The advisors at Emeritus have decades of experience providing financial planning services to physicians who are participants in 403(b) and 457 plans. Many of our physician clients are located in greater Philadelphia, central Pennsylvania, Lehigh Valley, southern New Jersey or Delaware.
Physicians have unique financial planning requirements.
It’s likely your investment journey began relatively late because of your lengthy educational requirements. It may have been further delayed due to significant student or practice debt.
You may also be confronted with additional challenges, like supporting a special needs child or providing financial support to your parents or the parents of your spouse.
Your medical practice is demanding, leaving little time to engage in financial planning, even if you have the experience or inclination to do so. We can help.
When you outsource your financial planning to us, you can be confident you’re dealing with advisors who have counselled many physicians just like you.
We’re intimately familiar with the investments in your 403(b) and 457 retirement accounts, including any annuities that are part of your portfolio.
If so, you face a confusing array of investment options within your retirement plans. If you have excess funds to invest, you’ll need to decide how to allocate those resources in post-tax investments as well.
If you’re nearing retirement, you’ll be confronted with decisions about rolling over and annuitizing your retirement accounts. In our experience, few investors understand how costs and fees impact expected returns.
At Emeritus, we focus on investments with low management fees (typically exchange traded funds).
We pay attention to factors we can control and ignore those we can’t.
We allocate your investments between stocks, bonds and cash so you’re not taking on more risk than is necessary or tolerable.
We globally diversify portfolios to minimize risk.
We defer, mitigate or, when possible, eliminate taxes. Our focus is on returns after taxes.
We don’t engage in activities academic evidence tells us are unlikely to be successful. These include trying to pick stock “winners,” timing the market or finding the next “hot” actively managed mutual fund.
Insurance Issues
Physicians face a number of insurance-related questions unique to their particular situation.
Here are some issues confronting you. We can help.
Our financial planning process addresses this important question. We'll analyze your retirement goals, current assets and savings rate to project your probability of success. Based on the results, your current savings strategy can be adjusted, if needed.
As part of our investment analysis, we work with you to determine an appropriate level of risk. We then make investment recommendations that incorporate global diversification, among other factors.
For all tax related issues, we coordinate with your tax professionals.
There are many ways to reduce your tax burden. For example, maximizing your contributions to employer sponsored plans will lower your taxable income for that year. Depending on the types of accounts you have, some investments may be better suited for tax deferred accounts while tax free investments can be best utilized in taxable accounts.
Mortgage and student loans typically come with lower interest rates and tax benefits. If you have credit card or other debts with higher interest rates then it would be beneficial to pay those off first.
Make sure you are enrolled in your employer plan. Increase your contributions to ensure you receive the maximum employer match. Your contributions should be invested in fund choices that align with your risk tolerance and overall financial plan.
Vacation or second home purchase is a popular topic that is discussed in a financial planning meeting. We will analyze the pros and cons and will provide enough information so you can make an informed decision. Our analysis includes your savings, cash flow and debts, among other issues.
Strategies for charitable giving include donating highly appreciated stock and using donor-advised funds.
With all tax related issues, we coordinate with your tax professionals.
Life insurance can be used for many reasons including income replacement, paying debts, ensuring the financial security of your loved ones and estate tax payments at death. We work with your insurance professionals to determine how much insurance you require and the best type of policy to meet your needs.
Cash which may be needed in the short-term (less than five years) should be invested very conservatively with little or no stock market exposure.
Cash which is part of your long term savings should be added to your retirement portfolio.
One Liberty Place 1650 Market Street, 36th Floor Philadelphia, PA 19103
info@emerituswm.com
267-322-2540
Emeritus Wealth Management has no affiliation with TIAA. The services rendered by Emeritus Wealth Management are not reviewed or approved by TIAA. TIAA is a registered trademark of TIAA.
We help participants in 403(b) retirement plans sponsored by TIAA, Vanguard and Fidelity optimize their investments and plan for the future.
Investment advice offered through Stratos Wealth Advisors, LLC, a Registered Investment Advisor DBA Emeritus Wealth Advisors.
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