A locum GP learned an expensive lesson when his boiler broke and he had no emergency fund. He'd started investing aggressively after a tax masterclass, then had to sell investments at a loss during a market downturn to cover the repair. The real cost wasn't the boiler, but selling at the wrong time.
I'll give you a quick real world example from a locum GP who attended one of my tax efficient investment masterclasses recently. He shared how he had started investing aggressively with no emergency fund. Things were going well. Everything looked fine until his boiler failed mid winter. It wasn't insured and he didn't have any savings. He didn't want to use a credit card and go into further debt, so he sold some of his investments during a market dip when the market was down. The loss wasn't the market. Markets go up and down. It was timing. You can't invest confidently if you are one emergency away from financial disaster. You need to build your financial foundations first.
