Medics Money podcast

This week Tommy and Dennis Hall of Yellowtail IFA talk about whether you're truly ready for retirement. The next cohort of our GP course starts on October 5. Apply here before places sell out. Music credit: MetzMusic.

Download the ebook here https://www.medicsmoney.co.uk/ebook/ Follow us on twitter here https://twitter.com/medicsmoney Tommy and Ed are back at it again with a longer episode on their top tips for incoming doctors this August. Whilst made for new doctors starting, there's something for everyone in this episode from spending £139,000 on lunch, to tax trivia involving flapjacks...? Music credit: MetzMusic.

Tommy and Jenny Stone from RBP take to the stage to examine if Limited Companies for doctors are truly easy money this week. This marks a first as it's a VIDEO podcast available on YouTube here. Watch on YouTube to follow along with the spreadsheet used in the podcast. Music credit: MetzMusic

Join Tommy and Andy Pow as they discuss the worries that our advisers have been having about inflation and NHS Pensions. Make sure to listen and check what you need to do. Music credit: MetzMusic on YouTube

On this special episode of the podcast, Tommy uses his iPhone to record on-the-fly interviews with some fan favourite accountants from the podcast.

Tommy is joined by NHS Pensions Stakeholder Engagement Manager, and radio dj, Bernie Portasman as we announce an exciting new collaboration for sessions on the NHS Pension. See the fruits of the collaboration here https://www.nhsbsa.nhs.uk/member-hub/member-events

Join Tommy and Rob Day this week to talk the legal trouble some doctors might find themselves in and how to go about avoiding the. Music credit: MetzMusic on YouTube

The return of a podcast legend. Tommy and Guy Roper of Sunrise IFA are talking about five common financial mistakes that he sees healthcare professionals making. Make sure you're not making them too! Guy's listing link with reviews

This week, the team behind Doctors Vote are talking to Tommy about the ongoing pay-cuts and NHS workers are suffering all across the country. They discuss how things will be different from the 2015/16 strikes, and what YOU can do to help. See all the resources below to get involved and reach out: Website: https://www.doctorsvote.org/ Instagram: https://www.instagram.com/doctorsvote/ @DoctorsVote Twitter: https://twitter.com/Doctors_Vote @Doctors_Vote Email: [email protected]

In this special episode. Tommy and Ed reunite in the garage where it all began and answer the most amount of questions ever! Thanks for all your support, the podcast would just be Tommy and Ed talking amongst themselves. Here's to the next hundred.

This week Tommy and special guest Dr Clare Sieber discuss how to mediate a bitter dispute between GP partners in GP practices. Find out about Clare's unique skillset and more in today's episode! Got any questions? Ask us at [email protected] Download our free guide here! Download our free ebook here! Clare's website here!

Ever wonder how the idea for Medics' Money came into being? Or how did two doctors happen to meet in A&E started everything? Or Tommy's advice for starting your own little business? Hear it all in today's episode. An exclusive interview with Doctors.net's Stephen Robinson. Download our guide here! Make a will with Talbots Law, with a discount of £150 for Medics' Money listeners when bought with an LPA --> Here.

This week, Tommy and special guest Emma Winterburn, an ANP, discuss how non-GPs are becoming Partners! What does the future hold for GP Partnership Parity? Download our guide here!

Today Tommy and Ed are talking about things you might want to consider before you turn 40! Make a will with Talbots Law and £150 off here! Download our eBook here! Thanks for listening, we really couldn't do this without you.

Today Tommy and special guest Stephanie Tedstone discuss all things practice management partners and the unfathomable decision not to offer the New to Partnership funding to practice managers. Medics' Money are offering two FULLY FUNDED places on our New to GP Partnership course exclusively for members of the IGPM, who can apply by emailing [email protected]. Want to reach out to IGPM? You can contact them at www.igpm.org.uk Want to reach out to Stephanie about today's episode? You can contact her at [email protected] Download our guide here!

