At Bayside Tax & Wealth, our mission is to make sure that we take care of the people that we have the utmost respect and admiration for – medical professionals. We understand that the career you’ve chosen is not only demanding, but also unforgiving. We feel passionate about our desire to help you in an area where we take pride in our expertise; an area that we feel is almost as important as the profession in which you assist your patients’ and their need for medical expertise.

Nurses and Doctors work day and night to make life comfortable for their patients and to make sure that that once they leave the hospital they can go back to their daily routine, but we have found they often are not taking steps to take care of their own life and make sure that they are in good (financial) shape.

How we can help

Student Debt Management

Earning your medical license took many years of hard work in school along with a large financial investment. If you are like most medical professionals, you may have student loans. We can help with debt repayment and consolidation options, so you can get back to focusing on the things that matter most to you.

401k and Retirement Savings

It is important to start saving for retirement as soon as you are able. You can save for retirement through a 401k or in an Individual Retirement Account (IRA). If you need help understanding your specific 401k plan, or just want to talk about retirement we can help. We will work with you to run a retirement projection and set up financial goals for your future. We can help determine how much money you should be saving today so that you can retire comfortably in the future.

Life & Disability Insurance

Medical Professionals need the best of life insurance and disability policies. They need a policy that is portable, guaranteed renewable and protects them in their own medical specialty because their livelihood completely depends on their ability to work. While we do not sell any insurance, we can help you determine the right amount of insurance and help you find a policy from a reputable company.

Risk analysis

Medical Professionals need a comprehensive financial advisor, someone who understands disability, medical student loan debt and how to assess risks. At Bayside we evaluate finances holistically and address common questions around timing and payments. We can help you answer questions like:

Do I pay my loans off first?

How much life insurance do I need?

Should I save for my children’s education or for our retirement first?

What debt refinancing program should I look at?

Our Process

Similar to physical health, your financial health requires regular check ups. During the year we have scheduled check ins with our clients to review their investment allocation, income tax projection, reviewing their spending and what ever else may come up during the year. As sample annual calendar may look like this:

January & February

Review Previous Year Spending

Review Investment Allocation

Review Current Year Goals

July & August

Review Year to Date Spending

Update Income Tax Projections

March & April

Prepare Income Taxes

Review Credit Scores

September & October

Review Employer Benefits

Review Estate Planning Documents

May & June

Review Current Insurance Policies

Review Overall Investments

November & December

End of Year Tax Planning