national financial advisory firm, based in Chicago, serving physicians and health care professionals. Medical Economics has recognized MEDIQUS as one of the country's top financial advisors for physicians since 2000. Before starting MEDIQUS, they were Vice Presidents for AMA Investment Advisers, an affiliate of the American Medical Association.
