Doctors and debt: the good, the bad and the ugly

Yves SchoofFinance

Many doctors have an enduring love-hate relationship with debt. You may start of as a recently graduated intern with a mountain of student debt. Whilst you are paying this off, you may also get a car loan and then a mortgage. Next on your list is an investment property, for which you borrow close to 100% as well. And it … Read More

Doctors and investment: 5 principles you need to know

Yves SchoofFinance

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?

Yves SchoofBusiness

doctors save tax

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

Yves SchoofFinance, Investments

the financial affairs of medical professionals

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

Yves SchoofFinance, Investments

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

Yves SchoofFinance

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