Hey Doc, Meet Wealth
Baptist Health has partnered with Aptus Financial to bring high-impact financial education to physicians and high earners.
We want you to have the knowledge and tools to understand important financial information and then connect with financial planners ready to help you implement those tools immediately. Watch this video explanation here:
Many physicians come to us asking how much money they need to retire. The answer is “it depends.” How much do you spend? If you spend $100,000 a year, then you would need $2.5 million, and if you spend $250,000 per year, you would need a little over $6 million. The goal in retirement is to be able to maintain the spending and lifestyle enjoyed during working years. Let’s make that happen for you.
First, pay yourself first. The most critical job you have in building wealth is calculating how much you need to save from every paycheck from now until you want to retire. This is your savings rate, or the percentage of your gross income that we recommend to pay yourself first every year in order to retire on your own terms. Here is a brief tutorial that should take no more than 10 minutes to complete.
Second, let’s leverage those savings dollars using the Tax-Efficient Waterfall: One of the best ways to stretch money is through tax-deductible savings or Roth after-tax savings. Don’t let that boring, technical jargon fool you. You are basically using the federal tax code to enhance your savings and get more money than you would otherwise. Here is a brief tutorial of the tax-efficient waterfall for Baptist high earners, and here are several examples of its application.
Third, if you are within 10 years of retirement, let’s get your targeted retirement number: Imagine knowing “your number.” We will meet and run a calculator that can tell you how much money you would need to retire and if you are on track.
Finally, if you have student loans, meet with us. We are experts on Public Service Loan Forgiveness and have had tremendous success with over $5 million forgiven in the past 2 years at Baptist Health and $64 million positioned to be forgiven over the next few years. Many of those were physicians. Opt in here for Project 120, and let’s get started.
Financial health needs occasional check-ins. Book a 30-minute meeting here. Preparation is easy. Just have a recent paystub handy and be able to log into your accounts during the meeting.
Aptus Financial has a national reputation for physician financial education with popular physician financial educators like the White Coat Investor, resident programs like Kaiser Permanente and Cedars Sinai, and many physician groups and societies. This is a unique resource available to you that is paid for by Baptist Health and no cost to you.
You can reach out to us directly with questions at financialwellness@aptusfinancial.com.
We look forward to it!
Warm regards,
Sarah Catherine Gutierrez
CEO, Team Aptus