Welcome to the Investing For Doctors podcast. Here we talk about personal finances, investing, wealth creation, accounting, and personal development that will a...
How Doctors Can Get 95% Home Loans WITHOUT Mortgage Insurance | Ep. 10
Join 26,000+ doctors and dentists in the 'Investing for Doctors' Facebook group: https://facebook.com/groups/investingfordoctors -----In this episode, join me, Dr Bi Mian, together with Elouise Dooley and Alissa Childs, mortgage brokers and directors of Two Birds One Loan, a team that goes beyond traditional mortgage broking to help clients achieve their goals through personalised financial solutions. We talk about how to decide between fixed and variable rates in today’s volatile market, the major differences between offset and redraw accounts, and why understanding non-bank lenders can open doors to unique borrowing opportunities.We also discuss how doctors can secure loans with just 3 months of ABN history, the game-changing strategy of siloing property investments using trusts or SPVs, and why reviewing your loan every six months could save you thousands in interest payments.If you want to learn how to make smarter mortgage decisions and take advantage of financial privileges tailored for healthcare professionals, then make sure to listen to this episode!-----TIME STAMPS:00:00 - Intro01:56 - Loan with an Offset Account05:05 - Difference between a Bank Lender and a Non-bank Lender07:25 - Bank Account with a Redraw Facility10:30 - How a Fixed Loan Structured15:17 - Assessing Income19:00 - Company vs. Sole Trader24:57 - Investment Income36:12 - Engagement Process with a Broker41:52 - Conclusion----- SHOW NOTES LINKShttps://ifdgroup.com.au/ https://doctorbi.com.au/ https://au.linkedin.com/in/mian-bihttps://www.twobirdsoneloan.com.au/ https://www.linkedin.com/in/elouisehaynes/ https://au.linkedin.com/in/alissa-childs-8816777a ----- LISTEN TO THE PODCAST Spotify: https://open.spotify.com/show/07DS5AxlbgmkuvP6zQGgtN Apple Podcasts: https://podcasts.apple.com/au/podcast/investing-for-doctors-podcast/id1775535608 Amazon Music: https://music.amazon.com/podcasts/b9de46bc-e29d-4402-9e9e-959a3a5dc8da/investing-for-doctors-podcast ----- FIND US HERE Website: https://ifdgroup.com.au/ Facebook Group: https://www.facebook.com/groups/investingfordoctors Facebook Page: https://www.facebook.com/investingfordoctors ----- DISCLAIMER The information provided in this podcast is for general purposes only and should not be considered personal advice. Always consult with qualified professionals or experts in the relevant field for personalised advice tailored to your specific situation.
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45:26
The 3 Financial Goals Every Young Doctor Needs to Set Now (Don't Start Your Career Without Them) | Ep. 09
Join 26,000+ doctors and dentists in the 'Investing for Doctors' Facebook group: https://facebook.com/groups/investingfordoctors -----In this episode, join me, Dr Bi Mian, and our returning guest, Jessica Brady, a maverick financial advisor who, after selling her award-winning practice, created accessible online money programs to help the 80% of Australians who couldn't access financial advice.Jessica talks about why "conscious cash flow planning" beats traditional budgeting, how to automate your banking system for effortless wealth building, and the psychology behind setting powerful short-, medium-, and long-term financial goals.She also discusses the often-overlooked insurance considerations for medical professionals, the smart way to approach your first property purchase as a doctor, and why living at home can create dangerous financial blind spots.If you want to learn how to build sustainable wealth while avoiding the money mistakes that trap many young doctors, then make sure to listen to this episode!-----TIME STAMPS:----- SHOW NOTES LINKShttps://ifdgroup.com.au/ https://doctorbi.com.au/ https://au.linkedin.com/in/mian-bihttps://jessicabrady.com.au/ https://www.instagram.com/jessbrady_financialadvice/ https://au.linkedin.com/in/jessica-brady-21165812 https://m.facebook.com/61552351622335/ https://podcasts.apple.com/au/podcast/financially-fierce/id1727968994 Jessica Brady (also known as Jessica Gerken) is an authorised representative of Paragem Pty Ltd. All comments made in the podcast are general in nature and do not take into account your objectives, financial situation or needs. Authorised Representative No. 001259972 | AFSL | 297276 ABN | 16 108 571 875 | Corporate Authorised Representative No. 1305567.----- LISTEN TO THE PODCAST Spotify: https://open.spotify.com/show/07DS5AxlbgmkuvP6zQGgtN Apple Podcasts: https://podcasts.apple.com/au/podcast/investing-for-doctors-podcast/id1775535608 Amazon Music: https://music.amazon.com/podcasts/b9de46bc-e29d-4402-9e9e-959a3a5dc8da/investing-for-doctors-podcast ----- FIND US HERE Website: https://ifdgroup.com.au/ Facebook Group: https://www.facebook.com/groups/investingfordoctors Facebook Page: https://www.facebook.com/investingfordoctors -----TIME STAMPS0:00 - Introduction2:39 - Starting Off Financially as a Doctor Intern6:36 - Juggling Bills & Debts9:32 - Setting up a “Conscious Cash Flow”19:55 - False Sense of Reality from Bad Spending Habits21:20 - Asset Allocation23:07 - “Sleep at Night” Plan25:16 - The First Home Super Saver Scheme30:00 - Nuances of Purchasing a Property: What to Look For38:20 - How to Set Yourself up for the Future46:15 - Conclusion-----DISCLAIMER The information provided in this podcast is for general purposes only and should not be considered personal advice. Always consult with qualified professionals or experts in the relevant field for personalised advice tailored to your specific situation.
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47:11
How To Get the Most Out of Your Superannuation Fund as an Australian Doctor | Ep. 08
Join 27,000+ doctors and dentists in the 'Investing for Doctors' Facebook group: https://facebook.com/groups/investingfordoctors -----In this episode, join me, Dr Bi Mian and Munzurul Khan, Chairman at KHI Partners, as we talk about Australia's superannuation system, its origins, and how doctors can optimise their retirement savings in today's modern landscape.We discuss how Paul Keating's visionary math from the 1980s shaped Australia's retirement system, why the original 3% super contribution has grown to today's 12%, and the strategic reasoning behind making super tax-privileged at 15%.We also talk about the clever ways to navigate contribution caps and Division 293 tax for high-income earners, why compound interest in super is a double-edged sword that demands early attention, and the costly mistake of ignoring default super fund settings that could be silently eroding your wealth.If you want to make the most of the tax benefits and investment opportunities within superannuation, then make sure to listen to this episode! -----TIME STAMPS:00:00 - Intro00:47 - Superannuation Fund08:36 - Changed Regulations on Super / Concessional Contribution11:38 - Limit of How Much Money You Can Put In14:53 - What Happens If You Go Over $30,000?20:38 - Superannuation Is an Employee Benefit28:06 - Picking the Right Fund29:49 - Always Check Your Payslip34:03 - Outro-----SHOW NOTES LINKShttps://ifdgroup.com.au/ https://doctorbi.com.au/ https://au.linkedin.com/in/mian-bihttps://khipartners.com.au/ https://au.linkedin.com/in/munzurul-khan-7ba6a318 -----LISTEN TO THE PODCASTSpotify: https://open.spotify.com/show/07DS5AxlbgmkuvP6zQGgtN Apple Podcasts: https://podcasts.apple.com/au/podcast/investing-for-doctors-podcast/id1775535608 Amazon Music: https://music.amazon.com/podcasts/b9de46bc-e29d-4402-9e9e-959a3a5dc8da/investing-for-doctors-podcast -----FIND US HEREWebsite: https://ifdgroup.com.au/ Facebook Group: https://www.facebook.com/groups/investingfordoctors Facebook Page: https://www.facebook.com/investingfordoctors -----DISCLAIMERThe information provided in this podcast is for general purposes only and should not be considered personal advice. Always consult with qualified professionals or experts in the relevant field for personalised advice tailored to your specific situation.
