Support our online development, and advance our onground research initiatives in free market economics, as we seek to showcase the brightest Next-Gen minds.
THE ME-P DISCLAIMER: Posts, comments and opinions do not necessarily represent iMBA, Inc., but become our property after submission. Copyright © 2006 to-date. iMBA, Inc allows colleges, universities, medical and financial professionals and related clinics, hospitals and non-profit healthcare organizations to distribute our proprietary essays, photos, videos, audios and other documents; etc. However, please review copyright and usage information for each individual asset before submission to us, and/or placement on your publication or web site. Attestation references, citations and/or back-links are required. All other assets are property of the individual copyright holder.
Physician Retirement Planning – in the news – too!
[Reprinted from Medical News, Inc.]
By Ann Miller RN MHA
[Executive-Director]
Our ME-P Founder and Publisher-in-Chief, Dr. David Edward Marcinko FACFAS, MBA, CMP™, was recently interviewed by investigative reporter Sharon H. Fitzgerald of the Medical News magazine and newspaper for physicians. Here is a synopsis and copy of that article, along with the words of financial advisor Mr. Paul Larson, CFP™.
Physicians Have Unique Challenges and Opportunities
Physicians today “are getting squeezed from both ends” when it comes to their finances, according Mr. Larson, president of Larson Financial Group. On one end, collections and reimbursements are down; on the other end, taxes are up.
That’s why financial planning, including a far-sighted strategy for retirement, is a necessity.
CEO – Institute of Medical Business Advisors, Inc
Dr. Marcinko’s retirement investment advice – and it’s the same iMBA Inc advice he gives to anyone – is to invest first [fifteen] 15, and then [twenty] 20 percent [%], of your income in a world-wide indexed mutual fund for the next 50 [fifty] years, or so!
“We all want to make it more complicated than it is, don’t we?” he said.
Assessment
Link: http://www.medicalnewsinc.com/retirement-and-succession-planning-cms-351
About Medical News
With a professional readership composed of physicians and key industry decision makers, the Medical News magazine and paper is the only local professional publication devoted entirely to healthcare issues that impact both clinical and administrative best practices. Monthly focus features on a variety of clinical and business topics allow the Medical News to zero in on medical advances, regulatory issues and innovative ways to enhance reader’s bottom line.
Channel Surfing the ME-P
Have you visited our other topic channels? Established to facilitate idea exchange and link our community together, the value of these topics is dependent upon your input. Please take a minute to visit. And, to prevent that annoying spam, we ask that you register. It is fast, free and secure.
Conclusion
Your thoughts and comments on this ME-P are appreciated. Feel free to review our top-left column, and top-right sidebar materials, links, URLs and related websites, too. Then, subscribe to the ME-P. It is fast, free and secure.
Speaker: If you need a moderator or speaker for an upcoming event, Dr. David E. Marcinko; MBA – Publisher-in-Chief of the Medical Executive-Post – is available for seminar or speaking engagements. Contact: MarcinkoAdvisors@msn.com
OUR OTHER PRINT BOOKS AND RELATED INFORMATION SOURCES:
- PRACTICES: www.BusinessofMedicalPractice.com
- HOSPITALS: http://www.crcpress.com/product/isbn/9781466558731
- CLINICS: http://www.crcpress.com/product/isbn/9781439879900
- ADVISORS: www.CertifiedMedicalPlanner.org
- FINANCE: Financial Planning for Physicians and Advisors
- INSURANCE: Risk Management and Insurance Strategies for Physicians and Advisors
- Dictionary of Health Economics and Finance
- Dictionary of Health Information Technology and Security
- Dictionary of Health Insurance and Managed Care
Share this:
Filed under: Alerts Sign-Up, Interviews, Investing, Media Mentions and PR, Practice Management, Retirement and Benefits, Touring with Marcinko | Tagged: david marcinko, doctors financial planning, Medical News, Paul Larson, physician investing, physician succession planning, Sharon H. Fitzgerald |
The Leading Business Education Network for Doctors, Financial Advisors and Health Industry Consultants 
Retirement Spending?
Dr. Marcinko – It’s no secret to the financial advisor community [anyone] that the baby boomers are entering the traditional age for retirement this year. En masse, their primary financial mindset must shift from a lifetime of building wealth to a relatively ill-defined but likely lengthy period of spending as much of it as is prudent … while sustaining some level of wealth in the process; especially for doctors … but how?
http://www.fa-mag.com/online-extras/7511-retirement-planning-needs-bengen-and-swenson-models.html
Good interview, BTW.
Clyde
LikeLike
More on 403(b) Retirement Plans
Many thanks for this article, Dr. Marcinko. Here’s more on 403(b) plans for physicians.
http://physiciansmoneydigest.com/blogs/physicians-wealth-manager/06-2011/403b-Plans-Participate-or-Not
And remember, unlike 401(k) plans, administrators of a 403(b) are not considered fiduciaries — therefore, they have no legal or ethical obligation to monitor the plans to ensure that they serve in the best interest of the participants.
Randy
LikeLike
How to Succeed at Succession Planning?
The above post with Dr. Marcinko was sure interesting – to physicians. But, what about financial advisors?
Bruce
LikeLike
Bruce,
Good point!
Financial advisors build careers advising others on how best to handle the big challenges in life. Whether that’s accumulating money for retirement, creating investment plans that balance risk tolerance with opportunities for growth or securing a sound financial future for their families.
So, here is one opinion for their succession planning.
http://registeredrep.com/first_clearing/succession-planning-success.html
Hope R. Hetico RN MHA
LikeLike
Planning for succession
Many medical practices are facing a succession crisis and either don’t realize it, haven’t acknowledged it or, perhaps worse, aren’t willing to fix it.
http://www.physbiztech.com/best-practices/business/planning-succession-and-leadership-training?email=MARCINKOADVISORS@MSN.COM&GroupID=116654
Is there a new group of doctors willing and able to take the reins when the time comes at your practice? If the answer is no, it’s time to create a formal leadership training and succession plan.
Hope Rachel Hetico RN MHA
http://www.BusinessofMedicalPractice.com
LikeLike