A Stupid Tax Law….. But if You Are Stupid, You Will Miss Out on Thousands
I have said for years that our country requires tax reform. The country’s politicians seem to agree but none of them have the guts to do it. So, they tinker on the edges. And because none of them live in the real world most of what they come up with is bonkers. Nuts. And inevitably […]
All We Want is Financial Peace
I once read that financial stress can wipe off several IQ points. So not only can you be poorer but you could end up being dumber too. A double whammy. Seriously, I know that financial stress can lead to anxiety. And it affects medical professionals too even though they earn large incomes because many do […]
Payroll Taxes Will Affect Practices. It Will Affect Contractor/ Independent Doctors Too.
I have the privilege of servicing practice owners and contractor or independent doctors who contract to medical GP Practices. It allows me to see both views. Contractors often complain about how the practice is run and what needs to change. Sometimes they are right. Sometimes they are wrong. Practice owners often complain that their contractors […]
A Call To All Medical Professionals … We Need You!
Why did you become a medical professional? After qualifying from medical school and years in a medical chair I bet you have forgotten why you became a medical professional. Now it’s about Medicare rebates, codes, how full your calendar is or if you can pay the children’s school fees. But I do ask this question […]
Our Kids Need Money and……… Memories
Over the last year I have had numerous meetings with my medical clients who have children and want to ensure their children have a firm foundation from which to build wealth. This does make me happy. That is because all the talks and blog posts are slowly getting though. This week I had another such […]
I can pay my Spouse $80,000 can’t I?
The answer always is it depends. I get it. Medical professionals earn a lot of money. They pay a lot of taxes too. So, if there is a way to get income to a low rate tax paying spouse it makes sense. But as always, it not as simple as that. The reality is that […]
Damned If You Do….. And Damned If You Don’t.
When it comes to arguments between my wife and I, I never win. Obviously. It reminds me of the Serenity Prayer. This basically states I should accept the things I cannot change. And one thing I cannot change is winning when it comes to arguing and my wife. I don’t know how she does it. […]
Investment property …. Not All As It Seems …..
Every 2 weeks or so it is not unusual for us to get a call from a client asking if investment property is a good investment. Even in this uncertain market. The question normally comes about because they have been on a property seminar which promised they will make trillions. Or they have been speaking […]
A Financial Plan is a Minefield…..It shouldn’t be
THE PASSPORT TO WEALTH & REAL FINANCIAL FREEDOM THE PASSPORT TO WEALTH & REAL FINANCIAL FREEDOM (AVAILABLE IN HARD COPY AND EBOOK FORMAT)In this information rich book, author Hitesh Mohanlal Why Medical professionals struggle to create significant wealth or financial freedom despite earning large incomes. The 3 key areas you must have to create wealth […]
Don’t Trust Your Superfund!
I am sure once certain Superfunds read what I have to say to you today there will be deep in the bowels of their organisation a hit man who will be ordered to remove my kidneys and place my head on Brisbane’s Story Bridge as a warning to others. But I don’t care. Because I […]