Author: moneywisedoctor

By Dr. Ndubuisi “Andy” Egwim – MBBS, former NHS Salaried GP, author of The Moneywise Doctor.  Moneywise Doctor provides financial education, not regulated financial advice. Leaving a salaried job can feel like a leap, mostly because your income stops being guaranteed. Income protection when leaving a salaried job is personal cover that replaces part of your income if illness or injury stops you working. Employer benefits generally end when your employment does, so you arrange this cover yourself. Therefore, it helps to understand your position before you resign, not after. A few years ago, I left my own salaried doctor…

By Dr. Ndubuisi “Andy” Egwim – MBBS, former NHS Salaried GP, author of The Moneywise Doctor.  Moneywise Doctor provides financial education, not regulated financial advice. Investment risk for doctors covers more than the chance of losing money. It also includes the effort, stress and time an investment demands, which is why the highest return is not always the best investment. After more than 20 years of investing, I check four things before I put money into anything: risk, effort, stress and time. I call this the R.E.S.T. Investment Framework. This guide explains each check. It helps you judge whether an…

By Dr. Ndubuisi “Andy” Egwim – MBBS, former NHS Salaried GP, author of The Moneywise Doctor.  Moneywise Doctor provides financial education, not regulated financial advice. Most GPs compare salaried and locum work on monthly income. That’s the wrong comparison to make first. Long-term wealth for a GP depends less on monthly pay and more on pension growth, flexibility to increase earnings over time, and how consistently income gets invested rather than spent. A higher headline day rate doesn’t automatically mean a stronger financial position twenty years from now. This guide compares the two paths on what actually builds wealth over…

By Dr. Ndubuisi “Andy” Egwim – MBBS, former NHS Salaried GP, author of The Moneywise Doctor.  Moneywise Doctor provides financial education, not regulated financial advice. Most junior doctors plan to “sort out their finances properly” once things calm down. Delaying financial planning as a junior doctor carries a real cost. It shows up in lost pension growth, missed tax relief, and years of compounding you can’t get back later. The delay itself, not any single bad decision, tends to be the most expensive part. This guide looks at why the wait happens, what it actually costs over time, and what…

By Dr. Ndubuisi “Andy” Egwim – MBBS, former NHS Salaried GP, author of The Moneywise Doctor.  Moneywise Doctor provides financial education, not regulated financial advice. One of the easiest ways to lose money is investing money that shouldn’t have been invested in the first place. The time horizon on your money, not just the investment itself, determines whether investing is the right decision. Money you’ll need within a few years carries different risks to money you can leave untouched for decades. After 21+ years of investing and teaching over 4,400 doctors about investing, I see this mistake surprisingly often. You…

By Dr. Ndubuisi “Andy” Egwim – MBBS, former NHS Salaried GP, author of The Moneywise Doctor.  Moneywise Doctor provides financial education, not regulated financial advice. Eleven years ago today, I landed at London Heathrow for the first time. 16 September 2015 marked the start of my journey from arriving in the UK as an international doctor to eventually becoming financially independent, leaving my salaried NHS job, and building Moneywise Doctor. I couldn’t have predicted any of what came next. This is that story, and the one lesson from it I think matters more than any of the others. How it…

By Dr. Ndubuisi “Andy” Egwim – MBBS, former NHS Salaried GP, author of The Moneywise Doctor.  Moneywise Doctor provides financial education, not regulated financial advice. I bought Dangote shares about twenty years ago. At the time, Dangote Sugar traded around ₦18 per share. Two decades later, another Dangote company is coming to the public market. The Dangote Refinery IPO offers shares at ₦525 each, at a valuation of roughly ₦65 trillion, or about $49 billion, with more than ₦2 trillion reportedly being raised. That price tag raises a very different question to the one I asked twenty years ago. This…

By Dr. Ndubuisi “Andy” Egwim – MBBS, former NHS Salaried GP, author of The Moneywise Doctor.  Moneywise Doctor provides financial education, not regulated financial advice. Many doctors consider going LTFT for wellbeing, family, or training reasons, then get surprised by how the numbers actually work out. The financial reality of going LTFT is that it changes more than your take-home pay. It affects your pension contributions, your progression timeline, and how your income interacts with tax thresholds you were used to before the change. The reduction in hours rarely maps onto a simple, proportional drop in your finances. This guide…

By Dr. Ndubuisi “Andy” Egwim – MBBS, former NHS Salaried GP, author of The Moneywise Doctor.  Moneywise Doctor provides financial education, not regulated financial advice. Picking up extra shifts seems like a simple way to boost income. Then the tax on that extra income comes in higher than expected. HMRC taxes overtime and extra shifts at your marginal rate, not your average rate. This means the tax on additional income can run significantly higher than the tax on your regular salary, especially near a threshold. Your payslip shows one rate on your regular pay. But an extra shift can carry…

By Dr. Ndubuisi “Andy” Egwim – MBBS, former NHS Salaried GP, author of The Moneywise Doctor.  Moneywise Doctor provides financial education, not regulated financial advice. The tax side of this move catches many GPs off guard, often a year after they’ve already made the switch. Switching from salaried GP to locum work changes how you’re taxed, moving you from PAYE deductions handled automatically by an employer to Self Assessment, where you calculate and pay your own tax, often in arrears. The work itself might look similar. The tax administration around it is completely different, and the gap between the two…