Your Financial Pharmacist

On this episode, sponsored by First Horizon, YFP Director of Tax, Sean Richards CPA, EA, summarizes a tax checklist for small business owners. Summary Too many of us are caught in the trap of only looking at taxes during tax season. As a small business owner, missing the tax mark can have significant consequences in the form of surprise payments due, missed deductions and credits, and constantly wondering if there is something else you should be doing. So whether you are a seasoned business owner or just starting, on this week's episode, sponsored by First Horizon, YFP Director of Tax, Sean Richards, CPA, EA walks us through a small business owner tax checklist including eight key areas that demand your attention. He touches on the fundamentals of bookkeeping, qualified deductible expenses, the benefits of financial projections to make estimated payments, the significance of S Corp status, insights on determining your owner's compensation, and much more. Mentioned on the Show Sean Richards on LinkedIn First Horizon's Pharmacist Home Loan Profit First Simple Numbers, Straight Talk, Big Profits! YFP Tax Tim Ulbrich on LinkedIn Subscribe to the YFP Newsletter YFP Disclaimer

Welcome to Ask a YFP CFP®, a segment of the Your Financial Pharmacist Podcast! On today's show Tim Baker, CFP®, RLP®, RICP®, takes a question from an individual in the YFP Facebook Group. Mentioned During the Show YFP Facebook Group YFP Life Inusurance for Pharmacists: The Ultimate Guide Submit Your Question Have a question you would like us to feature on an upcoming episode? Send us an email at info@yourfinancialpharmacist.com or record your question at www.yourfinancialpharmacist.com/askyfp Your Financial Pharmacist Disclaimer and Disclosures This podcast is intended for educational purposes and should not be considered financial or investment advice as we do not know all the variables to one's personal situation when answering a question. For more information visit https://yourfinancialpharmacist.com/disclaimer/

On this episode, sponsored by Pyrls, Lan Ho, PharmD, Founder of Fat Miilk, shares her journey going from pharmacist to full-time entrepreneur featured on Gordon Ramsay's Food Stars. Summary Joining us this week on the YFP Podcast is Lan Ho, PharmD, Founder of Fat Miilk Vietnamese Coffee Company based in Chicago, Illinois. Tune in as we dive into her career journey in pharmacy before she shares why she started Fat Miilk, what she learned after appearing on Gordon Ramsay's Food Stars, the most important thing she's learned about herself since starting the business, and what lies ahead for Fat Miilk in the coming years. We discuss every step of Lan's incredible journey to full-time entrepreneurship which began with an unexpected furlough from a retail pharmacy position in in 2020. We explore the rewards available when you are willing to take a risk, the biggest areas of growth she has experienced along the way, and why she is choosing a clicks-to-bricks approach to building her business. About Today's Guest Lan Ho is a first-generation Vietnamese American who made a bold career change from pharmacist to beverage entrepreneur after being furloughed during the pandemic. She pivoted to pursue her dream and successfully launched Fat Miilk - Chicago's first Vietnamese CPG coffee company. The brand saw instant global recognition when Bon Appetit listed Fat Miilk on their "Highly Recommend" list. Fat Miilk can be found in publications, including Eater, TimeOut, Thrillest, Roast Magazine, and more. Lan is recognized as a thought leader in consumer branding, customer experience, CPG, and the coffee industry. She was recently a finalist on Gordon Ramsay's Food Stars on FOX network, where she represented her brand, leadership, and entrepreneurial story. Lan is currently expanding Fat Miilk's reach through e-commerce and with Chicago's first Vietnamese coffee bar showcasing a full cultural experience. She aims to inspire more minority representation in mass media, entrepreneurship, and executive roles. Mentioned on the Show Lan Ho on LinkedIn Lan Ho on X Lan Ho on Instagram Fat Miilk Vietnamese Coffee Gordon Ramsay's Food Stars Truffl Pyrls YFP Planning: Fee-Only Financial Planning for Pharmacists YFP Disclaimer Tim Ulbrich on LinkedIn Subscribe to the YFP Newsletter

