Monday, December 15, 2014
"Boomer physicians worried about retirement know that time is not on their side," says Vicki Rackner MD, retired surgeon, author and speaker who helps physicians thrive in the era of ObamaCare. "I see smart doctors take desperate financial steps that make matters worse rather than better."
Rackner suggest three strategies for physicians in their 50's and 60's to avoid:
- Denial. "Yes, it's difficult to face an unpleasant truth. However, ignoring financial problems works about as well as ignoring a progressive medical illness."
- High-Risk Speculation. "Physicians interested in catching up with retirement planning may be tempted by high risk investments. Safety must come first."
- Asking the Wrong Person. Many physicians turn to physicians whom they trust for financial advice. She says, "Ask a cardiothoracic surgeon for advice about mitral valves, not mutual funds."
"This is the time for worried physicians to make smart choices." says Rackner. "Few physicians know about proven investment strategies used every day by sophisticated investors like Warren Buffett. Even banks take your money and invest it in financial products that protect against market losses, generate tax-free income and offer a death benefit. Did you know that banks will even loan physicians money so you can finance your retirement, just like you borrow to finance your home with a mortgage?"
She says, "I am not a financial advisor, and I do not sell any financial products. I'm a physician, committed to the alleviation of pain and suffering. I see many physicians in acute financial pain, and I know there are innovative financial solutions. I use them myself."
Rackner encourages physicians to learn about all of their retirement options. "A patient with a dire diagnosis said to me, 'Where there's life, there's hope.' The same is true with financial health."
Vicki Rackner MD is an author, speaker and consultant who helps physicians position themselves for success in the era of ObamaCare. Contact her at (425) 451-3777.
Are you a physicians interested in more information about proven innovative retirement solutions used by sophisticated investors? Go to www.FINANCEDPHYSICIANRETIREMENT.COM to sign up for a free educational video.