To accumulate wealth and achieve financial freedom, you need to invest. However, many doctors make costly investment mistakes, because they have never been taught the fundamentals. In this article I want to provide you with some valuable learnings and tips. Investing versus speculating Many people believe they are investing when in reality they are speculating. In simple terms: investors have … Read More
How can doctors save tax and pay off their mortgage faster?
In a previous article, we have already established that the main frustration for many doctors is paying too much tax. We also highlighted 3 strategies to build wealth and save tax. You can read this article by clicking HERE. However, there is one additional strategy that can help doctors save tax and also pay off their mortgage faster. It involves … Read More
5 reasons why doctors cannot be complacent about their finances
More than any other profession, doctors have the ability to earn a significant amount of money throughout their career. Why then is it that many doctors do not retire as comfortably or as soon as they should? The very fact that you earn a high income can also be your financial downfall – you may become complacent about the management … Read More
3 ways doctors can build wealth and also save tax
The number one frustration is undoubtedly that you pay too much tax. In fact, most doctors would pay 49% tax on the majority of their income. Whilst smart tax planning is essential to keep your fair share of your earnings, all too often people make financial decisions on the sole basis of a tax deduction. This can lead to costly … Read More
Why doctors need to keep their financial affairs simple…or outsource them
Most medical specialists and surgeons have very little spare time, and any time not spent on generating income has a very high opportunity cost. Your time is best allocated to working on your practice and seeing patients. To save time, it therefore makes a lot of sense to streamline your finances and avoid complexity where possible. However, in many circumstances, … Read More