Your Financial Pharmacist

Summary On this episode of YFP Real Estate Investing Podcast, co-hosts David Bright and Nate Hedrick provide a mid-year check on the REI market, including how they are evaluating opportunities and what they are seeing in their own real estate portfolio. They discuss how the 1% rule applies in today’s market, considerations for converting your primary residence into a rental, and how future mortgage qualifications are affected by past and present properties you own and have owned. Links Mentioned in Today's Episode YFP Real Estate Investing Property Analysis Spreadsheet Free Download YFP Real Estate Investing Episode 50: Deep Dive into Spreadsheet Analysis  YFP Real Estate Investing Episode 41: Deep Dive: Repairs and Capital Expenditures YFP Real Estate Investing  YFP Real Estate Investing Facebook Group Nate Hedrick on Instagram Nate Hedrick on Facebook Real Estate RPH David Bright on Instagram David Bright on Twitter David Bright on Facebook

Episode Summary On this week’s episode of the YFP Podcast, we tackle getting your estate plan buttoned up. We’re joined by Tim Baker, CFP®, RICP®, RLP®, Co-Founder of Your Financial Pharmacist, to talk about estate plan preparations. We go through why it’s important to plan your estate, what an estate plan includes, and what happens if you do not have one in place. Tim then shares his thoughts and insights on three action areas; documentation, beneficiaries, and legacy folders. Links Mentioned in Today's Episode American Pharmacists Association Caring.com’s 2023 Wills Survey Episode 222: Why Estate Planning is Such an Important Part of the Financial Plan I’ve Still Got Me: A Widow's Journey to Love, Happiness & Financial Independence YFP Planning: Fee-Only Financial Planning for Pharmacists YFP Disclaimer Tim Baker on LinkedIn Tim Ulbrich on LinkedIn Subscribe to the YFP Newsletter  

Episode Summary The tax filing deadline is behind us so time to sit back and relax, right?! As YFP Director of Tax, Sean Richards, CPA, EA, tells us today, it’s important we are keeping tax front of mind year-round to avoid common blunders that show up during tax filing season. During this episode, Sean outlines ten of the most common mistakes he saw pharmacists make throughout the tax season including his thoughts on how year-round planning can help mitigate these mistakes. About Today's Guest Sean Richards, CPA, EA, received his undergraduate degree in Corporate Finance and Accounting, as well as his Master of Accountancy, from Bentley University in Waltham, MA. Sean has been a Certified Public Accountant (CPA) since 2015 and received his Enrolled Agent certification earlier this year. Prior to joining the YFP team, Sean was the Senior Treasury Manager at PRA Group, a global debt buyer based in Norfolk, VA. He began his career at American Tower Corporation where, over 10 years, he held several positions in audit, treasury, and accounting. As the Director of YFP Tax, Sean focuses on broadening the company’s existing tax planning and preparation operations, as well as developing and launching new accounting offerings, including bookkeeping, payroll, and fractional CFO services. Links Mentioned in Today's Episode Subscribe to the YFP Newsletter YFP Comprehensive Tax Planning Service Sean Richards on LinkedIn RITA Inflation Reduction Act (IRS) Most Common Tax Mistakes (Made by Pharmacists) Download First Horizon Pharmacist Home Loan Requirements YFP Disclaimer

Episode Summary If we don’t earmark our cash for specific items, we’re very likely to spend it. In this YFP Planning Case Study, Tim Baker, CFP®, RLP®, Kelly Reddy-Heffner, CFP®, CSLP®, CDFA®, and Angel Melgoza, MS CFP® use a hypothetical couple (Joe and Jane Script) to discuss balancing retirement savings with a major purchase and education planning. After being provided with an overview of the couple’s finances and their goals for the future, Kelly and Angel pick apart their investment approach and offer advice for how they could make it more sound. From the importance of saving with the intention of avoiding getting hit with a surprise tax bill, this episode will make you think more deeply about the way you approach your financial plan! Links Mentioned in Today's Episode RightCapital YFP Planning: Fee-Only Financial Planning for Pharmacists YFP Disclaimer Tim Baker on LinkedIn Angel Melgoza on LinkedIn Kelly Reddy-Heffner on LinkedIn Subscribe to the YFP Newsletter  

