Dr Peter Gray has been a happy member of the Hewison family for 20 years. Peter enjoys involvement in investment decisions and the peace of mind partnering with an ethical and independent advice team gives him.
Ray, a medical professional in the later stage of his career, with his wife Wendy appointed Hewison Private Wealth to develop a financial plan that provided sufficient income to meet their lifestyle in retirement and preserve enough capital to financially assist their children and grandchildren.
In our experience, medical professionals often have the ability to generate high levels of income. Where this is the case, quite often excess cash flow is used to invest in property and other growth assets. While this can be a great way to accumulate wealth over the long-term, it is also important to invest in assets that generate regular and reliable income as this nest egg will eventually fund your living needs.
Medical professionals are typically considered high net worth individuals, due to their income and potential earning capability. However, this often attracts the top marginal tax rate with a sizeable chunk not making it into their pocket.
As an established medico, you will likely be earning more than the average Australian and feel financially secure. But in the 25,000 odd hours of training you undertook, did you cover the management of your personal finances? You may require financial advice to help navigate the tricky waters personal wealth management.