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The Essential Components of Effective Financial Planning for Physicians

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Financial Planning for Physicians

As like any other professionals, physicians too think of financial stability in their life. Being an expert physician can be quite a lucrative career, but if you do not know how to act on financial planning and put the key components of economic protection, estate planning, and retirement benefits, financial management may become troublesome affair overtime.

Why is financial planning necessary?

Financial planning aims at ensuring all the primary and secondary economic resources are optimally utilized in the best possible way to route it to maximize return on investment over time. Financial planning is primarily the process of defining the best objectives by framing procedures, policies, programs, and budgets related to financial activities of an individual or a business.

Proper financial planning with the help of an expert advisor will ensure effective investment practices. Financial planning will enable you to:

  • Have financial stability

Proper financial planning will help individuals to ensure a fair balance between the inflow and outflow of funds to maintain stability.

  • Ensure adequate funds when in need

Proper planning will ensure that you have enough money in hand when confronting an unforeseen situation with the immediate need to raise funds.

  • Reducing uncertainties

Proper financial planning will eradicate uncertainties in terms of health and wellbeing, kid’s education, home construction and maintenance, and family finances. It also will maintain you at a stable position even with a highly fluctuating external market conditions.

Why financial planning for physicians is different?

Physicians do face many specific challenges when it comes to financial planning for their personal and professional life. Physicians do spend more than a decade for their medical college studies, specialization, residency, and fellowships. With this need, many of the doctors end up with serious students loans to be paid off during the initial phase of their practicing career. They tend to saddle between these debts and their unique personal financial challenges for a considerable duration before getting stabilized.

The primary question is whether physicians face any unique financial challenges when compared to other professionals? Do they need any special tools or financial vehicles to stabilize and secure their financial future?

Listen to what Dr. Brian J. Knabe says who is a doctor as well a reputed financial planner as “the individual challenges in terms of financial planning for physicians may not be same as for anyone else, but the combination of them surely is.” “Given the fact they enter into the workforce later when compared to others, there are many special expectations by them in terms of lifestyle and wealth as associated with the medical profession conventionally, which puts many physicians to live up to those social expectations.”

Significant components of physician financial planning

Majority of the financial advisors point to the fact that physicians should accurately plan for a unique set of protections and financial plans in order ensure financial success. Here some of the most critical components to be considered for successful financial planning in case of a physician.

  • Disability insurance – Experts suggest that it is mandatory for healthcare practitioners to invest in some disability insurance to protect their future. It is a fact that an individual medical practitioner makes no equity overtime in a cash flow business. The value of his or her future earnings is the actual value of a young doctor’s assets. So, without disability insurance, one would be in deep trouble if something unfortunate happens.
  • Healthcare malpractice insurance – One report of American Medical Association a couple of years back showed that more than 60% of doctors above age 55 are sued for some of the other medical malpractice. Even though about 70% of these sues get dismissed, still there is significant money involved if the claim gets into a trial. A good malpractice policy in place will save you from this risk at any point.
  • General insurance – As like any other individual, a physician also should have mandatory protective insurances as personal care, family care, and kid’s coverage.
  • A proper estate plan – Being a physician, it is essential to have your free will, living will, and adequate powers both in terms of personal assets as well as healthcare in place.
  • The help of a skilled and reliable financial planner – It will be worth to pay out to a competent financial advisor who can offer you the best service and manage the financial planning on your behalf by understanding your unique needs and goals. Working under tremendous pressure in relation to their professional responsibilities, a good financial advisor cum planner will act as your best partner for a secured future.

It is also crucial to consider that the finances of a doctor may also affect the patient care. Financial stressors may lead to higher work stress and end up in job dissatisfaction in an otherwise stressful profession like healthcare. It is also a significant reason why the advice of an expert financial planner is suggested to practicing physicians.

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Brik Oven Prestige Towers, Rama Nagar (Bengaluru)

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Brik Oven Prestige Towers

Brik Oven, famous by its Neapolitan pizzas that are authentic has gained a reputable presence in Bengaluru’s food scene. One of the most prominent locations is located in the Prestige Trade Tower on Palace Road located in the Sampangi Rama Nagar area. The outlet provides patrons with an exceptional dining experience that combines traditional Italian cuisine with modern atmosphere.

Brik Oven Prestige Tower Overview

The restaurant was established in the year 2016. Brik Oven has rapidly expanded throughout Bengaluru and has several outlets serving pizzas made by hand and other Italian delights. Its Prestige Trade Tower location, opened as the third outlet, is the unique courtyard design that enhances the dining experience.

