How Medical Professionals Plan for Retirement | Drew Powers | Show 129

by | Jun 28, 2023 | Financial Advisor, Retirement Plan

Audio Podcast

How Medical Professionals Plan for Retirement | Drew Powers | Show 129

by Dave Lorenzo

How Medical Professionals Plan for Retirement

About Drew Powers

Drew Powers is the Founder of Powers Financial Group LLC, a Registered Investment Advisor, specializing in advanced investment and insurance strategies for Medical and Dental Professionals, Business and Practice Owners, and Successful Professionals.

Drew started his career in 2001 as a Market Maker on the Chicago Board Options Exchange, where he managed trading portfolios comprising of hundreds of equity- and equity-index option listings. In 2008, he transitioned to the role of Financial Advisor and Investment Advisor Representative, where he helped clients develop individual financial strategies.

At Powers Financial Group, Drew leverages his stock and options trading expertise with his financial advising experience to help clients increase and protect their wealth. He holds FINRA Series 7 & 66 registrations, as well as Life and Health Insurance licenses.

As a member of Ed Slott’s Elite IRA Advisor Group, Drew receives in-depth technical training on advanced retirement account planning strategies and estate planning techniques, new tax laws, and proactive preparation for pending legislation. Drew has also trained under former IRS trainer Sandy Botkin, and he has been named a Five Star Wealth Manager for 2019 and 2020.

Drew lives in Naperville with his wife and their two children. He is an avid downhill skier, active in youth sports, a proud “Rooster” within the Naperville Jaycees, and is passionate about CrossFit and the Paleo/Primal Lifestyle.

Timestamps:

00:00​ – How Medical Professionals Plan for Retirement
00:57 – How did Drew get started helping folks in the medical industry on retirement planning?
01:44 – Why are medical residents important to Drew as clients and what do they do?
03:29 – How does Drew counsel someone who is deeply in debt?
05:12 – What is the first thing Drew focuses on with his clients?
06:59 – What kind of disability insurance do residents who aren’t making a lot of money get?
08:53 – It is more difficult to ensure one type of medical practitioner than another? 
10:18 – How does a retirement plan work for medical professionals?
12:56 – How does a minimum-wage earner in the medical industry obtain a retirement plan?
15:31 – What ERISA stands for and what are the things that they allow people to achieve that make them so vital to Drew’s business with his clients?
17:19 – How to buy the assets for less money while avoiding taxes?
18:53 – Why do many believe that wealthy individuals do not require insurance?
23:50 – How much of Drew’s business comes from referrals?
25:08 – What should people pay attention to when referring Drew?
26:17 – Which one would Drew prefer to work with: someone who has already started working with a financial advisor or a new one?
28:11 – What information must a client provide for Drew to assist them?                                                                                 
29:52 What will an estate planning attorney hear that will make them want to visit Drew?                                                  32:54 How does Drew help families who have list a loved one?

📺Watch and Enjoy!

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