Loan officer Jack Bowers (NMLS# 1957264) joins the show to talk about the evolving lending landscape and changes in house hacking investing. Episode Summary As we near the end of 2023 and anticipate 2024, the lending landscape is undergoing significant changes. Conventional mortgage underwriting guidelines are evolving, impacting down payments and cash-out refinance considerations, especially for owner-occupants in small multifamily houses. Today, we're joined by Jack Bowers (NMLS# 1957264), a loan officer from Union Home Mortgage, who provides some key insights into these changes. In our conversation, we explore historical interest rates in relation to where they are now, house hacking, and corresponding lending options, along with nuances in different loan programs. Jack also outlines Ohio-specific programs for first-time homebuyers and walks us through a practical example. He advises on buying fixer-uppers and the shifting cash-out refinance strategy, and shares valuable advice for those considering the real estate investment journey! About Today's Guest Jack Bowers is a Loan Officer with Union Home Mortgage who has been in the mortgage industry for over 3 years and has helped hundreds of families directly & through his work on a top-producing team. Jack grew up in Northeast Ohio and earned his Bachelor of Science (Major in Fashion Merchandising, Minor in Marketing) from and played rugby for Kent State University. Mentioned on the Show Jack Bowers on LinkedIn Jack Bowers Email Jack Bowers Phone — (330) 848-7203 Union Home Mortgage Ohio Housing Finance Agency Ohio Heroes Grants for Grads Program Apply for Grants for Grads YFP REI 95: Investing Ideas: House Hacking, 401k Real Estate, and Glamping YFP REI 85: Pharmacist House Hacking in a HCOL State YFP REI 30: Short-Term Rental House Hacking YFP REI 10: Getting Started Through House Hacking Your Financial Pharmacist YFP Real Estate Investing Facebook Group

On this episode, Jackie Boyle, PharmD, MBA and Paul Boyle share their journey paying off $208k of student loans. Summary Debt can be an overwhelming weight on one's shoulders, but imagine paying off an astounding $208,000 of it! This week on the podcast, we are joined by the inspirational duo, Jackie and Paul Boyle. They recount their journey from being neck-deep in student loans to paying them off entirely. This episode delves into their personal and collective strategies, their highs and lows, the financial compromises made, and how they kept the momentum to reach the finish line. From Paul's decision to be a stay-at-home dad to Jackie's reflections on missed opportunities with the PSLF program, their experiences provide invaluable insights for anyone navigating their own debt repayment process. We also dive into the emotional and financial challenges they encountered, especially when transitioning to a single-income household. Yet, their story isn't just about the hurdles; it's brimming with actionable takeaways and advice for those on similar paths. As Paul and Jackie demonstrate, with determination, strategic financial planning, and mutual support, even the heftiest of student loans can be overcome. So whether you're struggling with student loans, seeking motivation, or just curious about the Boyles' debt-free journey, this episode is a must-listen. Join us and discover how you too can rewrite your financial story! About Today's Guest Jackie Boyle is a pharmacy educator by day and coaches pharmacists and pharmacies in a part-time capacity. She received her Doctor of Pharmacy from Northeast Ohio Medical University in 2012, MBA from University of Findlay in 2016, and Master and Bachelor degrees from THE Ohio State University (O-H!) She is highly involved in professional organizations including ASHP and AACP, and also loves spending time with her husband and two daughters, Gianna and Giulia. In her free time, she loves spinning, yoga, and enjoying a warm cup of coffee. Paul Boyle is a Client Service Associate out of the Cleveland, Ohio area where he has had a diverse career of over 20 years, mostly taking care of customers and clients in various fields of service ranging from manufacturing to professional baseball. He received a Bachelor's degree in Sport Management from The University of Akron in 2020, while taking time away from the workforce to raise his children. Paul spends most of his free time with his wife, Jackie, and two daughters, Gianna and Giulia. An avid Cleveland sports fan, musician and aspiring podcaster. When not supporting his local teams he likes to enjoy the occasional motorcycle ride, which is another longtime passion. Mentioned on the Show Jackie Boyle on LinkedIn Paul Boyle on LinkedIn YFP Planning: Fee-Only Financial Planning for Pharmacist Subscribe to the YFP Money Matters Newsletter

On this episode, sponsored by FirstHorizon, Brenna Roth, MD, MPH, shares her journey having over $550k of student loans forgiven tax-free via PSLF. Summary Are student loan forgiveness programs a beacon of hope for graduates drowning in debt? Joining us this week is Brenna Roth, MD, MPH; a physician who achieved an incredible financial milestone - over $550,000 of student loans wiped clean through the Public Service Loan Forgiveness (PSLF) program. In our conversation, Brenna discusses her background in medicine, the accumulation of her student loan debt, her initial feelings about the debt, and her journey to tax-free forgiveness. She also shares advice for individuals facing high student loan debt and considering PSLF as an option. We also unpack the challenges of dealing with loan servicing companies, the impact of the COVID-19 payment freeze, and the benefits of lower monthly payments through income-driven repayment plans for those pursuing PSLF. If you're curious about the PSLF program or facing significant student loan debt, Brenna's inspiring story sheds light on the potential benefits of pursuing loan forgiveness and highlights the changing landscape of student loan repayment. About Today's Guest Brenna Roth, MD, MPH is an infectious disease doctor and public health specialist who works in academic global health and research. She lived and worked in Tanzania for 3 years and has continued to work on international programs and research projects across sub-Saharan Africa since. She has successfully navigated the Public Service Loan Forgiveness Program across multiple loan servicers, jobs, and continents. Mentioned on the Show Brenna Roth, MD, MPH on LinkedIn Federal Student Aid YFP 248: How 3 Pharmacists Had $700,000 of Student Loans Forgiven Episode Sponsor: First Horizon YFP Planning: Fee-Only Financial Planning for Pharmacists Tim Baker on LinkedIn Tim Ulbrich on LinkedIn YFP Disclaimer Subscribe to YFP Newsletter

