Financial planning designed for your world
While we work with a range of professionals at Med-Ex, we specialise in supporting doctors, GPs, senior nurses, dentists and consultants working in the NHS and private practice. With our in-depth understanding of the career structures, pay scales and pension schemes in this field, you can be confident we know how to plan for your specific needs and goals.
You’ll have questions…
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When will you be able to retire?
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How can you make the most of your NHS Pension?
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What shape are your finances are in?
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How might your plans pan out?
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How secure is your family?
…we have answers
We’re here to help answer these questions and more, so you can look forward to the future with clarity and peace of mind. Whatever stage of your career you’re at, we’re ready to guide you through your financial journey as life evolves.
Testimonial
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What’s important to you?
Financial planning for us is about so much more than pounds and pence. We’ve worked with many medical and other professionals to help them re-evaluate their purpose and empower them to find the direction to live their best life. Here are some of their stories.
Pursuing your dreams
Married hospital consultants Dr. R. and Dr. T. came to speak to Med-Ex to make sense of what they had, which included some money to invest, property and other holdings.
When we met with them, we learned that their dream was to spend more time pursuing their passion – climbing and walking in the great outdoors. Leading extremely busy lives, and with no dependent children, they dreamed of taking a break from work while they were still young and fit enough to do what they loved.
We took a careful look at their financial situation and planned a way that they could draw a tax-efficient, stable income from their assets without even touching their NHS Pensions. This gave them the financial confidence they needed to leave their jobs permanently and make their long-held dream a reality.
We believe it’s important to avoid bottling up your dreams and putting off ambitions that aren’t work-related. Sometimes we have to work that bit harder to locate a hidden goal, but once ‘freed’, we help our clients understand it doesn’t have to just be a pipedream!
Being prepared for the unexpected
Dr. A. had to take early ill-health retirement. Although she had a substantive NHS consultant contract with a year on reducing sick pay, this wasn’t enough to provide long-term financial security. This sudden and unwelcome change was also affecting her self-esteem and sense of purpose as a busy and sociable professional.
Dr. A. was an existing client of Med-Ex, so we'd already helped her draw up a savings plan that gave a cushion equivalent to three months’ salary. We were then able to help her obtain income protection and payment protection policy pay-outs and access her NHS Pension. The lump sum she received meant she could pay off her mortgage and debts and start focusing on the future.
After a treatment change resulted in gradual recovery, she went back into private practice before realising she was actually ready to retire, both psychologically and financially. Our long-term planning had paid off.
When life throws a curveball, it’s reassuring to know that at least your finances will be ok. We think ‘save’ is so much more than a four-letter word, which is why we’ll work with you to make sure you’ll have something to fall back on and other safety nets in place.
Retiring sooner rather than later
Dr. S., a GP, and his wife had been Med-Ex clients for some years. Married with two teenage children, the plan was for Dr. S. to retire early so they could spend more time together as a family, as well as on the golf course. His full-time GP role had become increasingly stressful, so it was crucial that they could reach their goal while still being able to maintain the family’s standard of living.
We worked towards that target, calculating what level of income his NHS Pension would provide if he took early retirement and how other investment assets might help. So when Dr. S. did retire as planned, his level of income was more than enough to meet their needs. Being able to enjoy life so much more meant Dr. S. was even able to offer some of his time back to practice without the stresses that bothered him before.
Someone knowing they’ve reached a point where something has to change in their lives focuses the real need to take action. We were pleased to be able to empower Dr. S. to retire when he wanted to and enjoy work as a vocation rather than a burden, without affecting the family finances.
Retiring without debt
We don’t just work with medical professionals. Mr. K. was a printer who came to Med-Ex to discuss his retirement options, having been referred by his employer, an existing client of ours.
Mr. K. wanted to know how he could pay off his mortgage without having to sell his house as retirement approached. While he had several pensions, none were able to provide what he needed to make a difference. After reviewing his pensions and discussing his situation in depth, we were able to consolidate his pensions into one that offered flexi-access drawdown. He was then able to draw a tax-free lump sum to pay off his mortgage, take a higher income than he needed, and invest the remainder to provide for the future. A good way to start retirement!
We love making a difference and giving people the financial peace of mind to live the lives they want. We were also pleased that Mr. K.’s employer thought enough of us to refer him to us!
