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Thomas Dickson explains why having an up-to-date will is crucial for dental professionals and how to put one in place. Gene Hackman’s will has just been released and, despite having a fortune of over £60 million, he left nothing to his adult children. Legal documents suggest his wife, who died several days before him, was…
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Thomas Dickson, chartered financial planner at Wealthwide, reveals how dentists should respond to one of the lesser known but hugely significant consequences of Rachel Reeves’s autumn budget for their pensions. Can it really be true that the latest budget means dentists’ beneficiaries might only receive 10% of pension funds on death? Chancellor Rachel Reeves announced…
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Wealthwide discusses the pros and cons of owning a second property as a dental professional – could renting or leasing be more worth your while? As a dentist or practice owner, you are doubtless spinning countless plates, so purchasing and maintaining an expensive second home could prove more trouble than it is worth. While a second…
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Thomas Dickson shares some tips for succession planning as dental professional – why is it so important and how can you get started? Managing a dental practice (or practices) can leave you juggling patient care, day-to-day operations and your staff – so much so that some of the more critical but not urgent issues such…
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Taking some time to organise your personal finances can save thousands every year. Thomas Dickson provides a month-by-month guide to making the most of your money and simplifying your financial life in 2024. January – request your NHS Total Rewards Statement This is the first step for dentists in the NHS pension scheme to understanding…
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Did you know changes in the NHS pension enable dentists to have a better work-life balance? Thomas Dickson, independent financial planner from Wealthwide, explains how. Getting the balance right in life is tough to achieve – spending time developing your career in dentistry, versus having time with family, or friends. Or, juggling saving for your future…
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Independent financial planner Thomas Dickson from Wealthwide discusses how dentists can help their children and grandchildren financially during tough economic times. Many parents and grandparents are keen to provide financially for the next generation. This is increasingly common given the significant increase in the value of properties in the last few decades; the recent increase…
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It can be a bit overwhelming finding the time to organise your personal finances, particularly if you’ve set other New Year resolutions. Thomas Dickson, chartered financial planner at Wealthwide, provides a month-by-month guide to help you make the most of your money and simplify your life in 2023. January – request your NHS Total Rewards…
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Thomas Dickson explains why getting the right type of cover in dentistry is critical – especially in the current climate. As the cost of living crisis bites, dentists may be tempted to ditch some of their insurance policies in order to reduce spending. However, in a profession that relies on physical and mental wellbeing, reducing…
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For many dentists, understanding their NHS pension is crucial to helping them calculate how much money they’ll have when they retire. Unfortunately, the Annual Benefit Statement, provided by NHS pensions, doesn’t give you all the information you need to make informed choices about your future. Thomas Dickson, chartered financial planner at Wealthwide, explains the five…
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After last week’s mini-budget, chartered financial planner Thomas Dickson sets how the measures will impact dentistry’s finances. The Chancellor’s ‘mini budget’ was supposed to jump start the UK Economy. But since last Friday we’ve seen an unnerving chain of events starting with a significant fall in the value of the pound, prompting the Bank of…
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Before you head off on holiday, it might be time to do some financial planning, review your will, and ensure everything is in place, Thomas Dickson suggests. There’s something about setting off on holiday that makes some people a bit jittery about their future. Have they got all of their affairs in order before jetting…
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Thomas Dickson reveals the key areas where having specialist financial advice can save time and add value. We are living through turbulent times – a cost of living crisis, compounded by soaring gas and oil prices, inflation, disruption in trade caused by Brexit, thousands of dentists leaving the NHS, and low morale in the profession.…
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Thomas Dickson explains why having a plan for your money is crucial. A large lump sum has just landed in your bank account. Perhaps you’ve sold your practice or you’ve just inherited some money. You may be tempted to crack on with paying off your mortgage. Or negotiate the best rate on an investment, or…
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Thomas Dickson explains why understanding your finances is the first step towards making hopes for the future a reality. What do you really want? If you asked yourself what you really love about life, and what you want to be doing more of, what would you say? We’ve been asking our clients this for more…
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Thomas Dickson lists things to consider if you’re looking to invest or withdraw from the stock markets at the moment. As the world watches on in horror at the continued Russian invasion of Ukraine and the resulting human cost, global stock markets are rocked by the uncertainty of a devastating war. In the first week…
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As we approach the end of the tax year on 5 April 2022, Thomas Dickson reveals how to save money by significantly reducing your tax bill. ISAs Individual Savings Accounts (ISAs) are a tax-efficient way of investing your money. If you’re over 18 (16 for a cash ISA), you can contribute up to £20,000 into…
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You’ve worked hard as a dentist, you’ve decided to sell – now’s the time to make sure your money works hard for you. Thomas Dickson, chartered financial planner at Wealthwide shares his experience of working with dentists to help them prepare for when they sell their practice. As financial planners who work exclusively with dentists,…
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Thomas Dickson reveals all on ESG investing and why you should consider it with your investments. Sustainable investing has been attracting a lot of attention in recent months. At the COP 26 Conference last October, the pressing issue of climate change was brought into even sharper focus. Celebrities including Stephen Fry, Richard Curtis and Kelly…
