A major expense in your life could be investing in your children’s education. It’s not uncommon to see parents trying to scrimp and save to put their children through private school—but there is a better way.

What if you focussed on the main activity in your practice that you enjoy, achieves the best health outcomes for your patients and is the most profitable? Jim Collins defined this as the “flywheel effect”.

Let’s focus on one aspect of super – the concessional tax rate available only to superannuation funds. Super funds pay tax on contributions into the fund at a rate of 15%.