Excerpted from Article in Physicians Weekly

Market investments offer an excellent opportunity for physicians to earn passive income. However, it is not always easy to determine which investments may be most profitable. As such, many physicians lean on financial planners to select specific investment opportunities. According to medical writer Dr. Naveed Saleh, MD, MS, a type of investment known as index funds may be well-suited for physicians, as they are generally low cost, easy to manage, and well-performing. They provide a wide range of market exposure with only slight portfolio changes.

 

• According to Lewis J. Altfest, PhD, CFP, CFA, CPA, PFS, of Altfest Personal Wealth Management, index funds do not rely on a manager’s expertise, whereas non-index mutual funds choose and promote a research department, an idea, a manager, or the general management entity.

 

• With recession concerns afoot due to inflation, rising interest rates, and the recent demise of certain banking institutions, physicians may be wary of investing in the stock market. According to Altfest, recent decreases in stock prices might present a worthwhile investment opportunity for physicians who do not have a significant amount of money invested in stocks. He suggests taking a conservative approach by keeping money in stocks but not acting until the economy and bank situation are stable.

 

• Altfest also suggests maintaining a material position in Asian emerging markets and quality bonds.

 

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