Integrated financial planning for dentists
Tax planning
Keeping more of what you earn
Your practice income, your retirement and investment accounts, and your eventual practice sale are all taxed differently and at different times. Planning, timing, and sequencing matters, which is why we work with you across years rather than one filing at a time, coordinating with your CPA every step of the way.
Insurance & risk management planning
What if you can’t practice anymore?
Every dollar spent on an insurance policy you don’t use is one less in your retirement account. Insurance exists to protect you against risk you can’t afford, something that changes throughout your career. We don’t sell insurance or accept any commissions, so when we help you determine whether your disability, life, and liability coverage is thin, no longer needed, or are overpaying, we say it with your best interest in mind. Stage of life matters; the size of your portfolio and your ability to self-insure matters. This is a topic that needs to be revisited again and again throughout your career.
Retirement income planning
From practice income to retirement income
Once you stop practicing, your portfolio takes over your monthly paycheck. Aligning your tolerance for risk, spending needs, tax situation and strategy, Social Security, and your investments to deliver is intimidating without a well defined plan, put in place years before you need to rely on it. That’s why we like portfolios to be optimized for income 3–5 years before it’s time to see your last patient, so you can see your new income stream before you rely on it.
Transition planning
Leaving on terms you chose
Selling, bringing on a partner, or winding down slowly are different financial events with different implications for your portfolio and your retirement. We will work with your CPA and transition specialists to help keep you fully appraised of how these decisions impact your retirement well before you are under any pressure to decide.
Estate planning
Leaving the legacy you desire
Beneficiary designations, titling and account structure decide a great deal of what happens to your money, and they sit outside your will. These decisions are never comfortable, but they are essential to make earlier rather than later. We work alongside your attorney to ensure that what you leave behind goes where you want it to, when you want it to, with a tax-efficient profile.
Charitable giving
Giving to charity, not Uncle Sam
What you give, when you give, and from which accounts impacts your taxes, your retirement income, and your estate. We look at appreciated holdings, timing, and the vehicles available to you, so that the same generosity does more for the causes you care about, you, and your loved ones.
Elder care planning
Planning for care
Long-term care, for you, your parents, or a child that needs help is a difficult topic. Although we usually find insurance cost-prohibitive, every situation is different and worthy of a carefully considered plan that takes your unique situation, circumstances, and the medical and life expectancy history of your family into account. This is a plan worth revisiting over time as your circumstances change.
Education planning
Funding school shouldn’t derail your retirement
Whether you are funding education for a child or a grandchild, education and retirement compete for the same dollars, but only one of them can be borrowed for. These decisions are easier to make when you have a more clear understanding of how each impacts your retirement trajectory, timing, and income.