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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421 drawing down on your portfolio in retirement (Q&A with Vince Scully) part 2
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In todayโs episode Dev interviews Vince Scully, touching on: ๐๐พ questions about portfolio drawdown? ๐๐ฟ preparing for retirement ๐๐ป wealth protection? ๐ case scenarios We hate email spam so we donโt 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 courseโฆ
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420 what a financial adviser does and the cost + tools for portfolio building (Q&A with Vince Scully) part 1
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In todayโs episode Dev interviews Vince Scully, touching on: ๐๐พ what is Life Sherpa ๐๐ฟ why is financial advice expensive in Australia? ๐๐ป why are people skeptical about financial advisers in general? ๐ how is Life Sherpa different from traditional financial advice? ๐๐ผ questions about portfolio construction ๐๐ฝ is there a one-size-fits-all all portfoโฆ
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419 buyerโs agent Q&A: residential & commercial property with John Pidgeon from this is property
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In todayโs episode Dev interviews John Pidgeon of this is property, touching on: ๐๐พ what is a buyer's agent and what do they do? ๐๐ฟ how do they get paid? ๐๐ป how to select a buyer's agent? ๐ how much does it cost? ๐๐ผ what about off-market sales? ๐๐ฝ what happens when I have a bad experience with a buyer's agent? ๐๐พ how does the negotiation process woโฆ
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In todayโs episode Dev explains the concept of a 360 review, touching on: ๐๐พ how does a 360 review work? ๐๐ฟ goals of review ๐๐ป what is a traditional review? ๐ pros and cons ๐๐ผ how do you give a 360 review? ๐๐ฝ the problems with F2F feedback We hate email spam so we donโt create it! Sign up to our newsletter to get only the valuable money, careers anโฆ
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417 how does an airline vlogger make money and invest?
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In todayโs episode Dev interviews Youtube's most watched flight reviewer, Josh Cahill, touching on: ๐๐พ paid reviews ๐๐ฟ controversies ๐๐ป youtube revenue ๐ investment and savings ๐๐ผ health and travel ๐๐ฝ traveling to dangerous places ๐๐พ experience of setting up the first all-female pilot crew in Afghanistan ๐๐ฟ tips for frequent flyers Josh Cahill YouTโฆ
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416 fixed vs variable, redraw vs offset, commercial loans, preparing to meet a broker + more (Q&A with a mortgage broker)
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In todayโs episode Dev interviews Rachelle Kroon, a mortgage broker, touching on: ๐๐พ qualifications of a mortgage broker ๐๐ฟ how to prepare for a meeting ๐๐ป how brokers get paid ๐ what are the focus of interest rates ๐๐ผ specific loan features ๐๐ฝ health care workers / high-income earners ๐๐พ difference from commercial loans ๐๐ฟ fixed variable rates ๐๐ป โฆ
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415 Q&A: overtime, burn out, property v shares, productive assets and more
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In todayโs episode Dev answers some of your questions, touching on: ๐๐พ overtime and sustainability? ๐๐ฟ ways to pay back credit cards? ๐๐ป increase earning potential? ๐ taxation for RNs, ๐๐ผ high income earns and trusts? ๐๐ฝ property vs shares Related episodes ๐ง ๐ 348 income per unit time vs income per unit effort 094 income and deductions! 099 little โฆ
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414 life, TPD, trauma & income insurance (the basics, self-insuring, using an adviser or DIY + more) part 2
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In todayโs episode Dev continues his interview with Phil Thompson - an insurance expert, going in-depth on: ๐๐ฝ income protection and life insurance ๐๐พ trauma insurance and TPD ๐๐ฟ claim rejections We hate email spam so we donโt create it! Sign up to our newsletter to get only the valuable money, careers and property info you need. To get help, and tโฆ
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413 life, TPD, trauma & income insurance (the basics, self-insuring, using an adviser or DIY + more) part 1
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In todayโs episode Dev interviews Phil Thompson - an insurance expert, touching on: ๐๐พ the basics of insurance ๐๐ฟ difference of a financial advisor and insurance advisor ๐๐ป insurance via TV ads ๐ the concept of self-insurance ๐๐ผ super vs non-super insurance ๐๐ฝ income protection and life insurance ๐๐พ trauma insurance and TPD ๐๐ฟ claim rejections httpโฆ
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412 will and estate planning (Q&A with a lawyer) part 2
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In todayโs 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: ๐๐พ the role of the executor; administering the estate ๐๐ฟ probate vs grants ๐๐ป the role of the court ๐ invalidity of the will ๐๐ผ who can challenge a will ๐๐ฝ digital assets Find oโฆ
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411 will and estate planning (Q&A with a lawyer) part 1
