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The Medics’ Money podcast helps doctors, dentists and other professionals make better financial decisions. Hosted By Dr Tommy Perkins and Dr Ed Cantelo, who is not only a doctor but also a Chartered Accountant and Tax adviser.
Episodes
Tuesday Oct 28, 2025
Tuesday Oct 28, 2025
In this episode, Dr. Sandip Patel, an emergency medicine consultant, shares his financial journey and lessons learned over his career. Dr. Patel discusses the importance of early financial planning, the benefits of having a pension, and the impact of good financial advice. He emphasizes the need for doctors to educate themselves about money management to ensure financial security and independence. Dr. Patel also touches upon the significance of collective bargaining in healthcare and his role as a BMA rep. Additionally, he shares personal anecdotes, including his recovery from a stroke and his passion for collecting Lego sets. This insightful conversation provides valuable financial tips and inspiration for healthcare professionals navigating their financial futures.
00:00 Introduction and Guest Welcome
00:33 Guest Background and Career Journey
02:05 Financial Beginnings and Early Decisions
03:50 Importance of Financial Advice and Pension Decisions
06:14 Challenges and Changes in the Medical Profession
14:44 The Role of the BMA and Advocacy
18:04 Personal Financial Planning and Future Goals
21:21 Lego Enthusiasm and Hobbies
25:49 Final Thoughts and Advice
Thursday Oct 23, 2025
Thursday Oct 23, 2025
This video explains how doctors and dentists are unnecessarily losing money by investing in expensive, actively managed funds instead of cheaper passive investments. It highlights the lack of financial education among medical professionals and how it makes them susceptible to high fees and poor returns. By comparing the performance and fees of branded versus generic investment options, the video demonstrates the significant financial impact of these choices and emphasizes the importance of financial literacy. The video also provides resources and tools to help doctors and dentists make better investment decisions.
00:00 Introduction: Doctors and Investment Mistakes
00:27 The Cost of Expensive Investments
01:48 Performance Comparison: Branded vs. Generic Investments
02:35 Understanding Passive vs. Active Investments
03:56 The Impact of Fees on Investment Returns
04:06 Medics Money Financial Dashboard Overview
05:16 Long-term Investment Projections
08:06 The Importance of Financial Education for Doctors
08:38 Conclusion and Call to Action
Want the latest financial tips for doctors and exclusive invites? Join 64,000 doctors here https://www.medicsmoney.co.uk/join-medics-money/
Want a free assessment of your finances? Click here https://medics-hnz5twj1.scoreapp.com
Want to improve your finances fast? Then come on our course
https://www.medicsmoney.co.uk/medics-money-financial-wellbeing-course/
GP partner looking to improve your practice/ Then come on our course
https://www.medicsmoney.co.uk/gp-partnership-programme/
Follow us on Instagram
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Disclaimer:
The information provided in this content is for educational and informational purposes only and does not constitute financial advice. You should not rely on this content as a substitute for professional advice tailored to your specific financial situation. The value of your investments can go down as well as up. Past performance is not indicative of future results.
Tuesday Oct 14, 2025
Tuesday Oct 14, 2025
In this episode of Medics' Money, host Cyra talks with Kai, a urology registrar who recently took a year-long career break to travel the world with his wife and dog. The discussion covers the logistics and experiences of taking a career break, including the financial aspects, such as renting out their home and maintaining car ownership, and insights into the NHS pension system. Kai shares his profound personal learnings about managing work-life balance, especially the difficulty in fully detaching from his professional responsibilities. The episode also touches on the practicalities of using a motorhome for travel, encountering different dog-friendly countries, and the planning necessities for someone in a high-stakes profession. Kai reflects on how the year off has impacted him both personally and professionally, and offers advice for others considering a similar break.
00:00 Introduction and Guest Welcome
00:22 Kai's Career Break Journey
02:30 Challenges and Learnings from the Break
05:18 Returning to Work and Practicalities
11:20 Travel Tips and Reflections
19:26 Support Systems and Final Thoughts
Tuesday Oct 07, 2025
Tuesday Oct 07, 2025
In this podcast episode, a urologist and multi-faceted investor, Randeep Dhariwal, joins as a guest to discuss his ventures in property investment, stocks and shares, and his new aesthetics business. The conversation dives deep into comparing property investing versus stock investing, balancing these pursuits with a medical career, and the importance of financial education for doctors. Randeep shares insights into how he chose his specialty in urology, the significance of fellowships, and offers advice on starting and managing investments. His upcoming aesthetics business and the importance of networking and continuous learning are also highlighted. This episode is valuable for medical professionals interested in expanding their financial knowledge and exploring diversified income streams.
