Your Financial Pharmacist

Pharmacists and real estate investors Nate Hedrick and David Bright explore today’s shifting housing market and ask: Is real estate investing less volatile than the stock market?  Episode Summary In this episode, pharmacists and real estate investors Nate Hedrick and David Bright break down what they’re seeing in today’s real estate market, from inconsistent pricing strategies to shifting buyer and seller behavior, and explore the bigger question: Is real estate investing less volatile than the stock market? They reflect on how current trends compare to recent years and what that means for investors looking to buy, flip, or hold in 2025.  Whether you’re new to real estate or reassessing your strategy in an unpredictable market, this episode offers timely insights to help you invest with more confidence. Mentioned on the Show Lessons from the Red: Navigating Big Market Dips Median Sales Price of Houses Sold for the United States Has Real Estate or the Stock Market Performed Better Historically? S&P 500 Average Returns and Historical Performance    

Wondering whether to contribute to a Roth or Traditional retirement account? Tim Ulbrich and Tim Baker break down key factors like tax brackets, Roth 401(k) access, and long-term planning tips to help you decide. Episode Summary One of the most common questions we get is: Should I contribute to a Roth or Traditional retirement account? In this episode, YFP Co-Founder & CEO, Tim Ulbrich, PharmD, and YFP Co-Founder & COO, Tim Baker, CFP®, RLP®, RICP®, break down the key factors to consider when deciding between Roth and Traditional contributions, including: ✅ Your current and projected future tax bracket ✅ How much you’ve already saved in each account type ✅ Roth 401(k) availability through your employer ✅ State income tax implications ✅ Whether you have the cash flexibility to consider Roth conversions ✅ How the Roth IRA’s freedom from required minimum distributions (RMDs) can be a valuable planning tool If you’ve ever found yourself wondering which retirement bucket to prioritize, or if you’re simply trying to be more tax-savvy with your savings, this episode is for you. 📩 Have a question for a future Ask YFP episode? Submit it here: info@yourfinancialpharmacist.com Mentioned on the Show YFP YouTube Channel YFP 405: Navigating Retirement Income: How to Turn Assets into a Paycheck Record a Question to be Featured on an Ask YFP Episode Email YFP: info@yourfinancialpharmacist.com

Navigating a job change? This conversation highlights essential financial tips, from negotiating job offers to managing benefits effectively. Discover the importance of evaluating your compensation package beyond just salary, including retirement plans and healthcare options. Learn authentic negotiation tactics that build relationships and confidence. The discussion also emphasizes the need for informed decision-making around your financial future and the potential complexities of financial advice during career transitions. Get ready for a smoother transition!

Does a 1% AUM fee really cost you 25% of your returns? Tim Ulbrich and Tim Baker run the numbers and give you a framework to evaluate the real cost and the real value of financial planning. Episode Summary YFP Co-Founder & CEO, Tim Ulbrich, PharmD, and YFP Co-Founder & COO, Tim Baker, CFP®, RLP®, RICP®, tackle a common concern about working with a financial advisor: Does paying a 1% fee for assets under management (AUM) really eat away a quarter of your investment gains over time? We run the actual numbers using compound interest calculators to see how much a 1% advisory fee could cost over the long term and whether the 25% claim holds true. But this episode isn’t just about math. Tim and Tim also zoom out to look at the bigger picture: What’s the ROI of the fee you’re paying? Because it’s not just about investment returns, it’s also about the potential behavioral coaching, tax strategies, withdrawal planning, and comprehensive financial guidance that a good advisor brings to the table. Whether you’re a die-hard DIY investor, already working with an advisor, or considering working with a financial planner for the first time, this episode will give you a practical framework to evaluate the real cost and real value of financial advice. Mentioned on the Show YFP YouTube Channel YFP 404: 5 Key Questions to Ask Before Hiring a Financial Planner  Vanguard: Putting a value on your value: Quantifying Vanguard Advisor’s Alpha® The Investment Funds Institute of Canada. Financial Advice in Canada, November 2022. Kitces Quantifying the Value of Financial Planning Advice Record a Question to be Featured on an Ask YFP Episode Email YFP: info@yourfinancialpharmacist.com

Are you feeling financially stuck despite a solid income? Dive into the reasons why many pharmacists hit financial plateaus. Discover how a fixed mindset, stagnant income, and escalating costs can limit your progress. It’s not just about budgeting—it's about transforming your perspective on money and potential. Gain valuable insights on living below your means and enhancing your financial strategy for greater freedom and opportunities. Tune in for actionable steps toward financial empowerment!

In this special Father’s Day episode, Tim Ulbrich shares five unexpected and powerful money lessons he’s learned from raising four boys. Episode Summary YFP Co-Founder & CEO, Tim Ulbrich, PharmD, reflects on the unexpected and powerful financial lessons he’s learned from raising four boys. From conversations at the concession stand to big-picture reflections on priorities, Tim shares 5 meaningful insights that go beyond spreadsheets and savings accounts. Whether you're a parent, planning to be one, or simply interested in how life shapes our money mindset, this episode offers a personal and practical look at the intersection of fatherhood and finance. Mentioned on the Show YFP 363: A Conversation with My Dad: Lessons on Entrepreneurs, Fatherhood, and Finance  YFP 402: Building a Legacy: The Family Constitution Blueprint with Julia Myers Die With Zero: Getting All You Can From Your Money and Your Life by Bill Perkins Happy Money: The Science of Happier Spending by Elizabeth Dunn and Michael Norton  

