Physicians are among the highest earners, but many don’t feel like it. Having already managed large debt burdens on compressed budgets by the time they pay off their student loans and build up to a sizeable income, many physicians learn the value of setting financial goals and seeking professional advice early on.

As retirement age approaches, many physicians begin thinking about whether to retire early or continue working, full- or part-time. Many who choose the former are responding to changes in the healthcare system.

You are about to retire from a long career in your practice, your children are self-supporting and you have paid off your house. That leaves no reason to continue carrying a life insurance policy, right?

Whether you recently finished medical residency or are an established Texas physician, it is never too early to begin thinking about retirement and discussing your future with a financial advisor. While carefree days spent traveling, volunteering or golfing in Florida may seem far off, they become a reality once you have a plan in place. Having an open dialogue and honest conversation about how you envision retirement enables you and your advisor to map out a plan and schedule routine, follow-up visits to ensure you are staying on the right path.