Doctors are a unique group of professionals, they are the ones who have put in a long number of years and hard work to provide the best value to their patient's health, and this is something they are appreciated for. Also, one that gives them joy and satisfaction, despite relatively good income, many doctors have been shown to have difficulty in building wealth from their pay. Why is this? What makes the difference?
This article will highlight some of the common financial problems with medical doctors and elaborate on an excellent financial course that will give you the edge to attain the financial freedom you desire.
Medical professionals have peculiar financial troubles. Let us explore some of them.
It is a fact that many doctors are solely focused on the patient side of their practice without looking out for their own financial health. This, coupled with a sense of security about the future as high-income earners, results in complacency among them and hence a failure to leverage their high earnings to build wealth from the opportunities around them.
Another primary concern with doctors is debt. This becomes significant due to lending institutions’ willingness to lend to doctors; this results in them taking on too much debt early in their careers. The result is a significant reduction in their disposable cash and ability to save or invest, limiting their wealth-building ability.
Financial burdens and strains have been shown to have overreaching effects on the health of physicians and their productivity and ability to retire early. This results in burnout and working beyond retirement age to maintain their lifestyle, even with decreasing job satisfaction and health status.
It has been shown by different studies that Physicians have low levels of financial literacy. This can result in poor financial choices and invariably reduced quality of life. This is more so when coupled with the pressure of work that doctors do and its impact on time availability to acquire sufficient financial knowledge.
This fantastic financial programme will introduce you to the workings of capital and how you can legally reduce the amount of money deducted from your base salary as taxes. This effectively increases the amount of money available to you to use or improve your professional value and skills and, by extension, earning potential.
In this programme, you will be exposed to different methods and techniques that can be used to expedite debt repayment and reduce the time to complete these payments using the principles of Personal Finance you will learn from this exceptional financial intelligence course.
It is essential to zoom out and look at your skill set outside of the lens of patient care and service delivery. How can you start a business? How do you effectively monetize skills at your disposal and still be productive at what you do? This, among others, will be addressed in this programme.
Doctors can effectively use their capital to build a powerful passive investment vehicle over many years. If appropriately utilized, it can be a way of creating wealth by compounding. Warren Buffet described compounding as the 11th wonder of the world; you could make this wonder work for you.
We know the importance of continuing professional development points to career advancement and knowledge acquisition for medical professionals. We also know that you may need to complete many courses that can take many hours and cost you a lot of money. It is the reason you may earn CPD points when you subscribe to this programme.
Planning and acting earlier in your career is the perfect answer to financial freedom. In addition, learning about financial management is becoming a core skill for physicians to achieve financial Freedom, Job satisfaction, and the ability to retire when due. These are what we want to help you attain.
To learn more about this life-changing financial intelligence course for medical professionals, explore courses and events on HealthcareLink related to financial intelligence.
Financial Intelligence Courses/Events for Medical Professionals
