Overview

Financial Planning for Doctors may not look different if you consider this from Investment perspective only. But the specific risk that doctors face in life due to their profession (Health Risk), Education (Late entrant) and most importantly the behavior risk due to their being a Human, makes it more important for these professionals to consider the Money Management Seriously. Doctors in general start earning in their late 20s. Unlike other professions such as engineering, or CAs, doctors start earning late. Acquiring a doctor’s degree is the result of years of hard work in academics, many years of training, and spending a huge sum of money. MBBS, post-graduation, specialization, etc. all this takes quite a time of their youth and initial money-compounding years. This is not all, in this ever-changing scenario, they need to stay relevant and updated by attending conferences, participating, and reading the researches, and all these further demands their time and money. Their Stable and expected ever growing Income, expose them to many missellers and Doctors end up accumulating many Investment products which does not suit their long and short term needs. Due to the Busiest profession they are into, they do not have enough time to give to their Finances which results into having so much leakages in their Money management, and makes it further more important for them to put their Money into a Process, and follow the same the discipline which they want their patients to, for their Physical wellness. But Behavior biases does not let them work towards wellness and thus Doctors most of the time behave like their patients and end up taking advice from Product Sellers (Read Chemists), which is not advisable for their financial Health. We at Dr Good Money are CFP Professionals and SEBI Registered Investment Advisors, thus authorized by the Financial regulator to Provide Financial Planning and Investment Advisory services to Doctors under a Fiduciary capacity