Facilities and Ambiance

Prestige Trade Tower Prestige Trade Tower outlet offers an array of amenities that will ensure you a relaxing and enjoyable stay.

  • Maximum Seating capacity: Ample indoor and outdoor seating arrangements can accommodate large and small groups.

  • Open Kitchen A kitchen that is open design lets patrons observe the pizza making process, adding an element of enjoyment.

  • courtyard setting: The courtyard-style ambiance creates a relaxing and comfortable atmosphere, perfect for informal eating.

  • WiFi Access Wireless Internet is free accessible to guests and caters to guests who want to stay connected throughout their stay.

Operating Hours

Brik Oven at Prestige Trade Tower is operational during the hours listed below:

  • Monday to Sunday: 11:00 AM to 11:00 PM

This ensures that guests can eat all day, from lunch until dinner.

Menu Highlights

Brik Oven’s menu Brik Oven features a variety of Italian food items that are centered around Neapolitan-style pizzas. The most popular dishes include:

  • Margherita Pizza: A classic pizza made featuring fresh mozzarella as well as basil as well as tomato sauce.

  • Quattro Formaggi: A delightful mixture of four cheeses providing a rich and creamy flavor.

  • Garlic bread: freshly baked bread filled with herbs and garlic and served with the marinara sauce.

  • Milkshakes Milkshakes with a variety of creaminess, with flavours like Oreo or Nutella.

The restaurant also has vegan alternatives, offering the menu is diverse and is able to accommodate a wide range of diets.

Address and Contact Information

Detail Information
Address Prestige Trade Tower, Palace Road, High Grounds, Sampangi Rama Nagar, Bengaluru, Karnataka 560001
Contact Number +91 88847 00088
Website Not Available

Nearby Landmarks

Its Prestige Trade Tower outlet is conveniently located close to several famous landmarks:

  • Bangalore Golf Club: About 1 km from the and offers a variety of recreational activities for golfers.

  • Cubbon Park: An expansive green space perfect for strolls in leisure, and located approximately 2 km away from the restaurant.

  • Vidhana Soudha: The seat of Karnataka’s legislature, situated approximately 2.5 kilometers away.

The pros and cons based on Reviews by customers Reviews

Feedback from customers provides valuable insight on the food experience Brik Oven:

Pros:

  • authentic flavors: Many patrons praise the restaurant for its authentic Neapolitan pizzas that highlight the quality of the ingredients and traditional cooking techniques.

  • Ambience: An open-kitchen layout create a relaxing and lively dining experience.

  • Customer Service Employees are usually praised for their warm and professional service, which improves your overall satisfaction.

Cons:

  • Price: Some customers feel that meals are priced on the high end, which might not suit all budgets.

  • Wait Time: During peak hours the restaurant may become overcrowded, which can lead to longer wait times to sit and service.

In the end, Brik Oven at Prestige Trade Tower provides a memorable dining experience for those looking for authentic Italian food in Bengaluru. The location’s prime position, coupled with a wide menu and a warm atmosphere, is a favorite option for both locals and tourists.

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Prestige Trade Tower, Sampangiram Nagar (Bengaluru)

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Prestige Trade Tower

Prestige Trade Tower, located at No. 46 Palace Road, High Grounds, Sampangiram Nagar, Bengaluru, Karnataka 560001, is an iconic Grade-A commercial structure located in Bangalore’s Central Business District. Built in 2018, this 23-storey building is designed to be a highly efficient and functional structure with a minimalist and stylish architecture.

Facilities and Amenities

Prestige Trade Tower offers a array of facilities that can satisfy the requirements of the modern business:

  • Office Spaces This tower offers an expansive and elegantly designed commercial office space with each floor measuring around 22,000 square feet.
  • Retail Podium Four floors of the first are devoted to luxurious retail spaces that provide convenience to both tenants and customers.
  • Parking It has the facility for parking in-house, which provides plenty of parking for tenants and visitors.
  • Security Security services are available 24 hours a day, 7 days a week. available to ensure the security of the people who live there.
  • Helipad It is a tower that has an helipad that provides an additional option for accessibility for executives in corporate settings.

Operating Hours

The standard operating hours of offices in Prestige Trade Tower are typically from 8:30 am to 6 PM, Monday to Friday. However, these hours could differ based on the specific office policies and operational needs.

