I hope everyone enjoyed the Webinar last night. A link will soon be available for those who missed it. I'll take a stab at these questions and if anyone else wants to throw their thoughts in, feel free.
1) Here's a link to my recommended book list. I recommend docs and their trainees try to read one good financial book every year.
http://astore.amazon.com/whicoainv-20?_encoding=UTF8&node=70
2) I think that's the wrong question to ask. Most people will need term insurance. Almost no one will need whole life insurance. So what you should do is decide whether to invest in whole life insurance or invest in more traditional investments such as stocks, bonds, and real estate. Long term guaranteed returns on whole life insurance purchased today are about 2%. Projected returns are about 5%. Obviously, expected returns, at least for stocks and real estate, are higher than that in the long term. So I generally recommend those over whole life. This is a complicated question and I could (and have) written volumes on it. Here is a good place to start:
http://whitecoatinvestor.com/debunking-the-myths-of-whole-life-insurance/
3) Most doctors probably should use both a financial planner and an asset manager (or wealth manager,) whether young or old. However, if they are willing to educate themselves on these topics, there is no reason they cannot do this themselves and save the thousands a year it will cost to hire competent, ethical professionals. Be aware that most who call themselves financial advisors are not the competent, ethical professionals you wish to hire. In some ways, by the time you know enough to hire a good financial advisor, you know enough to do it yourself. You can learn more about financial advisors here:
http://whitecoatinvestor.com/investing/what-you-need-to-know-about-financial-advisers-2/