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In todayโs episode Dev interviews special guest Marlee Viero who is a lawyer specialising in wills and estate planning. They chat about: ๐๐พ what happens when you don't have a will? ๐๐ฟ do it yourself will kits ๐๐ป what is an executor? ๐ what is a beneficiary? ๐๐ผ what is a guardian? ๐๐ฝ what about kids under 18? ๐๐พ distribution of assets, special itemsโฆ
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410 an interview with AG (alternative investments, day trading + more)
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In todayโs episode Dev interviews special guest AG who day trades, touching on AG's experience with crypto and his personal investing philosophy. They chat about: ๐๐พ what is cryptocurrency and how do you make money from it? ๐๐ฟ costs of trading ๐๐ป net worth and income ๐ what is day trading and how one can compete with with "big people" ๐๐ผ is time inโฆ
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409 money mistakes by doctors - part 2
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In todayโs episode Dev explains money mistakes doctors make, touching on: ๐๐พ not prioritizing relationships, ๐๐ฟ not doing a will and estate plan, ๐๐ป training for far too long, waiting to become a consultant ๐ poor soft skills, ๐๐ผ complicating their financial life Related episodes ๐ง 208 what is a prenuptial or binding financial agreement? We hate emโฆ
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408 money mistakes by doctors - part 1
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In todayโs episode Dev explains money mistakes doctors make, touching on: ๐๐พ not having a budget or financial plans ๐๐ฟ debt ๐๐ป lifestyle creep ๐ under insuring themselves Related episodes ๐ง 117 what is automation? We hate email spam so we donโt create it! Sign up to our newsletter to get only the valuable money, careers and property info you need. โฆ
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In todayโs episode Dev explains buying commercial property, touching on: ๐๐ฟ types of commercial property ๐๐ป things to look for when buying a commercial real estate ๐ the pros & cons We hate email spam so we donโt 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 ouโฆ
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In todayโs episode Dev explains the concept of a share buy back, touching on: ๐๐ฟ shares outstanding ๐๐ป why a company buys their own shares ๐ how a company would buy back their own shares ๐๐ผ earnings per share ๐๐ฝ price to earnings ratio ๐๐พ advantages of share buy backs ๐๐ฟ buy backs vs share dividends ๐๐ป share buy backs vs arbitrage ๐ his personal viโฆ
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In todayโs episode Dev explains debt recycling, touching on: ๐๐พ debt ๐๐ฟ deductible vs non-deductible debt ๐๐ป debt recycling ๐ tax savings ๐๐ผ advantages of debt recycling ๐๐ฝ disadvantages of debt recycling ๐๐พ final things to consider We hate email spam so we donโt create it! Sign up to our newsletter to get only the valuable money, careers and propeโฆ
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404 an interview with Dr VJ (Renal Fellow)
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In todayโs episode Dev interviews renal fellow, Dr. VJ touching on: ๐๐พ his income ๐๐ฟ his savings rate ๐๐ป locuming ๐ his view on debt ๐๐ผ personal insurance ๐๐ฝ kids and public vs private school ๐๐พ retirement strategy ๐๐ฟ and money wins We hate email spam so we donโt create it! Sign up to our newsletter to get only the valuable money, careers and propeโฆ
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403 redundancy insurance, sole traders & tax, income protection inside vs outside super + more
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In this episode, Dev answers your questions: ๐๐พ how do you balance ethical practice, making enough money, and pursuing your own passions? ๐๐ฟ what is redundancy insurance? ๐๐ป sole trader tips for managing money owed to the ATO ๐ income protection inside super vs outside super We hate email spam so we donโt create it! Sign up to our newsletter to getโฆ
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402 an interview with Balaji Gopal from Vanguard Australia
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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: ๐๐พ the Vanguard Personal Investor platform ๐๐ฟ the cost of Australian funds vs US funds ๐๐ป is Vanguard chess-sponsored and if not, why? ๐ does it cost money to hold money in the cash account? ๐๐ผ tโฆ
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Welcome to a new season, and a new name! Long time listeners might find it familiar...๐ In this episode Dev unpacks the concept of downside risk, touching on: ๐๐พ what is downside risk and the essential components ๐๐ฟ how to measure it ๐๐ป how to protect yourself against it ๐ and the pros and cons of risk protection Related links: A good overview of dโฆ
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In todays episode replay, Dev shares some money moves to consider making in your 40s and 50s, including: ๐๐พ managing debt ๐๐ฟ reviewing your net worth to see if you are you on track ๐๐ป preserving and protect your wealth ๐ pumping that superannuation fund! ๐๐ผ determining how much you need in retirement ๐๐ฝ work choices and children's needs Related lisโฆ
