You are in the early stages of your journey as a medical professional, and planning for life after work is probably the last thing on your mind. But consider this: Over the coming years, your income will likely increase significantly, and you’ll become accustomed to a certain lifestyle. At some point, you will decide to stop work, and we want to ensure that stopping work doesn’t mean stopping your preferred… Read More »Your Journey Begins
1. Live on Less Than You Earn – Aim to Save a Minimum of 10% of Gross Income Use a reliable app to track your monthly income and categorise expenses. Understanding your cash flow helps identify areas for saving or reallocation. Pay yourself first – save before spending what’s left. This is key to financial planning for doctors. 2. Use Debt Sensibly to Build Wealth Minimise bad debt by prioritising… Read More »10-Point Money Checklist for Doctors
If you were paid the average annual wage of $89,003[1], you could potentially earn over $10,751,000 over a 40-year working life[2]. You would use this money for daily living, for holidays, to accumulate assets like a house and car, and to save for your retirement. Being injured or taken ill, for only a short period, could severely affect or even cancel some of these plans. What would you do? Your… Read More »What would happen if you couldn’t work due to illness or injury?
Wealth protection through the ages Insurance plays an important role in any wealth creation and management strategy. There is little point in accumulating wealth if you don’t protect it, or yourself, from unforeseen risks that can undermine the best-made plans. Just as your wealth creation strategy needs to be reviewed on a regular basis, so too does your wealth protection plan. Every stage of life brings exciting challenges along with… Read More »Wealth protection through the ages
It’s a tricky time for everyone and we really appreciate the wonderful dedicated people who put themselves on the line to care for others. Do you have questions about your insurance benefits and Covid-19? Generally insurance policies will cover you if you contract Covid-19 for; Death from the virus A traumatic illness as a result of the virus Total and Permanent Disability as a result of the virus Income replacement… Read More »Insurance & Income protection if you contract COVID-19
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