The First Steps to Financial Freedom – A Guide for New Zealand’s Junior Doctors

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Having worked with doctors for over a decade we know that the life of a medical student and even junior doctor can often seem deprived.  Your intentions with your first few pay checks are likely to consist of  reward rather than starting down the road of retirement planning.

Most junior doctors think that even talking about planning for retirement seems premature so early on in the career path, however, much like the hours of study that went into becoming a doctor, planning and perseverance with your capital creates the foundation for long term success. As a doctor, and as you progress in your career, your opportunity to be financially independent is significantly higher than most other professions, nonetheless 65% of doctors are still working after the age of 70* and most are putting off retiring due to financial worries. It is evident that opportunities are being missed.

To support New Zealanders saving for their retirement, KiwiSaver offers an annual Member Tax Credits contribution of $521.41. To be eligible, members must have contributed $1,042.86 during the year (1 July – 30 June)** . For a PGY 1 House Officer working 40-45 hours a week, that’s just over 2% of the average annual income. For the same doctor, this could generate more than $20,000 in Member Tax Credits throughout their career.

Our team at MedCapital have extensive experience supporting doctors with their financial planning and wealth management, so they know exactly what’s required to set you on your way to financial freedom regardless of where you are in your career. Working with a specialist Wealth Manager who has a thorough understanding of your plans and capital, will enable you to grasp opportunities as your career, life, income and goals change through applying the principles of our Exceptional Wealth Model; Protection, Growth and Enjoyment.

To help New Zealand’s junior doctors create a sound start to their financial career, and to show them what’s possible, MedCapital is offering discounted membership for a limited time. If you would like to learn more and even arrange a complimentary Wealth Assessment to explore the opportunities available to you, please click here to register and a member of the team will be in touch.

Be Exceptional.


Jessica Pearson

Client Services Manager




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