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Why most doctors and dentists are financial underachievers

There are two things many of our dentist and doctor clients have in common:

1) They underestimate their savings capacity; and 2) They underestimate the financial outcomes they can achieve in 10 or even 5 years.

As a result, many healthcare professionals are financial ‘underachievers’.

Our main ambition is to help our medical clients achieve their full financial potential. The way in which we create the ‘lightbulb’ moment for our client, is through our proprietary modelling process. It allows us to visually demonstrate the following:

1) How much can you save, or in fact should you be saving? 2) What could you financially achieve if you were able to capture those ‘savings’?

What’s more, we can run multiple scenarios ‘live’ in our meeting, which allows you to see the long-term impact of financial decisions such as buying a particular home, etc.

The effect of this process is truly life-changing. For the first time in your life, you are clear about what you want to achieve, and you get the confidence that if you can commit to a plan and financial discipline, you can actually achieve those goals (and more). Many of our clients simply underestimate what is possible, and as result never strive or plan for it.

‘We are surprised that so many efficiencies are possible based on our current and projected income. Dr D.’

It works incredibly empowering, and you become much more focused and accountable in terms of how you manage your money. This is what real financial planning is all about; it has nothing to do with selling products.

Let’s look at a case study.

Dr X and his wife have a young family. Their key goals are paying off their mortgage, providing for private school fees and university fees for their children, as well as undertaking some travel as a family.

Dr X is the only income earner and earns an income in excess of $350,000 in the public hospital system. Despite this income, the family was struggling to see how they could fund all of those goals and also save for their own retirement at the same time.

Thanks to our modelling process, they could clearly see that they were able to comfortably pay off their mortgage in 10 years, whilst also funding school fees, living expenses and holidays. The key then was to set up funding mechanisms and cash flow strategies to run their savings and debt repayment strategies on auto-pilot.

In addition to this cash flow planning, we also assisted the clients with superannuation, insurance, estate planning and investment advice (school fee funding).

What difference do you think this will make to the life of our clients and their families? Do you think their stress levels would have reduced as a result?

If you would like to achieve similar outcomes for yourself and your family, why not contact us today on 08 9381 2704 or email me at

We work with doctors and dentists throughout Australia and undertake regular travel to meet our clients face to face.

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