Your Financial Pharmacist

Summary Stacie Moltzan Loescher, PharmD paid off $345 000 of student loan debt in just five years and she joins us today to share her incredible journey to becoming debt-free! Tuning in, you'll hear about the hard work and clear vision that led Stacie to the financial freedom she enjoys today. We unpack her process to aggressively repaying her loans, from working throughout pharmacy school and undergrad to paying off a car alongside her student debt. Stacie touches on how her childhood experiences impacted her approach to financial management as an adult, and reveals how she could sustain the momentum necessary to pay off the debt, before sharing powerful advice for graduates as they choose how to approach their own student debt. In closing, Stacie offers a glimpse into her future plans which are focused on building a net worth through side hustles and real estate investment. About Today's Guest Dr. Stacie Moltzan Loescher is a Pharmacist currently working in central processing for Albertsons Companies and is currently appointed as the Assistant Grand Vice President for Collegiate Affairs of the Phi Delta Chi Professional Pharmacy Fraternity. She attended Rosalind Franklin University of Medicine and Science where she received her Doctor of Pharmacy degree in 2017. During her career as a pharmacist, she has worked as Staff Pharmacist and Pharmacy Manager at multiple retailers throughout Wisconsin, Indiana, and Illinois. She has also served in multiple regional and national positions at Phi Delta Chi. She enjoys traveling, fishing, and fitness. Links Mentioned in Today's Episode Stacie Moltzan Loescher on LinkedIn Tim Ulbrich on LinkedIn YFP Disclaimer Subscribe to the YFP Newsletter

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/

Summary Colin Carr got into real estate investing at the age of 18 and his approach of honing in on a very specific niche has served him well. His company, CARR, currently operates in over 45 states, and has helped more than 4,200 healthcare providers or practices across the country to close commercial real estate deals. Although commercial real estate is more complicated than residential real estate, as Colin explains, if you're willing to take the plunge and learn the ropes, it will be well worth it! Tune in to this episode to hear about it all, from what the due diligence process in the commercial real estate space looks like, to your financing options to the length of time you can expect to wait before closing a deal. The market may be softer than it has been in recent years, but Colin believes there are still some incredible opportunities out there to pursue. About Today's Guest Colin Carr began his real estate career at the age of 19 by managing multi-family apartment complexes in the greater Lansing, Michigan area. Colin moved to Denver, Colorado in his early twenties and continued in property management, where he managed several mid and high-rise apartment complexes near downtown Denver. He received his broker's license at 23 and began representing local, regional, and national companies with their commercial real estate needs. Initially, Colin represented both landlords, sellers, tenants, buyers, and investors across a broad spectrum of commercial real estate specialties, including: office, industrial, retail, land, and investment real estate. After almost a decade of real estate experience that spanned numerous areas of exposure, and with several hundred completed real estate transactions on his resume, Colin was drawn to the Healthcare field and began focusing exclusively on healthcare related transactions. In a short period of time, Colin realized he was having more impact and influence representing healthcare providers while enjoying the results of 'helping people who help people' beyond any area of real estate he had ever been involved in. Links Mentioned in Today's Episode CARR CARR on LinkedIn CARR on Facebook CARR on Instagram CARR on YouTube YFP Real Estate Investing Website YFP Real Estate Investing Facebook Group