Today Tommy, Ed, and Ed's lovable cat Dante are talking about some top tax tips to help to ease the Cost of Living Crisis. Check what financial help you can get from HMRC. Download our guide here! Get our ebook! Got a question? Get in touch with the team here.

This week Tommy talks with actual rural GPs from the Medics' Money New to GP Partnership Course, along with series regular Andy Pow, about all things rural. From the community spirit during COVID and the challenges of PCNs, to first-hand differences between rural and urban practices, we're really excited to share this week's podcast with you all. Ask us a question! https://www.speakpipe.com/medicsmoney Want to apply for our smash hit course and join more than 150 GP Partners? Follow this link: https://www.medicsmoney.co.uk/gp-partnership-programme/ Music credit to MetzMusic on YouTube.

This week we can't wait to share with you a sneak peak inside our flagship New to GP Partnership Course! Want to apply for our smash hit course and join more than 150 GP Partners? Follow this link: https://www.medicsmoney.co.uk/gp-partnership-programme/ Including clips from: Dr Ed Cantelo telling us about the changes from shifting from employment to being self-employed; Dr Tommy Perkins talking about the role of technology, efficiency, and cost-reduction; Dr Rachel Morris, host of the You Are Not a Frog podcast, talking about well-being and burnout; and Lizzie Lloyd and Andrew Burwood talking about dispensing and non-dispensing practices. Music credit to MetzMusic on YouTube.

A listener's question today on how to avoid NHS Pension tax traps. Want more detail? Then join 34,000 other doctors, dentists and other professionals and download our ebook here https://www.medicsmoney.co.uk/ebook/

Although being a doctor is thought of as a stable and safe job, things can always go wrong. From family emergencies to global pandemics, it's an extremely good idea to have an emergency fund. Listen as Tommy and Ed discuss five reasons why even doctors need an Emergency fund! Join 25,000 other doctors and download our free eBook here!

Listen today as Tommy and Ed talk us through the Spring Statement from Chancellor of the Exchequer, Rishi Sunak. Warning: some doom-and-gloom is found in this podcast. However, to compensate we find out what the Beatles have to do with taxation...?? Music credit thanks to Metz Music on YouTube.

On this weeks podcast we are joined by our most special podcast guest ever? as Tommy and Jo discuss their own family finances. They tell us why talking about money as a family is essential and share there biggest financial mistakes. Link mentioned Get a £150 discount on making a will today https://www.medicsmoney.co.uk/will-writing-service-for-medical-professionals/ Join 25,000 other doctors and read the ebook here https://www.medicsmoney.co.uk/ebook/

How can you teach your kids(and yourself) about money? How is growing fruit trees a metaphor for building wealth? Read Wills book here https://amzn.to/3KHs8U7 Contact Will here https://www.bluetreesavings.com Twitter @bluetreesavigs Facebook: https://www.facebook.com/BlueTreeSavings Instagram: grandpas_fortune_fables

Family finances special including Child benefit, Tax free childcare and maternity pension issues. Plus some advice on sleepless babies and nappies. Useful links Our ebook which covers family tax efficiencies https://www.medicsmoney.co.uk/ebook/ Find out what you can claim https://www.childcarechoices.gov.uk About Lizzy Lloyd https://www.larking-gowen.co.uk/our-people/lizzy-lloyd/

Download your guide here https://www.medicsmoney.co.uk/free-guide/ FAQs here https://www.medicsmoney.co.uk/faq/ Episode 2 from Tommys garage here https://www.medicsmoney.co.uk/ep-2-how-to-claim-a-tax-rebate-and-reduce-your-tax-bill/

An interview Tommy did with Dr Abeyna Bubbers-Jones where we discuss Download the ebook mentioned in todays episode https://www.medicsmoney.co.uk/ebook/ How Medics' Money started How Tommys own financial crisis led to Medics' Money Why footballers, artists and doctors have in common. Why inflation is destroying doctors wealth Pay off debt or invest Simplify building your wealth - spend less than you earn, invest for the future and protect your most valuable asset.

