Doctors who work in a private practice, own a small practice or are independent contractors servicing other medical establishments need to take charge of their own retirement plans. There are many options available for retirement plans, all of which can help a doctor decrease current tax liability and help their savings gather momentum because earnings grow with deferred tax liabilities. Understanding the types of plans available is a first step in determining which are best suited for achieving retirement goals, each plan that are structured for our clients are unique depending on the goals that are established.

When retirement goals and contributions to achieve these goals are done at an early age, the amount of contribution to the established plan will be less, the more a physician waits to put a plan into effect, the higher yearly contributions will have to be.