Address and Contact Information

Detail Information
Address No. 46 Palace Road, High Grounds, Sampangiram Nagar, Bengaluru, Karnataka 560001
Contact Number +91 80 6120 7000
Website www.executivecentre.com

Nearby Areas and Accessibility

Prestige Trade Tower has been ideally placed, with an excellent connection:

  • Transportation It is located in Palace Road next to the Golf Course, providing good access to railway and bus stations. The closest metro station is around 0.5 millimeters away which increases the accessibility of commuters.
  • Services: The vicinity includes several five-star hotel, serviced apartments as well as a range of restaurants both international and local catering to different tastes.

The pros and cons as reported by Reviews

Feedback from visitors and occupants gives insight into the strengths of the building and areas of improvement

Pros:

  • The Prime Place: The tenants appreciate the tower’s central position and an easy access to the most important locations in Bengaluru.
  • modern facilities: Modern facilities, such as modern meeting rooms as well as cozy business lounges are well-loved.

Cons:

  • Communication Issues Potential clients have complained of difficulties in communicating with sales representatives and indicate that there is a need to improve the response.

In sum, Prestige Trade Tower stands as a prominent landmark for business in Bengaluru and offers modern amenities and an excellent spot. Although it has many advantages but a focus on the customer experience could boost its image further.

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Suncity Trade Tower, Sector 21(Gurugram)

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Suncity Trade Tower

Suncity Trade Tower, developed by Suncity Projects Pvt. Ltd. It is a well-known commercial building situated within Sector 21, Gurgaon. Strategically located along the Old Delhi-Gurgaon Road The tower is modern and offers office spaces that accommodate the demands of modern companies.

Suncity Trade Tower Overview

With a total area of 9000 square meters of space, Suncity Trade Tower boasts an area built-up of approximately 16000 square metres (approximately 1.73 thousand sq feet). The structure is impressive in its architectural design, with a frontage of around 70 metres (230 feet) which provides ample access and visibility. Floor plates span between 28,000 and 36,000 square feet, allowing for different business needs.

Facilities and Amenities

The tower is furnished with modern features to provide an efficient and comfortable working environment.

  • Central Air Conditioning Provides comfortable and comfortable temperature throughout the entire building.

  • High-Speed Elevators Modern elevators allow swift and efficient transfer between floors.

  • Plenty of Parking: The building offers plenty of parking space for both visitors and tenants.

  • 100 Power Backup: Uninterrupted power supply is guaranteed through complete backup systems.

  • High-Tech Security High-tech surveillance systems and 24 hour security personnel provide a safe work space.

  • The Fire Protection: Equipped with fire alarm systems and provisions for fighting fires in accordance with National Building Code (NBC) standards.

  • Aesthetic Interiors The building is aesthetically appealing interiors as well as a huge foyer, which enhances the overall atmosphere.

Operating Hours

The building is open 24 hours a day to cater for various business requirements however, the hours of office for each tenant will be different based on tenant operations. It’s recommended for visitors to confirm the specific hours of operation with their respective tenants.

Address and Contact Information

Detail Information
Address Suncity Trade Tower, Sector 21, Old Delhi-Gurgaon Road, Gurgaon, Haryana 122001
Contact Number +91 124 469 1000
Website N/A

Nearby Landmarks and Accessibility

Suncity Trade Tower is strategically placed and offers excellent connectivity.

  • Delhi-Gurgaon toll plaza: Around 3.5 miles away providing an easy route to Delhi.

  • Indira Gandhi International Airport About 10 km from the tower offering the convenience of business travellers.

  • Kapashera Border: The border is around 1.25 kilometers from the border, this border will improve connectivity to neighbouring regions.

  • DLF Cyber City: Approximately 2 kilometers away, this puts it close to a major hub of business.

  • Hotel Trident Hilton/ShankarChowk: approximately 2 kms away, the hotel offers accommodations and meeting facilities.

  • Iffco Chowk: About 4 kilometers from the site that provides access to different areas of Gurgaon.

The pros and cons as reported by Reviews

Feedback from visitors and occupants gives valuable insight:

Pros:

  • Strategic Position: Tenants appreciate the central location, offering great connectivity to important areas like Gurgaon as well as Delhi.

  • Modern amenities: The building’s state-of-the-art facilities meet the requirements of the modern business.

  • Aesthetic Attractiveness: The elegant architecture and well-maintained facilities make for a pleasant work setting.

Cons:

  • Traffic Congestion A few residents have reported that their area is prone to traffic congestion during peak times that can cause disruption to the commute time.

  • Parking Restrictions: Despite ample parking in the area, a high level of occupancy can often result in the availability of parking for visitors to be limited.

In short, Suncity Trade Tower offers a distinguished business address and modern amenities located in the center of Gurgaon. While it offers many benefits but addressing the issues could improve the experience of its residents.

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