What mindset separates high earners from true wealth builders? Inspired by The Millionaire Next Door by Dr. Thomas Stanley, Tim Ulbrich breaks down how changing his perspective on money transformed his financial path, and how it can do the same for you. Episode Summary YFP Co-Founder & CEO, Tim Ulbrich, PharmD explores the key mindset shift that helps pharmacists quietly build lasting wealth. This isn't about flashy cars or overnight success. It's about the habits, discipline, and mindset millionaires use to build wealth quietly and consistently. Drawing from both personal experience and lessons from The Millionaire Next Door by Dr. Thomas Stanley, he shares how pharmacists and other high-income earners can adopt a wealth-building mindset that prioritizes financial independence over lifestyle inflation. Whether you’re just getting started or looking to level up, this episode will challenge how you think about money and give you the tools to create lasting change. In this episode, you’ll learn: The mindset millionaires adopt (that most people don’t) Why high income doesn’t guarantee financial freedom How to build money habits that grow wealth over time What these insights mean for pharmacists and other professionals pursuing financial independence Mentioned on the Show First Horizon’s Pharmacist Home Loan Your Financial Pharmacist The Millionaire Next Door by Dr. Tom Stanley I Will Teach You to be Rich by Ramit Sethi The Compound Effect by Darren Hardy  

What should you do with an old 401(k)? Tim Ulbrich and Tim Baker explore your options, common pitfalls, rollover strategies, and how to make smart moves with old retirement accounts after leaving a job. Summary When you leave a job, what happens to the retirement account you left behind? In this episode, YFP Co-Founder & CEO, Tim Ulbrich, PharmD, and YFP Co-Founder & COO, Tim Baker, CFP®, RLP®, RICP®, take a deep dive into the important financial decisions surrounding old employer-sponsored retirement plans, such as 401(k)s and 403(b)s. Tim and Tim discuss the impact these often-overlooked accounts can have on your overall financial plan and explore your available options, whether that’s leaving the money in your former employer’s plan, rolling it over to your new employer’s plan, or transferring it to an IRA. They break down the pros and cons of each approach, highlight common mistakes like the “set it and forget it” trap, and explain why understanding fees and account access is so important. The conversation also emphasizes the value of working with a fiduciary advisor and the serious risks of cashing out these accounts too soon. To complement the episode, they introduce YFP’s new guide: The Best and Worst Moves to Make with an Old 401(k), designed to help you avoid costly missteps and feel confident in your next move. Whether you're changing jobs, planning ahead for a career transition, or simply want to be more intentional about your retirement savings, this episode will give you the clarity and guidance you need. Mentioned on the Show First Horizon’s Pharmacist Home Loan Your Financial Pharmacist YFP Guide: Best & Worst Moves to Make With an Old 401(k) FIRE Rx: The Pharmacist’s Guide to Financial Independence YFP Episode 404: 5 Key Questions to Ask Before Hiring a Financial Planner Reference: 2024 Kitces Report on Financial Planning

Quynh and Tri Vu, two professionals who transitioned from pharmacy and IT careers into real estate, share their journey into investing in raw, vacant land and building Secure Land Co. Summary Quynh and Tri Vu, two professionals who transitioned from pharmacy and IT careers into real estate, share their journey into investing in raw, vacant land in this episode of the YFP Real Estate Investing Podcast. Joined by hosts Nate Hedrick, PharmD, and David Bright, PharmD, Quynh and Tri walk through their early steps in real estate, starting with single-family rentals and moving into the world of short-term rentals like Airbnbs. As their experience grew, so did their ambition, leading them to explore diverse markets and ultimately carve out a niche in the often-overlooked space of raw, vacant land. They break down what makes land investing unique, detailing the due diligence required, the creative value-add strategies they use, and how they evaluate properties with potential. Along the way, they also share how they balanced their demanding careers while building a real estate portfolio, leaned on community and mentorship, and eventually took the leap into full-time investing through their business, Secure Land Co. Whether you’re just getting started or looking to diversify your real estate strategy, this episode offers valuable insights, encouragement, and practical advice from two people who made the leap and never looked back. Mentioned in Today’s Episode Your Financial Pharmacist Secure Land Co Website Secure Land Co Instagram Secure Land Co YouTube YFP on Instagram YFP Facebook Group

Tim Ulbrich and Tim Baker answer two questions from the YFP community on using 529 funds for student loans and the most cost-efficient ways to invest in digital assets like Bitcoin. Summary In this episode, YFP Co-Founder & CEO Tim Ulbrich, PharmD, is joined by YFP Co-Founder & COO Tim Baker, CFP®, RLP®, RICP®, to answer two insightful financial questions from the YFP community. First, they explore whether it makes sense to use 529 plan funds to pay off student loans. Tim and Tim break down the relevant provisions of the SECURE Act, highlight key limitations and tax implications, and discuss scenarios where this strategy could be beneficial—or not. Next, they tackle a question about buying Bitcoin efficiently. They compare the most cost-efficient ways to invest, including using various platforms, ETFs, and tax-advantaged accounts like IRAs. They also weigh the pros and cons of each approach, including fee structures, accessibility, and long-term considerations. Whether you’re considering how to best use your 529 funds or exploring your first steps into cryptocurrency, this episode provides practical, pharmacist-specific guidance to help you make informed financial decisions. Mentioned on the Show YFP 368: How Much is Enough for Kids' College? YFP 211: The Ins and Outs of the 529 College Savings Plan YFP 404: 5 Key Questions to Ask Before Hiring a Financial Planner YFP 386: Cryptocurrency & Digital Assets: Definitions, Origins, and Risks YFP 387: Cryptocurrency & Digital Assets: Investment Considerations and Tax Implications