Episodes
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The Medics' Money team join forces to give their personal New Years' Resolutions as well as general tips to improve your finances. Happy New Year everyone!
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2025 Financial New Year's Resolutions for Doctors
In this special New Year's episode of the Medics' Money Podcast, the team dives into their personal financial resolutions for the coming year. Without Ed's physical presence, but with his voice edited in, the team includes Tommy, Cyra, Andy, and Matthew. They share their goals and advice for 2025, discussing topics like handling emergency funds, contributing to ISAs, improving credit scores, reviewing direct debits, and exploring offset mortgages. The team offers practical advice for doctors on automating savings, investing smartly, and ensuring financial well-being. Tune in to get inspired and kickstart your financial goals for 2025 with expert insights from Medics' Money!
00:00 Introduction and New Year's Greetings
01:09 Cyra's Financial Resolution: Managing the Emergency Fund
01:56 Tommy's Insights on Emergency Funds and Investments
07:05 Matthew's Resolution: First-Time Home Buyer Tips
09:16 Andy's Resolution: Starting Something New
13:55 Ed's Inserted Segment: Overpaying Mortgages and Direct Debits
21:26 Tommy's Personal and Financial Resolutions
25:32 Conclusion and Looking Ahead to 2025
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MedicsMoney Christmas Quiz 2024: Festive Fun and Finance
Join the MedicsMoney team as they celebrate Christmas 2024 with a special festive quiz! Test your knowledge on financial topics covered throughout the year and see if you can beat the team in this fun and entertaining episode. From stock market investments to NHS pensions and even festive trivia, there's something for everyone. The video also features a guest appearance by Cyra's dog, Nemi. Happy Christmas to all our viewers!
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Want to educate yourself with expert guidance about investing?
Head over to --> www.medicsmoney.co.uk/fwb
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Ed takes us through the recent pay uplift that many doctors would have received this November.
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https://www.medicsmoney.co.uk/fwb
Register for live teaching
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In this episode, the speakers discuss their previous live financial teaching sessions and announce two upcoming events where attendees can learn to fix their finances fast. They then replay the Q&A section from a recent session, addressing various questions about salary sacrifice and its impact on NHS pensions, annual allowance tax charges, student loan repayments versus investments, and more. The experts share insights on investment strategies, including the pros and cons of using ISAs and robo-advisors, as well as practical advice on managing GP pension records and making tax-efficient decisions. Detailed timestamps of the Q&A are provided to help listeners find specific information.
00:00 Introduction to Live Financial Teaching Sessions 00:30 Upcoming Live Sessions and Registration Details 00:53 Podcast Overview and Q&A Replay Announcement 02:30 Salary Sacrifice and NHS Pension Impact 04:18 Annual Allowance Tax Charge Explained 06:05 Student Loans: Pay Off or Invest? 08:56 Investment Strategies and Robo-Advisors 10:24 Pensionable Pay and Family Protection Benefits 14:51 Investment ISAs and Retirement Strategies 19:24 GP Pension Records and Fixing Gaps 23:02 Conclusion and Upcoming Webinars
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Now the dust has settled, let's find out how the dust will affect NHS doctors with special guest star Mike Harms from Medical and General IFA.
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Join the chair of BMA GPC Katie Bramall-Stainer for a live podcast recording to members of our GP Partnership Community.
How to sort out NHS Pension on PCSE
https://youtu.be/9Q3O34IapOE?si=2Hya6deAXP4n6l0d
GP Partnership course
https://www.medicsmoney.co.uk/gp-partnership-programme/
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Want to improve your finances fast? Then come on our course
https://www.medicsmoney.co.uk/medics-money-financial-wellbeing-course/
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In this episode of the Medics Money podcast, Dr. Cyra Mackintosh, a doctor and chartered accountant, discusses with Andy Pow, a medical specialist accountant, the differences between GP partnerships, limited companies, and LLPs. They delve into the pros and cons of each structure, including liability concerns, tax implications, and how they affect the financial operations of GP practices. The episode aims to provide up-and-coming GPs with fundamental knowledge to navigate the business aspects of GP practice effectively.
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https://www.medicsmoney.co.uk/medics-money-financial-wellbeing-course/
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00:00 Welcome to the Medics Money Podcast00:50 Introduction to Andy Pow01:57 Understanding GP Practice Structures03:39 Pros and Cons of GP Partnerships05:14 Limited Companies in the GP Space07:03 Risks and Considerations for Limited Companies11:07 Tax Implications of Limited Companies22:57 Exploring Limited Liability Partnerships (LLPs)27:16 Final Thoughts and Advice -
Tommy takes us through not what investments he owns, but 5 questions any doctor can ask before starting investing to get the right mindset secured!
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Want to improve your finances fast? Then come on our course
https://www.medicsmoney.co.uk/medics-money-financial-wellbeing-course/
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Want the latest financial tips for doctors and exclusive invites? Join 56,000 doctors here https://www.medicsmoney.co.uk/join-medics-money/
Want a free assessment of your finances? Click here https://medics-hnz5twj1.scoreapp.com
Want to improve your finances fast? Then come on our course
https://www.medicsmoney.co.uk/medics-money-financial-wellbeing-course/
GP partner looking to improve your practice/ Then come on our course
https://www.medicsmoney.co.uk/gp-partnership-programme/
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Tommy and Andy take you through everything you've need to know and do if you have, or haven't yet, received a brown envelope in the post...