Todays episode is all about classic cars, homes abroad and Capital Gains Tax. Join 32,000 other doctors dentists and professionals getting the latest finial news via email by downloading our ebook here https://www.medicsmoney.co.uk/ebook/ Contact Bridie here https://www.larking-gowen.co.uk/our-people/bridie-iachetta/

Join the hidden gems conference here https://medicfootprints.org/hiddengemsconference/ Subscribe to Medic footprints here https://medicfootprints.org/joinourmission/ Find Dr Bubbers Jones on LinkedIn here https://www.linkedin.com/in/abeynajones/

This is a bonus session featuring some of the 100 members of our GP Partnership course community. More details on the course here https://www.medicsmoney.co.uk/gp-partnership-programme/ Contact Nick here and tell him you're a Medics Money podcast listner for special treatment ;-) [email protected]

Join 30,000 doctors and download our ebook here https://www.medicsmoney.co.uk/ebook/

Our email subscribers got this article 1 month ago. Don't miss out again and join us here https://www.medicsmoney.co.uk/ebook/ Password for this article is "nhsp" https://www.medicsmoney.co.uk/what-do-doctors-need-to-know-and-need-to-do-about-the-mccloud-judgement/ Contact Moore and Smalley here [email protected]

Apply for our New GP Partnership course here https://www.medicsmoney.co.uk/gp-partnership-programme/ Hussains youtube https://www.youtube.com/c/eGPlearning Helens book Link to the book on Amazon: https://www.amazon.co.uk/Complete-MRCGP-Casebook-Consultations-Curriculum/dp/0367627663 Link to our website: https://completemrcgp.co.uk/ Davids website https://www.gptemplates.co.uk/ Davids Youtube https://www.youtube.com/channel/UC10JRUBDHZDKHuQ3U4mHO8g P+J Trains (more importantly!) - https://www.youtube.com/channel/UClgMH8JsspXU_pLlS-f7sEg

Signup up to the webinar here https://www.shapestoolkit.com/medics-money-webinar-optin What you will learn: How to value your time rather than your money (and why that's so important) The key to using your money for MAXIMUM satisfaction, wellbeing and happiness How to live a truly fulfilling and meaningful life - no matter what's in your bank account Download your free thrive week planner https://www.shapestoolkit.com/thrive-week-planner

The Medics' Money coffee machine of choice https://amzn.to/3q0jjv8 Get your financial new year started now with our free ebook. Join 30,000 doctors and download our ebook here https://www.medicsmoney.co.uk/ebook/

Christmas two part special episode counting down the top 10 episodes of all time AND a Christmas present for every listener. Join 30,000 doctors and download our ebook here https://www.medicsmoney.co.uk/ebook/

Christmas two part special episode counting don't the top 10 episodes of all time AND a Christmas present for every listener. Join 30,000 doctors and download our ebook here https://www.medicsmoney.co.uk/ebook/

Want to stay up to date with the latest financial information for doctors? Join 30,000 doctors receiving free financial CPD via email by downloading our free ebook here https://www.medicsmoney.co.uk/ebook/

Apply to join our GP course here https://www.medicsmoney.co.uk/gp-partnership-programme Want to stay up to date with the latest financial information for doctors? Join 30,000 doctors receiving free financial CPD via email by downloading our free ebook here https://www.medicsmoney.co.uk/ebook/ 19/20 AA scheme details https://www.england.nhs.uk/pensions/

Audible free trial here https://www.amazon.co.uk/hz/audible/mlp?ie=UTF8&actionCode=AMN30DFT1Bk06604291990WX&tag=medicsmoney-21 Read a summary of the books and claim your free Audible trial here https://www.medicsmoney.co.uk/recommended-reading-for-doctors/

Want to stay up to date with the latest financial information for doctors? Join 30,000 doctors receiving free financial CPD via email by downloading our free ebook here https://www.medicsmoney.co.uk/ebook/

Want to stay up to date with the latest financial information for doctors? Join 30,000 doctors receiving free financial CPD via email by downloading our free ebook here https://www.medicsmoney.co.uk/ebook/

