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Investment Strategies to Help You Meet Retirement Goals

By: Gavin Shea

It's critical to begin your financial planning and investment strategies early enough in your career to have a meaningful impact on meeting your retirement goals. Even if you can only save a small amount while you are building your practice, making a plan to invest in your retirement can help ensure you make a difference in the amount of your retirement income.

Here are a number of topics you may want to consider, no matter where you may be in the retirement planning process:

Tax implications

Once you start accumulating assets for your retirement, consult a tax advisor who can help you efficiently manage your investments from a tax perspective*. For example, how can you maximize retirement income? Can you potentially protect your investments from capital gains taxes when transitioning your assets to family members and heirs? Taxes affect all aspects of your financial life, including your investments, real estate acquisitions, equipment purchases, and overall income. Talk to your financial and tax advisor about how you can successfully build and protect your retirement funds.

Insurance requirements

One of the quickest ways to deplete your retirement income is to be underinsured for the unexpected. Will you have sufficient funds should you face a major illness or disability? Will your retirement income cover your needs throughout an exceptionally long life? Consider consulting an insurance professional who can help ensure you are adequately covered with the proper type and amount of health, life and disability insurance.

Estate planning

The truth is, it's never too soon to think about how to utilize and disperse your business, home, and other investments and acquisitions when it comes time to retire. Can your retirement plan be funded through the sale of your business? Does it make sense to take a business equity loan to upgrade your practice prior to retirement? Answering these questions well in advance of retirement can help you meet your income goals. Speak with your financial planner or attorney about creating a long-term plan for putting your assets to work for you when it comes time to retire.

Once you've established a financial goal, you have several options for amassing the assets needed for retirement. Retirement plans - like Simplified Employee Pension IRAs (SEP IRAs) and small business 401(k)s -- if leveraged effectively may help you to accumulate wealth separate from the assets of your business and may provide offer tax benefits*. Other tools, such as non-qualified retirement plans, may help you retain key employees during a transition period, as well as build retirement funds. Deferred compensation arrangements allow a business owner or employees to receive compensation in the future and defer taxes and may be funded with insurance benefits. Consult a financial planner or employee benefit professional who can help you determine which resources are right for you and your business.

Maximizing income, determining withdrawal rates and factoring inflation all come into play when developing an investment plan for retirement. Consult with professionals and develop strategies that can help you address potential risks in fluctuating interest rates, markets, business laws, tax laws, employment and public policies. Because these are complex issues that can evolve over time, it is critical to employ the services of a professional financial and tax advisor to understand how you can build, utilize and protect your retirement assets.

*Wells Fargo Practice Finance does not provide tax advice. Please consult your tax advisor to determine how this information may apply to your own situation.

About the Author

Gavin Shea is the National Director, Healthcare for Wells Fargo Practice Finance. With more than 17 years of banking experience with an emphasis in practice lending, he leads sales and marketing strategy development and implementation throughout the national footprint. His industry background offers practitioners a unique perspective as they approach some of the most important decisions in their professional lives. With more than 30 years of practice lending experience, Wells Fargo Practice Finance specializes in helping healthcare professionals acquire, start and expand their practices with various financing options and a signature Practice Success Program. Contact: gavin.m.shea@wellsfargo.com or 844-626-4317

View all articles by Gavin Shea


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Wells Fargo Practice Finance is the only practice and commercial real estate lender recommended for members of the American Dental Association.

ADA® is a registered trademark of the American Dental Association. ADA Member Advantage is a service mark of the American Dental Association. ADA Member Advantage is a program brought to you by ADA Business Enterprises, Inc., a wholly owned subsidiary of the American Dental Association.

All financing is subject to credit approval.

Wells Fargo Practice Finance is the only practice and commercial real estate lender recommended for members of the American Dental Association.

All financing is subject to credit approval.

Wells Fargo Practice Finance is the only practice and commercial real estate lender recommended for members of the American Dental Association.

All financing is subject to credit approval.

Wells Fargo Practice Finance is the only practice and commercial real estate lender recommended for members of the American Dental Association.

All financing is subject to credit approval.

Wells Fargo Practice Finance is the only practice and commercial real estate lender recommended for members of the American Dental Association.

All financing is subject to credit approval.

Wells Fargo Practice Finance is the only practice and commercial real estate lender recommended for members of the American Dental Association.

All financing is subject to credit approval.

Wells Fargo Practice Finance is the only practice and commercial real estate lender recommended for members of the American Dental Association.

All financing is subject to credit approval.

Wells Fargo Practice Finance is the only practice and commercial real estate lender recommended for members of the American Dental Association.

All financing is subject to credit approval.

Wells Fargo Practice Finance is the only practice and commercial real estate lender recommended for members of the American Dental Association.

All financing is subject to credit approval.

Wells Fargo Practice Finance is the only practice and commercial real estate lender recommended for members of the American Dental Association.

ADA® is a registered trademark of the American Dental Association. ADA Member Advantage is a service mark of the American Dental Association. ADA Member Advantage is a program brought to you by ADA Business Enterprises, Inc., a wholly owned subsidiary of the American Dental Association.

All financing is subject to credit approval.

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