Medical Professionals

“…They assist with advice and solutions that meet our unique situation…”

This testimonial is from a client of Ballast, Inc. Clients are not compensated for sharing their opinions and experiences with our firm.  Any compensation creates a conflict of interest and any client’s comments may not be representative of any other person’s experience with the firm.

The medical profession creates a unique environment for opportunities and challenges. We understand the different employment structures, insurance challenges, and financial planning solutions for situations like yours. We routinely guide colleagues like you through their career navigation and advise on all aspects of life – professionally and personally – that influence your financial life.

Solutions for Common Opportunities/Challenges
  • Student Loan Reduction Planning
  • Savings vs. Spending vs. Debt
  • High-Debt Reduction Planning
  • Advanced Savings Solutions
  • Lifetime Tax Optimization
Specific Insurance Guidance
  • Malpractice Insurance
  • Own Occupation Disability Insurance
  • Key Man Insurance
  • Insurance Funded Buy/Sell
  • Worker's Compensation & Liability Insurance
Unique Retirement Planning
  • Early Retirement
  • Part-Time Retirement
  • Locums Tenens & Part-Time Retirement
  • Business Sale Proceeds Guidance
  • Sale to Private Equity Analysis
Analysis of Employment Options
  • Hospital vs. Private Practice
  • Employee vs. Owner Employment Structure
  • Academia Opportunities
  • Independent Contractor Advice
  • Locums Tenens
Practice Management Guidance
  • Business Consulting
  • Budgeting & Goal Planning
  • Employer Benefits
  • P&L and Balance Sheet Advice
  • Owner Salary vs. Profit Ratio
Independent Practice Guidance
  • Starting a Practice
  • Advise Real Estate Purchase/Sale
  • Practice Sale/Purchase Structure
  • Buy vs. Rent Equipment Decisions
  • Practice Buy-In Planning
Liability Insurance
  • Homeowners Insurance
  • Auto Insurance
  • Umbrella Insurance Analysis
  • Board Member Insurance
  • Professional Insurance
Cash Flow Planning
  • Allocate to Savings vs. Debt vs. Spending
  • Create and Revise a Budget
  • Establish Strategies for Variable Income
  • Pre-Determine Allocation of Bonuses
  • Establish a Guilt Free Spending Structure
Accountability Partner
  • Set and Monitor Goals
  • Align Spending Habits with Values & Personal Goals
  • Balance Savings with Current Budget
  • Establish Savings for Aspirational Purchases
  • Provide Long-Term Discipline
Personal Finances
  • Job Change Analysis
  • Salary/Bonus Change Planning
  • Transitioning from Two Incomes to One
  • Allocate Bonuses Between Savings and Spending
  • Business/Entrepreneurial Start Up Advice
Financial Leadership
  • Financial Continuity for Surviving Spouse
  • Financial Continuity for Children
  • Establish, Implement, and Monitor a Financial Plan
  • Identifying Areas of Vulnerability from Financial Biases
  • Proactive Financial Guidance
Investment Management
  • Asset Allocation Analysis & Risk Assessment
  • Invest Around Concentrated Stock Positions
  • Portfolio Rebalance
  • Monitor Lifetime Allocation Adjustments
  • Assess New Strategies/Products/Laws
Legacy Planning
  • Review Bequest Planning
  • Inheritance Structures for Next Generation
  • Review Potential Trust Options
  • Lifetime vs. Legacy Gifts Consideration
  • Trust Protection for Younger Generations
Estate Planning
  • Federal Estate Tax Planning/Analysis
  • Intra-Family Loan Planning
  • Funding of Trusts/Re-Titling of Assets
  • Surviving Spouse Planning
  • State Estate Tax Planning/Analysis
Access to a Professional Network
  • CPA/Tax Preparer
  • Estate/Business Attorney
  • Banker/Lender
  • Realtor
  • Insurance Agent
Tax Planning - Income
  • Plan for Current Year Tax Changes
  • Tax Withholding/Payment Guidance
  • Review Annual Tax Return
  • Income Tax and Capital Gains Tax Planning
  • Tax Planning Across Multiple Income Streams
Tax Planning - Lifetime Optimization
  • Roth Conversion Analysis
  • Tax Bracket Management
  • Annual Standard/Itemized Deduction Analysis
  • Identify Individual Risk to Tax Rate Changes in Retirement
  • Lifetime Tax Projections
Tax Planning - Investments
  • Net Investment Income Tax Planning
  • Tax Loss Harvesting Analysis
  • 0% Gains Harvesting
  • Stock Option Planning
  • Restricted Stock Unit Planning
Behavioral Finance
  • Brainstorm & Develop Financial/Life Goals
  • Financial Coaching for Transition to Retirement
  • Identify Biases Towards Money & Personal Finances
  • Support Overcoming Financial Biases
  • Provide Peace of Mind for Financial Freedom
Cash Savings Planning
  • Establish Cash Balance for Short-Term Goals
  • Optimize Returns on Cash Holdings
  • Provide FDIC Insurance Guidance
  • Career/Income Change Plan
  • Establish, Monitor, Analyze Emergency Fund Needs
Monte Carlo Testing
  • Retirement Lifestyle Goal Planning
  • Retirement Cash Flow Analysis
  • Multiple Scenario Planning & Testing
  • Retirement Savings Analysis
  • RMD Planning/Execution
Employee Benefits Planning
  • Open Enrollment Planning
  • Group Insurance vs. Individually Owned Insurance
  • Retirement Plan Analysis
  • Employee Stock Purchase Plan Analysis
  • Analyze Fringe Benefits
Health Insurance
  • HDHP with HSA vs Low-Deductible Health Insurance
  • Medicare Analysis
  • Invest HSA Funds
  • Evaluate Employer Health Insurance & Medicare
  • Align Years of High Medical Costs with a Low-Deductible Plan
Insurance Planning
  • Life Insurance Coverage Needs Assessment
  • Analyze Existing Permanent Insurance
  • Long-Term Care Insurance Analysis
  • Disability Insurance
  • Umbrella Insurance Analysis
Social Security
  • Income Timing
  • Spousal Benefits Planning
  • Guidance on Long-Term Risks Associated with Claiming Decisions
  • Legal Changes to Benefits
  • Special Use Income Targeting Strategy


To learn more about ways we can help, visit our Resources page or schedule a call.