Everything you need to know about financial planning for physicians, tech founders, PSLF, equity compensation, and wealth building.
Public Service Loan Forgiveness (PSLF) forgives remaining federal student loan balance after 120 qualifying payments while working full-time for a qualifying employer (nonprofit hospitals, government, etc.). For residents, this means making income-driven payments during residency/fellowship (when income is low) counts toward the 120 payments. After 10 years of qualifying payments, remaining balance is forgiven tax-free. The key is choosing the right repayment plan and certifying employment annually.
Most residents should prioritize building a $5,000-$10,000 emergency fund and contributing enough to employer retirement plans to get any match. Beyond that, focus on minimizing student loan payments (if pursuing PSLF) rather than aggressive saving. Your attending years are when serious wealth building begins. If you're not pursuing PSLF and have high-interest private loans, aggressive loan paydown may make sense over additional investing.
Qualified Small Business Stock (QSBS) allows you to exclude up to $10 million in capital gains from federal taxes when you sell stock in certain early-stage companies. If you're a startup founder or early employee with equity, QSBS can save you millions in taxes. Requirements: company must be a C-corp, under $50M in assets when stock issued, you must hold for 5+ years, and the company must be in a qualified business. Tech founders should absolutely care about QSBS planning.
Exit planning involves: understanding your equity structure (ISOs, NSOs, RSUs), tax implications of different exit scenarios, diversification strategy post-liquidity, estate planning updates, charitable giving strategy (donor-advised funds, QSBS donations), and lifestyle/spending plan adjustments. Ideally, start planning 12-18 months before expected exit. Post-exit, don't rush decisions - take time to build a comprehensive wealth plan before making major moves.
Fee-only advisors are compensated directly by clients (flat fee, hourly, or percentage of assets). No commissions from product sales, no hidden incentives. Commission-based advisors earn money by selling financial products (insurance, mutual funds, annuities), creating potential conflicts of interest. I'm fee-only, meaning my only incentive is giving you advice that serves your best interest, not selling products.
It depends on your situation. If pursuing PSLF, paying extra is throwing away forgiveness - invest instead. If you have federal loans at 3-4% and can earn 7-10% in markets long-term, investing makes mathematical sense. If you have private loans at 7%+, paying down aggressively may be optimal. Also consider: emergency fund status, employer retirement match (always get the match first), and your personal risk tolerance. We can model your specific scenario.
Yes, especially if you're pursuing PSLF or have complex student loan situations. The decisions you make during residency (loan consolidation, repayment plan choice, spousal loan strategy) can cost you tens of thousands if done wrong. PSLF mistakes are often irreversible. Even if you don't need ongoing advisory, a one-time plan during residency can save significant money and stress.
Perfect time to plan. Pre-liquidity is when you have most control over tax strategy. Key planning areas: ISO exercise strategy and AMT management, 83(b) elections for early exercise, QSBS qualification timeline, concentrated stock position risk, and tax-efficient diversification approach. Having a plan before liquidity event prevents rushed, emotional decisions and can save hundreds of thousands in taxes.
High income doesn't equal wealth without a plan. Common issues: taxes eating 35-45% of income without optimization, lifestyle inflation matching income growth, lack of investment strategy beyond 401(k), no coordination across accounts (401(k), taxable, RSUs, etc.), and uncertainty leading to cash hoarding. You're likely losing money to taxes, poor investment strategy, or paralysis. Let's fix that with a clear plan.
Robo-advisors provide automated portfolio management - they can't help with ISO exercise strategy, PSLF planning, liquidity event tax optimization, complex coordination across equity comp and retirement accounts, or comprehensive financial planning. This is strategic planning for complex situations, not just automated investing. If your financial life is simple (W-2 income, no debt, straightforward investing), a robo-advisor might work. If you have equity comp, student loans, or complex tax situations, you need strategic planning.
I'm fee-only (no commissions or product sales). Fee structure depends on complexity: flat fee for financial plans, ongoing retainer for comprehensive planning and investment management, or hourly for specific questions. Specific fees discussed during initial consultation based on your situation. No surprise fees, no hidden costs, complete transparency.
No, I work with clients nationally through secure remote collaboration. I'm based in Michigan but serve physicians, founders, and professionals across the US. Virtual meetings via Zoom, secure document sharing, and digital signature for paperwork make remote planning seamless.
The first 30-minute conversation is exploratory and no-pressure. We'll discuss: your current financial situation, what's keeping you up at night about money, your goals and timeline, whether we're a good fit. No sales pitch, no obligation. If we both think there's a fit, I'll outline how we'd work together and what the process looks like. If not, I'll point you toward better resources.
Yes, equity compensation planning is a core specialty. I help with: RSU tax withholding strategy and timing, ISO vs NSO analysis and exercise planning, AMT (Alternative Minimum Tax) management, ESPPs (Employee Stock Purchase Plans), concentrated stock position management, and tax-efficient diversification. Having worked in tech and understanding cap tables firsthand, I speak your language.
Quick questions are welcome - email me via the contact form or schedule a brief intro call. For isolated questions that don't need ongoing planning, I offer hourly consulting. For more comprehensive situations, we'd discuss ongoing planning relationships.
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