Case Studies: Medical Professionals
Age: 29
Profession: Certified Registered Nurse Anesthetist
Background
Client began working with Barrister after graduating from a graduate CRNA program. Goals included paying off student loans, maximizing employee benefits, saving for a home, planning for retirement, and eventually working as a contract CRNA.
Results
As part of creating a comprehensive financial plan, we assisted in consolidating students loans under a fixed 3% rate. We reviewed all employee benefits and found our client needed to purchase an individual disability policy outside of their group coverage because the group plan only covered their own occupation for 24 months. Because the employer offered a non-elective contribution, we were able to model how much contribution to the retirement plan was needed to save for retirement while still allowing the client to save for a down payment on a home.
Finally, after a few years of experience working as a CRNA, we assisted the client in setting up their own entity where they could contract out their services. This included significant work with their CPA to ensure they had created the proper legal structure, payroll services, and retirement plan for the new entity.
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