We invest an hour understanding the values that drive you in your career and personal life. We identify the significance that money plays in your life and career, and this insight informs the rest of the financial planning process. Like a patient history, this is the most important part of the process. For that reason, it is free and occurs before you commit to becoming a DocEmpowered client. If you decide DocEmpowered is right for you, we move on.

We invest up to two hours gathering necessary financial data (e.g. paystubs, tax statements, bank/investment statements, insurance/benefit statements, etc.) to understand your current financial situation. The purpose of this step is to objectively identify your financial strengths, weaknesses, and blind spots while also helping to make your financial life more organized and manageable.

We invest up to ten one-hour sessions where we analyze your current financial status and provide individualized education, coaching, and mentorship on financial planning issues specific to you as a physician. Example topics may include:

• Sustainable and stress-free cash flow management
• Ensuring fair compensation (relevant MGMA data included)
• Proactive tax planning to maximize your take-home compensation
• Ensuring your investments are evidence-based, manageable, and appropriate for your short-and long-term goals
• Selecting appropriate tax entities for your businesses
• Protecting your income/wealth from loss through insurance or other means of asset protection
• Personalized student loan management strategies
• Educational savings for your children or dependents
• Optimizing use of employee benefits/retirement accounts
• Estate and legacy planning to protect and empower your family and community

We will finish with a final meeting where we present our deliverable to you: A high-yield, easy-to-follow financial plan that will position you for both short- and long-term financial wellness and empowerment as defined by your values. Just like shared decision-making with our patients, we ensure that this plan is both evidence-based and in accordance with your values and goals for the best chance of success.

$8,000. A 20% discounted cost of $6,400 is available for trainees, first-year attendings, full-time academic physicians, and physicians whose student loan balance is more than double their annual physician income (subject to verification).

• Proactive coordination and meetings with your other financial professionals (e.g. accountant, estate planning attorney, etc.)
• Annual Spring meeting to redefine your mission and legacy based on changes in your career/life, and to update your 12-month financial plan accordingly
• Annual Autumn strategy meeting focused specifically on proactive tax planning

These sessions may include:

• Regular meetings to ensure we are making progress on your DocEmpowered Foundation plan
• Addressing unexpected changes in your financial situation or financial law/regulations
• Guidance and walkthroughs of your financial tasks as needed
• Skills-based coaching on critical financial soft skills such as negotiation, presenting an argument, and email communication
• Knowledge-based advising on relevant financial topics as they arise
• Mindset-based counseling to promote financial wellness and harmony with spouses/partners

Must have completed DocEmpowered Foundation to qualify.

$800/month. A 20% discounted cost of $640/month is available for trainees, first-year attendings, full-time academic physicians, and physicians whose student loan balance is more than double their annual physician income (subject to verification).