Evidenced based investing strategies for doctors

[@MedicsMoney]

Learn Evidence Based Investing here www.medicsmoney.co.uk/medics-money-financial-wellbeing-course/

[@TheNaughtyKing1]

I think one of the key points from this (already knowing the basics of holding a simple global tracker in a tax-efficient platform) was the point that you have an NHS pension that diversifies your assets - so you can afford (generally speaking) to stay in equities for longer. 👍 Worth considering for me now i’m paying more attention to the structure of my portfolio in terms of asset classes.

[@MedicsMoney]

💯🎯🎯🎯

[@ajaysudan6834]

so what platform do you use to have a passive strategy? or are you paying a company/individual to do that? sounds like a good plan, but practically how do you do it?

[@whiteandbrown3090]

Absolutely not offering financial advice - but a good place I started was opening a vanguard ISA and buying a readymade fund (very low cost and most investors recommend it as a brilliant starting point). Not financial advice but it was my starting point for passive investing

[@ajaysudan6834]

Thank you. I will not take that as financial advice! I could figure out that trading app whatever advertised on KZbin wasn't the right answer. Just wasn't sure if to have a globally diverse fund to invest in was something I could open myself, or I have to hire an intermediary. Because then it's like which intermediary do you use? Which of them are using evidence based practice? Are there lots of options in the setting of slowly compounding interest funds? His advice seems sound just lacking practical advice.

[@whiteandbrown3090]

@@ajaysudan6834 there are a few options. Vanguard have “target retirement funds” which you can store in an ISA and they track world stocks / shares and bonds and do so automatically and adjust your risk (which is absolutely brilliant). Remit Sethi who is one of the biggest finance guys says this should be default for most people and does the vast majority of the work and one can pay in monthly. People can do a DIY job, open up a stocks and shares ISA with HL, trading 212 and buy a world index fund. In honesty, sometimes going with Vangaurd may be better for some people as it’s less sexy and reduces the chance of messing up / buying rogue companies. 2 great books I recommend - “I will teach you to be rich” by Ramit Sethi (he has a great Netflix show too) and “the psychology of money”

[@MedicsMoney]

Love Vanguard and love Ramit Sethi but DON’T love target date retirement funds for doctors or those with a db pension! This is an example of what I talked about at 6:00-6:30 in the video and an example where generic advice that’s perfectly good for most people may not apply to doctors or those with a DB pension. Ask yourself - what does the evidence show the effect of more bonds in a portfolio? Then Ask yourself what a target date retirement fund does? A - increases allocation of bonds as retirement date approaches - often WAY before the target date. Then ask yourself what the evidence shows this increased bond allocation would affect your returns? Then ask if those that already have an NHS pension (low/zero risk investment) need this? Not advice. Dyor or come on this www.medicsmoney.co.uk/medics-money-financial-wellbeing-course/

[@ajithgopinath1149]

@@MedicsMoney The US Vanguard TDFs mirror the Total stock market in terms of asset allocation with TER