Hey Physio! What is your most valuable asset?
If you are still in the process of building your physiotherapy practice, and are years away from retirement, you would be surprised to know that it is not your house, nor your car, nor your furniture. It is not your existing client base. It is not even your friends and family, as they are priceless.
If you still have a lengthy career ahead of you, your most valuable asset is your ability to work and earn an income.
Your income-earning ability is the most valuable as a loss thereof will have a direct negative impact on your other assets. You will not be able to afford the house or your car. You will not be able to financially support your dependants. You will not be able to build a valuable practice and you will not be able to invest for your retirement.
You insure your house, car and furniture against damage and monetary loss. You should do the same with your income-earning ability.
If you currently earn R 40 000 per month and have another 30 years of working life ahead of you, your ability to earn this income is worth a staggering R 13,7 million in today’s terms. That is an asset worth protecting!
If you employ staff and have other practice overheads, your ability to work is even more valuable, not only to yourself but also the people who rely on you for their income.
To determine the value of your individual income-earning ability, and to ensure that your income is protected in the event of injury, illness, or disability, speak to us about income protection, lump sum disability cover and other benefits to protect your most valuable asset.
Annemie Nieman CFP®
Financial Planner and Wealth Manager
PSG Wealth Northcliff
Email – email@example.com
Cell phone – 072 150 6802
Office – 010 595 2642