Financial Planning For Doctors & Dentists
As a doctor or dentist, you’re probably used to being an expert in your field after years of studying to master the art and science of practising medicine or dentistry. But when it comes to taking control of your financial well-being, most doctors or dentists don’t have any more insight than the next guy or girl.
Doctors and dentists have unique financial planning needs. At MyFuture, our Qualified Financial Advisers understand these needs and have the knowledge and experience to provide you with a personalised service that protects you now, secures your future, and keeps you prepared for whatever life throws at you.
Whether you’re just beginning your career as a doctor or dentist or you’re a seasoned veteran, there are ample opportunities for you to make the most of your income while preparing for your dream retirement. Knowing where and how to invest your money means finding the sweet spot between risk and reward so you can reap the benefits of your hard work.
Financial Planning For Doctors & Dentists
If you work in the healthcare field as a doctor or dentist, you hold an esteemed place in society as Kiwis throughout the nation place their trust in you to ensure their well-being.
You deserve to be able to place your trust in a financial adviser who is equally concerned about your financial well-being.
Financial planning for doctors and dentists requires striking a balance between making the most of their income, while at the same time ensuring they have the resources to pursue their lifestyle goals.
In order to do that, a healthy mix of savings and investments is required to optimise your current and future plans so you don’t end up working for nothing.
While doctors and dentists are in a unique position because their work provides them with a healthy salary, if you’re not making the most of your financial resources, you could end up missing out on a world of opportunities.
Get Ahead With Quality Financial Advice
Our Qualified Financial Advisers can help you achieve your goals with a tailored financial plan and proven financial expertise.
How Does Financial Planning For Doctors & Dentists Work?
We know that working in the healthcare field, your time is precious. That’s why the team at MyFuture provides personalised service that puts your needs first. The financial planning process follows a proven 6-step process to make sure all your bases are covered and your financial needs are met. This involves:
What is our 6-Step Financial Advice Process?
The 6-step financial advice process is the international benchmark for financial planning. This holistic approach is proven to increase the likelihood of you achieving your financial goals.
Discovery Session
This is our opportunity to get to know you better, understand your financial goals (short, medium and long-term), and what resources you have to achieve those goals.
Research & Recommendations
During these steps, we do the research, run the numbers, document and present our recommendations to you. This can be a comprehensive financial plan focused on long-term wealth creation and/or a statement of advice focused on your more immediate financial needs. We will need to verify the information you provided during the Discovery Session by requesting supporting documents such as loan and savings account balances, payslips, etc. This ensures we are using highly accurate information when developing our recommendations.
Implementation
This step is all about implementing the recommendations. We don’t just provide the recommendation; we take responsibility for helping you implement it. This could involve helping you to complete application forms, working with a broker to restructure your lending, or finding you suitable investments. We understand you’re busy, so our goal is to make your financial world as easy as possible by doing as much as we can in-house for you. However, ultimately, we never have access to your money and cannot sign anything on your behalf, so you need to be an active, willing, and ideally enthusiastic participant in this process.
Ongoing Service & Reviews
This is where the real fun begins—managing and tracking your long-term financial success. We have periodic reviews to ensure your strategy is still appropriate if your goals or circumstances have changed. We adjust when necessary and provide annual snapshots so you can see your progress over time. Most importantly, you have your very own trusted Personal Financial Adviser available anytime to help with the little or big stuff. Worried about making next month’s mortgage repayments? Call us. Your parents gave you an early inheritance? Call us. Broke up with your partner and split all your assets? Call us! We’re here for you every step of the way to ensure that whatever life throws at you, you stay on track with your long-term financial goals.
Frequently Asked Questions
Why Is Financial Planning Important For Doctors & Dentists?
The most important thing a financial plan can provide for doctors and dentists is peace of mind. Knowing that your hard-earned assets are going to provide for you and your family and last you as long as they need to can truly put your mind at ease as you go about your day to day work.
But beyond providing financial independence and personal freedom, financial planning also lets doctors and dentists dream big.
Whatever your personal goals, whether you want to retire early, start a new practice, purchase or build a new home, take a dream holiday, or splash out on a new car or boat, your financial goals are within reach when you work with the right financial planner.
So what are you waiting for? The key to your financial freedom is at your fingertips, so book your FREE no obligation Discovery Session with the Qualified Financial Advisers at MyFuture today so we can get started on making your dreams into your reality.