Stepped Or Level Insurance Premiums For Doctors And Dentists?

Yves SchoofBusiness

It is absolutely critical that you get your insurance premium funding right, as it may end up costing you thousands of dollars more if you get it wrong. In this video from the Medico CFO suite, I talk about stepped vs level premiums. Things to consider in your decision include: Affordability in the short and long term How long will … Read More

What Does Financial Freedom For Doctors Look Like?

Yves SchoofBusiness

All of our young medical and dental clients aspire to financial freedom in their 50’s, which basically means that you have repaid your home loan and other bad debts, you have funds to support your children’s education, you have accumulated a good amount of investments that will continue to grow, and you no longer have that pressure of having to … Read More

Should doctors and dentists be concerned about the recession?

Yves SchoofBusiness

It’s official, Australia is now in a recession. But should you be concerned? First of all, what does it mean? Well, a recession is a period when an economy is contracting rather than expanding, and is typically characterised by a significant rise in the unemployment rate. People spend less, businesses are firing instead of hiring and economic output falls. Healthcare professionals typically … Read More

Which Funds Perform Better In A Downward Market?

Yves SchoofBusiness

It’s the age-old debate between active and passive management, but which one performed better during the most recent financial crisis? The conclusion of this US Morningstar article is that: Across the 20 Morningstar Categories examined, 51% of active funds both survived and outperformed their average index during the first half of the year. In other words, an actively managed fund … Read More

Can Young Doctors/Dentists Buy A House And Invest At The Same Time?

Yves SchoofBusiness

This is a common question we get from young healthcare professionals. Like them, you might have saved up a decent deposit, and your income will only continue to go up once you obtain your Fellowship and a Consultant position. It’s only normal that you want to capitalise on that. Many of our clients look to buy a house of around … Read More

Who Are Our Clients?

Yves SchoofBusiness

I thought you might find it useful to understand who we work with, and what their reasons are for seeking advice. It is obvious that we work with Medical/dental professionals, but below are some further details: Typically they are aged between 35-49   They have a young family   They want to plan for private school fees and/or university fees … Read More

How The Wealthy Invest Differently At Times Of High Uncertainty

Yves SchoofBusiness

We are still in very uncertain territory when it comes to the share market. The recovery from the stock market losses was very swift and many people are now pondering their options. It might therefore be interesting to reflect on how High Net Worth investors approach times like this. Some of the research indicates that: HNW investors are more likely … Read More

How Doctors Can More Easily Budget

Yves SchoofBusiness

Many of our young medical clients want to become better at managing their cash flow, including reducing their expenses. While some try to track this manually by way of a spreadsheet for example, the reality is that you need to automate it as much as possible. There are various platforms such as Myprosperity and MoneySoft that make this exercise much … Read More

5 Habits To Become Financially Secure

Yves SchoofBusiness

Ever looked at a colleague or friend who has everything together financially and thought ‘what’s their secret?’ Here are five habits you can implement to help achieve financial security. Believe it or not, being secure financially doesn’t involve magic or an outrageous stroke of luck. More often than not, it results from good habits, such as keeping track of your … Read More

Which Name Should Doctors Invest In?

Yves SchoofBusiness

With so many doctors now looking to invest, one of the first questions to ask yourself is, in which entity or person’s name should we invest? The main issues to consider in that respect are: Tax implications: income and capital gains tax, possible deductions Asset protection: ideally you would not be exposing your investments to risk   So let’s look … Read More