Join 27,000+ doctors and dentists in the 'Investing for Doctors' Facebook group: https://facebook.com/groups/investingfordoctors
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In this episode of the Investing for Doctors Podcast, we sit down with Alissa Childs from Two Birds One Loan to discuss how doctors can navigate lending and borrowing during major life changes, such as starting a family, returning to study or switching careers.
We talk about why being newly self-employed doesn’t have to ruin your chances of getting a loan, how specialist medical lending teams in banks can offer doctors more flexibility than standard brokers ever could, and the main reason many doctors wrongly believe they need two years of tax returns before they can borrow.
We also discuss how starting a family and parental leave can significantly impact your serviceability, the unexpected role of private school fees in determining your borrowing power, and MORE.
If you want to make smart, strategic lending decisions as a doctor, no matter what life throws at you, then make sure to listen to this episode!
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SHOW NOTES LINKS
https://au.linkedin.com/in/mian-bi
Alissa’s Links
https://au.linkedin.com/in/alissa-childs-8816777a
https://www.twobirdsoneloan.com.au/
https://www.facebook.com/twobirdsoneloan
https://www.instagram.com/twobirdsoneloan/
http://www.linkedin.com/company/two-birds-one-loan
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LISTEN TO THE PODCAST:
Spotify: https://spoti.fi/3FoBRAy
Apple Podcast: https://apple.co/4iks50N
Amazon Music: https://amzn.to/3DoyJnP
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FIND US HERE
Website: https://ifdgroup.com.au/
Facebook Group: https://www.facebook.com/groups/investingfordoctors
Facebook Page: https://www.facebook.com/investingfordoctors
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TIME STAMPS
00:00 – Intro: Why Doctors Struggle With Borrowing Despite High Incomes
02:25 – Maternity Leave & Part-Time Work: How Banks Really View It
06:12 – Planning Ahead: Get Pre-approval Before You Go On Leave
09:45 – The Impact of Returning to Work Slowly (1-2 Days/Week)
11:50 – Parental Leave Structures: How to Prove Your Return to Income
20:10 – How Equity Release Can “Remove” School Fees From Your Expenses
23:50 – $330K Equity Release Case Study for Twins at Private School
28:22 – Can You Borrow to Fund a Fellowship or PhD? (The Honest Answer)
30:40 – PhD Stipends Are Tax-Free… but Don’t Count as Income?!
36:10 – Mainstream vs Non-bank Lenders: Who’s More Flexible?
38:30 – Why You Should Never Take the First “No” From a Bank or Broker
40:00 – Community Wisdom: How 27,000 Doctors Are Helping Each Other Navigate Finance
42:00 – Final Thoughts: Plan Ahead, Know the Rules, Beat the System
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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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