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Financial Planning

Why Doctors Struggle with Finances and How Wealthmed Can Help

Why Doctors Struggle with Finances and How Wealthmed Can Help

We see a common story among medical professionals – brilliant minds dedicated to healing others but struggling with their own financial well-being because it’s hard to carve out time and maintain continuity to execute strategies and review finances regularly. On top of that, there’s so much confusion in the general finance world, and most of the information doesn’t apply to doctors. Along the way, we see many financial mistakes because,… Read More »Why Doctors Struggle with Finances and How Wealthmed Can Help

Wealthmed's Blueprint for Financial Success for Medical Professionals - Part 2

Wealthmed’s Blueprint for Financial Success for Medical Professionals – Part 2

In the labyrinth of financial complexities, finding the path to wealth creation can seem like an overwhelming expedition. Amidst a sea of options, strategies, and uncertainties, doctors tell us they want to partner with a firm that can work with them to guide their way forward. At its core, the Wealthmed Integrated Advice Model creates clarity amidst the financial fog. It serves as a comprehensive guide for advisers, empowering them… Read More »Wealthmed’s Blueprint for Financial Success for Medical Professionals – Part 2

Wealthmed's Blueprint for Financial Success for Medical Professionals - Part 1

Wealthmed’s Blueprint for Financial Success for Medical Professionals – Part 1

In the field of tailored advice specifically for medical professionals, Wealthmed’s focus is on comprehensive support and strategic planning. At its core lies the Integrated Advice Model, a meticulously crafted approach designed to seamlessly intertwine various facets of financial practice into each client’s unique trajectory toward financial freedom. This model is at the heart of advice at Wealthmed. This approach is crucial in understanding the intricate interplay of different financial… Read More »Wealthmed’s Blueprint for Financial Success for Medical Professionals – Part 1

6 steps to a sustainable Christmas

Just as the Grinch stole Christmas, excess spending can rob us of all of the yuletide happiness. Seasonal credit card splurges can create ballooning long-term debt, while unnecessary consumption inevitably leads to a blow-out in rubbish bin waste. The Commonwealth Bank of Australia estimates $11 billion is spent on presents each year, including some 20 million unwanted gifts. At the same time, seasonal celebrations boost landfill rubbish by a massive… Read More »6 steps to a sustainable Christmas

Why shared parental leave benefits the whole household

Currently, only one in 20 Australian fathers choose to take primary leave, but with many organisations updating their parental leave policies to remove gender biases, an increasing number of families are reaping the benefits of shared parental leave. From financial benefits to the household, strengthened relationships between parents and their children, greater career growth opportunities for primary caregivers, and flow-on benefits to businesses, shared parental leave brings value to both… Read More »Why shared parental leave benefits the whole household

Why financial advice may be your best investment

It is commonly assumed that seeking financial advice is for the wealthy, and it only helps the rich become richer, yet financial advice can prove useful to anyone who wishes to better their financial future. Financial advice is like getting a health check-up for your financial situation. Your financial adviser is like your personal trainer, assisting you in achieving your best possible financial health. Seeking professional financial advice provides you… Read More »Why financial advice may be your best investment

Salary sacrificing is not just about super!

When most people think of salary sacrifice they think of superannuation. It’s pretty easy to see why. If someone earning $100,000 a year takes the last $10,000 of that amount as cash salary, they will pay $3,900 in tax and the Medicare levy. Salary sacrifice that same amount as a concessional contribution to super and only $1,500 will be lost to tax. The reduction in the annual concessional contribution cap… Read More »Salary sacrificing is not just about super!

The most common financial mistakes that prevent you from saving

Have a good money stream coming in, yet you still don’t have any savings? The world is constantly dangling temptations before our eyes, and it’s never been easier to buy stuff, even if we don’t have the money. The upshot is that we are all susceptible to making some basic financial errors. Individually, these mistakes can be small. Added together, they can really hold us back from financial success. Take… Read More »The most common financial mistakes that prevent you from saving

Wealth protection through the ages

Wealth protection through the ages Insurance plays an important role in any wealth creation and management strategy. There is little point in accumulating wealth if you don’t protect it, or yourself, from unforeseen risks that can undermine the best-made plans. Just as your wealth creation strategy needs to be reviewed on a regular basis, so too does your wealth protection plan. Every stage of life brings exciting challenges along with… Read More »Wealth protection through the ages