On this week's podcast, sponsored by APhA, Certified Insurance Counselor, Insurance Agent, and Medicare Specialist, Josh Workman, joins the show to cover Medicare 101 and considerations for selecting your Medicare coverage plan. Summary Many people (including pharmacists!) aren't fully informed about Medicare, the options they need to consider, and the pros and cons of each option. That's why, in this week's episode of the podcast, we brought on Certified Insurance Counselor, Insurance Agent, and Medicare Specialist, Josh Workman to give us a Medicare 101! Tuning in, you'll hear about Josh's role in the world of helping seniors navigate Medicare benefits, options for coverage, and the five main differences between Medicare Advantage and Supplement plans. Finally, he shares some words of wisdom for pharmacists struggling to answer Medicare questions for themselves, family members, and even clients. About Today's Guest Located in the Akron Ohio area Josh Workman has been an insurance agent since 2010 with Medicare planning being his main area of focus. He started his career with Nationwide, but then moved to an Independent agency in 2014. Aside from helping individuals who are new to Medicare, he also works with professionals such as care facility coordinators, doctors and pharmacists as they assist their patients with Medicare plan decisions. Medicare can be extremely confusing so instead of the salesman angle, Josh takes an educational approach when helping his clients with Medicare Supplements, Part D Plans and Medicare Advantage Plans. One of his favorite parts of the job is teaching Medicare 101 classes to people who are new to Medicare. Mentioned on the Show Joshua Workman on LinkedIn Joshua Workman Email Address McMichael Insurance Use Coupon Code YFP to Get 25% off at APhA Membership YFP Planning: Fee-Only Financial Planning for Pharmacists Tim Ulbrich on LinkedIn YFP Disclaimer Subscribe to the YFP Newsletter

Co-hosts David and Nate take a look at how you can accurately calculate your cash-on-cash returns and returns on equity given the current market conditions. Episode Summary The global pandemic has led to massive shifts in the real estate investing market. So today, co-hosts David and Nate take a look at how you can accurately calculate your cash-on-cash returns and returns on equity given the current market conditions. After briefly talking through the common pains of evictions, they assess current property market conditions and why and how they've changed so drastically since 2020. They discuss why property conversions are usually the smarter play before revisiting the BRRRR method, unpacking how to measure returns on equity, and exploring some key strategies for maximizing equity gains. As a bonus, they share what you should be thinking about before jumping to sell in favorable market conditions, and end with noteworthy advice on the importance of yearly check-ins on your long-term investments. Links Mentioned in Today's Episode Episode 50: Deep Dive Into Spreadsheet Analysis Episode 75: Market Check-In: Is BRRRR Dead? Nate Hedrick on Instagram David Bright on Instagram YFP Real Estate Investing Website YFP Real Estate Investing Facebook Group

Tim Baker, CFP, RICP, RLP joins Tim Ulbrich, PharmD to discuss open enrollment & evaluating employer benefits. Summary This week on the podcast, Tim Ulbrich, PharmD sits down with YFP co-owner and Director of Financial Planning, Tim Baker, CFP, RICP, RLP to discuss open enrollment and the process of evaluating employer benefits. They discuss considerations for choosing a health insurance plan, how to determine whether or not your employer-provided life and disability insurance is sufficient, the differences between an FSA, Dependent Care FSA, and HSA, and what to be looking for when putting money into your employer-sponsored retirement plan. Mentioned on the Show YFP Planning: Financial Planning for Pharmacists Book a free Discovery Call with YFP Planning YFP 044: How to Determine Your Life Insurance Needs YFP 045: How to Determine Your Disability Insurance Needs Your Financial Pharmacist YFP 165: The Power of a Health Savings Account Why I'm Not Using My Health Savings Account to Pay for Medical Expenses Ask a YFP CFP© #84: What can I do about the fees on my HSA account? YFP 074: Evaluating Your 401k Plan YFP 208: Why Minimizing Fees On Your Investments Is So Important Your Financial Pharmacist Disclaimer and Disclosures

Welcome to Ask a YFP CFP®, a segment of the Your Financial Pharmacist Podcast! On today's show Tim Baker, CFP®, RLP®, RICP®, takes a question from an individual in the YFP Facebook Group. Submit Your Question: Have a question you would like us to feature on an upcoming episode? Send us an email at info@yourfinancialpharmacist.com or record your question at www.yourfinancialpharmacist.com/askyfp Your Financial Pharmacist Disclaimer and Disclosures: This podcast is intended for educational purposes and should not be considered financial or investment advice as we do not know all the variables to one's personal situation when answering a question. For more information visit https://yourfinancialpharmacist.com/disclaimer/