Doctor's Lounge
Designed for Physicians. Built for Life.
At Brahman Bros Financial, we understand the unique challenges and opportunities of a medical career. From white coat to retirement, our holistic approach ensures you’re never alone in your financial journey.
Financial Planning Timeline for Physicians
A career-long guide to building, protecting, and preserving wealth.
Medical School
Laying the Foundation
✅ Understand your student loan terms and interest accrual
✅ Create a basic budget and build financial literacy habits
✅ Explore scholarships, grants, and loan forgiveness programs
✅ Set up a Roth IRA
✅ Learn the basics of disability and life insurance
Residency
Protecting Your Future While Earning Modestly
✅ Secure True Own Occupation Disability Insurance (while rates are lowest)
✅ Explore 20% discount on disability insurance programs available to trainees
✅ Review and consolidate student loan repayment strategies
✅ Start an emergency fund
✅ Begin investing with low-cost retirement plans
✅ Consider umbrella liability insurance
Fellowship
Specializing and Strategizing
✅ Re-evaluate disability and life insurance coverage
✅ Continue paying down high-interest loans
✅ Maintain retirement contributions despite limited cash flow
✅ Review long-term goals with a financial advisor
✅ Consider benefits of combining group and individual coverage
Early Attending
(Years 1-5 Post-Training)
Rapid Income Growth & Lifestyle Planning
✅ Maximize contributions to 401(k), 403(b), HSA, and Roth IRA
✅ Create a comprehensive financial plan tailored to your specialty
✅ Establish robust life insurance​
✅ Accelerate student loan repayment or consider PSLF forgiveness
✅Begin saving for home purchase or children’s education​
✅ Protect assets with proper legal and liability structures
✅ Develop a strategy for wealth accumulation and tax mitigation
Mid-Career Physician
(Years 5-20 Post-Training)
Scaling Wealth & Planning for the Long-Term
✅ Optimize investments for growth (brokerage account), tax efficiency, and risk management
✅ Coordinate company benefits and retirement strategies (profit-sharing, defined benefit plans)
✅ Explore advanced tax planning techniques (backdoor Roth, IRA investments, LLC tax deductions, etc.)
✅ Establish estate planning strategies (health proxy, trusts, legacy planning, will)
✅ Evaluate long-term care planning options
Pre-Retirement
(5-10 Years Out)
Securing the Finish Line
✅ Finalize debt payoff strategies and cash flow modeling
✅ Adjust portfolio toward income preservation and volatility protection
✅ Max out retirement contributions and catch-up provisions
✅ Run detailed retirement income projections
✅ Review and update wills, trusts, and POAs
✅ Evaluate exit planning for private practice owners
Retirement
Enjoying the Life You Built
✅ Transition to income distribution planning
✅ Implement tax-efficient withdrawal strategies (Roth conversions, RMDs)
✅ Monitor healthcare and Medicare planning
✅ Reassess asset allocation and long-term care needs
✅ Ensure legacy goals and estate structures are properly implemented
✅ Continue working with a trusted advisor to adjust to lifestyle changes and market conditions