00:00 Introduction and Guest Overview
01:39 Career Journey and Specialisation
03:01 Choosing Urology and Fellowship Insights
06:47 Personal Finance Beginnings
08:12 Property Investment Strategies
10:13 Stocks vs. Property: Pros and Cons
14:05 Financial Education for Doctors
16:30 New Business Ventures in Aesthetics
23:44 Final Thoughts and Future Plans
Tuesday Sep 30, 2025
Tuesday Sep 30, 2025
In this episode of the Medics' Money podcast, Cyra, a doctor and chartered accountant, hosts guests Hanlie and Andy to discuss common pension and payroll issues within the NHS. Hanlie, a full-time consultant anesthetist, shares her personal experience of encountering pension growth discrepancies and a significant annual allowance tax charge due to payroll errors. Andy, a specialist medical accountant, explains the intricacies of the NHS pension scheme, how small data errors can cause large financial consequences, and actionable steps for identifying and correcting these errors. The discussion emphasises the importance of verifying pension data, understanding annual allowance calculations, and seeking professional advice when needed. The episode aims to raise awareness about financial wellbeing among NHS staff and provide practical advice for navigating pension-related problems.
00:00 Introduction and Guest Introductions
01:45 Understanding the Annual Allowance
05:23 Hanlie's Pension Nightmare
11:03 Identifying and Correcting Errors
18:44 Advice for Doctors on Pension Issues
30:36 Conclusion and Final Thoughts
Thursday Sep 25, 2025
Thursday Sep 25, 2025
In this episode of the Medics' Money podcast, Ed, Andy, and Tommy discuss the impact of current UK tax policies on productivity, particularly focusing on fiscal drag and marginal tax rates. They highlight how tax traps are affecting both the public and medical professionals, especially those earning around the £100,000 mark. The team delves into budget speculations, including potential changes in national insurance that could impact GP partners. They also reflect on the V11 scandal involving Premier League footballers to draw parallels with how doctors can be vulnerable to poor financial advice. Key points include the dangers of high-pressure sales tactics, promises of high returns with minimal risk, and word-of-mouth referrals without proper due diligence. They emphasise the importance of financial education and the necessity of using vetted advisors. Additionally, they touch on pension issues, tax-free allowances, and the upcoming Medics' Money Live event.
00:00 Introduction and Overview
00:50 Meet the Medics Money Team
02:09 The New Middle Class Tax Revolt
03:19 Marginal Tax Trap Explained
07:49 Pre-Budget Speculation and Concerns
09:40 State Pension and Triple Lock
13:56 Trump's Investment Strategy for Newborns
18:40 National Insurance and GP Partners
23:00 Government Budget Speculation
23:33 Targeting Wealthier Classes
24:40 Marginal Tax Rates and Policy Behaviours
27:03 GP Partnerships and Business Structures
29:41 Financial Vulnerability of Footballers and Doctors
33:08 Red Flags in Financial Advice
41:59 Final Thoughts and Upcoming Events
Tuesday Sep 23, 2025
Tuesday Sep 23, 2025
A course for GP Partners: https://www.medicsmoney.co.uk/gp-partnership-programme/
E-mails:
Dr Dave Hindmarsh: dave@docsupport.co.uk
For anything YouTube related and if anyone is interested in getting started on YouTube.
Dr Matthew Wickham: matthew@docsupport.co.uk
If you are a doctor looking to get into private practice by yourself and need help setting this up.
Website:
SystmOne: Auto-filling guide: https://www.docsupport.co.uk/product-page/systmone-auto-filling-user-guide
YouTube:
Doc Support: https://www.youtube.com/@DocSupportLtd
Eaglescliffe Medical Practice: https://www.youtube.com/@eaglescliffemedicalpractice
SystmOne Auto-filling guide: https://youtu.be/e4yWR98XE38
Presentation on utilisation of YouTube in practice (40 minute presentation): https://youtu.be/lJF3j5bWhZM
In this episode of the Medics' Money Podcast, Dr. Dave Hindmarsh returns to discuss his journey from a GP trainer and NHS partner to a content creator on YouTube. He rebranded his YouTube channel to 'Doc Support' and collaborates with Dr. Matthew Wickham to provide valuable medical and business content for fellow clinicians. Dave shares insights on managing GP partnerships like relationships, the efficiencies of auto-filing with System One, and using social media to improve patient care. He also delves into the business side of YouTube, leveraging niche content, and the importance of diversifying income streams. The conversation highlights the multi-faceted nature of modern medical practices and the potential of digital tools and platforms in transforming healthcare.
