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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.

01:32 – Meet the Team

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.

12:42 – Investing Habits

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.

26:19 – Budgeting

Only 45% have a monthly budget.
Why budgeting is crucial for financial health and reducing stress.

29:52 – Impulse Spending

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.

Links Mentioned:

Free webinars: www.medicsmoney.co.uk/live
Mailing list: www.medicsmoney.co.uk/join
Family finances guide: www.medicsmoney.co.uk/familyfinances
Will guide: www.medicsmoney.co.uk/wills
Tax relief guide: www.medicsmoney.co.uk/taxrelief

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