Financial Planning for Physicians
We help medical professionals make the most of their income, time, and hard-earned wealth—with flat-fee advice built for complexity.
Physicians and dentists face a unique set of financial challenges at every stage of their careers. Whether you’re an employee, a partner in a group practice, or the owner of your own practice, the decisions you make now shape your long-term security and your family’s future.
At Altruist Wealth Management, we work with medical professionals who want straightforward, transparent advice—without product sales or hidden incentives. We help you simplify the complex, so you can focus on what matters most: your patients, your family, and your life outside the office.
What We Help With:
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Student loan repayment strategies
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Building and protecting wealth as your career evolves
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Asset protection and liability coverage assessment
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Tax-efficient retirement savings
(including setup and optimization of Solo 401(k), SEP, and small practice 401(k) plans; guidance on 403(b) and 457 plans for employed physicians) -
Coordinating business and personal tax strategy for practice owners
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Equity compensation and practice buy-in/buy-out planning
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Preparing for practice succession or early retirement
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Navigating major purchases, relocations, or life changes
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Making confident decisions in the face of career uncertainty or burnout
Our process considers the realities of medicine—irregular schedules, demanding workloads, and the pressure to plan for both today and tomorrow. Whether you’re just starting out, building a thriving practice, or planning your exit, we help you build a plan for long-term financial health and peace of mind.
📊 Advisor Fee Comparison Tool
The industry standard is 1%. This shows what that really costs you.
✅ Understanding Fees
A closer look at how advisor fees work—and why structure matters.
“Do the right thing, do it the right way, and do it right now.”
— Gerard O’Reilly, PhD
Physician Family Case Study
From Financial Overload to a Clear Plan: How Dr. Alex & Dr. Emily Optimized Their Wealth
Overview:
Dr. Alex and Dr. Emily spent years building their careers, but as their success grew, so did their financial complexity. With long shifts, a growing family, and a thriving side business, they felt like they should have it all figured out—but instead, they were overwhelmed.
Emily’s CPA had recommended a SEP IRA for her business, but she wondered: Was this really the best way to maximize their retirement savings? Were they missing better opportunities?
They needed a comprehensive plan to help them manage taxes, protect their assets, and plan for their children’s future—without adding stress to their already demanding lives.
Challenges:
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High combined income = significant tax burden.
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Unclear retirement savings strategy. Emily’s SEP IRA may not have been the best option for maximizing contributions.
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Too many financial priorities. They wanted to save for education, protect their assets, and reach financial independence—all while managing career burnout.
Solutions:
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Solo 401(k): Transitioned Emily’s retirement plan to a Solo 401(k), allowing for higher contributions and long-term flexibility.
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Tax Optimization: Explored tax-efficient strategies, including backdoor Roth IRA contributions and proactive tax planning for Emily’s business.
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Education Savings: Developed a 529 plan strategy to fund their children’s education while balancing cash flow.
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Liability Protection: Reviewed and optimized personal and business liability coverage, including umbrella insurance.
Results:
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Maximized Retirement Contributions – The Solo 401(k) allowed for significantly higher savings potential than the SEP IRA.
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Simplified & Optimized Finances – They now spend less time worrying about their financial structure and more time focusing on their careers and family.
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Financial Confidence – With a structured plan in place, they can now grow their wealth efficiently while maintaining work-life balance.
Balancing a Thriving Career and Your Financial Future?
Managing a high-earning career while growing a business can be overwhelming, but a structured financial strategy can help bring clarity and direction. If you're wondering how to maximize your financial opportunities, we’d be happy to help. Schedule a quick call to see if we’re a good fit.
This case study is reflective of real client scenarios but does not describe any specific individual. It is intended for illustrative purposes only to demonstrate how Altruist Wealth Management may approach similar situations. Individual outcomes will vary based on personal circumstances, market conditions, and tax laws, which are subject to change. This content is not personalized investment, tax, or legal advice. Altruist Wealth Management is a registered investment advisor offering fiduciary services. Please consult your tax or legal professional for advice tailored to your unique situation.