00:00 Reconnecting with Dr. Dave Hindmarsh
00:47 Journey from Military to GP Partnership
03:16 The Importance of Partnership Dynamics
05:42 Building a Supportive GP Community
10:07 Leveraging Social Media for Patient Engagement
14:30 Innovative Approaches in General Practice
17:41 Efficiency and Automation in GP Practices
19:21 The Power of Auto Filing in Clinical Practice
20:26 Collaborative Efforts and Teamwork
23:26 Expanding Beyond NHS Work
26:02 Monetising YouTube in a Niche Market
29:18 The Reality of Being a YouTube Content Creator
33:33 Balancing Partnership and Personal Ventures
35:23 Conclusion and Future Plans
Tuesday Sep 16, 2025
Tuesday Sep 16, 2025
In this insightful episode, Tommy welcomes Dr. Laura Naidoo, a GP from Northern Ireland, for her podcast debut to discuss the thought-provoking book 'Die With Zero' by Bill Perkins. They explore themes like living life to the fullest, spending money on experiences over accumulating wealth, and balancing financial security with adventure, especially from the perspective of medical professionals. The conversation delves into the psychological aspects of money, generational differences in financial habits, and practical tips for maximizing enjoyment and financial health throughout life. Dr. Naidoo shares personal stories and learnings, emphasizing the importance of early financial education and the impactful approach of spending in alignment with one's values and health stages.
00:00 Introduction and Book Recommendation
00:53 Guest Introduction: Dr. Laura Naidoo
01:18 Discussing 'Die With Zero'
03:49 Key Concepts from the Book
06:14 Personal Reflections on Wealth and Experiences
15:21 Impact of Background on Financial Perspectives
18:35 Challenges for Modern Medical Students
20:16 Advice for New Graduates
20:57 Balancing Spending and Saving
21:34 Concerns About Running Out of Money
21:44 The Importance of NHS Pension
23:21 Psychology of Money
24:36 Emotional vs. Logical Financial Decisions
27:28 Taking Sabbaticals and Mini-Retirements
31:11 Traveling with Kids vs. Without Kids
34:25 Summary and Recommendations for 'Die with Zero'
36:18 Final Thoughts and Course Promotion
Want the latest financial tips for doctors and exclusive invites? Join 64,000 doctors here https://www.medicsmoney.co.uk/join-medics-money/
Want a free assessment of your finances? Click here https://medics-hnz5twj1.scoreapp.com
Want to improve your finances fast? Then come on our course
https://www.medicsmoney.co.uk/medics-money-financial-wellbeing-course/
GP partner looking to improve your practice/ Then come on our course
https://www.medicsmoney.co.uk/gp-partnership-programme/
Follow us on Instagram
Follow us on Twitter
Disclaimer:
The information provided in this content is for educational and informational purposes only and does not constitute financial advice. You should not rely on this content as a substitute for professional advice tailored to your specific financial situation. The value of your investments can go down as well as up. Past performance is not indicative of future results.
Tuesday Sep 09, 2025
Tuesday Sep 09, 2025
Want the latest financial tips for doctors and exclusive invites? Join 64,000 doctors here https://www.medicsmoney.co.uk/join-medics-money/
Want a free assessment of your finances? Click here https://medics-hnz5twj1.scoreapp.com
Want to improve your finances fast? Then come on our course
https://www.medicsmoney.co.uk/medics-money-financial-wellbeing-course/
GP partner looking to improve your practice/ Then come on our course
https://www.medicsmoney.co.uk/gp-partnership-programme/
Follow us on Instagram
Follow us on Twitter
Disclaimer:
The information provided in this content is for educational and informational purposes only and does not constitute financial advice. You should not rely on this content as a substitute for professional advice tailored to your specific financial situation. The value of your investments can go down as well as up. Past performance is not indicative of future results.
Podcast Show Notes: State of Medics Money 2025
00:00 – Introduction & Overview
- Hosts introduce the Medics Money mission and the results of their recent financial health check survey for doctors.
00:49 – Podcast Purpose & Resources
- Discussion of upcoming webinars, mailing list, and resources for doctors to improve their finances.
01:32 – Meet the Team
- Introduction of the Medics Money team: Cyra (resident doctor & accountant), Andy (specialist medical accountant), Ed (GP & chartered accountant), and Tommy (GP partner & co-founder).
03:31 – Survey Results: Tax Relief
- Ed discusses the importance of claiming tax relief on professional subscriptions.
