In this episode of our MDT (Multidisciplinary Team) podcast series, we delve into several pressing topics. We start with an update on the takeover of NHS property by a US private equity firm and what this means for the healthcare system. We then explore the global economic implications of US tariffs, particularly how they are impacting bonds and creating volatility in the market. Our economics experts also put forward their views on the theory of 'taxing wealth not work' as proposed by Gary Stevenson. Wrapping up, we discuss the ongoing NHS pension crisis, including a notable case where a doctor received compensation for pension maladministration and the latest delays in issuing pension saving statements due to the McCloud judgment. Join us as we unpack these complex issues and more

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Disclaimer:

The information provided in this content is for educational and informational purposes only and does not constitute financial advice. You should not rely on this content as a substitute for professional advice tailored to your specific financial situation. The value of your investments can go down as well as up. Past performance is not indicative of future results.

Want to improve your finances fast? Then come on our course

https://www.medicsmoney.co.uk/medics-money-financial-wellbeing-course/

In this episode of the Medics' Money podcast, the host welcomes Dr. Edmund Jack to discuss his financial journey and share valuable tips for fellow doctors. Approaching 1.4 million downloads, the podcast has been helping healthcare professionals improve their financial wellbeing. Dr. Jack, a GP from Devon, talks about his diverse career and the phases of his financial life, from debt accumulation to investment strategies. He highlights the importance of a structured approach to finances and the benefits of the Medics' Money Financial Wellbeing course. Key topics include sensible investing strategies, whether to pay off the mortgage or invest, and the psychological aspects of finance. Dr. Jack emphasizes the significance of having a clear financial plan, automating investments, and the long-term benefits of a diversified portfolio. Listeners also get insights into the ongoing debate about active vs. passive investing and tips for those just starting their financial journey.

00:00 Introduction and Podcast Milestone

01:53 Guest Introduction: Dr. Edmund Jack

02:13 Dr. Jack's Financial Journey

05:14 Discovering MedicsMoney

12:39 Key Learnings from the Financial Wellbeing Course

16:55 Investment Strategies: Active vs. Passive

31:30 Final Thoughts and Tips for Beginners

34:28 Conclusion and Upcoming Events

Want the latest financial tips for doctors and exclusive invites? Join 64,000 doctors here https://www.medicsmoney.co.uk/join-medics-money/

Want a free assessment of your finances? Click here https://medics-hnz5twj1.scoreapp.com

GP partner looking to improve your practice/ Then come on our course

https://www.medicsmoney.co.uk/gp-partnership-programme/

Follow us on Instagram

Follow us on Twitter

Disclaimer:

The information provided in this content is for educational and informational purposes only and does not constitute financial advice. You should not rely on this content as a substitute for professional advice tailored to your specific financial situation. The value of your investments can go down as well as up. Past performance is not indicative of future results.

https://www.medicsmoney.co.uk/medics-money-financial-wellbeing-course/

In this episode of the Medics' Money podcast, hosts welcome Dr. Kate Rothwell, a haematology consultant, who shares her experiences from the Medics' Money Financial Wellbeing course. The discussion covers practical financial tips, including dealing with misallocated back pay and tax traps, and the significance of knowing when and how income should be taxed. Dr. Rothwell recounts battling payroll issues and the importance of proactively managing one's finances, especially regarding pensions and investment strategies. The episode emphasizes the value of collective knowledge and persistence in handling financial matters, highlighting stories of errors corrected and financial knowledge gained. Listeners are encouraged to openly discuss and manage their finances to make informed decisions, leveraging resources like Medics' Money to navigate their financial journeys effectively.

00:00 Introduction and Overview

00:16 Back Pay Issues and Tax Traps

00:40 Pensions Taxation Explained

00:46 Investing Mindset and Tips

00:53 Impact of Financial Wellbeing

01:58 Guest Introduction: Dr. Kate Rothwell

02:46 Personal Financial Journey

05:25 Navigating Tax Challenges

18:00 Persistence with HMRC

23:42 Investing and Financial Planning

28:05 The Importance of Financial Knowledge

42:02 Conclusion and Final Thoughts