Solutions for Existing
Protecting financial health requires as much vigilance
as protecting physical health.
Annual financial check-ups help protect financial well-being.
Yearly reviews can reveal gaps in insurance coverage and
estate, investment and retirement planning created by a
change in marital status, a growing family, purchase of
major assets such as a home or practice, children who are
entering college, practice expansions, and other life changes—any
of which may require adjustments to your financial portfolio.
ProMed and its Affiliates will evaluate your financial
wellness, both personal and professional, and develop a
unique plan based on where you are and where you want to
be when you retire.
Are you currently overpaying your income tax? The income
loss can show you exactly how much unnecessary tax you are
paying on your income. Click here to take the test.
Lifetime Income Projections
It is critical for you to develop a lifetime income and
estate projection before you consider a sale or transition.
ProMed Solutions can create a projection using all of your
assets, a conservative growth rate, a reasonable inflation
rate then project the asset and estate values out past life
The reason you need to develop the projection is to determine
which assets will generate income and which assets need
to be sold to maintain a constant proactive retirement income
until after life expectancy. You do not want to outlive
your income. Click here for a chart that shows the key components
of a lifetime income and estate projections.
It was once said that once the government imposes a tax
they never take remove it and this is especially true when
it comes to estate taxes.
Estate taxes, also known as a “success tax”,
are imposed when people try to leave property to others
when they die. With 80% of Americans making less than $200,000
a year and the average estate value at $253,000, why should
we even care about estate taxes or probate? Most professionals
have life and disability insurance to cover any potential
death or disability during the years they are practicing.
Life insurance is includable in the estate of the individual
at death. So if you own a practice, a home, have retirement
plans and significant amount of life insurance, your estate
value could be over the current unified credit limit.
Over 80% of Americans have a will but only 3% of Americans
have a living trust. Click here to see what type of estate
plan is right for you.
We look at strategies that protect the principle and provide
Many of our clients invest in nontraditional investments
that are not correlated to the stock market, affected by
economic downturns and are not based on future profitability
of any one group of companies.
We have money managers who employ strategies in both a
bull and a bear market.
ProMed Solutions can educate you to all the alternatives
so that you can choose the right strategy that will allow
you to create and keep personal wealth and retire with financial
As investors, we need to keep in mind the follow four
You should always take the least risky approach to accomplishing
your financial goals. If your goal is to make 3% a year
then you should buy treasuries bills and forget about it.
If your goal is to make 8% to 10% a year you will have to
take more risk.
You should utilize investment approaches that increase
the odds of achieving your financial goals but never take
more risk than is necessary to achieve your financial goals.
These would be guaranteed investments and investments that
are not correlated to the stock and bond market.
Investments should always have forward-thinking asset
allocation. You can make substantial returns in both up-trends
and down-trends of the market by indentifying market conditions
ahead of time and positioning your assets appropriately.
Last but most important, you should make investments were
a zero rate of return annually is the worst return you receive
on your investments. This is important because, the preservation
of your principal is more important than the gains you make
on your investment. Click here to see how to invest safely
with maximum return.