Why doctors need special financial planning
When it comes to starting a career, doctors are at a disadvantage. While most settle down into their first jobs in their early twenties, medical practitioners start earning when they are almost 30 because of a long training period.
The initial earning phase involves paying off educational loans, starting a family and setting up a practice. “Starting out late and long erratic working hours do influence a doctor’s financial life. They don’t have much time to concentrate on planning their finances,” says Hemant Beniwal, Director, Ark Primary Advisors. Here is what they need to do.