Summary Today's edition of our Pharmacy Innovators series is filled with vital information for pharmacy entrepreneurs on how to expertly navigate the risks involved with leaving the W2 world behind. In today's episode, host Dr. Corrie Sanders sits down with the Founder of Perfecting Peds, Dr. Jena Quinn, PharmD, BCPPS, to discuss Jena's transition from working 9-5 to running her own consulting business that is focused on medication management in complex pediatric patients. Our guest explains the role that her family played in her decision to take up pharmacy, how and why she made the pivot to pediatrics, what inspired her to break free from her W2 job, and how she benefited from being willing to branch into a new industry (cosmetics sales). Dr. Jena then shares why she is not too concerned about AI in pharmacy before diving into how she built her company's team, how she uses the various social media platforms, why she chooses to always lead with authenticity, and what it was like for her to take on a new business challenge as a pregnant mother of two. This powerful conversation is filled with advice and strategies for those who are contemplating a non-traditional career path, and Dr. Jena explains everything she loves about being a business owner and pharmacy entrepreneur! About Today's Guest Jena Quinn, PharmD, BCPPS, is an expert pediatric pharmacist. She developed the vision for Perfecting Peds based on her extensive background in medication management of pediatric population, personal love for children and her desire to optimize more children's medical profiles. She has 10 years of safe medication management and direct patient care experience in the pharmacy field with a wide-ranging background in developing, enhancing and managing clinical consulting programs. Dr. Quinn earned both her Doctoral degrees with high honors from the Ernest Mario school of Pharmacy. She is a nationally Board-Certified Pediatric Pharmacist. She is also a mom to three adorable little girls, Hadley, Peyton and Avery. Links Mentioned in Today's Episode Dr. Jena Quinn on LinkedIn Dr. Jena Quinn on Instagram Perfecting Peds Perfecting Peds on Facebook Rutgers University GlaxoSmithKline Thomas Jefferson University Hospital Children's Hospital of Philadelphia Rodan + Fields MedActionPlan Corrie Sanders on LinkedIn YFP Disclaimer Subscribe to the YFP Newsletter

YFP Director of Tax, Sean Richards, CPA, EA digs into what midyear tax projections are, why they matter, and specific examples where a midyear projection can help someone optimize their financial situation. We discuss the importance of adjusting withholdings, ensuring record keeping is up to date, common pitfalls business owners and side hustlers can avoid with a projection and tax considerations with student loan payments coming back online. Links Mentioned in Today's Episode Subscribe to the YFP Newsletter Sean Richards on LinkedIn YFP 309: Top 10 Tax Blunders Pharmacists Make IRS Tax Withholding Estimator YFP Tax YFP Planning: Fee-Only Financial Planning for Pharmacists YFP Real Estate Investing Facebook Group Tim Ulbrich on LinkedIn YFP Disclaimer

Episode Summary Welcome to our seventh installment of the case study series with Tim Baker, CFP®, RLP®, Kelly Reddy-Heffner, CFP®, CSLP®, CDFA®, and Angel Melgoza, MS CFP®. During this episode, we are sharing a fictitious case study with you about an engaged couple in their 20s. We delve into their finances, expenses, and their goals before discussing their assets, savings, investments, liabilities, and debt. Angel and Kelly discuss why they would tackle student loans before anything else in this couple's financial plan, how recent changes announced to student loans will impact their loan repayment strategy, how marriage, children, and other big life events affect financial planning, and the importance of emergency funds and savings. Finally, we talk about why wealth protection is so important and why we see clients struggle with that the most. Links Mentioned in Today's Episode YFP Planning: Fee-Only Financial Planning for Pharmacists Kelly Reddy-Heffner on LinkedIn Angel Melgoza on LinkedIn Tim Baker on LinkedIn YFP Planning: Fee-Only Financial Planning for Pharmacists YFP Disclaimer Subscribe to the YFP Newsletter

Summary Are you looking to make a shift in your investing, but you've come upon some questions that you're looking for advice on? On this episode, we welcome back Mariah Pierce, PharmD, who reached out to us with a few questions as she prepares to make a shift in her investing. We talk about her new prospective investment options, and we dive into a quick explanation of the FHA 203K loan. We then discuss and share thoughts on her three major questions in preparation for her investment shift. About Today's Guest Mariah Pierce, PharmD is a managed care pharmacist and works at a health plan in central Illinois. She is the co-founder of MeRiah Transportation and hopes to start many other ventures in the future. She enjoys all things business, audiobooks, and has a love for entrepreneurship. Mariah is an out-of-the-box thinker finding ways to make money and make a difference. Links Mentioned in Today's Episode Mariah Pierce on LinkedIn YFP REI Episode 30: Short-Term Rental House Hacking Your Financial Pharmacist YFP Real Estate Investing Facebook Group

