Mastering Money for Doctors

James M. Dahle, MD, FACEP, wrote an excellent article in Medical Economics about money and doctors. He argues that most doctors (and other folks) do not master the five lifetime money activities of proper money management. Some are good at a few activities but bad or terrible at others. Failure on a few of these essential money skills could ruin retirement, children's college education, and legacy giving plans. Dr. Dahle offers sound advice on these 5 lifetime money skills:

1. Earning,

2. Saving,

3. Investing,

4. Spending, and

5. Giving.

At Crimson Cardinal Healthcare Intermediary, we assist doctors in selling their practices when it makes personal and financial sense. It is important to understand how selling your practice and these 5 lifetime money skills complement each other. Read the article here. With this knowledge, you will be able to make better decisions when it comes time to sell your practice. We recommend working with a certified financial planner to assist you in these matters.