Bonus episode Our podcast just passed 140,000 downloads and is regularly in the top 10 medical podcasts in the UK. Thanks to listners like you who have told your colleagues about us, together we are helping empower doctors to make better financial decisions and giving doctors the financial education that no one teaches us. Download the ebook here https://www.medicsmoney.co.uk/ebook/ There is NO WAY we could have done this without your support. To say thank you to all of you who've subscribed and told your colleagues about the podcast, we've recorded a bonus episode to help you make better financial decisions. We hope it will give you a simple formula to improve your finances. Tip 1 – Calculate your net worth Net worth is a useful metric to track your progress and in calculating it you will consider your current financial position. Remember, £Net worth = £Total assets – £Total liabilities If your net worth is a negative number, don’t panic. Both of us started with a significant negative net worth. Now you have calculated your net worth, think about how you can increase your assets and decrease your liabilities. Tip 2 - Pay the right amount of tax One way to decrease your total liabilities is to pay the correct amount of tax. This can be as simple as keeping an eye on your tax code and claiming tax rebates and as complex as starting a Ltd company for your private practice and investing in a Venture Capital Trust. As we’ve seen, doing nothing about tax will likely result in a significant overpayment of tax. You should also perform the basic annual checks on your NHS Pension to avoid incurring punitive tax charges. Tip 3 - Protect your assets As soon as possible, insure yourself against disaster. You need an emergency fund and unless you could afford to maintain your current lifestyle if you got sick and couldn’t work, you also need insurance. Protecting your assets can be as simple as buying life insurance and income protection and as complex as creating a will and trust for your assets should you die. Avoid the salespeople masquerading as advisers and use Medics’ Money to find an Independent Financial Adviser specialising in doctors to get the right policy for the right price. Tip 4 - Spend less than you earn Hopefully by now you understand why spending less than you earn is so vital. But you need to actually sit down and analyse your spending and set a budget. Don’t spend £139,000 on lunch at the hospital - it’s really not worth it. More details in the ebook https://www.medicsmoney.co.uk/ebook/ Tip 5 - Repay Bad debt Bad debt is hindering your ability to build wealth and needs to be paid down as quickly as possible. You should not be investing before paying down bad debt. In contrast, good debt, if used correctly can significantly enhance your wealth. Tip 6 - Invest for the future In many ways by training as a doctor, dentist or other professional you’ve already made a great investment in your future. But unless you want to earn very penny of your wealth at the coalface of your chosen profession, you need to invest. Stop trading your time for money and make your money work for you. The earlier you start, the more you can benefit from compound interest. Investing is not hard and good investing is low maintenance, low cost and boring. Tip 7 - Get the right advice for the right price Given the way some elements of the financial advice industry operate, its right that you are wary about finding an adviser to help you. But unless your financial affairs are very simple, its likely at some stage of your career, you will benefit from the right advice for the right price. Armed with the knowledge you can interview and select the right advice for the right price, just as our proprietary algorithm does for thousands of doctors on Medics’ Money. Tip 8 - Stay up to date In the same way you keep your medical knowledge and skills up to date, the same is true for your financial knowledge and skills. Subscribe to our podcast and we will keep you up to date with all the latest financial news.

Today we answer the following questions from podcast listeners working in Scotland: Do you really pay more tax in Scotland? I have an NHS Pension and have moved from England to Scotland. Are there any implications of this? What is the impact of electing for scheme to pay and does it differ from Scheme pays in England? What should I do in relation to the McCloud/Sargeant Judgement? What do you think concerns GP’s most just now I am a newly qualified locum, what do I need to be aware of ? As a newly qualified GP with a mortgage, student loan and high outgoings, is it still beneficial for me to join the pension scheme given that I am hearing of horrific tax liabilities in relation to pensions? Should I set up a Limited company for my earnings? Want to stay up to date with the latest financial information for doctors? Join 28,000 doctors receiving free financial CPD via email by downloading our free ebook here https://www.medicsmoney.co.uk/ebook/ Follow us on Twitter https://twitter.com/medicsmoney Like us on Facebook https://www.facebook.com/medicsmoney

