As a busy GP, the changing employment environment can certainly bring about a financial headache. Whatever your personal contractual employment arrangements are, taking the time to understand how the financial implications will affect your financial future is time well spent.
It is little wonder that effective planning for your future is often bypassed. Too busy, no time or desire to understand the complexities surrounding your financial affairs, could determine an unhealthy future financial diagnosis.
Whether you are currently working for a few medical practices and seem to be forever juggling multiple pay slips, bogged down by tedious paperwork; or have locked yourself into a commercial contract to take advantage of a large lump sum payment; understanding your financial situation can be daunting.
The idea of a large sum of money up front is certainly attractive and may initially appear far simpler than working for several different practices. You may wish to put a down-payment on a house, pay off the car or plan a family holiday. However, these lump sum payments can also bring unwanted financial surprises to the unprepared.
Knowing when to seek help is key.
Putting your trust in a professional will lead you towards the right diagnosis, highlighting any tax implications, and assist you with the planning of your future in terms of investments and superannuation structures. Planning early lays the foundation for your future financial stability, and whilst the AMA provides access to information regarding superannuation and managed funds, they lack access to strategic financial advice.
As a GP you understand how important trust is, that is why at Collins Mann we believe in getting to know exactly what is important to you as an individual. Together, through our 6 step Lifestyle of Choice program and our unique MyUltimateGoal financial tool we endeavour to build and maintain that trust by openly assisting you reach your financial goals.
If you would like to find out how we can help your future, contact us today on 07 3251 3200.