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Private Practice Owners/Self Employed

For practice owners and self-employed physicians, managing finances presents unique challenges. Our offer tailored guidance on assessing progress toward financial goals specific to your entrepreneurial endeavors. We delve into implementing tax-efficient strategies, like tax-loss harvesting, designed to optimize savings for high-earning individuals.

Questions Private Practice Owners/Self Employed Often Have

COMMON PAIN POINTS WE TREAT

  • Have I developed an exit plan for myself and any other owners of the company?
  • Am I effectively recruiting, retaining, and rewarding key employees?
  • Do I provide an enhanced executive benefits program for key employees?
  • Do I offer a competitive and cost-efficient employee benefit program, including group benefits?
  • Is my business protected from the death or disability of a key employee?
  • Will I receive payment for business expenses if I were to become disabled?

  • Are my personally guaranteed business loans or leases protected?
  • Have I planned for the potential long-term care needs of my family and my employees?
  • Have I developed an investment strategy for retirement plans?
  • Do I have a plan to preserve my assets for the next generation?
  • Have I evaluated my investment portfolio?
  • Have I ensured credit for business expansion?
  • Is my business helping to fund my personal financial goals, such as retirement or college?

Ways We Assist

Business Owners

  • Key employee protection
  • Succession Planning
  • Asset distribution
  • Legacy Protection

Key Employees

  • Disability income planning
  • Long-term care planning
  • Life Insurance benefits
  • Non-qualified retirement plans

All Employees

  • Health, dental and vision insurance*
  • Disability income planning
  • Long-term care planning
  • Life insurance benefits
  • Qualified retirement plans

Personal Financial Security

  • Retirement planning
  • Income protection
  • Wealth accumulation
  • Estate maximation

Families

  • Education funding
  • Survivor income
  • Leaving a legacy

*Northwestern Mutual representatives offer access to group health, dental, vision and an array of employee benefit solutions through local and independently owned companies that are not subsidiaries or affiliates of Northwestern Mutual

We’ll answer all these questions and provide you with the resources and connections you need to take the stress off your shoulders. Specializing in professionals just like you we understand the options and decisions you are facing and can not only share real life examples of what some of our other clients have done but also connect you to all the resources to navigate each step successfully.

Illustration of Impact

We'll explore tax-efficient strategies, such as establishing a defined benefit pension plan or setting up generational planning with your heirs, to reduce your taxable income while simultaneously saving for retirement and medical expenses.