Passive Income Doctor

In this episode, we talk about what happens once you've found the property you wish to put an offer on. What steps need to happen to ensure a smooth settlement process. Topics covered include: auctions, building and pest inspection, cooling off period, gazumping. And then checklist for pre-settlement inspection (what to look out for). And finally, some differences between NSW, QLD, WA. Resour...

How much do doctors in Australia make? We breakdown the earnings, from 1st year junior doctor, all the way to consultant.  I also compare earnings by states- NSW, Queensland, Victoria, South Australia, Canberra, Australian Capital Territory etc. WE discuss the range of earnings of different specialties. GPs, surgeons, anaesthetists just to name a few. Finally we explore the pathways for IMG doctor...

This was an insightful interview with Michael Hughes, founder of mortgage broking and financial advice firm AHK. We discuss mistakes doctors and other professionals make with finance and property investing. He shares his experience with doctors obtaining 95% and even 100% loans without LMI. Some top tips from the episode 1. Think long term in regards to property strategy, including where owner occ...

Today, we interview Dr Kelvin, a Sydney-based GP. We discuss his journey into medicine, what it's like working as a General Practitioner in Australia. We also talk about his money backstory. Then we discuss his journey into property investing, and strategy in growing a substantial property portfolio. He shares his tips for investing, as well as tips for medical students and junior doctors in...

In this episode, we give an overview of Australia's health system, including Medicare, public vs private hospitals.  Also we talk about pros and cons of private health insurance, and finally explore Medicare levy and Medicare Levy Surcharge (MLS). Other resources: The Australian health system | Australian Government Department of Health and Aged Care What is the Medicare Levy Surcharge? - H&a...

UPDATE: interesting to look back and see what actually happened to property prices- so much negativity at the time in the media. 10 consecutive interest rate rises, the most aggressive tightening since 1994. What's in store for the rest of 2023? And how do you know when it's the bottom of the property market? Resources/links: Australia’s Property Markets Forecast to Rebound in 2023 | Sho...

What actually makes property prices go up? Is it as simple as Interest rates? In this episode, we explore 9 factors driving house prices in Australia. Inflation, demand and supply, availability of credit are some crucial factors affecting the property market, as well as rental legislation. Other resources: Rising interest rates will over time reduce demand & send house prices lower: RBA (marke...

Why is Australian real estate so attractive for many? What are the pros and cons for doctors looking at property investing? We talk about unique advantage for doctors in regards to LMI. We also explore Land to Asset ratio, and illustrate this with a case study. We also talk about the 3 steps how beginners can get started in property investing. Other resources: Why higher Land-to-Asset Ratio means...

Today we discuss the importance of setting financial goals. We also delve into the world of salary packaging, and how it can help reduce your tax. And in today's mindset minute, we discuss about designing your life plan. Other resources: Salary packaging - HealthShare NSW How to create SMART financial goals | Westpac Tax for doctors Why Doctors don't get Wealthy Music Credit: Bass Nation...

Doctors are well-educated, so naturally should be excellent when it comes to managing their finances right. Right? Unfortunately this is not always the case. I share some tips about money management, Why I DON'T budget, and what I do instead. And the hidden dangers of credit cards and reward points. Finally, I share my Mindset Minute of the day.   Resources/links: Comparison Jack and Jill- 9...

What side hustles can doctors do? In this episode, we talk about locuming, consulting, teaching,  alternate roles, medicolegal writing, and so much more.  What are the pros and cons of locum life? Who is locum life not suited for? I then discuss some tips for locum doctors, before sharing Mindset Minute of the day. Other resources: Medrecruit | The pros and cons of working as a locum doctor (medwo...

Story time! Today I’m sharing my first step into property investing, as a 23 year old junior doctor. What influenced my decision-making, what resources I found helpful, the highs and lows or my first purchase. I also share what I learnt from my mistakes. Resources/links: Who is eligible for no LMI- https://www.ratecity.com.au/home-loans/mortgage-news/qualify-lmi-waiver-you-doctor-accountan Buying...

Who pays the most tax? Which specialty is the highest earning doctor in Australia? We talk about ways high income earners can legally minimise their tax. We cover tax deductions, property and a lot more. Listen to the end, where I share my mindset shift around tax. Resources/links: Individual income tax rates | Australian Taxation Office (ato.gov.au) Tax Deductions Every Doctor Should be Claiming...

What are common financial mistakes for junior doctors  and new grad nurses? In today’s episode, I discuss 7 tips I wished I knew before I started my healthcare career. What to check on payslips, money saving ideas, salary packaging, which insurances to get, and much more. Also in today's mindset minute, I share some personal struggles. Just a reminder, this podcast is for entertainment purpos...

What is the link between burnout and finances? Why do high income professionals often end up with poor financial outcomes? In this episode, we also talk about the 5 aspects of financial health, and tips to manage your finances better. Just a reminder, this podcast if for entertainment purposes, nothing here is financial advice. Please speak to your trusted professional advisers. Views expressed by...

Is the FIRE movement dead? Should doctors and healthcare workers even aim to retire early anyway? We talk about LEAN FIRE and FAT FIRE. At the end I share my personal thoughts on FIRE. Just a reminder, this podcast is for entertainment purposes, nothing here is financial advice. Please speak to your trusted professional advisers. Views expressed by podcast participants are solely their own. Resour...

What is passive income, why do healthcare workers need it? Join me on my mission to improve the financial health of doctors and healthcare workers. As we spend so much time caring for others, often we don’t take the time to look after our own physical, mental, and financial health. By attaining passive income streams, we can achieve financial freedom and have more choice- choice on the type of wor...