Should Doctors And Dentists Focus More On Saving ?

Yves SchoofFinance

Doctors and dentists typically have long careers, but doctors in particular start working later than most people, and as result also start building wealth later in life. This can lead to a situation where insufficient wealth is accumulated early in life, missing out on valuable compounding benefits, which makes it harder to accumulate sufficient retirement savings. A possible solution for … Read More

Should Doctors And Dentists Have Insurance In Super?

Yves SchoofFinance

There has been a lot of talk recently about the downside of holding insurance in super. The government, and many financial commentators, feel that insurance premiums are draining people’s retirement funding. This is definitely a significant factor to consider when reviewing the ownership options for your insurance policies. The following article also makes some interesting points: read it HERE However, … Read More

ifa Excellence Awards For Financial Planning

Yves SchoofBusiness

Yves Schoof has been shortlisted as a finalist to win Best Client-Servicing Adviser and Best Goals-Based Adviser at the 2018 ifa Excellence Awards, the only program benchmarking the success of the independent financial advice sector. The fifth annual ifa Excellence Awards, in partnership with Colonial First State, rewards best practice and celebrates independently minded and client-centric advisers and firms across … Read More

The True Cost Of Too Much Debt

Yves SchoofFinance

Unfortunately, too many medical professionals carry mortgages that are too big and drain cash flow. It seems like there is sometimes a competition to see who can buy the biggest and most expensive house. Whilst I advise my clients to not fall into this trap, they don’t always listen, and years later typically end up regretting their purchase decision, as … Read More

Is Interest Only Still the Best Option For Doctors and Dentists?!

Yves SchoofFinance

Today we share an article written by Michal Deegan from Do Financial, he is a specialist finance broker. Interest only loans have been the norm A common strategy that has been applied for many years is to only pay interest on an investment property. And, more often than not, this has been the best option to maximise your tax position … Read More

Why Doctors And Dentists Find It Hard To Achieve Real Financial Progress

Yves SchoofFinance

Despite the high income that many doctors and dentists earn, many find it hard to achieve tangible financial progress. This is the main reason why healthcare professionals engage our services – to tap into a well-defined and structured wealth creation process that we develop and implement for you. Over time we have refined our process to specifically help doctors and … Read More

The Wealth Snowball

Yves SchoofFinance

I have talked about the benefits of compounding and the importance of repaying debt quickly many times. In this week’s blog I wanted to share with you an interesting article that focuses on these two topics. It talks about the concept of the ‘Wealth Snowball’ and the ‘Debt Snowball’. If you don’t have time to read it, the two simple, … Read More

Why Doctor And Dentist Couples Should Talk About Money

Yves SchoofFinance

For any couple, it is really important to discuss your financial affairs and to both take some level of responsibility when it comes to managing your money. All too often we see couples who don’t communicate about their finances, and end up arguing because they have different money values (generally around spending behaviour). For medical and dental couples this is … Read More

How Medical Professionals Can Make The Most Of Next Financial Year

Yves SchoofFinance

Now that you have digested your tax return, you should turn your attention to next financial year. The benefits of starting your (tax) planning early is that you can put in place sustainable long-term strategies, rather than quick fixes. Here are some of the strategies you should be considering as a doctor and dentist: Superannuation o Do I still have … Read More