Financial Planning for Physicians

Your expertise is medicine. Ours is helping physicians navigate the financial decisions that accompany a successful career.

Success Creates Complexity. Planning Creates Confidence.

As your income grows, so does the complexity of your financial life. Balancing debt versus saving or investing, rising tax exposure, and competing priorities make it harder to stay organized, let alone feel confident you're making the right moves.

Your time is limited, too. Between patient care, administrative work, and life outside the hospital, financial decisions often get delayed, handled reactively, or split across professionals with no clear plan tying them together.

A coordinated approach can help uncover potential blind spots, bring competing priorities into focus, and create a more organized path toward your financial goals.

Who We Serve Best

Since 1957, Spaugh Dameron Tenny has been devoted to helping physicians who want a more coordinated approach to financial planning. The clients we serve best are often:

Physicians from fellowship through retirement
High earners facing increasing tax complexity
Those managing several financial priorities at once
Physicians with limited time to coordinate financial decisions
People seeking thoughtful, comprehensive planning rather than one-off advice

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Common Financial Concerns for Physicians

Income & Tax Complexity

Multiple income streams across W-2, bonuses, and 1099 income
A rising tax burden without a clear strategy

Balancing Debt, Saving & Lifestyle

Student loans still present well into your career
Deciding between paying down debt, saving, or investing

Career & Practice Decisions

Evaluating partnership opportunities or surgery center buy-ins
Choosing between private practice, employment, or a transition

Risk & Protection

Determining appropriate disability coverage
Managing liability exposure as income and assets grow

Coordination Fatigue

Working with multiple professionals without one plan
Lack of clarity on what to prioritize next

How We Help Physicians

Income, taxes, retirement, debt, investments, protection, and career decisions rarely exist in isolation. We help bring them together in one comprehensive financial plan.

Income & Cash Flow Planning Across Multiple Sources - Coordinate W-2 income, bonuses, partnership distributions, and 1099 earnings within a unified plan.

Student Loan Strategy, Integrated With Planning - Evaluate repayment alongside retirement savings, investing, taxes, cash flow, and your other financial priorities.

Retirement & Wealth Accumulation Planning - Define what financial independence looks like for you and build a strategy designed to help you get there.

Tax-Aware Investment Strategies - Build portfolios and planning strategies designed to help improve long-term tax efficiency.

Risk Management & Asset Protection - Evaluate disability coverage, liability exposure, and protection strategies as wealth grows.

Career & Practice Decision Support - Understand the financial impact of partnership opportunities, buy-ins, practice transitions, contracts, and other major career decisions.

Coordination of Your Financial Circle - Work alongside your CPA, attorney, contract review specialist, and other professionals to ensure decisions are aligned and implemented.

Explore All Financial Solutions

What You Can Expect Working With Us

We empower you → You will feel in control of your money, instead of your money controlling you.

We give you Guilt-Free Spending™ → You will be able to spend money knowing you have a realistic plan in place for your long-range goals.

We want you to feel like our only client → You will never be put on hold or speak with someone who doesn't know your name.

We educate with plain language → You will understand your financial plan, including the strategy and why it makes sense just for you.

We are accessible → You will be able to reach us every time. Your team is available and ready whenever you need us.

At Spaugh Dameron Tenny, our goal is to make your financial planning journey rewarding, enjoyable, and fully transparent. While we can’t predict every curve in the road, our entire team is dedicated to guiding you through every step with confidence.

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Our Process

We make this simple and convenient, no matter your financial goals or where you live. Meetings can be held over Zoom, in person, by phone, or a combination of all. You’re only a few weeks away from a fully customized, comprehensive financial plan.

Fit & Fact-Finding

We answer your questions, learn about your goals and background, and mutually decide if we can help.

Deep Dive

We review and analyze key financial information.

Education & Strategy

We present our findings and educate you on concepts and strategies that can help.

Execution

We coordinate with your CPA, attorney, and bankers as we implement every step.

Ongoing Planning & Adaptation

At least annually, and more often when life calls for it, with an annual plan refresh and event-driven adjustments.

Frequently Asked Questions

I’m earning more now. Where should I start with financial planning?

Start by understanding what matters most and how your priorities compete for the same resources. We help you organize cash flow, retirement savings, taxes, debt, investing, and protection needs so you can determine what deserves attention first.

Should I pay off my student loans or invest?

Often both, in the right proportion. The mix depends on interest rates, cash flow, taxes, and your long-term goals, so we help you weigh the trade-offs as part of a broader plan rather than a single decision.

Is it normal to still have student loans this far into my career?

Yes. Many physicians carry balances well into their attending years. The key is making sure repayment fits your broader financial strategy.

How do I handle multiple income streams?

We help you organize and plan around each type of income so that tax strategy, savings, and spending stay coordinated rather than reactive.

When does it make sense to buy into a surgery center or building?

It depends on more than the numbers. We help you evaluate how the opportunity fits your broader financial picture and coordinate with your contract review specialist as needed.

Do I need additional disability insurance if I already have coverage through work?

Possibly. Employer coverage can be a good starting point, but it may not fully protect your income or match your individual needs. Spaugh Dameron Tenny helps evaluate the coverage you already have and identify potential gaps.

How can I reduce what I’m paying in taxes?

Every situation is different, and reducing your tax burden isn't always possible. We align income, investments, and timing decisions to identify opportunities where they exist, based on your unique financial picture.

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Let’s Talk

A successful medical career brings more financial choices without making decisions any simpler. Retirement, taxes, debt, career opportunities, investments, and protection all compete for your attention. A coordinated financial plan can bring clarity and confidence to the decisions ahead.

Schedule a complimentary 15-minute introductory call to discuss your goals. Complete the form and a member of our advisory team will reach out shortly.