“Health is wealth”—a phrase we’ve heard since our school days. But lately, you might’ve heard the flip side too: Wealth is health.
When we think of “health,” thoughts of physical checkups, mental well-being—or even our favorite doctors—come to mind. But there’s another important kind of health we often ignore: Financial Health.
Paradoxically, while doctors spend countless hours treating everyone’s physical and mental well-being, their own financial health often takes a backseat. Schedules, patient care, and emergencies leave little time for planning budgets and investments. Let’s change that—with a structured prescription for doctors to remain Financially Healthy, backed by stats and new insights.
The Financial Reality for Doctors in India
Doctors in India can earn well—but earnings vary greatly by specialization, location, and experience:
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Fresh MBBS doctors earn ₹4–7.5 lakh per year, while MD/MS specialists earn ₹9–30 lakh and super-specialists can exceed ₹60 lakh annually( futureMBBSaimth.ac.in.)
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Salaries rise with experience: physicians with 10+ years often see ₹15–30 lakh per year (aimth.ac.in.)
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Yet, a financial literacy study found that only 68% of healthcare professionals had adequate financial knowledge—and fewer were savvy in investing (58%) and savings (63%) (ResearchGatePMC.)
Essentially, doctors earn good money—but without financial literacy, even that income doesn’t secure long-term financial stability.
Financial Health Prescription for Doctors
Here’s a structured plan you can follow—your financial checkup list:
1. Clarify Your Financial Goals — Professionally and Personally
Your goals may include buying property, upgrading equipment, education for children, or advanced training. Define them clearly and revisit these regularly as your career evolves.
2. Manage Cash Flows Smartly
Doctor income can fluctuate—especially if you combine private practice with hospital shifts or consultations. Set up reliable income streams (like retained contracts or passive investments) to meet monthly EMIs and bills effortlessly.
3. Estimate Net Earnings and Plan Surplus Use
After a few months in practice, calculate your monthly net income. Budget essential expenses and set SIPs accordingly. Any leftover? Keep it in a liquid fund for emergencies—don’t let it lie idle.
4. Build an Age-Based, Risk-Adjusted Portfolio
Depending on your age and risk appetite, invest via mutual funds aligned with your goals. Easy-to-liquidate instruments like mutual funds—or AI-powered tools—usually work better than illiquid real estate holdings.
5. Secure Yourself Professionally
Professional indemnity insurance isn’t optional—it’s essential. As private healthcare costs rise, even your institution may not provide full protection (The Free Library.)
6. Use Tax-Saving Investments Strategically
Opt for PPF, NPS, and ELSS to reduce tax liability under sections 80C and 80D. These tools secure you while creating wealth too (Right horizons.)
7. Handle Loans Wisely
Take loans only for tax-savvy reasons. Prioritize clearing high-interest liabilities and avoid over-leveraging—keep total liabilities under 50–60% of your income.
8. Think Ahead—And Beyond
With no fixed retirement age, doctors can earn well into their later years. Expand your portfolio, consider charitable ventures like free clinics, or social impact initiatives—especially given rising investor interest in healthcare (over $5.5 billion poured into the sector in 2023) (Financial Times.)
Modern Tools for Doctors to Stay Invested
Feeling overwhelmed? You’re not alone—and you don’t have to go it alone.
Platforms like All Rounder by 5nance offer AI-powered multi-asset portfolios—tailored, reviewed, and adjusted monthly for you. You focus on healing people; let the AI heal your finances.
Final Note
Dear doctors, we salute your ability to heal—now allow yourself the same grace when it comes to your finances.
Follow the financial prescription above. Build wealth as surely as you build health. And if you ever need assistive care for your financial wellness, we’re here to help.
