Personal Finance

Isn’t it time you save some of those taxes and turn the value of your practice into a more usable retirement asset?

The product has two roles: helping keep families together and allowing your retirement portfolio to be used for the purpose for which it was intended, namely paying for living during retirement.

Because plan contributions are currently deductible, and the growth on the plan assets is not subject to tax while in the plan, there is an extremely powerful financial incentive to establish and maintain such a plan.

If you're like most physicians, you don't even dedicate one day per month to see how you could reduce your tax liability.

Your investments have done well compared to what?

How can you tell if these professionals are sincere or if they are only interested in finding a way to stick their hands in your wallet?

Your individual investments will respond at different times, dependent on the many factors related to the economic cycle. Knowing that these patterns are cyclical, you must give your portfolio the necessary time to participate in these various cycles.

Most of the ways doctors have been implementing this strategy is very troublesome. This is one area where you must "do it right" or risk extremely costly negative tax consequences.

President Bush may not have succeeded in getting all the tax cuts that he proposed, but the Jobs and Growth Tax Relief Reconciliation Act of 2003 does contain significant tax savings for physicians and other highly compensated individuals.

Monte Carlo process and methods have been used for everything from integral equations to turbulence simulation to aerosol science to chemical combustion. Now it's being used to help people retire successfully.