Medical Professionals
Specialized financial planning for physicians at every stage of their career.
Physicians dedicate years — often more than a decade — to education and training before reaching their full earning potential. When that moment arrives, the financial decisions made in the first few years can shape your financial security for decades.
The challenge is that the financial world doesn't wait for medical training to end. Student loans accrue. Decisions about home ownership, disability insurance, and investments can't be deferred indefinitely. And yet most physicians finish residency without a financial plan — because there was simply no time to build one during training.
At Altenbach Wealth Management, we specialize in financial planning for physicians. We understand the medical career lifecycle — from resident to attending to partner — and we build plans that work within the realities of that path.
Common financial challenges we help physicians navigate
• Building a savings and investment strategy after years of limited income during training
• Understanding why Own-Occupation (Own Occ) disability insurance is critical — and often misunderstood — for physicians
• Making smart decisions about homeownership versus renting with significant student loan balances
• Advocating effectively when negotiating an employment or partnership physician contract
• Navigating tax planning as income rises sharply after training
• Getting holistic, unbiased guidance — rather than piecemeal advice that misses the bigger picture
How We Help Physicians
Income Protection
• Own-Occupation disability insurance analysis and placement
• Group vs. individual policy comparison
• Coverage during training vs. post-training — understanding the difference
• Business overhead expense protection for physician-owned practices
Contract Review Support
• Understanding compensation structures (salary vs. RVU-based)
• Non-compete clause guidance and implications
• Malpractice tail coverage considerations
• Signing bonus repayment risk analysis
• Partnership track timelines and buy-in planning
Wealth Accumulation
• Tax-efficient investment strategy
• Retirement account optimization (401k, 403b, backdoor Roth IRA)
• Real estate decision support (rent vs. buy analysis)
• Student loan repayment planning — PSLF, IDR, and refinancing comparison
Life & Legacy Planning
• Life insurance needs analysis
• Estate planning coordination
• Business succession for physician-owned practices
• Charitable giving strategies
• Beneficiary designation review
Protecting Your Most Important Asset: Your Income
As a physician, your ability to practice medicine is your greatest financial asset. A true Own-Occupation disability policy ensures that if illness or injury prevents you from practicing your specialty — even if you can work in another capacity — you continue to receive your benefit.
This distinction matters enormously. A generic disability policy that pays only if you cannot work at all is a fundamentally different product from one that protects your specific occupation. For physicians, Own-Occ coverage is not optional — it is essential.
What to look for in a physician disability policy
• True Own-Occupation definition of disability — not "any occupation" or "modified own-occ"
• Specialty-specific coverage (a surgeon who loses hand function should receive full benefit, even if they can still see patients)
• Non-cancelable and guaranteed renewable provisions
• Future increase options — to add coverage as income grows, without new medical underwriting
• Residual/partial disability rider — for partial income loss due to reduced hours or duties
• Cost of living adjustment (COLA) rider for long-term inflation protection
Why Work With a Physician Financial Specialist?
General financial advisors often lack the depth of knowledge required to serve physicians well. The financial planning needs of a physician — from student loan strategy to contract negotiation to Own-Occ insurance — require an advisor who understands the medical career lifecycle.
Andrew Altenbach, CFP® CExP™ RICP®, has built his practice around serving medical professionals at The Bulfinch Group in Needham, MA. From residents navigating their first real paycheck to established attending physicians planning for retirement, we provide guidance tailored to your specific situation — not a generic financial plan with a stethoscope on the cover