The cornerstone of financial planning is income protection cover. This form of health insurance is designed to pay you an income in the event of you being unable to work due to sickness, injury or accident. The main benefit is that your standard of living can be maintained in the event of a claim. Any benefits are paid tax-free and continue until you return to work, retire or die, whichever is the earlier. The maximum you are allowed to insure is approximately 65% of your gross salary (net profit for self employed).
We are often informed by the media that buying property, be it a home or investment property to let out, is one of the biggest financial commitments you will undertake throughout your life. On top of this the property buying process can be complicated and sometimes daunting, especially for first time buyers.
Advanced Tax Planning
Once you have utilised pension allowances and ISA limits and have the remainder of your financial programme established, you may wish to consider more speculative investments that offer excellent tax breaks. However it's important to realise that speculative investments mean that you should only invest what you can afford to lose!
money4dentists specialises in providing services to the dental profession, assisting dentists with their financial planning. A member of the Association of Specialist Providers to Dentists (ASPD) since 2004, money4dentists has rich experience and understanding of the particular challenges faced by the profession.