FMWC has an exclusive partnership with MD Financial Management (MD) to provide female physicians with comprehensive financial planning and financial education, as well as other types of support.
Owned by the Canadian Medical Association (CMA), MD has a single mandate: to help physicians achieve financial well-being.
MD has a team of MD Advisors dedicated to supporting female physicians at all stages in their careers. For medical students and residents, MD MedEdCounselTM can help with budgeting, cash flow and debt management.
To find out how MD can help, contact an MD Advisor near you.
Female physicians have distinct financial planning issues to consider. In general, women live longer than men do (83 versus 79 years) and are more likely to take time out of their careers for maternity leave and child care.
These two factors mean that female physicians often have fewer earning years than their male counterparts. They need to plan for increased savings or retirement funds.
Here are four steps you can take to ensure you come out ahead:
As a member of the CMA, you have access to objective financial advice from MD Financial Management—regardless of your net worth. Whether you’re a medical student drowning in debt, a resident just starting to accumulate assets, or a practising physician looking to incorporate, an MD Advisor can assess your situation and develop a financial plan to meet your needs.
Establishing a budget, analyzing your cash flow and/or creating a savings plan will go a long way in helping you manage your debt, build your assets and meet your financial goals. There are tools you can use to stay on top of your financial well-being.
Whether you’re a medical student, resident or practising physician, your ability to earn income (both now and in the future) is your most important asset. An MD Advisor can help you develop a plan to protect your family, property and earning potential, and ensure the coverage is always aligned with your needs and career stage.
If you need assistance from other specialists, an MD Advisor can provide referrals to lawyers, mortgage specialists, insurance specialists, and estate and trust specialists.
 Statistics Canada. http://www.statcan.gc.ca/tables-tableaux/sum-som/l01/cst01/health26-eng.htm
Here are some links to assist female physicians: