Today we're discussing some of the financial lessons that we can learn from some of the wealthiest and broke athletes in the world. We look at both the pitfalls to avoid and the gold we can glean. π Please read our disclaimer + warnings before listening to this episode π Episode transcripts π‘ Join our facebook group for healthcare professionals πΈ Quick links to our resources and $20 off The Glen James Spending Plan my millennial money professional is produced by SYMO interactive, home of my ...
Mar 14, 2023β’22 min
Retiring can be a difficult lifestyle transition after years in the workforce so it's important to start planning before you retire. Today we're unpacking the stages of retirement, touching on: ππΎ what is retirement? ππΏ factors that might influence when you decide to retire ππ» the psychological impact of retiring π pre-planning ππΌ the actual day ππ½ the honeymoon period ππΏ the business side ππΎ reorganising your life ππ» the final phase π statistics π Please read our disclaimer +...
Mar 07, 2023β’18 min
In today's episode we're diving deep into the world of private health insurance with a comprehensive break down of what it is and how it works. Dev talks about: ππΎ what is private health insurance and what is it's benefit ππΏ how bulk billing works ππ» why is health care becoming more expensive in Australia π the stealth health care tax we don't know about ππΌ private health product tiers ππΏ out of pocket expenses ππ» coverage, rebates & premiums π lifetime health cover loading ποΏ½...
Feb 28, 2023β’52 min
We're back with another Q&A! In today's episode Dev unpacks questions about: ππΎ accrued leave, time in lieu & paid overtime ππΏ financial implications of various medical careers / specialties ππ» how to charge a higher rate π hedged vs non-hedged ETFs ππΌ LICs and DSSPs Related listening π§ 118 what is DSSP? 102 what is a dividend reinvestment plan (DRP)? 065 dividends vs distributions 031 what is dividend investing? 020 what are franked dividends? 036 listed investment companies (...
Feb 21, 2023β’39 min
In today's money wins episode we interview Dr Nick (name changed for anonymity), a millennial doctor and investor with a multi-million net worth. Nick shares his approach to spending, saving, investing and debt as well as his encouragement for medical students. π Please read our disclaimer + warnings before listening to this episode π Episode transcripts π‘ Join our facebook group for healthcare professionals πΈ Quick links to our resources and $20 off The Glen James Spending Plan my millennia...
Feb 14, 2023β’41 min
Today on the show Dev breaks down the supply chain phenomenon called the bullwhip effect, touching on: ππΎ how supply chain dynamics work ππΏ the bullwhip effect and what it indicates ππ» how to minimise the risk of the bullwhip effect occurring π vertical integration π Please read our disclaimer + warnings before listening to this episode π Episode transcripts π‘ Join our facebook group for healthcare professionals πΈ Quick links to our resources and $20 off The Glen James Spending Plan m...
Feb 07, 2023β’15 min
Recessions are normally followed by an economic recovery, do you know the different types? Dev explains: π what an economic recovery is ππΌ the signs of one ππ½ how fiscal and monetary policies relate to economic recoveries ππΎ the different recovery 'shapes' and which are the most common Related listening π§ 248 what is stagflation π Please read our disclaimer + warnings before listening to this episode π Episode transcripts πΈ Quick links to our resources and $20 off The Glen James Spend...
Jan 31, 2023β’24 min
In today's episode Dev chats about: ππΎ is buying a home worth it? ππΏ buying your own home vs investing in property ππ» what gets noted in a building and pest inspection ππ½ 7 steps of the buying process π pros and cons of investing in property ππΌ the risks and how to manage them Related listening π§ 049 leverage vs margin! 011 buy a home with your head, not your heart! 235 Q&A: working rurally, property vs shares, BAS, GST & sole trader income π Please read our disclaimer + war...
Jan 24, 2023β’46 min
Can money buy happiness? Dev thinks it's the wrong question to be asking. Let's talk about it. Today's episode touches on the science behind happiness and what the data says about the relationship between money and happiness. Here's the study Dev mentions in the episode: https://www.hbs.edu/ris/Publication%20Files/FinancialScarcity_SPPS_accepted_November1_2021_06f87dd3-4474-4c92-88d1-a5c6b63a2eaa.pdf π’ PSA: Dev doesn't endorse any specific financial products so beware of scammers using his name...
Jan 17, 2023β’29 min
Today's episode is all about recession: what it is, what causes it and what you can do about it. Dev touches on: π what is a recession vs what is a depression ππΌ what is a business cycle ππ½ examples of past recessions ππΎ triggers and causes ππΏ how you can protect yourself during a recession Related listening π§ 248 what is stagflation? 209 what is a financial bubble? π Please read our disclaimer + warnings before listening to this episode π Episode transcript: https://bit.ly/m3meptran...
Jan 10, 2023β’36 min
If you're an investor you would want to ensure you're making money not losing it, so how are investment returns calculated? Dev explains some different methods touching on: π what is a return ππΌ annualised returns ππ½ nominal returns ππΎ real return ππΏ purchasing power ππ» and ratios ratios ratios (e.g.: ROE, ROI, ROA) - demystifying these ratios π Please read our disclaimer + warnings before listening to this episode π Episode transcript: https://bit.ly/m3meptranscripts π‘ Join our fa...
Jan 03, 2023β’36 min
This episode is part 2 of the interview on locuming with Ryan from 1Medical locum agency ! In this chat Dev asks Ryan: π can a locum agency become an employee at the hospital they have locumed in before? ππΌ what happens with cancellations ππ½ do you think rates will stay as high as they have been? ππΏ what about overseas locum opportunities? ππΎ what about non doctor opportunities? π how do locum doctors structure their finances e.g. ABN, sole trader or Pty Ltd? ππ» what makes a good loc...
Dec 28, 2022β’50 min
Many of our listeners are doctors who have a ton of questions about locum work so Dev unpacks them with special guest Ryan Kevelighan who is the Director of 1Medical locum agency . Stay tuned for a bonus part 2 of this interview dropping tomorrow. Today's episode touches on: π what does it take to create and run a locum agency? ππΌ do agencies only deal with public hospitals, or deal with private hospitals as well? ππ½ what makes a hospital easier to deal with? ππΎ how can doctors and locum ...
Dec 27, 2022β’55 min
In this episode special guest Maz joins us on the show. Maz is a physiotherapist who left her public position to work in a private practice setting. We discuss physiotherapy as a profession and how Maz goes about her personal finances including some of the money wins she's had. The paradox of choice | Barry Schwartz (TED Talk): https://www.youtube.com/watch?v=VO6XEQIsCoM π Please read our disclaimer + warnings before listening to this episode π Episode transcript: https://bit.ly/m3meptranscrip...
Dec 20, 2022β’53 min
Continuing on from last week's Q&A, Dev answers more of your questions: ππΎ are medical financial advisers better than general advisers? ππΏ what are the new rules for family trusts? ππ» tips for locum work π transferring property to family e.g. kids ππΌ what is moldability and why you need it in your career ππ½ my portfolio has lost money, should I sell at a loss or wait for the market to bounce back? ππ» Maxxia wallet - is it worth it or not? Related listening π§ 046 what is a finan...
Dec 13, 2022β’30 min
Today's episode is packed with some great listener questions touching on: ππΎ how do ATO payment plans work? ππΏ dollar cost averaging vs lump sum investing ππ» pursuing FI to have freedom of career choice rather than retirement π career options outside of clinical work ππΌ single parent, divorced & practice owner, what should I do with my money? ππ½ tips for transitioning from Centrelink to salary ππ» private health insurance, do you need it? ππΎ money mindset depending on whether y...
Dec 06, 2022β’45 min
When it comes to your car insurance, do you know the pitfalls to avoid and how to negotiate a better deal? Dev unpacks it all touching on: π why car insurance is so important ππΌ CTP and how it differs by state ππ½ comprehensive car insurance ππΎ contaminated fuel - does insurance cover that too? ππΏ tips on reducing your premiums π specifically check exclusions - what are they? ππΌ what about learner drivers π Please read our disclaimer + warnings before listening to this episode π Epi...
Nov 29, 2022β’33 min
On today's episode Dev and Aussie Firebug continue their interview touching on: ππΎ AFB's investing strategy ππΏ achieving FIRE and the idea of retiring from work and losing purpose ππ» insurances - personal, house, car and health insurance π Aussie healthcare ππΌ and AFBβs FIRE $ goal π Please read our disclaimer + warnings before listening to this episode π‘ J oin our facebook group for healthcare professionals πΈ Quick links to our resources and $20 off The Glen James Spending Plan my m...
Nov 22, 2022β’1 hr 1 min
Today on the show Dev interviews blogger and podcaster Aussie Firebug talking all things money, mindset, life and of course his FIRE journey. In part 1 they touch on: ππΎ The Simpsons! What does that have to do with money? Quite a lot actually ππΏ how AFB's mindset and investing strategy has evolved and changed from when he first began his FIRE journey π factoring kids into FIRE π Please read our disclaimer + warnings before listening to this episode π‘ Join our facebook group for healthcare...
Nov 15, 2022β’50 min
You probably know about inflation but have you heard of stagflation? Dev explains the concept, touching on: π what is stagflation, inflation and deflation ππΌ causes of stagflation ππ½ what can be done in response to stagflation ππΎ how investors can protect themselves Related listening π§ 217 macro-economic vs micro-economic factors 202 bond yields, inflation + interest rates 133: is inflation a problem? 027 what is inflation and why is it important? 240 what is hedging? 080 asset allocatio...
Nov 08, 2022β’33 min
Dev chats with Harry who is an accountant about some of the small money wins he has had so far. They talk about saving, investing, and how the small things in the money world can make a big difference. π Please read our disclaimer + warnings before listening to this episode π‘ Join our facebook group for healthcare professionals πΈ Quick links - get $20 off The Glen James Spending Plan my millennial money medical is produced by SYMO interactive, home of my millennial money. Hosted on Acast. See...
Nov 01, 2022β’52 min
Today's episode is the last of the life stages series focusing on a few core things to consider in your 60s and beyond. Dev touches on: π asset allocation and decummulation strategies ππΌ private health insurance ππ½ superannuation - again! ππΎ revisiting will and estate planning ππΏ staying active, physically and mentally ππ» not neglecting growth Related listening π§ 080 asset allocation strategies and rebalancing 125 what is de-accumulation phase? π Please read our disclaimer + warning...
Oct 25, 2022β’54 min
Dev talks about some money moves to consider making in your 40s and 50s, including: ππΎ managing debt ππΏ reviewing your net worth to see if you are you on track ππ» preserving and protect your wealth π pumping that superannuation fund! ππΌ determining how much you need in retirement ππ½ work choices and children's needs Related listening π§ 238 divorce vs separation, property settlement, parenting arrangements 080 asset allocation strategies and rebalancing π Please read our disclaimer +...
Oct 18, 2022β’39 min
We're continuing our life stages series and this one's for anyone in their thirties. Dev recommends 6 things to focus on with your money, including: ππΎ getting personal insurance, private health insurance and investing in yourself ππΏ defining your goals and making a written financial / investing plan ππ» sorting your will and estate planning π avoiding lifestyle creep ππΌ maximising your income - 3 A's to focus on ππ½ buying productive assets Related episodes you may want to check out af...
Oct 11, 2022β’47 min
What are the best things you can do with your money in your 20s? Dev suggests 6 things to try and master! π Please read our disclaimer + warnings before listening to this episode π Episode transcript: https://bit.ly/m3meptranscripts π‘ Join our facebook group for healthcare professionals πΈ Quick links to our resources and $20 off The Glen James Spending Plan my millennial money medical is produced by SYMO interactive, home of my millennial money. Hosted on Acast. See acast.com/privacy for mor...
Oct 04, 2022β’41 min
Today we're chatting with Dr Tyron March. He's an ICU doctor based in Brisbane, a personal finance enthusiast and the author of Medical Money: A Practical Guide to Personal Finance and Investing for the Junior Doctor. Dev asks Tyron about: ππΏ his money story and what shaped his passion for personal finance π the ins and outs of the book including why it's for anyone, not just doctors ππΌ ICU training ππ½ the qualities of a good doctor ππΎ Tyron's side business, MedKit Scrubs (check them ou...
Sep 27, 2022β’1 hr 14 min
In today's episode Dev explains the purpose of an annuity and how someone might use it as part of their retirement strategy. He covers: π what is an annuity and how does it work ππΌ the different types ππ½ what happens if you die? ππΎ how is taxation handled within annuities ππΏ companies that offer them ππ» the good and the bad Related listening π§ episode 84: what is liquidity? episodes 231-233: a 3-part super series! Learn more about Altus Financial here: https://bit.ly/altusm3m π Plea...
Sep 20, 2022β’25 min
In this episode Dev explains the concept of hedging including: ππΌ what is a hedge? (no, not the green bushy stuff!) ππ½ how hedging strategies work ππΎ is hedging the same as an insurance policy? ππΏ what is a perfect hedge? ππ» the risk/return trade off π what is a derivative and 4 different types ππΌ types of hedging that the average investor can use ππ½ and the bottom line! Learn more about Altus Financial here: https://bit.ly/altusm3m π Please read our disclaimer + warnings before ...
Sep 13, 2022β’36 min
In this episode Dev breaks down the concept of due diligence including: ππ» what due diligence is π is it illegal if you don't do it? ππΌ10 steps that you can take to do due diligence ππ½ spotting red flags Take a listen to episodes 76-78 for more around P/E and P/B ratios. π Please read our disclaimer + warnings before listening to this episode π Episode transcript: https://bit.ly/m3meptranscripts π‘ Join our facebook group for healthcare professionals πΈ Quick links to our resources and ...
Sep 06, 2022β’39 min
Heads up, this episode touches on sensitive topics relating to divorce and separation. If this is upsetting you may want to skip this episode or take it slow and that's okay. On today's show Dev unpacks the concept of marriage, divorce and separation as well as: π how the divorce process works ππΌ some stats around divorce in Australia ππΎ what happens with children in the mix ππΏ parenting arrangements ππ½ what's a property settlement? π what about superannuation and how it's split? ππ» ...
Aug 30, 2022β’30 min
