What’s it like to work with us? Read about some of the physicians we’ve helped.
CASE REVIEW: Resident increased income 5x
SITUATION: Helped resident client lock in discount on Long Term Disability Insurance, review hospital employment contracts, set up backdoor Roth contributions, and basic life insurance planning. When client’s income increased 5x as Attending, was hesitant to spend money, unsure of tax planning, wanted to be financial responsible, unsure where to start.
SOLUTION: Educated and helped client establish spending and savings plan, maximized employer benefits, implemented saving/investing strategy, provided clarity on actions for long-term financial independence.
RESULT: Client followed recommendations with money to spare. For the first time ever, took a luxury trip guilt-free, sent photos and gratitude for helping to make this possible.
CASE REVIEW: Private practice partner with scattered assets and early retirement
SITUATION: Client came to us at 60 years old worried would have to work until mid 70s. Unsure what would be needed to maintain desired lifestyle in retirement. Financial assets scattered across many institutions.
SOLUTION: Helped consolidate assets into single platform and created cohesive strategy. Executed In Service Distributions to gain greater control of dollars in work retirement plans which enabled wider selection of investment options. Streamlined investment strategy and eliminated speculative investments under self-management.
RESULT: Relieved client’s financial burden from self managed investments. Designed retirement plan and helped client gain clarity on capacity of financial resources. Client currently on track to retire by 67 and thrilled that doesn’t have to work to mid 70s.
CASE REVIEW: Attending physician with large student loans and a new 1099 job
SITUATION: After completing active military duty, Client came to us as a new attending physician at an academic institution. Had significant federal student loan debt from medical school. Interested in exploring 1099 work.
SOLUTION: Helped implement occupation specific disability insurance, life insurance planning, and back door Roth IRA infrastructure. Educated on public student loan forgiveness program (PSLF) and strategies to plan around forgiveness disqualification. Helped structure correct repayment program and ensure payments were qualified. Analyzed cashflow and tax implications of self-employment work. Reviewed contracts and locum opportunities to project potential income.
RESULT: $200,000 of student loans forgiven after qualifying payments made. Client free to make a move to 1099 work and reports feeling more financially free, earning more and working fewer hours than as a W2. Now discussing insurance planning, strategies to reduce taxable income, savings strategy to cover quarterly tax payments, and retirement plan options.
Welcome to Phase Financial
The testimonials presented may not be representative of the experience of other clients and are not a guarantee of future performance or success.