The first stage of COVID-19 lockdown

Well, we are in the first stage of a lockdown. Hopefully, this will be enough to flatten the upward trajectory of infections, take the pressure off the health system and keep us all safe. If not, a second stage will likely see most people confined to their homes. This stage was effective in China in stopping the spread (assuming the accuracy of reports) in 2 months or so. As previously… Read More »The first stage of COVID-19 lockdown

Insurance & Income protection if you contract COVID-19

It’s a tricky time for everyone and we really appreciate the wonderful dedicated people who put themselves on the line to care for others.   Do you have questions about your insurance benefits and Covid-19? Generally insurance policies will cover you if you contract Covid-19 for; Death from the virus A traumatic illness as a result of the virus Total and Permanent Disability as a result of the virus Income replacement… Read More »Insurance & Income protection if you contract COVID-19

New Tax Incentives and Other Assistance

The government is temporarily expanding eligibly to income support payments and establishing a time-limited Corona-virus supplement to be paid at a rate of $550/fortnight. Paid to both existing and new recipients of the JobSeeker Payment, Youth Allowance jobseeker, Parenting Payment, Farm Household Allowance and Special Benefit. It will be paid for the next 6 months. The instant asset write off has increased from $30,000 to $150,000 for businesses with aggregated… Read More »New Tax Incentives and Other Assistance

Cash Support for Small Business (employers)

The measures in this package are designed to assist Australian businesses and economic growth in the short term, and encourage a stronger economic recovery following the Corona-virus outbreak. The government will establish the Corona-virus SME Guarantee Scheme, which will support small and medium enterprises (SME’s) to get access to working capital to help them get through the impacts of the virus. The government will guarantee 50% of new loans issued.… Read More »Cash Support for Small Business (employers)

COVID-19 and your insurance cover

You might be wondering what insurance cover you have if you contract COVID-19 It’s a tricky time for everyone and we really appreciate the wonderful dedicated people who put themselves on the line to care for others.   We have had some questions and thought we should send you this brief summary to help you understand where you stand. Your insurance policies will cover you if you contract COVID-19 for; Death… Read More »COVID-19 and your insurance cover

COVID-19 and the global market volatility

This is a significant opportunity as value has returned to the market Massimo Guiati Global CEO of Azimut International It is becoming increasingly apparent that the Corona-virus is far more serious than previous incidents of viral outbreaks, such as SARS in 2003 and H1N1 (swine flu) in 2009. Italy has effectively gone into lock-down / self-isolation and the US has just announced a ban on travel from Europe. The impact… Read More »COVID-19 and the global market volatility

Prepare for the unexpected

A health crisis can occur at any time of life, but the risks obviously increase as we age. Unfortunately, due to this increased risk of illness or injury the cost of insurance for those over 50 can be high. As a result, people in this age group are tempted to drop their insurance cover altogether just when the need is at its greatest. If age 50 is on the horizon,… Read More »Prepare for the unexpected

Financially planning for life stages

Most of us have the desire to be in control of our finances, but taking the first step towards getting financial advice can sometimes be hard. Depending on which life stage you are in, your financial goals will differ. Therefore, it is important to be aware of these different life stages when it comes to financial planning. Additionally, having the right financial adviser to guide you through each stage will… Read More »Financially planning for life stages

Kids + Money – never too early to start.

Teaching your child good money habits and the value of money should start early.  Parents can influence how their children view money in different ways. Teaching your children to manage their money allows them to not only create good financial habits, but also helps them to grow into financially savvy adults.  You might even learn something about your own money habits along the way.  Money is exposed to children almost every day, as they grow older, they will start recognising the currency… Read More »Kids + Money – never too early to start.

The Wealthmed Journey of Locum Sole trading

At Wealthmed, we create services that are simple to use while being detailed enough to meet compliance obligations with the ATO. In this blog post, we will discuss three key areas we can assist you if you are planning on locum sole trading. Tax Perspective Becoming a locum sole trader is a big change – you need to manage your own future tax liabilities, as tax is no longer deducted… Read More »The Wealthmed Journey of Locum Sole trading

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