Starting out as a GP brings greater earning potential, but also a host of important financial decisions. This practical, jargon-free session will explore some of the key financial considerations facing early-career GPs, from understanding the NHS Pension and planning for financial independence, to buying your first home, changing cars and building long-term savings and investments. The session will also include an update on the GP jobs market and how changes in career stage, income and working patterns can affect your financial planning. The aim is to give attendees a clear framework for making informed financial decisions now, while keeping longer-term goals such as financial independence and early retirement in sight.
Session includes:
- Understand the key features of the NHS Pension Scheme and why it is an important part of a GP’s overall financial plan
- Explore early retirement and financial independence – including how much you may need and the role of saving and investing
- An update on the GP jobs market, including employment options, partnership and portfolio careers, and how career choices can affect finances
- Consider the key financial factors when buying your first home, including deposit, affordability, mortgage and other associated costs
- Understand the financial considerations when moving up the property ladder
- Compare car finance options, including leasing, PCP and hire purchase, and understand the potential advantages and disadvantages of each
- Explore the basics of saving and investing for the future, including emergency funds, ISAs, pensions and investment portfolios
- Understand how to balance enjoying your income today with building long-term financial security
- Identify some of the common financial planning pitfalls and mistakes made by doctors early in their careers
- Leave with a practical financial checklist/framework for the next stage of your career
This session will be delivered by Greg Povey, Chartered Financial Planner (Independent) Director at GPFinancial – financial advisors who specialise in giving advice to GPs around the UK.
Please ensure that, when booking via MedTribe, the applicant completes the booking using their own personal profile. The account used to log in and make the booking must belong to the individual who will be attending the course.
This is necessary because MedTribe automatically generates a post-course survey and issues the completion certificate to the account used for the booking. In addition, the platform consolidates all training-related elements in one place, including invitations, reminders, surveys, and certificates, while also enabling learners to build and maintain a personal portfolio.
