Physicians, by nature, are driven to fix problems. They experience stress in the workplace when presented with issues around time constraints, technology and regulation that are outside of their ability to address and remedy. A recent Medscape national physician burnout report ranked the highest incidences by specialty:
Physician burnout is widely recognized as a challenge for physicians in both their professional and personal lives. When it first became a widespread issue several years ago, some thought it might be a matter of improving physician resiliency. But advanced specialists, like most physicians, long ago developed an abundance of resiliency.
Reduce professional stress by improving their workplace
Even the most resilient physicians, however, are susceptible to burnout brought on by stressful workplace process. The most common challenges they face involve workflow, autonomy, time constraints, technology and regulations. In addition, stress is increased when physicians don’t feel they are being heard, supported or included in management decision making.
Studies continue to be conducted across health systems and large practices to better understand and reduce the challenges physicians face. Many responsible for physician satisfaction and well-being are using that data to enact best practices in areas like teamwork, reduced clerical tasks and workflow that address the causes of physician burnout. But much of that is outside an individual physician’s sphere of influence.
Reduce personal stress by improving financial planning
One leading cause of personal stress for physicians is something they can control, but often put off doing. Physicians feel stressed by uncertainty over whether they have the right financial plans in place to fulfill their objectives and achieve the goals they have for themselves and their family.
Because financial planning isn’t their expertise, many physicians find themselves unable to evaluate whether their finances are healthy enough to sustain their lifestyle into retirement. They lack the expertise to diagnose where problems may occur. It’s not hard to understand how being unable to provide solutions to fix those problems would increase the stress a physician feels. Or why many physicians procrastinate instead of taking care of their own financial health.
Physician lifestyle planning
We can act to eliminate even years of procrastination and remove that stress you’re feeling. Physician lifestyle planning allows you to be confident of excellent financial health throughout your lifetime, and that of your children and their children.
Partnering with you, we create a financial roadmap customized to your life’s journey. By understanding your family and your needs, we coordinate all the elements of financial planning to build a foundation strong enough to ensure that you achieve your goals and dreams. Instead of having investments, estate planning and retirement, tax savings and other elements operate in silos, we’re able to help you identify and coordinate opportunities to ensure they work in harmony.
To put you ahead of the game and keep you there, physician lifestyle planning will:
Clear out the financial junk drawer that keeps piling up today, tomorrow, the next day, and the day after that.
Go through and review each area of concern to tackle the immediate objectives.
Bring experts into your life as needed to help facilitate your financial success.
Put each of the pieces together to make sure they work in concert with each other.
Educate you at your own pace to become financially literate to the best of your ability.
Give you confidence, knowing your financial health is being managed properly.
Empower you to make decisions and maintain control over your life’s direction.
As one physician told us, “you have helped to take the weight off my shoulders and noose from around my neck.”
Ready to remove some stress? Choosing physician lifestyle planning gives you the ability to work every day with patients and focus on your family, knowing you’ve finally taken the stress of financial planning off of your plate.
Asset Allocation neither assures a profit nor protects against a loss in a declining market. Consult your own personal attorney legal or tax counsel for advice on specific legal and tax matters.