One very important query in all doc conferences is “Our practice is good, but it may go down..so buying a property and creating a second source of ‘rental’ income makes sense no? The answer is very simple. When you want to create a second source of income you need to create a secondary asset. The […]
Is a doctor’s practice a service or a business? Frankly I find it very difficult to define it clearly. The costs involved are huge. Even if a doctor wants to do something ‘free’ he / she has to charge some amount to cover the costs and the effort. Forget the money involved, what are the […]
The Indian education system sadly lacks any training on financial matters. So whether you are a CA, doctor or an engineer, you actually have no clue on how to plan your personal financial life. THIS ARTICLE is a request to doctors to see an INSURANCE professional of decent repute to understand their complex insurance requirements. […]
Doctors and Investing part 1 was summarizing the state of affairs of the doctors. Now let us see what they can do about it: 1. Understand that EARNING money is easy. 2. Managing, protecting and growing it is the REAL challenge. 3. Managing means keeping proper accounts, filing returns accurately and on time. 4. Protecting […]
On 19th of July I am addressing a bunch of very smart doctors who have taken part in a competition to reach a particular status. I am doing a very small talk, and will do a long Q n A. I hope they are patient (!!) enough to listen to me..and listen to some unpalatable […]
When a person graduates out of a business school or does his CA he is supposed to help other people in their business. However none of the courses help a person do their own personal financial planning. If we all work for money, should there be not some effort to teach how money is to […]
Let us assume that your grandfather / father bought a space in South Mumbai or Delhi for Rs. 100,000 way back in 1940s… Your father’s practice as a surgeon was very successful and he added some more space to that. Now you are 54 years of age and you are also a surgeon – as […]