Money concepts made simple for busy professionals, hosted by Melbourne-based doctor Dev Raga. New episodes every Wednesday. Formerly named my millennial money professional Hosted on Acast. See acast.com/privacy for more information.
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415 Q&A: overtime, burn out, property v shares, productive assets and more
38:47
38:47
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38:47
In todayβs episode Dev answers some of your questions, touching on: ππΎ overtime and sustainability? ππΏ ways to pay back credit cards? ππ» increase earning potential? π taxation for RNs, ππΌ high income earns and trusts? ππ½ property vs shares Related episodes π§ π 348 income per unit time vs income per unit effort 094 income and deductions! 099 little β¦
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414 life, TPD, trauma & income insurance (the basics, self-insuring, using an adviser or DIY + more) part 2
41:21
41:21
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41:21
In todayβs episode Dev continues his interview with Phil Thompson - an insurance expert, going in-depth on: ππ½ income protection and life insurance ππΎ trauma insurance and TPD ππΏ claim rejections We hate email spam so we donβt create it! Sign up to our newsletter to get only the valuable money, careers and property info you need. To get help, and tβ¦
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413 life, TPD, trauma & income insurance (the basics, self-insuring, using an adviser or DIY + more) part 1
47:02
47:02
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47:02
In todayβs episode Dev interviews Phil Thompson - an insurance expert, touching on: ππΎ the basics of insurance ππΏ difference of a financial advisor and insurance advisor ππ» insurance via TV ads π the concept of self-insurance ππΌ super vs non-super insurance ππ½ income protection and life insurance ππΎ trauma insurance and TPD ππΏ claim rejections httpβ¦
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412 will and estate planning (Q&A with a lawyer) part 2
27:43
27:43
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27:43
In todayβs episode, Dev continues his interview with special guest Marlee Viero who is a wills lawyer from Nest Legal. In the 2nd part of this chat Dev and Marlee touch on: ππΎ the role of the executor; administering the estate ππΏ probate vs grants ππ» the role of the court π invalidity of the will ππΌ who can challenge a will ππ½ digital assets Find oβ¦
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411 will and estate planning (Q&A with a lawyer) part 1
56:57
56:57
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56:57
In todayβs episode Dev interviews special guest Marlee Viero who is a lawyer specialising in wills and estate planning. They chat about: ππΎ what happens when you don't have a will? ππΏ do it yourself will kits ππ» what is an executor? π what is a beneficiary? ππΌ what is a guardian? ππ½ what about kids under 18? ππΎ distribution of assets, special itemsβ¦
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410 an interview with AG (alternative investments, day trading + more)
59:51
59:51
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59:51
In todayβs episode Dev interviews special guest AG who day trades, touching on AG's experience with crypto and his personal investing philosophy. They chat about: ππΎ what is cryptocurrency and how do you make money from it? ππΏ costs of trading ππ» net worth and income π what is day trading and how one can compete with with "big people" ππΌ is time inβ¦
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In todayβs episode Dev explains money mistakes doctors make, touching on: ππΎ not prioritizing relationships, ππΏ not doing a will and estate plan, ππ» training for far too long, waiting to become a consultant π poor soft skills, ππΌ complicating their financial life Related episodes π§ 208 what is a prenuptial or binding financial agreement? We hate emβ¦
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In todayβs episode Dev explains money mistakes doctors make, touching on: ππΎ not having a budget or financial plans ππΏ debt ππ» lifestyle creep π under insuring themselves Related episodes π§ 117 what is automation? We hate email spam so we donβt create it! Sign up to our newsletter to get only the valuable money, careers and property info you need. β¦
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In todayβs episode Dev explains buying commercial property, touching on: ππΏ types of commercial property ππ» things to look for when buying a commercial real estate π the pros & cons We hate email spam so we donβt create it! Sign up to our newsletter to get only the valuable money, careers and property info you need. To get help, and to check out ouβ¦
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In todayβs episode Dev explains the concept of a share buy back, touching on: ππΏ shares outstanding ππ» why a company buys their own shares π how a company would buy back their own shares ππΌ earnings per share ππ½ price to earnings ratio ππΎ advantages of share buy backs ππΏ buy backs vs share dividends ππ» share buy backs vs arbitrage π his personal viβ¦
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In todayβs episode Dev explains debt recycling, touching on: ππΎ debt ππΏ deductible vs non-deductible debt ππ» debt recycling π tax savings ππΌ advantages of debt recycling ππ½ disadvantages of debt recycling ππΎ final things to consider We hate email spam so we donβt create it! Sign up to our newsletter to get only the valuable money, careers and propeβ¦
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404 an interview with Dr VJ (Renal Fellow)
1:03:16
1:03:16
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1:03:16
In todayβs episode Dev interviews renal fellow, Dr. VJ touching on: ππΎ his income ππΏ his savings rate ππ» locuming π his view on debt ππΌ personal insurance ππ½ kids and public vs private school ππΎ retirement strategy ππΏ and money wins We hate email spam so we donβt create it! Sign up to our newsletter to get only the valuable money, careers and propeβ¦
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403 redundancy insurance, sole traders & tax, income protection inside vs outside super + more
24:13
24:13
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24:13
In this episode, Dev answers your questions: ππΎ how do you balance ethical practice, making enough money, and pursuing your own passions? ππΏ what is redundancy insurance? ππ» sole trader tips for managing money owed to the ATO π income protection inside super vs outside super We hate email spam so we donβt create it! Sign up to our newsletter to getβ¦
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402 an interview with Balaji Gopal from Vanguard Australia
58:29
58:29
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58:29
In this episode Dev has a chat with Balaji Gopal from the Head of Distribution & Financial Adviser Services at Vanguard Australia. Dev and Balaji discuss: ππΎ the Vanguard Personal Investor platform ππΏ the cost of Australian funds vs US funds ππ» is Vanguard chess-sponsored and if not, why? π does it cost money to hold money in the cash account? ππΌ tβ¦
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Welcome to a new season, and a new name! Long time listeners might find it familiar...π In this episode Dev unpacks the concept of downside risk, touching on: ππΎ what is downside risk and the essential components ππΏ how to measure it ππ» how to protect yourself against it π and the pros and cons of risk protection Related links: A good overview of dβ¦
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In todays episode replay, Dev shares 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 lisβ¦
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In today's top episode replay Dev shares 6 money milestones for those in their 30s, 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 β¦
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Happy holidays, we're bringing back a listener favourite! In today's episode replay Dev suggests 6 money tips to master in your 20s. We hate email spam so we donβt create it! Sign up to our newsletter to get only the valuable money, careers and property info you need. To get help, and to check out our online courses, resources and downloads (+ our β¦
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In this episode Dev explains the concept of right sizing, including: ππΎ methods of rightsizing ππΏ the steps involved ππ» the pros and cons π Episode transcripts We hate email spam so we donβt create it! Sign up to our newsletter to get only the valuable money, careers and property info you need. To get help, and to check out our online courses, resoβ¦
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In this episode Dev explains the concept of downsizing as it relates to businesses and companies, touching on: ππ» examples π reasons for downsizing ππΌ types of mergers and acquisition ππ½ pros & cons ππΎ and downsizing strategies π Episode transcripts We hate email spam so we donβt create it! Sign up to our newsletter to get only the valuable money, β¦
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349 an interview with RACGP President Dr Nicole Higgins (cost of health care, workforce challenges + more)
39:55
39:55
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39:55
In this episode Dev chats with Dr Nicole Higgins, President of the Royal Australian College of General Practitioners (RACGP). They touch on: ππΎ a bit about Dr Higgins and what the RACGP does ππ» general practice as a speciality π workforce challenges ππΌ rebates and bulk billing ππΏ the cost of health care ππ½ capitation, and more! We hate email spam sβ¦
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348 income per unit time vs income per unit effort
19:19
19:19
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19:19
In todayβs episode Dev explains his concept of income per unit time and income per unit effort, touching on: ππΎ what is income per unit time ππΏ why is IPUT (income per unit time) important ππ» businesses vs revenue per unit sales π what is income per unit effort ππΌ pros and cons of both concepts π Episode transcripts We hate email spam so we donβt cβ¦
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In todayβs episode Dev discusses credit ratings and credit agencies, covering the following topics: ππΎ what is a rating? ππΏ the big 3 ππ» ratings agencies and history π Fitch vs Moody vs SP Global ππΌ the role of credit rating agencies ππ½ benefits vs problems ππΎ what happened in 2008 vs rating agencies ππΏ factors affecting credit ratings π Episode trβ¦
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In today's episode we're going over the basics of bonds! Dev unpacks: ππΌ what is a bond? ππ½ terminology ππΎ bond ratings and callability ππΏ risks ππ» corporate bonds π bond ETFs ππΌ debentures vs bonds ππ½ fixed vs floating rate bonds Related episodes π§ 202 bond yields, inflation + interest rates 053 what are bonds? Are they good? 214 what is the bid-aβ¦
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345 an interview with Dr Tony Chen part 2 (travel philosophy, tips & hacks)
59:16
59:16
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59:16
In this episode we're continuing our conversation with Dr Tony Chen who shares his unique travel philosophy including: ππΎ why he moves house every year ππΏ his hacks for saving money on flights and hotels ππ» resources to learn more about point hacking π his best hotel experience ππΌ and thoughts on the age old debate of private vs public education Taβ¦
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344 an interview with Dr Tony Chen part 1 (radiology, childhood, why he doesn't invest in super + more)
1:00:22
1:00:22
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1:00:22
In this 2-part interview Dev chats with Dr Tony Chen who some of you may know from the Frequent Flying Doctors Facebook group! In this episode Tony shares about: ππΎ his journey to becoming a radiologist ππ» radiology as a career, private vs public & income ππΌ childhood experience of growing up as a first generation immigrant π his investing philosopβ¦
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In today's episode Dev explains the Dunning-Kruger effect and how it can affect your investing or career, plus how you can avoid it. π Episode transcripts We hate email spam so we donβt create it! Sign up to our newsletter to get only the valuable money, careers and property info you need. To get help, and to check out our online courses, resourcesβ¦
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342 teaching kids about money, defined benefit scheme & what is income protection
30:14
30:14
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30:14
In today's Q&A Dev discusses: ππ» how to teach money skills to your kids π what is a defined benefit scheme within super ππΎ and what is income protection insurance π Episode transcripts We hate email spam so we donβt create it! Sign up to our newsletter to get only the valuable money, careers and property info you need. To get help, and to check outβ¦
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Is it a good idea to consolidate your debt? Dev explains how debt consolidation works, the pros & cons to consider and how it differs from refinancing. Related episodes π§ 067 what is behavioural finance? 213 debt repayment strategies π Episode transcripts We hate email spam so we donβt create it! Sign up to our newsletter to get only the valuable mβ¦
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In today's episode Dev unpacks the three bucket retirement strategy, touching on: ππΎ emergency savings and liquid assets ππΏ medium term holdings ππ» longer term holdings with a bit more risk π 2 key factors to watch for ππΌ rebalance rules ππ½ and the pros & cons π Episode transcripts We hate email spam so we donβt create it! Sign up to our newsletterβ¦
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On today's show Dev explains the ten rules every investor should keep in mind: ππΎ reversion to the mean ππΏ the markets always overcorrect ππ» excesses are a red flag! π© π bear markets have 3 stages ππΌ invest regularly ππ½ keep your emotions in check ππΎ time in the market, not timing the market ππΏ risk vs volatility ππ» experts are usually wrong π diveβ¦
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The power of compounding also applies to investment fees so itβs important to know what youβre paying when you invest! In this episode Dev touches on: ππΎ why is investing not free ππΏ ETFs vs managed funds ππ» basic fees to pay attention to π what is a broker and brokerage ππΌ 3 take home points ππ½ the productivity commission statement on super fees πβ¦
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Let's take it back to basics! In this episode Dev unpacks: ππ» should you save or invest 'pay yourself money'? π the pros & cons of saving ππ½ the pros & cons of investing ππΌ how to calculate your savings rate ππ½ savings stats in Australia ππΏ investing concepts We hate email spam so we donβt create it! Sign up to our newsletter to get only the valuabβ¦
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In the second part of this interview Dev and Dr Dean chat about: ππΎ how Dean invests ππΏ his thoughts on debt ππ» he and his partner's FI number π public vs private education ππΌ his personal protection plan (insurances, wills and estate planning) ππ½ and money wins We hate email spam so we donβt create it! Sign up to our newsletter to get only the valβ¦
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In part 1 of this 2-part interview, medical doctor Dr Dean shares some of his career journey in medicine, savings habits and tips for productivity at work. In part 2 Dev and Dean get into investing, debt and more ways that Dean and his wife manage their money. We hate email spam so we donβt create it! Sign up to our newsletter to get only the valuaβ¦
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335 salary packaging & HECS, rising health care costs, elective egg freezing + more
30:14
30:14
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30:14
In this Q&A episode Dev touches on: ππΎ the private health industry post-covid ππΏ vet careers and earning less than what people may think ππ» salary packaging and HECS/HELP π the process/cost of elective egg freezing ππ½ and how much of your income should you aim to save? Related listening π§ 309 private health insurance 105 what is salary packaging? 1β¦
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334 investment bonds, investing via a trust, tips for graduates + more
34:52
34:52
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34:52
In today's Q&A Dev discusses: π paying off debt fully vs creating an emergency fund and paying debt off gradually ππΌ investment bonds π early career fellow - the pros and cons of buying a $2-3m home ππ½ saving 100% towards a home vs 50/50 invest & save ππΎ investing via a trust ππΏ first graduate job - tips for building a good financial foundation ππ» β¦