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In today's top episode replay Dev shares 6 money milestones for those in their 30s, including: ๐๐พ getting personal insurance, private health insurance and investing in yourself ๐๐ฟ defining your goals and making a written financial / investing plan ๐๐ป sorting your will and estate planning ๐ avoiding lifestyle creep ๐๐ผ maximising your income - 3 A's โฆ
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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 donโt 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 โฆ
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In this episode Dev explains the concept of right sizing, including: ๐๐พ methods of rightsizing ๐๐ฟ the steps involved ๐๐ป the pros and cons ๐ Episode transcripts We hate email spam so we donโt 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, resoโฆ
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In this episode Dev explains the concept of downsizing as it relates to businesses and companies, touching on: ๐๐ป examples ๐ reasons for downsizing ๐๐ผ types of mergers and acquisition ๐๐ฝ pros & cons ๐๐พ and downsizing strategies ๐ Episode transcripts We hate email spam so we donโt create it! Sign up to our newsletter to get only the valuable money, โฆ
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349 an interview with RACGP President Dr Nicole Higgins (cost of health care, workforce challenges + more)
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In this episode Dev chats with Dr Nicole Higgins, President of the Royal Australian College of General Practitioners (RACGP). They touch on: ๐๐พ a bit about Dr Higgins and what the RACGP does ๐๐ป general practice as a speciality ๐ workforce challenges ๐๐ผ rebates and bulk billing ๐๐ฟ the cost of health care ๐๐ฝ capitation, and more! We hate email spam sโฆ
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348 income per unit time vs income per unit effort
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In todayโs episode Dev explains his concept of income per unit time and income per unit effort, touching on: ๐๐พ what is income per unit time ๐๐ฟ why is IPUT (income per unit time) important ๐๐ป businesses vs revenue per unit sales ๐ what is income per unit effort ๐๐ผ pros and cons of both concepts ๐ Episode transcripts We hate email spam so we donโt cโฆ
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In todayโs episode Dev discusses credit ratings and credit agencies, covering the following topics: ๐๐พ what is a rating? ๐๐ฟ the big 3 ๐๐ป ratings agencies and history ๐ Fitch vs Moody vs SP Global ๐๐ผ the role of credit rating agencies ๐๐ฝ benefits vs problems ๐๐พ what happened in 2008 vs rating agencies ๐๐ฟ factors affecting credit ratings ๐ Episode trโฆ
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In today's episode we're going over the basics of bonds! Dev unpacks: ๐๐ผ what is a bond? ๐๐ฝ terminology ๐๐พ bond ratings and callability ๐๐ฟ risks ๐๐ป corporate bonds ๐ bond ETFs ๐๐ผ debentures vs bonds ๐๐ฝ fixed vs floating rate bonds Related episodes ๐ง 202 bond yields, inflation + interest rates 053 what are bonds? Are they good? 214 what is the bid-aโฆ
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345 an interview with Dr Tony Chen part 2 (travel philosophy, tips & hacks)
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In this episode we're continuing our conversation with Dr Tony Chen who shares his unique travel philosophy including: ๐๐พ why he moves house every year ๐๐ฟ his hacks for saving money on flights and hotels ๐๐ป resources to learn more about point hacking ๐ his best hotel experience ๐๐ผ and thoughts on the age old debate of private vs public education Taโฆ
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344 an interview with Dr Tony Chen part 1 (radiology, childhood, why he doesn't invest in super + more)
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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: ๐๐พ his journey to becoming a radiologist ๐๐ป radiology as a career, private vs public & income ๐๐ผ childhood experience of growing up as a first generation immigrant ๐ his investing philosopโฆ
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343 what is the Dunning-Kruger effect?
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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. ๐ Episode transcripts We hate email spam so we donโt 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, resourcesโฆ
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342 teaching kids about money, defined benefit scheme & what is income protection
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In today's Q&A Dev discusses: ๐๐ป how to teach money skills to your kids ๐ what is a defined benefit scheme within super ๐๐พ and what is income protection insurance ๐ Episode transcripts We hate email spam so we donโt 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 outโฆ
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341 is debt consolidation a good idea?
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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 ๐ง 067 what is behavioural finance? 213 debt repayment strategies ๐ Episode transcripts We hate email spam so we donโt create it! Sign up to our newsletter to get only the valuable mโฆ
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340 what is the three bucket strategy?
