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Business & Profession Practice Management

Residency to Retirement: Part Two

At a Glance

  • Financial advisors David Mandell and Carole Foos offer four key pieces of advice to ophthalmologists in the middle of their career
  • Medical malpractice is a physician’s leading source of liability, so it is essential that doctors leverage their insurance, legal tools, and exempt assets to protect themselves from lawsuits
  • Choose a suitable financial advisor, whether a broker, bank, automated investment management, or registered investment advisor
  • When approaching retirement, de-risk investments by reallocating assets into increasingly conservative investments to best limit their exposure to loss
  • Practice owner? Learn simple exit strategy basics – from implementing a systems-based practice to recruiting a younger ophthalmologist.

In writing this two-part article, we faced a challenge – there is simply not enough space to discuss every important planning area, such as retirement modeling, asset protection and estate planning. But what we have included are the essentials. In the first installment, we focused on selected topics for young physicians. In this article, we will discuss topics relevant for ophthalmologists in the middle part of their career and those approaching retirement. Specifically, we will cover protecting assets from lawsuits, choosing a financial advisor, de-risking retirement assets and exit strategy basics for practice owners. Let us start with mid-practice.

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About the Authors

David B. Mandell

Attorney and author of more than a dozen books for physicians. He is a partner in the wealth management firm OJM Group.


Carole C. Foos

Partner and lead tax consultant at wealth management firm OJM Group.

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