Seven Financial Planning Strategies for Physicians

Doctors have added financial planning challenges, such as the necessity of malpractice insurance. Here are seven issues to stay on top of.

A surgeon puts on a surgical mask.
(Image credit: Getty Images)

When my wife became a doctor, I saw the financial challenges that physicians and other medical professionals face due to heavy workloads, long hours and the emotional stress of their jobs. Sadly, many medical professionals, especially doctors, often overlook financial planning. The purpose of this article is to guide physicians in accessing financial resources and strategies that can help safeguard and grow their wealth while minimizing taxes.

1. Navigating student loan repayment

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Nick Guida, Investment Adviser Representative
Founder and CEO, Guidance Wealth Advisors

Nick Guida takes pride in creating a welcoming environment to help affluent individuals, families and foundations gain access to strategies and resources that are custom-built for their particular circumstances. The way Nick envisions the relationships with the people he serves is that they’re the CEO, and he and his firm are the supportive CFO bringing well-vetted resources and advanced tax planning strategies to the table. Nick has demonstrated his industry knowledge by writing articles published by,, Annuity 123 and