Upload
nirajnanal
View
78
Download
1
Tags:
Embed Size (px)
Citation preview
Financial Planning Guide for Doctors
Milestone
Education finished practice started
Tablet
Last priority to money management first priority to earning
Finally hard work paid off,
I am a Doctor
Financial Education
School may teach us how to earn money ,but it is useless unless we understand how to manage
money!!!!!!
Milestone
• Two sources of Income.• Many sources of spending.• Money management is on the back burner.
Tablet• Personal Loan• Loan taken from friends.• Increasing the sources of Income.
Happily Married
Milestone
• House is an Asset• Practice property is my need• Car is status
Tablet
• Home Loan• Business Loan• Car Loan
HOME , CAR , CLINIC
Milestone
• Child brings happiness• Child added new dreams
Tablet
• Child policy from agent• Investment agents proposes hot investments
CHILD BRINGS HAPPYNESS
RISK• Cash flow problem –Income is coming on way and going from other side EMI, Taxes, Expenses.
•What if something happens to you???
•Have you created specific plans so that your family doesn’t suffer?
•Are you creating more assets or liabilities?
Tablet
• CA for Financial Planning• Insurance Agent Managing Insurance Portfolio• Referring Friends, Newspaper & Media
Milestone
• Planning retirement• Transferring wealth to next generation
Planning Retirement
When your health is not in order would you like to go to
Doctor or Chemist???
What is missing in the treatment?
• Lack of time given to PFM
• Too many Loans
• Thinking that CA as their Financial Planners
• Inadequate Insurance against the risk of Death,Disability,Criticall
Illness
• Majority Investment in Real Estate
• Investment done in ad hoc manner
• Not keeping proper accounts
Prescription for Financial Health
1. Select a Qualified Financial Advisor.(Preferably a CFP,CWM)
2. Identify your Financial goals
3. Take a holistic View
4. Simplify your financial life!!!!
5. Manage your Emotions
6. Have a written Financial Plan
Do you really need Financial Health Check-up done?