Medics Money podcast

• Ep 301: How student loans are punishing new doctors??

  Editors note: this episode originally aired on 'What Medical School Doesn't Teach Us' in 2024. In this episode of Medics' Money's podcast, Cyra interviews Matthew to discuss the intricacies of UK student loan plans, particularly focusing on the differences between Plan 2 and the newly introduced Plan 5. They elaborate on loan repayment mechanisms, interest rates, and repayment terms for each plan. Matthew explains the concept of a graduate tax and addresses misconceptions about paying off student loans. The episode also touches on the financial burdens faced by students, the impact of loan repayments on future financial prospects, and the importance of evaluating the necessity of taking on such debt. Listeners are encouraged to consider their personal circumstances before committing to student loans. For questions, listeners can reach out via provided email contacts. 00:00 Introduction and Welcome 00:48 Understanding Student Loan Plans 01:16 Plan 2: The Graduate Tax 03:27 Plan 5: New Changes and Implications 05:14 Comparing Plan 2 and Plan 5 06:13 The Real Cost of Student Loans 07:16 Good Debt vs. Bad Debt 08:11 The Financial Burden on Students 12:25 Conclusion and Contact Information

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• Ep 300: Breaking Out of the NHS: Steps to a New Career

  In this episode, Dr Kurar discusses the pressures faced by NHS doctors and the steps they can take to transition from clinical medicine to industry roles. Dr Kurar outlines the importance of financial education, the power of LinkedIn for networking, and the various transferable skills doctors possess. Additionally, they share personal experiences, including setting up a property investment venture and optimising company pension schemes. The conversation provides a comprehensive guide for doctors contemplating a career change, emphasising the significance of planning, LinkedIn optimisation, and leveraging existing skill sets.   00:00 Introduction: Transitioning from NHS to Industry   01:05 Dr Kurar's Background and Motivation   01:12 The Role of Financial Education   01:58 Discovering the Podcast and Initial Steps   02:42 Current Role in Regulatory Space   03:58 Maintaining Clinical Work and Side Hustles   04:41 Steps to Transition from NHS to Industry   06:41 Leveraging LinkedIn for Career Transition   11:28 Transferable Skills for Doctors   13:12 Financial Aspects of Transitioning   16:12 Property Investment Journey   20:39 Concluding Thoughts and Advice

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• Budget 2025 - The impact on doctors finances

  In this episode of the Medics Money podcast, Ed Cantelo and Andy Pow discuss the recent budget announcements made by Chancellor Rachel Reeves. They delve into the implications of tax changes for healthcare professionals, including income tax thresholds, property income tax rates, and changes to ISAs. The conversation also covers NHS spending plans, pension taxation, and the introduction of new vehicle exercise duties. Ed and Andy provide insights into how these changes may affect listeners, particularly those in the medical field. 00:00:00 Introduction and Overview 00:00:00 Income Tax Changes 00:00:00 Property and Dividend Tax Updates 00:00:00 ISA Allowance Adjustments 00:00:00 NHS Spending and Pension Updates 00:00:00 Vehicle and Council Tax Changes 00:00:00 Conclusion and Listener Impact

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• Ep 299: Investing in Yourself: Dr. Hassan's Approach to Financial Success for Doctors

  Empowering Medical Professionals: Financial Insights with Dr. Hassan In this episode of The Medics Money Podcast, Dr. Hassan makes his debut. He's an F2 doctor in the NHS, active on social media as Dr. Hassan Finance. Dr. Hassan discusses the importance of financial literacy for healthcare professionals, sharing insights on investment strategies, the significance of transparent financial discussions, and the concept of the FIRE (Financial Independence, Retire Early) movement. He also speaks about the current financial struggles in the NHS, including the need for fair pay and the upcoming doctor strikes. Additionally, the conversation covers practical advice on managing personal finances, maximizing income, and cutting unnecessary expenses for a balanced approach to financial wellness. 00:00 Introduction to Medics Money Podcast 01:24 Special Guest: Dr. Hassan on Financial Wellbeing 03:30 Breaking Financial Taboos in Medicine 07:27 Investing: Mindset Over Stock Picking 11:13 The Power of Compounding and Long-Term Investing 15:25 Time vs. Money: The Ultimate Wealth 18:22 The FIRE Movement and NHS Pension Concerns 23:59 Opting Out of the NHS Pension: Pros and Cons 24:26 The Financial Benefits of Staying in the NHS Pension 25:44 Considering Personal Circumstances and Financial Advisors 27:17 The FIRE Movement: Tips and Strategies 28:07 Balancing Income and Expenses for Financial Independence 29:34 The Importance of Having a Financial Plan 34:43 Social Media and Financial Advice for Doctors 40:25 Upcoming Resident Doctor Strikes 44:31 Conclusion and Final Thoughts

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• Ep 298: Inflation is making everyone poorer (except Bitcoin holders)

  In this episode of The Medics' Money Podcast, Tommy dives into Bitcoin with guest Dr. Fahim. Dr. Fahim, a GP and finance enthusiast, critiques the financial system, explaining the historical context and the current monetary practices that make Bitcoin valuable. They discuss Bitcoin's role as a store of value, its volatility, and its potential in a diversified investment portfolio. The conversation covers the broader economic impact of inflation, central banking, and the technological trends shaping the future of finance. This episode is a comprehensive guide for professionals looking to understand Bitcoin's place in the market and its potential impact on their financial strategies. Follow @thesecretdoc 00:00 Introduction to Medics Money Podcast 01:22 Guest Introduction: Dr. Fahim 02:23 Understanding Bitcoin and Economic Systems 07:56 The History and Evolution of Money 12:36 Inflation and Its Impact on Wealth 19:45 Investment Strategies and Portfolio Management 22:58 Bitcoin's Role in Modern Portfolios 32:06 Bitcoin's Dominance in the Market 32:29 Questioning Bitcoin's Valuation 34:47 Fundamental Properties of Bitcoin 35:05 Bitcoin's Role in Global Conflicts 37:02 The Value of Decentralisation 39:38 Bitcoin as a Store of Value 41:04 Bitcoin's Adoption and Volatility 46:07 Comparing Bitcoin to Traditional Investments 50:27 The Future of Bitcoin and Technology 54:57 Final Thoughts and Investment Advice

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