Imagine you woke up this morning with the luxury of enough wealth and passive income to have the freedom to choose whether you go to work, or instead enjoy doing whatever you felt like.
- What would that feel like?
- What would you do differently?
- What changes would you make to your lifestyle?
- How would you change the way you practise medicine? For example, would you work 3 days per week and focus more on the areas you enjoy most?
Financial freedom means different things for each of us, but getting there is essentially the same process for us all – building a well-crafted investment portfolio that generates enough passive income to cover your expenses.
As a Doctor, the good news is you are likely to have a much greater propensity to achieve financial freedom if you wish, due to:
- Your much higher than average income,
- Defensive nature of your work and resultant income
- Ability to work and earn more if you wish
- Greater capacity to borrow to create wealth than most other occupations
- Health-permitting, the ability to work beyond the usual retirement age
You are already generating the income, so the next steps include:
- Determining how much passive income you would want to be financially free
- What current investments do you have?
- How much passive income do your investments generate?
- What is the gap between the income your current investments generate and how much you need?
- What is the next best investment towards financial freedom for yourself?
- How much income do you have to direct towards such investments?
- Are there ways of increasing your income and/or reducing your expenses to allow you to achieve financial freedom faster?
Please contact us if you would like to explore further.