Solutions for Existing Practices

Protecting financial health requires as much vigilance as protecting physical health.

Annual financial check-ups help protect financial well-being. Yearly reviews can reveal gaps in insurance coverage and estate, investment and retirement planning created by a change in marital status, a growing family, purchase of major assets such as a home or practice, children who are entering college, practice expansions, and other life changes—any of which may require adjustments to your financial portfolio.

ProMed and its Affiliates will evaluate your financial wellness, both personal and professional, and develop a unique plan based on where you are and where you want to be when you retire.

Tax Reduction

Are you currently overpaying your income tax? The income loss can show you exactly how much unnecessary tax you are paying on your income. Click here to take the test.
Lifetime Income Projections

It is critical for you to develop a lifetime income and estate projection before you consider a sale or transition. ProMed Solutions can create a projection using all of your assets, a conservative growth rate, a reasonable inflation rate then project the asset and estate values out past life expectancy.

The reason you need to develop the projection is to determine which assets will generate income and which assets need to be sold to maintain a constant proactive retirement income until after life expectancy. You do not want to outlive your income. Click here for a chart that shows the key components of a lifetime income and estate projections.

Estate Planning

It was once said that once the government imposes a tax they never take remove it and this is especially true when it comes to estate taxes.

Estate taxes, also known as a “success tax”, are imposed when people try to leave property to others when they die. With 80% of Americans making less than $200,000 a year and the average estate value at $253,000, why should we even care about estate taxes or probate? Most professionals have life and disability insurance to cover any potential death or disability during the years they are practicing. Life insurance is includable in the estate of the individual at death. So if you own a practice, a home, have retirement plans and significant amount of life insurance, your estate value could be over the current unified credit limit.

Over 80% of Americans have a will but only 3% of Americans have a living trust. Click here to see what type of estate plan is right for you.

Retirement Planning

We look at strategies that protect the principle and provide guaranteed returns.

Many of our clients invest in nontraditional investments that are not correlated to the stock market, affected by economic downturns and are not based on future profitability of any one group of companies.

We have money managers who employ strategies in both a bull and a bear market.
ProMed Solutions can educate you to all the alternatives so that you can choose the right strategy that will allow you to create and keep personal wealth and retire with financial freedom

Investment Planning

As investors, we need to keep in mind the follow four principles

You should always take the least risky approach to accomplishing your financial goals. If your goal is to make 3% a year then you should buy treasuries bills and forget about it. If your goal is to make 8% to 10% a year you will have to take more risk.

You should utilize investment approaches that increase the odds of achieving your financial goals but never take more risk than is necessary to achieve your financial goals. These would be guaranteed investments and investments that are not correlated to the stock and bond market.

Investments should always have forward-thinking asset allocation. You can make substantial returns in both up-trends and down-trends of the market by indentifying market conditions ahead of time and positioning your assets appropriately.

Last but most important, you should make investments were a zero rate of return annually is the worst return you receive on your investments. This is important because, the preservation of your principal is more important than the gains you make on your investment. Click here to see how to invest safely with maximum return.