Summary Buying a home can be a daunting, exciting, and overwhelming experience. On this weeks podcast, sponsored by Real Estate RPh, we are joined by Neal and Kaitie Fox to discuss how they went about buying their first home. Neal is a pharmacist and Kaitie is a stay-at-home mom, and in this episode, they tell us what made them decide to buy a house when they did, what they would say to someone wanting to purchase their first home, and how interest rates and other aspects played a role in their decision. They delve into how they chose a financial lender and why they decided to change who they financed their house with at the last minute before explaining how YFP assisted them in this process. When looking for a real estate agent, it is important that you find someone who takes your needs into consideration and communicates effectively, and Neal and Kaitie explain why they decided to change agents early on in their journey. Finally, our guests remind us to use our resources wisely and ask as many questions as possible when buying a home. About Today's Guests Neal and Kaitie travelled from their hometown of Coshocton, OH to attend Cedarville University in 2011. A year later they married at age 19 and began their joint financial adventure. Kaitie began working at the University food service contractor and eventually became the Head Baker, supporting the family through pharmacy school and until the birth of their second son. Now, Kaitie is home raising Timothy, 5, and David, 1, while Neal works. Neal completed his PharmD at Cedarville and a PGY1 residency at Premier Health Miami Valley Hospital, a Level 1 Trauma Center with over 950 licensed beds and over 110 adult ICU beds. He currently serves as one of the Medical ICU Clinical Pharmacy Specialists and the Research Project Coordinator for the PGY1 pharmacy residency program. He occasionally gives lectures or hands-on training at Cedarville University while also taking APPE students from several pharmacy schools throughout the year. Links Mentioned in Today's Episode Neal Fox on LinkedIn Neal Fox on Twitter Kaitie Fox on Twitter Real Estate RPH Nate Hedrick on LinkedIn YFP Planning: Fee-Only Financial Planning for Pharmacists YFP Real Estate Investing Facebook Group YFP Disclaimer

About Today's Guest Rachel Cruze is a two-time #1 national best-selling author, financial expert, and host of The Rachel Cruze Show. Since 2010, Rachel has served at Ramsey Solutions, where she teaches people to avoid debt, save money, budget, and how to win with money at any stage in life. She's authored three best-selling books, including her latest, Know Yourself, Know Your Money: Discover WHY You Handle Money the Way You Do and WHAT to Do About It. Follow Rachel on Twitter, Instagram, Facebook, and YouTube or online at rachelcruze.com. Summary National best-selling author and financial expert, Rachel Cruze, joins Tim Ulbrich to discuss her newest book, Know Yourself, Know Your Money: Discover WHY You Handle Money the Way You Do and WHAT to Do About It. Tim and Rachel delve into various portions of the book, highlighting specific lessons and concepts relatable to pharmacists, parents, and anyone interested in learning more about themselves and their relationship to their finances. Rachel walks listeners through "Discovering Your Personal Money Mindset," including how we form our ideas about money and how we learn to handle money as we do through "Your Childhood Money Classroom." Rachel goes through the four money classrooms. She reminds us that regardless of the quadrant that you grew up in, you can choose your quadrant from this point forward. Rachel outlines seven money tendencies, how they not only impact your financial picture, and how these tendencies affect interpersonal relationships with significant others. Tim and Rachel share an earnest discussion about money fears, detailed in Chapters 5 and 6 of the book. They close with an eye-opening discussion on part 2 of the book, focusing on the "Power of Contentment." Rachel shares how contentment changes your motivation for spending. She explains a practical exercise for determining what brings you joy and demonstrates how learning where and how you find happiness allows you to focus your spending on what is truly important to you. Mentioned on the Show The Rachel Cruze Show Know Yourself, Know Your Money by Rachel Cruze Dave Ramsey's 7 Baby Steps Ramsey Solutions RachelCruze.com Follow Rachel Cruze on Instagram: @rachelcruze Connect with Rachel Cruze on Facebook Subscribe to The Rachel Cruze Show on Youtube Follow Rachel Cruze on Twitter: @RachelCruze

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 Sarah in the YFP Facebook Group who asks about considerations with kids 529 accounts in the midst of a divorce. Mentioned on the Show: YFP Episode 211: The Ins and Outs of the 529 College Savings Plan 7 Things to Consider Before Starting a 529 Plan YFP Planning: Financial Planning for Pharmacists Record your questions here or send them via email to info@yourfinancialpharmacist.com 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/