The Physician's Checklist
Before diving into another market update or financial article, take a quick moment to pause and think about your own situation. We spend so much time caring for others that it’s easy to put our own financial clarity on autopilot. These questions below are simple, but they can reveal a lot about whether your finances are truly supporting the life you want both now and in the future. There’s no right or wrong choice, just answer honestly and see what comes up.
I recently spoke with someone who shared a questionnaire they’ve used for years in their business. As I read through it, I realized it was a great framework for stepping back and evaluating your own financial picture, whether you work with a financial advisor or manage things on your own. Think of this as a quick check-in, not a test.
The only instruction: answer each question with a simple “Yes” or “No.”
- I know exactly how much I pay my financial advisor, including all investment-related fees.
- My financial advisor is proactive, and we meet quarterly without me having to track them down.
- I am comfortable knowing that if something happens to me, my spouse could handle our finances without missing a beat.
- I am clear about my Vision of an Ideal Future. You know, “Money’s purpose in my life is to…”
- I am presently living my Vision of an Ideal Future.
- I have a clear picture of the legacy I want to leave behind.
- I have a solid plan to avoid tipping Uncle Sam more than necessary in taxes.
- I know my financial advisor is a fiduciary and puts my interests first 100% of the time.
- I am confident my financial advisor specializes in working with physicians, and not 13 other specialties
Now that you’re at the end, take a moment to reflect on your answers. If you found yourself answering “No” three or more times, it may be worth having a complimentary conversation. Sometimes a simple outside perspective can bring clarity and confidence. Let’s start the New Year knowing your finances are aligned, intentional, and truly working for you.