When should doctors and dentists start investing?

Yves SchoofInvestments

This is one of the most common questions I get asked…and it is probably one of the best questions as well. Whilst it makes sense to pay off your home mortgage as quickly as possible, I believe it can also make perfect sense to start investing while you still have a mortgage. Because the younger you start, the longer compounding … Read More

Webinar – Wealth Creation For Doctors And Dentists

Yves SchoofInvestments

In this webinar I look at the key ingredients for doctors and dentists to build wealth. I cover topics such as: – mindset and discipline, – cash flow management, and – strategies and investment options. Click HERE to watch it on Youtube. I trust you will enjoy it.

4 Quick Tips To Avoid Investment Heart Break

Yves SchoofInvestments

Over the years, I have heard some heart-breaking stories of (medical) professionals who lost hundreds of thousands of dollars through bad investments: – a doctor who lost over $500,000 in a boutique resort-style property syndicate – he had to sell his house to top up his retirement funding; – various doctors who lost several hundreds of thousands on speculative, geared … Read More

Why Doctors Shouldn’t Bet Their Retirement Savings On Property

Yves SchoofInvestments

As I have highlighted a couple of times in the past, doctors and other medical professionals typically have a love affair with property. It is not hard to see why: – it provides tax benefits in the form of many possible tax deductions; – it is easy to leverage against and finance options are plentiful for doctors; – it is … Read More

Personal Finance For Doctors: Making Money While You Sleep

Yves SchoofInvestments

Many doctor clients ask us how they can generate passive income. The idea is really simple: you invest your employment income so that it can start to generate investment income. Over time this passive income can start to replace all or part of your employment income. But how exactly do you achieve this and what should you invest in? Let’s … Read More

Doctors and property scams- how to avoid them

Yves SchoofInvestments

It is no secret that many Doctors have a love affair with property. There are some very simple reasons for this: property is perceived to be safer than shares, doctors can easily borrow money for property, and property investment offers many tax deductions. Yet, there is also such a thing as a bad property investment, and I have seen many … Read More

The 3 Most Costly Financial Mistakes Doctors Make

Yves SchoofInvestments, Tax

Unfortunately, there are some costly financial mistakes doctors make over and over again. In this article I have listed the 3 most common and also most costly mistakes. 1) Having a mortgage that is too big If you do not have the cash flow to pay off your home mortgage in 10 years time, then you have borrowed too much. … Read More

How the post-election super changes affect Doctors

Yves SchoofBusiness, Investments, Tax

The Government has announced some changes to its 2016 Budget proposals in relation to superannuation. Please find below a summary of the proposed superannuation changes and how they affect Doctors in particular. Non-concessional Contributions The $500,000 lifetime Non Concessional (i.e. after-tax) Contributions (NCC) Cap has been dropped. Instead, the Government has announced a reduction of the current annual limit of … Read More

Financial Advice For Doctors: 5 Key Areas For A Valuable Second Opinion

Yves SchoofBusiness, Investments

When I engage new clients, there are often a range of financial issues that need to be rectified or optimised. In this article I would like to highlight the 5 main ‘problem areas’ Doctors typically have not properly organised, and demonstrate how financial advice for Doctors is of tremendous value. 1) Tax planning Unfortunately too many Doctors still work with … Read More

The Sandwich Generation’s struggle to retire

Yves SchoofBusiness, Investments

The ‘Sandwich Generation’ is the term typically used for the Baby Boomers who are being ‘squeezed financially’ by both their children (who are living at home longer) and their elderly parents, who also may require care and financial support. These pressures are making it very difficult for this so-called ‘Sandwich Generation’ to retire comfortably. I was recently interviewed by various … Read More