Finally, there are ways to purchase future lifetime-income streams to meet fixed recurrent expenses, and hedging strategies to protect the downside risk even if it means giving up something on the upside. Learning about these tools can help physicians plan better.
Cash flow should be established so that it is automatic and delivered the same a paycheck. This should eliminate stress and offer a sense of comfort. Remember, cash flow must increase to keep up with inflation or lifestyle will slowly diminish.
Once a retirement plan is established and running, it should be retested and monitored so current and future cash flow remains within the boundaries of what is considered an acceptable probability of success.
With this type of planning, the guesswork and fear is taken out of retirement. One’s finances can feel they are on auto pilot, leaving physicians to concentrate on how to enjoy their new professionÂ–retirement!