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Podcast Show Notes: State of Medics Money 2025
00:00 – Introduction & Overview
Hosts introduce the Medics Money mission and the results of their recent financial health check survey for doctors.00:49 – Podcast Purpose & Resources
Discussion of upcoming webinars, mailing list, and resources for doctors to improve their finances.Introduction of the Medics Money team: Cyra (resident doctor & accountant), Andy (specialist medical accountant), Ed (GP & chartered accountant), and Tommy (GP partner & co-founder).03:31 – Survey Results: Tax Relief
Ed discusses the importance of claiming tax relief on professional subscriptions.26% of doctors haven't claimed, resulting in lost money.06:07 – Tax Awareness & Financial Literacy
Only 35% of respondents feel confident about available tax allowances.Discussion of marginal taxation and tax traps.10:48 – Tax-Efficient Investments
Many doctors are not using ISAs or other tax-efficient investment vehicles.Clarification on ISA access and types.43% of doctors regularly invest in stocks, shares, or funds.The importance of investing vs. holding cash due to inflation.16:20 – Attitudes Toward Investing
Discussion on perceived risk and complexity of investing.The need for financial education and trusted resources.19:44 – Property Investment
18% of doctors invest in rental property.Pros and cons of property vs. other investments.23:34 – Saving & Emergency Funds
81% save regularly, but 24% lack a 3-month emergency fund.Importance of liquidity and emergency planning.Only 45% have a monthly budget.Why budgeting is crucial for financial health and reducing stress.41% admit to impulse buying and regretting it.Tips for reducing impulse purchases and the impact of small spending habits.33:36 – Insurance & Protection
49% have life insurance; 35% have income protection.Importance of understanding NHS pension benefits and reviewing insurance needs.39:13 – Financial Worries & Planning
52% worry about their financial position relative to their age.Only 22% have seen a financial planner in the last two years.41:12 – Wills & Record Keeping
Only 29% have a will; 46% keep financial records organized.Why having a will and organized records is essential.44:31 – Final Thoughts & Resources
Hosts reflect on the survey, thank listeners, and share links to free resources and upcoming webinars.Free webinars: www.medicsmoney.co.uk/liveMailing list: www.medicsmoney.co.uk/joinFamily finances guide: www.medicsmoney.co.uk/familyfinancesWill guide: www.medicsmoney.co.uk/willsTax relief guide: www.medicsmoney.co.uk/taxrelief