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5 Keys to Wealth Planning for Young Orthopaedists : what to be thinking about now

This presentation provides essential information on wealth planning for young orthopaedists, covering topics such as protecting income, evaluating job economics, planning debt and cash flow, reducing taxes, and building and protecting wealth.

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5 Keys to Wealth Planning for Young Orthopaedists : what to be thinking about now

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  1. 5 Keys to Wealth Planning for Young Orthopaedists: what to be thinking about now PRESENTED BY: DAVID B. MANDELL, JD, MBA Principal, OJM Group

  2. Disclaimer OJM Group, LLC (“OJM”) is an SEC registered investment adviser with its principal place of business in the State of Ohio. OJM and its representatives are in compliance with the current notice filing and registration requirements imposed upon registered investment advisers by those states in which such notice filing and registration is required. OJM may only transact business in those states in which it is notice filed, or qualifies for an exemption or exclusion from notice filing requirements. For additional information about OJM, including fees and services, send for our disclosure brochure using the contact information provided in this presentation or refer to the Investment Adviser Public Disclosure web site (www.adviserinfo.sec.gov). Information contained in this presentation has been obtained from sources we consider reliable, but its accuracy is not guaranteed. Any opinions expressed are based on the interpretation of data available to OJM and are subject to change at any time without notice. This presentation is for informational purposes only and is not intended as an offer or solicitation for the purchase or sale of a security or the rendering of investment advice.

  3. Disclaimer No client or prospective client should assume that any information presented or made available on or through this presentation, is a receipt of, or a substitute for personalized investment advice. Such advice may only be rendered after the following conditions are met: 1. delivery of our disclosure brochure to you, and 2. execution of an Investment Advisory and/or Financial Planning Agreement between us. This presentation contains general information that is not suitable for everyone. The information contained herein should not be construed as personalized investment advice. Past performance is no guarantee of future results. There is no guarantee that the views and opinions expressed in this presentation will come to pass or that any particular investment strategy or asset class will be profitable. OJM is not engaged in the practice of law and does not provide legal advice. Always consult with an attorney regarding your specific legal situation. The information contained in this presentation is general in nature and should not be acted upon in your specific circumstances without further details and/or professional advice. Contact your personal tax advisor for specific advice related to your tax situation. These recommendations are not intended as a thorough, in-depth analysis of specific issues nor are they sufficient to avoid tax-related penalties.

  4. 1. Protect What You’ve Built • “First, do no harm” • Your ability to earn income over a career • Significant net present value (NPV) • Protect from risks of • Disability – for you and dependents • Death - dependents

  5. 2. Evaluate job economics • Beyond first year salary • Opportunity for bonus • Practice/partner economics, if possible • Benefit plans • Ability to do outside speaking/consulting

  6. 3. Plan debt/saving cash flow • Planning/financial modeling is a crucial part of wealth management from residency to retirement • Failing to plan = plan to fail • Don’t just work hard • At early career stage, debt repayment vs saving/investment • Later, lifestyle vs. saving; allocation among investments

  7. 4. Reduce taxes • Taxes will be come your #1 expense • Most ortho docs have marginal tax rates from 45%-55% • Fewer opportunities than in past, but still exist • Practice and personal tax strategies • Tax diversification

  8. 5. Build & protect wealth • Building wealth ties into… • Financial modeling • Investments – portfolio management • $350m RIA with minimums • Technology allows us to bring this to young docs • Long term tax diversification • Asset protection also become key

  9. NEXT STEPS GET FREE BOOKS, ENEWSLETTER, CONSULT CONTACT INFORMATION: DAVID B. MANDELL 877.656.4362 mandell@ojmgroup.com www.ojmgroup.com

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