Today's Practice: Changing the Business of Medicine National Edition Q1 2017 | Page 52

FINANCE
Other than Retirement
Wes Flores
Of Eggs and Baskets
Just as with your retirement , you probably shouldn ’ t go all in saving for college through a 529 plan . It ’ s a great tool , but again , consider a general investment account with investments designated for college as a supplement . This will give you more flexibility , as 529 plans can only be used for qualified education expenses . If the funds are withdrawn for reasons other than for qualified education expenses , the earnings will be taxed as income plus a 10 percent penalty .
Remembering Why You Work
Wes Flores
Insurance & Risk Management Officer Afferent Provider Solutions
Wes Flores has nearly two decades of experience in the insurance industry as a field director , managing associate and in private practice . He has developed insurance and financial strategies for hundreds of physicians and other medical professionals . Wes specializes in helping clients with comprehensive planning , taking into account each client ’ s total financial picture in order to provide a sound plan addressing all of his or her needs .
Being financially successful should be about more than having a comfortable retirement . As a medical professional , you are keenly aware that lives can be altered forever in a moment . So don ’ t feel like you have to wait to retire to enjoy your success . With the right strategies , you don ’ t .
51 TODAY ’ S PRACTICE : CHANGING THE BUSINESS OF MEDICINE