Robert Tucker, MD, MBA

If your practice is acquired or part of a merger, you need to decide the fate of your retirement plan. So consider the costs and flexibility of your options.

Knowing the costs of your investments and how those costs relate to your ultimate return is an important part of investor education for physicians.

It makes sense to regularly review your financial goals, decide if you are on a path to meet them, and if you have assembled the best team to help you succeed.

Applying the same evidence-based thinking you use in your medical practice can actually create a more efficient investment portfolio for you personally.

Understanding your spending needs and creating a realistic savings plan is one of the cornerstones of a financial plan for physicians.

Don't lose time you could be managing your practice, seeing patients, or spending time with family to micromanage your finances. Get some outside help instead.

Developing a comprehensive strategy to decrease or transfer risk should be part of every physician's financial plan.

As a physician you must apply the same techniques to management of your personal finances that you would in evaluating and caring for a patient.