Managing your finances and your family patrimony requires discipline. Since there’s no magic formula for growing your wealth, it’s important to control your spending.
It’s normal to have debts, especially at the beginning of your career: student or consumer debt, mortgage, etc. Sound management of your loans will help you avoid growing debt or problems repaying it. Sticking to a budget can give you financial peace of mind.
You’ll have to retire one day and sell your practice. These decisions will affect your tax situation and your family. What will your retirement income be? Will selling your investments have a major tax impact? Knowing when and how to decumulate your assets can help you avoid nasty surprises.
Your Wealth Management Advisor can help you make sense of it all and offer you solutions that will make things easier for you.