Over twenty years of personal and client experience has allowed Sandra Scolari insight into the unique considerations of physicians and the role gender impacts their career and household finances.
Have you ever wondered how being a physician or specifically an emergency medicine physician uniquely positions you financially? The ability to moonlight as residents along with twenty-four hour, seven day a week shift adjustments, allow for a lifestyle other specialties may never know. For those reasons, financial planning decisions for the emergency medicine physician require significant thought and specialized knowledge since the planning process can begin earlier due to increased cash flow.
What are some of the more common early career financial decisions? Employment contract evaluation as either employees or independent contractors; student loan repayment and refinance calculations; home purchases, saving and investment strategies are among the fundamental choices of any budding physician. These initial decisions may require weeks or months to research but ultimately many simply compile by default. Either way, the implemented decisions become the basis of the financial plan.
How does gender influence the planning decisions? Females tend to feel additional obligations towards self, spouse, significant other, children or aging parents. Additional considerations include a single or dual income household, investment style, perception of risk, longevity, leadership, along with friend and family support.
Due to the above decisions, females may have less work experience and advancement, smaller balances in their retirement accounts or not qualify for benefits if willing to accept reduced hours. This will also have rippling effects into equal pay, future raises, Social Security, and the like.
In the financial decision making process, females want to be educated and feel connected to their advisors. Specifically for security of financial advice, they are not attracted to robo-advisor websites with canned or minimum human interaction or online services that are overly ‘girly’.
Why consider Strategic Wealth Horizons and Sandra Scolari?
Sandra Scolari specializes in advising physicians to develop comprehensive financial strategies that encompass debt management, investment analysis, risk management and cash flow allocation as well as retirement, business and estate planning. She utilizes a team approach along with over twenty years of personal experience to create an integrated process of managing her client’s wealth during all phases of their lives. This team is a strategic collaboration of trusted specialist handpicked to support the unique financial concerns of the physicians she serves.
Sandra focuses on the process, rather than the products. She advises clients through her long-term approach to investing, rather than indulging in the latest fad. Ultimately, her process is structured to insure financial stability today and poised for growth in the future. She holds a B.S. in Accounting, a Masters of Business Administration with an emphasis in Personal Finance. She is also a designated Certified Financial Planner ® and Chartered Mutual Fund Counselor®.
Sandra Scolari, MBA, CFP®, CMFC®
Strategic Wealth Horizons, LLC
24255 W 13 Mile Rd, Suite 250
Bingham Farms, MI 48025