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35:31
Are Doctors Getting Ripped Off By Financial Advisors? Here's the TRUTH | Ep. 07
Join 26,000+ doctors and dentists in the 'Investing for Doctors' Facebook group: https://facebook.com/groups/investingfordoctors -----In this episode, join me, Dr Bi Mian, and Roger Wheelahan, a financial advisor with over 25 years of experience helping individuals and businesses with succession planning, risk management, and retirement strategies.Roger shares how doctors can protect their medical practices with strategic buy-sell agreements, why risk insurance is the forgotten foundation of financial planning, and the impact of the Royal Commission on financial advice quality and accessibility in Australia.He also talks about the truth about superannuation as a tax structure rather than an investment vehicle, the differences between financial advisors and consultants, and the innovative ways to maximise retirement benefits while potentially qualifying for pension cards.If you want to understand how to properly structure your finances and create tax-efficient wealth strategies that work specifically for medical professionals, then make sure to listen to this episode!-----SHOW NOTES LINKShttps://ifdgroup.com.au/ https://doctorbi.com.au/ https://au.linkedin.com/in/mian-biRoger Wheelahan’s Links https://www.linkedin.com/in/roger-wheelahan-8ba53149/https://smartstartfs.com.au/ -----LISTEN TO THE PODCASTSpotify: https://open.spotify.com/show/07DS5AxlbgmkuvP6zQGgtN Apple Podcasts: https://podcasts.apple.com/au/podcast/investing-for-doctors-podcast/id1775535608 Amazon Music: https://music.amazon.com/podcasts/b9de46bc-e29d-4402-9e9e-959a3a5dc8da/investing-for-doctors-podcast -----FIND US HEREWebsite: https://ifdgroup.com.au/ Facebook Group: https://www.facebook.com/groups/investingfordoctors Facebook Page: https://www.facebook.com/investingfordoctors -----TIME STAMPS00:00 - INTRO00:43 - Roger's Background05:55 - The Royal Commission Being Like "The Wild West"08:10 - The Catalyst For the Royal Commission10:31 - The Transformation of the Financial Planning Industry12:12 - "Principal Agency Dilemma"17:36 - The Experience Pathway22:09 - FINANCIAL ADVISOR vs FINANCIAL PLANNER22:52 - AFSL (AUSTRALIAN FINANCIAL SERVICES LICENSE)24:46 - Financial Advisor: Who Are They Really?29:01 - Risk Insurance34:15 - Retirement Planning38:25 - Barriers of Entry into The Financial Planning Space40:38 - "Poor Financial Advice Can Make a Huge Difference"41:52 - Financial Advisor Costs46:34 - Service Percentage Fee48:31 - Conclusion-----DISCLAIMERThe information provided in this podcast is for general purposes only and should not be considered personal advice. Always consult with qualified professionals or experts in the relevant field for personalised advice tai
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51:37
How Doctors Can Get 95% Home Loans WITHOUT Mortgage Insurance | Ep. 06
Join 26,000+ doctors and dentists in the 'Investing for Doctors' Facebook group: https://facebook.com/groups/investingfordoctors -----In this episode, join me, Dr Bi Mian, together with Elouise Dooley and Alissa Childs, mortgage brokers and directors of Two Birds One Loan, a team that goes beyond traditional mortgage broking to help clients achieve their goals through personalised financial solutions. We talk about why the cheapest interest rate isn't always the best option when choosing a lender, how medical professionals can access exclusive lending benefits with up to 95% LVR without paying mortgage insurance, and the unexpected truth about what makes a "vanilla" loan application.We also discuss the clever strategy of using parental guarantees to potentially borrow up to 105% of a property's value, why cross-collateralisation could help you secure better interest rates, and the hidden traps of family gifts in property purchases that every borrower needs to know.If you want to learn how to maximise your borrowing potential and access special financial privileges available to healthcare professionals, then make sure to listen to this episode!-----TIME STAMPS:0:00 - Introduction1:18 - Elouise & Alissa’s Background03:14 - Overview of the Home Loan Market in Australia03:38 - Choosing the Right Loan06:28 - The Idea of a ‘Vanilla Loan’08:32 - Having Access to a Wide Range of Products and Lenders09:33 - Discussing Home Loans: How Much to Borrow and What Type of Property12:50 - Understanding the Key Terms in Home Financing14:38 - Discount Ranges18:29 - What Is LMI?28:15 - Explaining Serviceability and Its Meaning in Financial Terms31:24 - Buffers Earned from Investment Properties36:40 - Credit Card Assessment, Lending Cost and Interest44:11 - Conclusion-----SHOW NOTES LINKShttps://ifdgroup.com.au/ https://doctorbi.com.au/ https://au.linkedin.com/in/mian-bihttps://www.twobirdsoneloan.com.au/ https://www.linkedin.com/in/elouisehaynes/ https://au.linkedin.com/in/alissa-childs-8816777a -----LISTEN TO THE PODCASTSpotify: https://open.spotify.com/show/07DS5AxlbgmkuvP6zQGgtN Apple Podcasts: https://podcasts.apple.com/au/podcast/investing-for-doctors-podcast/id1775535608 Amazon Music: https://music.amazon.com/podcasts/b9de46bc-e29d-4402-9e9e-959a3a5dc8da/investing-for-doctors-podcast -----FIND US HEREWebsite: https://ifdgroup.com.au/ Facebook Group: https://www.facebook.com/groups/investingfordoctors Facebook Page: https://www.facebook.com/investingfordoctors -----DISCLAIMERThe information provided in this podcast is for general purposes only and should not be considered p
Welcome to the Investing For Doctors podcast. Here we talk about personal finances, investing, wealth creation, accounting, and personal development that will aid you in your life journey as a doctor.Please note that the information provided in this podcast is for educational and entertainment purposes only. The content should not be considered as financial advice and your personal situations have not been taken into account. Before making any financial decisions, we strongly recommend consulting with the relevant professional(s).
Australia