McCloud explained https://www.medicsmoney.co.uk/what-does-the-mccloud-judgement-mean-for-my-nhs-pension/
Find a Medics’ Money approved accountant to help https://www.medicsmoney.co.uk/medical-accountant/
HMRC triage tool (watch YouTube before using) https://www.gov.uk/guidance/calculate-your-public-service-pension-adjustment
Mastering NHS Pension Adjustments: Expert Guidance and Essential StepsThis episode provides a comprehensive guide to navigating the complexities of NHS pension adjustments in light of the McCloud remedy. Host Tommy, along with specialist Andy Pow, delve into the background and implications of recent pension changes, offering essential tips for recalculating annual allowance tax charges and understanding eligibility for compensation. They explain the use of triage tools, the submission process for revised tax data, and the importance of meeting deadlines to avoid penalties. The discussion also highlights difficulties NHS staff face in obtaining accurate pension data, especially in Scotland, and the necessity of seeking professional financial advice. Listeners are encouraged to verify their pension records, understand tax implications, and use resources like the Medics Money website for expert guidance. Practical steps for managing pension-related disclosures and avoiding common pitfalls are provided. -
Tori from Honey Barrett Chartered Accountants takes us through limited companies for doctors today.
AI generated summary: Tori Fergusson
In this insightful episode, we dive into tax-efficient ways to extract money from a limited company and navigate HMRC compliance checks with Tori Fergusson from Honey Barrett Specialist Medical Accountants. We discuss directors' loans, employing spouses, avoiding tax investigations, and much more. Tune in to empower yourself with essential financial knowledge! Introduction & Listener Questions Welcoming Tori Fergusson Why Honey Barrett? Expert Discussion: Limited Companies Tax-Efficient Ways to Extract Money Compliance Interactions with HMRC Handling Information Notices Real-Life Case Studies Conclusion & Contact Information
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Tommy and Ed dive into a Q&A session featuring queries from doctors at the recent Royal College of Obstetrics and Gynaecology National Trainees Conference. Topics covered include investing in children's Junior ISAs, the impact of pay errors on NHS pensions, the global diversification of the S&P 500, and the complexities of National Insurance for multi-employer doctors.
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Overcoming Challenges as a GP Partner ft. Dr. Rebecca Keogh
Join Dr. Tommy Perkins, Dr. Ed Cantelo, and Dr. Rebecca Keogh on the Medics' Money Podcast as they delve into the realities and challenges of being a GP partner running a practice. Dr. Keogh shares her journey through a challenging situation when her practice manager unexpectedly left, and how she navigated the crisis with the aid of the MedicsMoney GP partnership course. She discusses the importance of community support and professional help in handling the administrative and financial aspects of running a practice. Learn from her experience and gain insights into maintaining morale, managing finances, and adapting to unexpected changes in a healthcare setting. This episode is essential for healthcare professionals seeking to improve their practice management skills.
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GP partner looking to improve your practice/ Then come on our course
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00:00 Introduction to the Challenges of Being a GP Partner
01:26 Meet Dr. Rebecca Keogh: Overcoming Practice Challenges
02:16 The MedicsMoney GP Partnership Course Impact
02:50 Facing Unexpected Challenges: Practice Manager Departure
04:11 Navigating Financial and HR Responsibilities
16:56 Recruitment and HR Solutions
24:05 Reflecting on the Journey and Future Outlook
27:29 Conclusion and Final Thoughts
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Predicting the 2024 Budget: Insights for Medics and ProfessionalsIn this episode of the MedicsMoney podcast, Dr. Tommy Perkins and Dr. Ed Cantelo discuss the potential changes in the upcoming budget by Labour Chancellor Rachel Reeves. They delve into the implications of a £22 billion black hole on the economy, explore possible tax adjustments, and debate the future of capital gains tax, pension tax relief, and inheritance tax. The episode also includes insights into effective financial planning for doctors, emphasizing the importance of early action on ISAs and private pensions. This podcast is aimed at helping medical professionals navigate potential financial changes and make informed decisions.
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00:00 Introduction to the Upcoming Budget00:21 Meet the Hosts and Their Summer Adventures02:27 Discussing the Labour Government's 22 Billion Pound Black Hole04:06 Current High Tax Burden and Predictions09:36 Potential Changes in Capital Gains Tax17:40 Speculations on Pension Tax Relief24:21 Inheritance Tax and Other Speculations33:28 Final Thoughts and Financial Advice42:25 Conclusion and How to Stay Updated -
Tommy is joined by Rhoda from the Financial Wellbeing Course to explain how she revolutionised her finances in just 8 weeks? https://www.medicsmoney.co.uk/medics-money-financial-wellbeing-course/
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This week we're deep diving into a question we get asked all the time: I have an NHS Pension, but should I invest in a private one too?
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AI Solutions for Doctors with Dr. Don Pimenta. Join Tommy on the MedicsMoney podcast as they welcome back Dr. Don Pimenta from Tortus AI. They discuss the transformative potential of AI in the medical field. Dr. Pimenta demonstrates how Tortus AI technology can streamline administrative tasks for doctors, particularly noting its impact on documentation and workflow efficiency. They also delve into the complexities of implementing AI solutions within the NHS, ensuring data security, and the future of AI in medicine.
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00:00 Welcome Back to MedicsMoney Podcast
01:26 The PPE Journey During the Pandemic
04:14 Innovative Solutions and Collaborations
06:22 Introduction to AI and LLMs
07:01 Demo of Tortus AI for Doctors
16:27 Recording Setup and Initial Impressions
17:05 How the AI System Works
20:51 Privacy and Security Measures
23:44 Challenges of Innovating in the NHS
31:35 Future of AI in Healthcare
36:51 Conclusion and Final Thoughts
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Part two of the Medics' Money MBA!
https://www.medicsmoney.co.uk/mba/
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Head over to medicsmoney.co.uk/property to register your interest in Property information today!
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