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In today's episode Dev unpacks the three bucket retirement strategy, touching on: ๐๐พ emergency savings and liquid assets ๐๐ฟ medium term holdings ๐๐ป longer term holdings with a bit more risk ๐ 2 key factors to watch for ๐๐ผ rebalance rules ๐๐ฝ and the pros & cons ๐ Episode transcripts We hate email spam so we donโt create it! Sign up to our newsletterโฆ
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On today's show Dev explains the ten rules every investor should keep in mind: ๐๐พ reversion to the mean ๐๐ฟ the markets always overcorrect ๐๐ป excesses are a red flag! ๐ฉ ๐ bear markets have 3 stages ๐๐ผ invest regularly ๐๐ฝ keep your emotions in check ๐๐พ time in the market, not timing the market ๐๐ฟ risk vs volatility ๐๐ป experts are usually wrong ๐ diveโฆ
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The power of compounding also applies to investment fees so itโs important to know what youโre paying when you invest! In this episode Dev touches on: ๐๐พ why is investing not free ๐๐ฟ ETFs vs managed funds ๐๐ป basic fees to pay attention to ๐ what is a broker and brokerage ๐๐ผ 3 take home points ๐๐ฝ the productivity commission statement on super fees ๐โฆ
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Let's take it back to basics! In this episode Dev unpacks: ๐๐ป should you save or invest 'pay yourself money'? ๐ the pros & cons of saving ๐๐ฝ the pros & cons of investing ๐๐ผ how to calculate your savings rate ๐๐ฝ savings stats in Australia ๐๐ฟ investing concepts We hate email spam so we donโt create it! Sign up to our newsletter to get only the valuabโฆ
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In the second part of this interview Dev and Dr Dean chat about: ๐๐พ how Dean invests ๐๐ฟ his thoughts on debt ๐๐ป he and his partner's FI number ๐ public vs private education ๐๐ผ his personal protection plan (insurances, wills and estate planning) ๐๐ฝ and money wins We hate email spam so we donโt create it! Sign up to our newsletter to get only the valโฆ
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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 donโt create it! Sign up to our newsletter to get only the valuaโฆ
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335 salary packaging & HECS, rising health care costs, elective egg freezing + more
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In this Q&A episode Dev touches on: ๐๐พ the private health industry post-covid ๐๐ฟ vet careers and earning less than what people may think ๐๐ป salary packaging and HECS/HELP ๐ the process/cost of elective egg freezing ๐๐ฝ and how much of your income should you aim to save? Related listening ๐ง 309 private health insurance 105 what is salary packaging? 1โฆ
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334 investment bonds, investing via a trust, tips for graduates + more
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In today's Q&A Dev discusses: ๐ paying off debt fully vs creating an emergency fund and paying debt off gradually ๐๐ผ investment bonds ๐ early career fellow - the pros and cons of buying a $2-3m home ๐๐ฝ saving 100% towards a home vs 50/50 invest & save ๐๐พ investing via a trust ๐๐ฟ first graduate job - tips for building a good financial foundation ๐๐ป โฆ
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333 an interview with Owen Rask part 2 (value investing, index fund bubble + more)
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In today's episode we're continuing part 2 our chat with Owen Rask from the Rask Group talking about: ๐๐พ value investing and how to value a company ๐๐ฟ the index fund bubble - is it all just hype? ๐๐ป investing as a high net worth individual ๐ Owen's top money win tip Listen to part 1 here! We hate email spam so we donโt create it! Sign up to our newโฆ
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332 an interview with Owen Rask part 1
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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 donโt create it! Sign up to our newsletโฆ
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In today's episode, Dev chats with Kate Campbell from the Australian Finance Podcast about: ๐๐ป her story ๐๐พ FIRE ๐๐ฟ her career ๐ superannuation ๐๐ผ money wins ๐๐ฝ and more! We hate email spam so we donโt 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 coโฆ
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In today's episode we're chatting about how the concept of game theory applies to investing! Dev touches on: ๐๐ป what is game theory and how does it work? ๐๐พ nash equilibrium explained ๐๐ฟ various games/circumstances ๐๐ฝ common uses of game theory in economics & investing Related listening ๐ง 088 what is utility theory? ๐ Episode transcripts We hate emโฆ
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329 money wins: an interview with Dr Ted
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In today's money wins episode Dev chats with Dr Ted, a junior doctor from Victoria. Ted and Dev discuss: ๐๐พ tips for junior doctors & interns ๐๐ป career pathways in medicine ๐๐พ debt ๐๐ฟ investing ๐๐ป money tips ๐ and more! ๐ Please read our disclaimer + warnings before listening to this episode ๐ Episode transcripts ๐ก Join the mmm facebook group ๐ธ Quiโฆ
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328 an interview with Captain FI part 2
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In today's episode we're continuing with part 2 of the interview with Captain FI chatting about: ๐๐พ his investment strategy and income streams ๐๐ฟ net worth and how he calculated his FI number ๐๐ฝ his thoughts on "retiring early" ๐ + top tips from his personal finance journey ๐ Please read our disclaimer + warnings before listening to this episode ๐ โฆ
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327 an interview with Captain FI part 1
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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: ๐๐ฟ his childhood and the lessons he learned about money ๐๐ป his training and costs to become a pilot ๐ airline perks ๐๐ฝ are frequent flyer programs worth it? ๐๐พ achieving an 80% savingsโฆ
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