Doctors and Medical Professionals
As a doctor or other medical professional, you may expect a high income later in your career. However, most start with significant student loan debt. In addition to paying off that debt, medical professionals often look for financial assistance with:
- Income management
- Tax minimization strategies
- Catch-up retirement savings
- Asset protection from possible litigation
At HSC Wealth Advisors, we help you manage your income and debts, plan for retirement and reduce taxes with contributions to tax-advantaged retirement accounts, and recommend disability and life insurance to protect your income potential. When you work with HSC Wealth Advisors, you feel secure in your financial future and can keep your focus on your patients.
Framatome and BWXT Employees
We’re also familiar with the major employers in Lynchburg, including Framatome and BWXT, and their retirement plans. If you work for these businesses, understanding their specific company benefits, such as 401(k) programs, pensions, and stock options, can be complicated.
HSC Wealth Advisors can help you create a personalized financial plan to maximize retirement benefits with tax-advantaged accounts. We provide an in-depth analysis of the options, including a lump sum vs. pension comparison, and build a customized investment strategy to help you achieve a comfortable, fulfilling retirement.
Widows and Widowers
After the loss of your spouse, you want to be surrounded by people you trust. You’ll likely be facing major financial decisions and may be taking control of your household finances for the first time. Working with a fiduciary financial advisor can help you achieve financial security and clarity.
Our client-focused wealth management approach means you get a patient, empathetic partner in an emotional but often time-sensitive situation. The main priority is to organize finances, create a new budget, and delay irreversible decisions. We help you understand any new income sources, such as life insurance, survivor benefits, or Social Security options. Surviving spouses often have more options regarding Social Security benefits and retirement account rollovers than nonspouse beneficiaries, and understanding the rules can significantly affect your long-term financial stability.
With our compassionate, personalized guidance, you can feel confident and secure in your financial future.
Liberty University
HSC Wealth Advisors partners with Liberty University to help its faculty and staff. Contact us for more information on how we serve academic institutions.
Business owners
If you’re a business owner, your company and personal finances may be closely aligned, even if they are technically separate. Depending on the business type, cash flow may be irregular and much of your individual wealth may be tied to the business.
At HSC Wealth Advisors, we help business owners build wealth outside of the company, whether that’s through tax-advantaged savings accounts or converting business equity into a reliable income or liquid assets. Our holistic financial planning strategies include creating an exit or succession plan for the business and coordinating estate planning regarding the company.
We can also maximize tax savings, provide advice on buy-sell agreements, and establish qualified retirement plans for employees. Depending on the business size, the best option could be a traditional 401(k), a SIMPLE IRA, an SEP IRA, or a Solo 401(k).
Ultimately, the goal is to provide financial security for the business, you as the business owner, and your family.
University Professionals
Faculty and staff in higher education institutions have unique financial needs. If you work for a university, you should understand industry-specific retirement plans, such as 403(b)s or 457 plans, and how tenure can affect your long-term financial security. You may also have opportunities for deferred compensation or phased retirement that complicate retirement planning and require care to maximize the value of all your options.
We can help you align your retirement goals with your university pension plan, choose medical retirement benefits, and analyze Roth conversion options. We also have experience with Liberty University in particular and can help you navigate the university’s benefits. A personalized financial plan can allow you to maximize university benefits and personal investments, creating a steady income in retirement and setting you up for a secure financial future.
Retirees
When you’re ready to retire, your financial strategy will shift from accumulating assets to creating a sustainable income stream. However you plan to spend your retirement savings, outliving your money may be a serious concern.
Our tailored financial planning services can help you maximize your savings, protect your assets, and plan a reliable income. We work with you to manage investments and required minimum distributions (RMDs), optimize Social Security benefits, and prepare for rising health care costs.
Partner with HSC Wealth Advisors for a comfortable, fulfilling retirement.