- 26% of doctors haven't claimed, resulting in lost money.
06:07 – Tax Awareness & Financial Literacy
- Only 35% of respondents feel confident about available tax allowances.
- Discussion of marginal taxation and tax traps.
10:48 – Tax-Efficient Investments
- Many doctors are not using ISAs or other tax-efficient investment vehicles.
- Clarification on ISA access and types.
12:42 – Investing Habits
- 43% of doctors regularly invest in stocks, shares, or funds.
- The importance of investing vs. holding cash due to inflation.
16:20 – Attitudes Toward Investing
- Discussion on perceived risk and complexity of investing.
- The need for financial education and trusted resources.
19:44 – Property Investment
- 18% of doctors invest in rental property.
- Pros and cons of property vs. other investments.
23:34 – Saving & Emergency Funds
- 81% save regularly, but 24% lack a 3-month emergency fund.
- Importance of liquidity and emergency planning.
26:19 – Budgeting
- Only 45% have a monthly budget.
- Why budgeting is crucial for financial health and reducing stress.
29:52 – Impulse Spending
- 41% admit to impulse buying and regretting it.
- Tips for reducing impulse purchases and the impact of small spending habits.
33:36 – Insurance & Protection
- 49% have life insurance; 35% have income protection.
- Importance of understanding NHS pension benefits and reviewing insurance needs.
39:13 – Financial Worries & Planning
- 52% worry about their financial position relative to their age.
- Only 22% have seen a financial planner in the last two years.
41:12 – Wills & Record Keeping
- Only 29% have a will; 46% keep financial records organized.
- Why having a will and organized records is essential.
44:31 – Final Thoughts & Resources
- Hosts reflect on the survey, thank listeners, and share links to free resources and upcoming webinars.
Links Mentioned:
- Free webinars: www.medicsmoney.co.uk/live
- Mailing list: www.medicsmoney.co.uk/join
- Family finances guide: www.medicsmoney.co.uk/familyfinances
- Will guide: www.medicsmoney.co.uk/wills
- Tax relief guide: www.medicsmoney.co.uk/taxrelief
Tuesday Sep 02, 2025
Tuesday Sep 02, 2025
Want the latest financial tips for doctors and exclusive invites? Join 64,000 doctors here https://www.medicsmoney.co.uk/join-medics-money/
Want a free assessment of your finances? Click here https://medics-hnz5twj1.scoreapp.com
Want to improve your finances fast? Then come on our course
https://www.medicsmoney.co.uk/medics-money-financial-wellbeing-course/
GP partner looking to improve your practice/ Then come on our course
https://www.medicsmoney.co.uk/gp-partnership-programme/
Follow us on Instagram
Follow us on Twitter
Disclaimer:
The information provided in this content is for educational and informational purposes only and does not constitute financial advice. You should not rely on this content as a substitute for professional advice tailored to your specific financial situation. The value of your investments can go down as well as up. Past performance is not indicative of future results.
In this episode of the Medics' Money podcast, Steve Nichols from Nichols Specialist Medical Accountants in London joins Tommy to discuss the complexities and potential benefits of starting a limited company for tax planning. They explore various scenarios where a limited company can offer flexibility in paying less tax, distributing profits, paying off mortgages, and managing pension contributions. The discussion covers the differences between receiving a salary and dividends, the benefits of family investment companies and money box companies, and how to navigate key tax thresholds. They also touch on the considerations and processes involved in setting up a limited company and employing family members. Steve offers valuable insights into the practical aspects and legal considerations, making this a comprehensive guide for anyone considering a limited company for tax efficiency.
00:00 Introduction: Should I Start a Limited Company?
00:27 Meet the Expert: Steve Nichols
01:49 Understanding Limited Companies and Tax Planning
02:54 Flexibility of Limited Companies
3:07 Salary vs. Limited Company Payments
03:52 Tax Efficiency and Limited Companies
11:29 Different Ways to Take Funds Out
17:19 Setting Up a Limited Company
19:42 Family Investment Companies
23:46 Money Box Companies
25:09 Dividend vs. Retained Earnings: Tax Implications
26:15 Members Voluntary Liquidation and Tax Savings
26:33 Understanding Business Asset Disposal Relief
26:59 Money Box Companies: A Tax Strategy
31:12 Cliff Edges in Taxation: 100K and 200K
35:54 Avoiding Pension Tax Charges
40:31 Using Director's Loan Accounts to Pay Off Mortgages
45:22 Employing Family Members in Your Limited Company
48:43 Conclusion and Contact Information