Want to stay up to date with the latest financial information for doctors? Join 28,000 doctors receiving free financial CPD via email by downloading our free ebook here https://www.medicsmoney.co.uk/ebook/ Follow us on Twitter https://twitter.com/medicsmoney Like us on Facebook https://www.facebook.com/medicsmoney

Links for todays episode Fionas Podcast https://podcasts.apple.com/gb/podcast/the-healthtech-vc/id1533197764 Crista Galli Ventures www.cristagalli.com Want to stay up to date with the latest financial information for doctors? Join 28,000 doctors receiving free financial CPD via email by downloading our free ebook here https://www.medicsmoney.co.uk/ebook/ Follow us on Twitter https://twitter.com/medicsmoney Like us on Facebook https://www.facebook.com/medicsmoney

Today podcast is all about Capital Gains tax on property. When does an individual pay capital gains tax on a residential property? How is the potential gain calculated? What the difference categories of residential properties? Are there any reliefs available when selling a residential property? What if the property was gifted or inherited? Is there still capital gains tax to pay? What if I gift a property to a family member or a third party? Surely if I’ve received no proceeds then no CGT is payable? What are the rates of capital gains tax? Do you see this changing in the near future? What about inter spouse transfers? When does capital gains tax become payable? What are the new filing requirements? Want to stay up to date with the latest financial information for doctors? Join 28,000 doctors receiving free financial CPD via email by downloading our free ebook here https://www.medicsmoney.co.uk/ebook/ Follow us on Twitter https://twitter.com/medicsmoney Like us on Facebook https://www.facebook.com/medicsmoney

Some links Emma mentioned during our podcast: Character strengths survey: https://www.viacharacter.org/ Box breathing video: https://www.youtube.com/watch?v=sXirU-uX2vU&t=51s Getting in touch with Emma: LinkedIn: https://www.linkedin.com/in/dremmathurston/ Instagram: @dremmathurston My website:www.halcyonwellness.co.uk

We are getting loads of questions from you about how to retire early, and not just from older doctors. Perhaps this reflects how difficult working in the NHS is right now. Financial Independence Retire Early or FIRE is something we’ve talked about on the podcast Ep 7 and also on our blog and you may know that I’m a big fan of trying to reach Financial Independence FI. But one thing I don’t see discussed much is how the NHS Pension can help you to retire early. So on todays podcast we discuss everything from when cna you retire from the NHS, how can you top up your pension including a discussion about using erbos. We also talk about private pensions and ISAs and we also talk about my own early retirement strategy, which is pretty simple. As ever this podcast is for information only and does not represent financial advice. The value of investments can rise and fall and you may get back less than you invested. If you like this podcast don’t forget to rate review and subscribe and as we continue on our mission to empower doctors to make better financial decisions. Listen to Toms Podcast here https://barnabycecil.com/podcast Contact Tom Skinner here https://www.medicsmoney.co.uk/accountant/barnaby-cecil-financial-planning-limited/

Want to stay up to date with the latest financial information for doctors? Join 28,000 doctors receiving free financial CPD via email by downloading our free ebook here https://www.medicsmoney.co.uk/ebook/ Follow us on Twitter https://twitter.com/medicsmoney Like us on Facebook https://www.facebook.com/medicsmoney

Bitcoin and cryptocurrency is one of the hottest topics right now. In this episode we find out why Tommy doesn't own any cryptocurrency and doesn't plan to. But we also hear how block chain works and hear from Dr Albeyatti why he does like bitcoin. The Medics' Money podcast is for entertainment only and does not represent any form of financial advice. Contact Abdullah here https://www.linkedin.com/in/dr-abdullah-albeyatti-mbbs-bsc-mrcs-ent-mrcgp-49916973 https://medicalchain.com/en/ Want to stay up to date with the latest financial information for doctors? Join 28,000 doctors receiving free financial CPD via email by downloading our free ebook here https://www.medicsmoney.co.uk/ebook/ Follow us on Twitter https://twitter.com/medicsmoney Like us on Facebook https://www.facebook.com/medicsmoney