The Prescription for Financial Health An Authoritative Guide for Physicians 2nd Edition
PLAN, EXECUTE, FOLLOW-THROUGH
Also available as Kindle
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.
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.
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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:
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.
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.”
With this book you will learn how to:
Save and invest strategically to accomplish long term goals based on the very same methods the largest pension plans and bank trust companies use to achieve their investment planning goals.
Make the right choices about life, disability and long term care insurance coverage, determining optimal mix and the amount of coverage that’s right for you.
Prepare an efficient estate plan in conjunction with smart asset titling strategies to help you minimize estate settlement costs and your ultimate tax liability.
Work more effectively with your financial and legal advisors, helping them help you protect your assets and further your financial goals.
And much, much more!
Your greatest asset as you plan for your financial future is knowledge. As you gain a better understanding of the important elements of financial planning, investment options, and portfolio structure, you will be able to formulate a successful strategy for accomplishing your long- and short-term goals and objectives.
About the author
Joel M. Blau, CFP™, is president of MEDIQUS Asset Advisors, Inc. Prior to cofounding the firm, Mr. Blau was vice president and senior financial counselor for AMA Investment Advisers, L.P., an affiliate of the American Medical Association. Mr. Blau is responsible for the Institutional Services provided by MEDIQUS and has extensive experience in the analysis and design of financial plans and strategies for health care professionals and medical organizations. His areas of expertise include not-for-profit investment management, wealth preservation through estate tax planning, retirement, investment, and insurance planning.
Ronald J. Paprocki, JD, CFP,™ CHBC, is the chief executive officer of MEDIQUS Asset Advisors, Inc., a national financial and investment advisory firm that specializes in assisting and advising physicians and health care professionals. Before co-founding MEDIQUS in 1996, Ron was the vice president of AMA Investment Advisers, L.P., an affiliate of the American Medical Association. Mr. Paprocki has been responsible for the analysis and design of individual financial situations for health care professionals, closely held business owners and high level executives. His approach in assisting health care professionals has led to the development of The MEDIQUS Way, a planning method that utilizes a consistent and dependable process of analytical systems and investment strategies to help clients accomplish their objectives. Specifically, Mr. Paprocki’s areas of expertise include retirement, investment, and estate planning.
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
- Chapter 13: Conclusion
