Financial Planning for Physicians | Altruist Wealth Management

Physicians and dentists have unique financial challenges—whether you’re an employee (W-2), a general partner, or self-employed (1099). At Altruist Wealth Management, we tailor financial plans to fit the demands of your profession and your personal goals, guiding you toward long-term financial security.

We Can Help With:

Early Career:

Tackling student loan debt
Building a foundation for financial growth

Mid-Career:

Protecting assets from liability and disability
Maximizing tax-deferred savings and retirement plans
Managing burnout and life work balance

Late Career:

Planning practice succession and buy/sell agreements
Preparing for retirement and legacy goals

Our process considers your professional demands and personal priorities to bring you peace of mind—so you can focus on what matters most.

Altruist Wealth Management diagram showing financial planning process: goals, risk, taxes, estate, cash flow, and investments

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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:

High combined income = significant tax burden.
Unclear retirement savings strategy. Emily’s SEP IRA may not have been the best option for maximizing contributions.
Too many financial priorities. They wanted to save for education, protect their assets, and reach financial independence—all while managing career burnout.

Solutions:

Solo 401(k): Transitioned Emily’s retirement plan to a Solo 401(k), allowing for higher contributions and long-term flexibility.
Tax Optimization: Explored tax-efficient strategies, including backdoor Roth IRA contributions and proactive tax planning for Emily’s business.
Education Savings: Developed a 529 plan strategy to fund their children’s education while balancing cash flow.
Liability Protection: Reviewed and optimized personal and business liability coverage, including umbrella insurance.

Results:

Maximized Retirement Contributions – The Solo 401(k) allowed for significantly higher savings potential than the SEP IRA.
Simplified & Optimized Finances – They now spend less time worrying about their financial structure and more time focusing on their careers and family.
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.