Video Headlines:

OSHA Compliance

Hiring A Business Consultant

How To Structure Practice Banking

How To Win Your Insurance Contract Negotiation

What Is Practice Legacy Planning?

Disability Insurance

Types of Medical Insurance

Purchasing A Commercial Condo

What is a Commercial Lease?

Determine Employee Benefits

How To Find Money Factoring Resources

The Pros And Cons Of Leasing Vs. Buying

What to Ask for/Expect in Your Commercial Lease

How To Choose A Medical Management Firm

Choosing A Payroll Company

Merchant Services – Payment Gateway

Market Assessment/Demographic Research

The Mystery Of Medical Transcription

How To Choose A Medical Billing Company

In House Medical Billing vs. Outsourcing

How to get a DEA license

How to Choose a Medical Legal Firm

Group Practice vs Private Practice

Business/Casualty Insurance

Employee Benefits

Events

Retirement And Estate Planning For Physicians

What is a Medical Commercial Building?

How to Choose a Medical Bookkeeper

How to Find a Medical Management Firm

How to Find a Medical Legal Firm

Document Imaging

Merchant Services – ACH Payments

What Is Money Factoring?

Building a Team of Experts

How to Prepare a Cash Flow Analysis

The Mystery Of Doctor Credentialing

The Mystery Of Medical Transcription

How To Choose A Medical Doctor’s Insurance Company

The Best Software for Doctor’s Offices

Private Practice vs Hospital

HIPAA & OIG Compliance Plans

What is HIPAA Compliance?

OIG Compliance

Life Insurance

Advertising

In-House Human Resources vs Outsourced

Long-Term Care Insurance

Promotions

Direct Mail Marketing For Your Medical Practice

Capital Funding Needs: Pre-Opening, Opening

Equipment Selection Process

How to Find a Medical Practice Lender (resources)

Medical Office Structure, Layout And Design

Recruiting

How to Choose a Human Resources Company

How To Choose A Medical Collection Company

How to Find a Medical Bookkeeper

The Mystery of Doctor Credentialing

Build Or Buy: In-House Medical Coding Vs. Outsourcing

How to Purchase a Commercial Building

HITECH Act of 2009

College Savings Accounts

Patient Experience

HITECH Compliance

Medicare And Medicaid Audits

What Is A Marketing Mix?

HMOs vs PPOs

What Is A Merchant Processor?

The Pros And Cons Of Money Factoring

Leasing Medical Equipment Vs Buying

Types of Commercial Loans for Buying a Commercial Condo

What Is A Commercial Condo?

In-House Human Resources vs Outsourced

Determining Location Options

The Medical Coding Company That Could

The Mystery Of Medical Coding

Information Systems and IT for Doctors

In-House Doctor Credentialing VS. Outsourcing

The Medical Coding Company That Could

What is an NPI, difference NPI 1 VS 2?

Purchasing a Commercial Condo

Overhead Business Expenses

What is Fraud Investigation?

What Is Practice Succession Planning?

Patient Education

Communication Vs Branding

Capital Funding Lenders

How To Choose A Merchant Processor

How to Create a Draft of the Employee Handbook

How to Determine a Timeline to Open Your Medical..

Practice Publication Marketing

Practice Social Media

Leasing Medical Equipment

How To Choose The Right Corporate Structure For Your Medical Practice

How to Find a Medical Accounting Firm

The Mystery of Medical Staffing

Doctor Credentialing With Hospitals And Insurance Companies

Setting Up a New Practice

Your Medical Practice Opening Check-List

Search
Generic filters
Exact matches only
Home » Finance » Estate Planning » Retirement And Estate Planning For Physicians

Retirement And Estate Planning For Physicians

As a self-employed medical entrepreneur, it’s your responsibility to plan for your financial future. This means setting up retirement accounts as soon as you open your practice, as well as investigating your estate planning options. As an independent contractor, you have more retirement contribution options than a regular employee. Popular retirement plans for physicians include:

  • Individual 401(k)s
  • Cash balance plans
  • Profit sharing plans, and
  • SEP IRAs

Each of these plans limits the amount of your annual contributions based on your income, and in some cases your age. Many retirement plans offer tax-free contributions that lower the amount of taxable income you owe each year. Once you have set up your retirement accounts, the next step is estate planning. A living trust or will protects your assets in the event of your passing, and allocates those assets to your family or others of your choice. Make sure to keep all beneficiaries and documents up to date, and that your spouse or another family member knows where your will is kept.

Retirement and estate planning is crucial to your personal financial health and the financial health of your medical practice. Consult your financial planner to see which plans may be right for you.

To learn more about doctor credentialing, insurance, coding, outsourcing, and everything you need to establish a successful healthcare practice, follow all of Sherlock Doc’s adventures on the DoctorsBusinessNetwork.com or Doctors Business Channel on YouTube!.

Scene Premiere Banner 726x90

More Videos

CLIA Certification

CLIA Certification

Laboratory testing is an important part of the daily operations of any medical practice. It helps monitor patient health, detect and prevent disease, and allows

Read More »
Sybe Credentialing

Join DBN Today!

Let DBN help guide you to success!

Doctors Business Network offers everything new and existing health care providers need to establish and build a successful career! Sign up with DBN today and let us help you succeed!