FINANCIAL PLANNING KEY

Physician's Money Digest, March31 2003, Volume 10, Issue 6

Don't assume you can walk intoa financial planner's office, dumpyour financial records on the desk,and expect the planner to come upwith a financial plan tailored to yourneeds. To ensure that a financialplan meets your expectations, youmust be involved in the process.Among the other common errorsphysicians make when thinkingabout financial planning are:

  • Failing to define financial goals;
  • Forecasting unrealistic returns;
  • Not reviewing the financialplan at least annually; and
  • Confusing financial planningwith retirement or tax planning.