The Real Value of Physician Financial Planning - Beyond Investing

Many physicians associate financial planning primarily with investment management. In this episode, Vestia Partner and CEO Lauren Oschman, CFP®, CDFA® discusses how financial planning for physicians often extends beyond portfolio performance.

Referencing a Vanguard study on the value of financial advice and drawing from real-world conversations with doctors, Lauren outlines several areas where physicians may overlook planning opportunities. These include contract negotiation, Roth IRA and HSA funding strategies, tax efficiency, student loan considerations, mortgage refinancing, disability coverage, life insurance planning, and umbrella liability protection.

Topics discussed include:

• The four components of financial advice identified in a Vanguard study: financial planning value, portfolio value, emotional value, and time value

• How delays in investing can impact long-term outcomes

• The potential long-term effect of differences in physician compensation

• Tax considerations related to Roth IRAs and Health Savings Accounts

• Mortgage rate changes and refinancing considerations

• Insurance and asset protection planning for physicians

This episode provides a framework for understanding how comprehensive physician financial planning may involve coordinated strategies across income, taxes, debt, investments, and risk management.

If you are a physician evaluating your current financial plan or considering working with a financial advisor who specializes in financial planning for physicians, this discussion offers context for what that relationship can include.
For the Vanguard research - https://corporate.vanguard.com/content/dam/corp/research/pdf/how_to_talk_about_the_value_of_advice.pdf
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