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333 an interview with Owen Rask part 2 (value investing, index fund bubble + more)
41:41
41:41
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41:41
In today's episode we're continuing part 2 our chat with Owen Rask from the Rask Group talking about: ππΎ value investing and how to value a company ππΏ the index fund bubble - is it all just hype? ππ» investing as a high net worth individual π Owen's top money win tip Listen to part 1 here! We hate email spam so we donβt create it! Sign up to our newβ¦
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In today's episode we're chatting with Owen Rask, cohost of the Australian Finance Podcast and founder of the Rask Group. Owen shares about his career prior to Rask and what motivated him to start the business, his investment philosophy, thoughts on the home ownership crisis and more. We hate email spam so we donβt create it! Sign up to our newsletβ¦
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In today's episode, Dev chats with Kate Campbell from the Australian Finance Podcast about: ππ» her story ππΎ FIRE ππΏ her career π superannuation ππΌ money wins ππ½ and more! We hate email spam so we donβt create it! Sign up to our newsletter to get only the valuable money, careers and property info you need. To get help, and to check out our online coβ¦
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In today's episode we're chatting about how the concept of game theory applies to investing! Dev touches on: ππ» what is game theory and how does it work? ππΎ nash equilibrium explained ππΏ various games/circumstances ππ½ common uses of game theory in economics & investing Related listening π§ 088 what is utility theory? π Episode transcripts We hate emβ¦
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In today's money wins episode Dev chats with Dr Ted, a junior doctor from Victoria. Ted and Dev discuss: ππΎ tips for junior doctors & interns ππ» career pathways in medicine ππΎ debt ππΏ investing ππ» money tips π and more! π Please read our disclaimer + warnings before listening to this episode π Episode transcripts π‘ Join the mmm facebook group πΈ Quiβ¦
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In today's episode we're continuing with part 2 of the interview with Captain FI chatting about: ππΎ his investment strategy and income streams ππΏ net worth and how he calculated his FI number ππ½ his thoughts on "retiring early" π + top tips from his personal finance journey π Please read our disclaimer + warnings before listening to this episode π β¦
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In today's episode, retired pilot Captain FI joins us for a special interview about his journey to reaching FIRE at the age of 30. In part 1 Captain FI shares about: ππΏ his childhood and the lessons he learned about money ππ» his training and costs to become a pilot π airline perks ππ½ are frequent flyer programs worth it? ππΎ achieving an 80% savingsβ¦
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In today's episode Dev explains how we experience accumulative advantage in everyday life and investing, also touching on the Matthew Effect and the concept of "winner takes all". π Episode transcripts We hate email spam so we donβt create it! Sign up to our newsletter to get only the valuable money, careers and property info you need. To get help,β¦
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Let's explore the fundamentals of what an index fund is, how they work and what to consider when choosing one. In this episode we cover: ππΎ what is an index fund? ππΏ what does the data say about active vs passive investing? ππ» your investment thesis ππΌ are you a broad market or narrow market investor? ππ½ local vs international π fund selection ππ» mβ¦
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324 EVs: 200,000km Tesla Model 3 update
1:11:52
1:11:52
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It's that time of year again, the annual EV update. Today's episode gets into the ins and outs of owning a Tesla Model 3 touching on: ππΎ purchase price ππΏ cost of electricity vs fuel π wear and tear ππ» autopilot ππ½ tyre change & servicing costs ππΏ the annoying & brilliant bits of the car π EV road tax ππΌ charging infrastructure ππ½ thoughts on goingβ¦
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Today's episode is part 2 of our chat with Jason and Matt from MissionMed about getting into medical school. Make sure to listen to last week's episode to catch the first part if you missed it! In this episode we talk about: ππΎ do Jason and Matt invest? π are there any scholarships for med school? ππΌ HECS/ HELP debt ππ½ private school vs public schoβ¦
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Due to plenty of interest in this topic we are taking a break from money to chat about getting into med school in this two-part discussion with Jason and Matthew from MissionMed. In this episode we touch on: ππ» the entrance process for undergrad and postgrad pathways π good skills to have and develop ππΌ what are the UCAT and UMAT and how do they woβ¦
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If you've heard the term intrinsic value mentioned by investors like Warren Buffet but not known what it meant, today we're breaking down the concept. In this episode we cover: ππ» quantitative analysis π qualitative analysis ππΌ discounted cash flow analysis ππ½ weighted avg cost of capital (WACC) ππΎ a worked example of DCF analysis ππΏ and of course β¦
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