Ndubuisi Egwim points out that 60% of UK doctors think investing is too risky, even though 78% save regularly. Most keep money in cash accounts and miss tax breaks, losing wealth to inflation. He offers a three-step investing framework built for doctors.
60% of UK doctors say investing feels too risky or too complex. Not 60% of general population, 6 out of 10 doctors. Now these are highly skilled professionals trained to read evidence, weigh risk, take life or death decisions every single day, and yet 6 in 10 of us find investing too complicated to start despite being very hardworking professionals. But this is a different ball game. Now if that's you, you're not alone. Of the 1,600 UK doctors who completed our MedScan, our financial well-being Scorecard. 78% said they save money regularly, and 61% said they have enough savings to cover 3 difficult months. So I've seen this story for years. Doctors who have been saving diligently for a decade, maybe in a regular savings account or even in a cash ISA. They open the ISA, they pay into it faithfully, and they leave it sitting all in cash because investing felt too risky and they were not sure what to do. Sometimes might even be a child junior ISA or junior investment account, and it's sitting in cash. Meanwhile, inflation is quietly taking its toll.. And for some doctors, saving in their regular account, they're actually paying tax on interest, which most of them don't even realize. I see doctors with a SIP, a personal pension, they never invested, just cash sitting there, even in an ISA. This is not a savings problem, it's a financial education disaster. And the cost of that education gap is massive, and it's visible everywhere in the data we've got. The Scrubs Investing Workshop, 3 steps to tax-efficient investing for medics. Comment Scrubs, you get the link.
