Best professional indemnity policy recommendations for medical professionals? Dr Good Money is a Doctor who is Good with Money. The Idea of Dr Good Money came with the experience of the Financial Challenges doctors got exposed to during Covid times. It was a general opinion that Doctors profession is stable and recession proof, which till now was considered to be true, and to some extent it actually is. But, OPDs were shut, Surgeries are being delayed, and patients also prefer tele calling with Doctors as visiting hospitals may expose them to more risk, that showed doctors Income may also be in distress in some situations.
You will get a Detailed Financial Plan with clear action points, which will act as a Road Map for you to do well in your Money Life. The Earlier you Start, better it is. But In Financial Planning its never too late. If you are a beginner or have already started investing or have been investing for quite many years, but are not sure which direction you are going and if you are on Right Track or not.
Just Like you, we also do not advise without Diagnosing. So at this step we will require you to fill up the data sheet to share your Complete financial details and goals with us, so we can do our analysis and your Financial Health Check. If you find difficulty in collating data, we handhold you and guide in the whole process. We will do your Risk profiling too, to understand tolerance towards Market movements and what kind of Investment Allocation would suit you for your Long term Investments.
Being into medical profession, I hardly find enough time to manage my investments, insurances and other financials. I tried myself and then many so called professionals’ services from brokers to bankers, but to no avail as everyone was chasing his/her own job targets. My hard-earned money was getting wasted in helping people earn promotions. The financial sector has become so complex that it’s very difficult to understand the technicalities in detail. In such a scenario, you have to depend on someone who can help you in an honest and sincere manner and that too in your interest. I came in contact with Mr. Manikaran Singal in 2008 and I am quite happy with his advice and professional acumen. Read more details on Financial Planning for doctors.
Do Doctors really Need a Financial Planner? Why can’t they do it themselves? Yes. Definitely , they can do it themselves. But it may not be wise thing to do. First, they have to devote so much time learning the nuances of this subject. Then They need to devote time in reviewing the things time and again, with the changing economic and financial scenario. The time which can be best utilized in working on increasing medical knowledge which is an everchanging field, why to devote time in doing your finances yourself when this can be delegated. Plus who better than doctors know what specialisation is all about. They are not specialised in Personal financial Planning.
You understand the Importance of Procedure, Process, Protocols. You follow the same diligently while treating your Patients. A Registered and Certified Financial Planner follow the strict process and don’t prescribe without diagnosis. Monitors as per checklist and Do Timely Review of Vitals. A Chemist is not a Doctor, who knows this better than you. Still patients go to Chemists to avoid Doctors Fees and also to get easy solutions. But ultimately it is the doctor who cures them fully. You also have to understand this and talk to financial doctors (Planners) for your financial health. Yes You are different from your colleagues. your needs and requirements are different than your Friends, your story is different. You just can’t copy them. One size does not fit all in Financial planning. A good financial Planner will Understand your requirements, your risk profile, your goals, your family profile and needs, Short medium and long term goals and then only advice you on the action steps. Discover more information at https://drgoodmoney.com/.