PRACTICAL MATTERS Have You Had a Financial Health Checkup? By Shawn O. Higley, CRPC® YOU HAVE WORKED LONG AND HARD to get to this place, to this moment in time. Years of education, long hours and sacrifice have brought you to this point in your life. Did you arrive here with a burden of school debt still hanging over you? Have you finally overcome the debt and are looking at your retirement with questions? No matter where you are in the cycle, from residency to retirement, you need a diagnostic performed on your financial health so you can enjoy the most out of what you have built or are building. First and foremost, it helps to speak with a professional whose specialty matches your need. Protection What is your most valuable asset? It is your income. Your earning potential over a lifetime is the single greatest asset you have and you must protect it. Your income depends on your ability to perform your job. When looking at disability insurance look for occupational language covering you and your chosen specialty. Liability insurance, business overhead expenses—an insurance professional can help evaluate your needs. Savings Are you still carrying the debt and looking for ways to increase your cash flow? Are you worried about the years spent paying off the debt and not saving enough for retirement? A Financial Planner can help you put your financial health in perspective. They will perform a diagnostic work up of your current finances and take into account your short and long-term goals to come up with the best treatment for your condition. Growth What strategies do you have for growing your retirement income as effective and tax efficient as possible? What risks are you willing to take for the income you hope to generate in the future? Making the most of your retirement years means you must create a regiment geared toward your success using the resources available to you. Spending time with a Financial Advisor to develop a portfolio to provide the retirement income you need, will give you a far greater opportunity to achieve your goals. The demands on your time and expertise are great. Patients come to you for the expertise you provide and to be comforted knowing they have someone looking out for them. Engage financial specialists and rely on their expertise to have someone looking out for you. Shawn O. Higley is Managing Partner at The Partners Group and is an Investment Advisor Representative. This article is for educational purposes only and is not meant to be investment advice. Securities offered through Geneos Wealth Management, Inc. Member FINRA/SIPC Advisory services offered through TPG Financial Advisors, LLC, A Registered Investment Advisory Firm. 32 Medicine in Oregon www.TheOMA.org
OMA Medicine in Oregon Fall 2015
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