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    5 reasons that prevent eyeMDs from being happier

     

    3)  Lamenting and stressing over investments

    The best advice we can give to avoid this reason is to have a written plan. This includes a written investment policy statement, a written description of your goals and aspirations, a realistic expectation for a rate of return on your investment portfolio, an analysis showing and tracking the probability of success of your plan, and knowing you are on target.

    Ask–and have the answers to–the following questions: When will I retire? How will I educate my children? Can I have a second home? How much will I need in retirement? How can I plan for long-term care? Am I taking too much or too little risk in my portfolio? Am I saving too much or too little? Is my portfolio diversified properly? Is it efficient? Do I have a will? Is my estate set up properly?

    The bottom line: Physicians don’t need to add another worry to their life. To avoid such worry, organize your financial life. A month-long effort should give a lifetime of security and peace of mind. This being done, you can move on with your profession, your life, and not look back.

    With a written plan, you have a plan to implement and monitor, making changes as they occur in your life or your portfolio. Investing should not be a fragmented, piecemeal process, nor a static one.

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