In the financial world doctors are known as ‘easy targets with lots of money.’
The right advice after the fact is next to useless. The time to seek the right advice is before you do anything. So that begs the question, where do you get the right advice?
If you were getting brain surgery you’d want a well coordinated, integrated, specialist team. You wouldn’t be happy using a general surgeon who wants to operate on Monday, an anaesthetist who wants to work on Wednesdays, and a theatre that’s available on Friday.
But most doctors approach their finances in this way. They might have an accountant who doesn’t specialise in doctors, a banker, a stock broker etc. all who are working to their own agenda, for their own self interests. It’s no wonder most doctors are receiving poor financial advice, 48% of doctors are stressed about money, and this unexpected tax fiasco is happening.
The lesson; get a specialist integrated team and apply a coordinated, well-informed, approach to your finances as a doctor.