This second part of this series on the basics of estate planning will cover those roles and responsibilities associated with the documents, which include a will, a power of attorney, a health care power of attorney, and a living will.
John J. Grande, CFP; Traudy F. Grande, CFP; and John S. Grande, CFP
For physicians with 15 or 20 years left to work before retirement, the planning is easy–as time is on their side. Adjustments can be made regarding savings rates, age of retirement, and future cash flow needs. When retirement is imminent within three years, the planning options are limited, and physicians must become realistic about what is mathematically feasible as far as generating sustainable cash flow to support their lifestyle. Here are some issues for physicians who are facing retirement within three years or less.
One of the frequently asked questions in the financial planning discussion is: “How can I protect myself against the possibility of long-term health care expenses?”
This subject is a concern for most Americans. A recent survey of over 10,000 affluent investors, conducted by Spectrem Group and Vanguard Financial, found that long-term care was the top concern among individuals with $5 million to $25 million in assets.
After working with ophthalmologists across the country for over 20 years, Grande Financial Services have heard firsthand from hundreds of ophthalmologists about what stresses them out and what detracts from their happiness. We have outlined here five reasons why physicians deprive themselves of more happiness.
When considering retirement, today's physicians need to outline their current financial situation; list and prioritize goals; and have a plan prepared that will show if their objectives are based in financial reality.
This is a question we often get from doctors. It is an interesting question, because there are a couple of opinions about what the right thing to do is. There is never a cookie-cutter answer.
A financial question that surfaces frequently, usually from physicians ages 55 years and older, is: “When and how should my spouse and I take our Social Security benefits?” These types of questions recently got complicated with the recent passage of new legislation by the U.S. Congress.
Ophthalmology Times and the Grande Financial Services Inc. are pleased to announce an addition to its continued collaboration. Together, we are launching this Money Matters Resource Center. This project is included as part of the Practice Management section of the publication.