1) You are adequately protected in the event of disability.
Seek a guaranteed renewable policy that protects your specific medical specialty. For many, livelihood depends on the ability to work. (always be 100% clear on the policy’s fine print and conditions)
2) You have a liquid emergency fund to fund your current lifestyle.
The specific amount will vary depending on lifestyle, cost of living, etc. “Liquidity” is essential because it means your money is not tied up in long term investments without access in case of emergency/life changes.
3) You possess a will and medical end-of-life directives.
While this can be an uncomfortable topic for some, it is essential to plan for the unknown; especially if you have a family and/or considerable assets. Make sure they are updated with any life changes.
4) Your investment portfolio is “on track” or “ahead of schedule” based on age and stage of life/career.
Once again, those benchmarks are based on your specific situation. Your advisor can help you determine you are along your ideal path.
5) You have a team of professional advisors working for you.
Choose advisor(s) that are aligned with your goals to ensure you’re working together for success. Ideally, they possess unique knowledge about your specific concerns as a chiropractor; niche advisors with experience within the industry will provide value-added wisdom.
6) You feel knowledgeable and confident about your personal finances.
Ultimately, in order to serve the community at your maximum potential, you must feel in control of your today, well-prepared for tomorrow and confident your “team” (advisors, staff, self) is on track.