Summary Danny Mach, PharmD joins the YFP Real Estate Investing Podcast to talk about his journey from purchasing his first single-family home in 2019 to growing his portfolio to include four single-family homes and being a partner in an 11-duplex deal. During this episode, you’ll hear about Danny’s career track in pharmacy, how and why he got started in real estate investing, and the lessons he has learned along the way. Finally, Danny explains the importance of prioritizing your pharmacist job, shares his love for Bigger Pockets, and reminds us to take action!  About Today's Guest Daniel Mach, PharmD is a clinical informatics pharmacist and a small-time real estate investor who is on a mission to achieve financial freedom. After graduating from the University of Oklahoma College of Pharmacy in 2017, Danny dove headfirst into the world of healthcare. At the time, he did not have any interest in real estate investing but wanted to explore other avenues for building wealth and achieving financial stability. His drive to work was over an hour one way and he decided to make good use of that time by educating himself through podcasts including BiggerPockets. This led him to the world of real estate investing, where he purchased his first single-family home in 2019. Since then, he has grown his portfolio to include four single-family homes and partnered with other investors on an 11-duplex deal. While he still considers himself a small-time investor, he’s incredibly proud of the progress he has made in building a profitable portfolio that supports his long-term financial goals. Links Mentioned in Today's Episode Daniel Mach on LinkedIn Daniel Mach Email Address Daniel Mach on Instagram (@dannymach) Bigger Pockets YFP Real Estate Investing Website YFP Real Estate Investing Facebook Group  

Summary On this episode of The Pharmacy Innovators segment of the YFP podcast, sponsored by First Horizon, Dr. Izabella Wentz (The Thyroid Pharmacist) joins Dr. Corrie Sanders. Izabella is a pharmacist turned business owner and best-selling author. After being diagnosed with Hashimoto's disease, Izabella took steps to turn her own questions into an answer for others, founding two companies, and writing three books! About Today's Guest Izabella Wentz, PharmD, FASCP, is an internationally acclaimed thyroid specialist and a licensed pharmacist who has dedicated her career to addressing the root causes of autoimmune thyroid disease after being diagnosed with Hashimoto’s thyroiditis in 2009. She is the author of three books on Hashimoto’s: Hashimoto’s Thyroiditis Lifestyle Interventions for Finding and Treating the Root Cause, Hashimoto’s Food Pharmacology, and Hashimoto’s Protocol, which became a #1 New York Times bestseller. Links Mentioned in Today's Episode YFP Home Loan Page: 5 Easy Steps to Get a Home Loan Thyroid Pharmacist Izabella Wentz on Instagram Adrenal Transformation Protocol The Thyroid Secret Hashimoto's Protocol Rootcology Dr. Mark Hyman GSK Morningstar IFM  A4M Dr. Alan Christianson JJ Virgin Mindshare Collaborative HarperOne YFP Planning: Fee-Only Financial Planning for Pharmacists YFP Disclaimer  

Episode Summary Investing your money is one thing, but people often overlook the fact that they should also be investing in themselves. An article in the Wall Street Journal in late 2022 suggested that “The Best Investment to Make in 2023 Is in Yourself” and that people should treat their own career development like they do their investment portfolios. To discuss this, we are joined by Erin Albert, PharmD, JD, MBA. Erin is the vice president of pharmacy relations and the chief privacy officer at Mark Cuban Cost Plus Drug Company. In addition to being a pharmacist, she's an attorney, author, and podcaster. She explains the concept of investing in oneself by building a portfolio of how we spend our time and money and how she applies this to her own life. She talks about the five categories that make up her professional development portfolio, how often she revisits this framework, and what it looks like to pay herself dividends along the way. She also talks about what she looks for in education and training programs and how her personal brand and network have accelerated the achievement of her goals.  About Today's Guest Erin L. Albert is Vice President of Pharmacy Relations and Chief Privacy Officer at Mark Cuban Cost Plus Drug Company, PBC. She is both a pharmacist and an attorney. Prior to joining Mark Cuban, she worked in a variety of pharmacy roles, including pharmacy benefits, taught pharmacy students at Butler University College of Pharmacy and Health Sciences for over a decade, served as a director of content for two different ACPE accredited Continuing Pharmacy Education programs, consulted in both fee for service and managed care Medicaid, worked in the pharmaceutical industry in a variety of roles—(including pharmacovigilance, clinical trials, medical affairs, and medical marketing), and in community practice pharmacy as a staff pharmacist and pharmacist-in-charge. She is also a freelance writer and author of over a dozen books, and podcaster (at The Edutainer Podcast.) Links Mentioned in Today's Episode Erin Albert    Mark Cuban Cost Plus Drugs Company   Shark Tank “The Best Investment to Make in 2023 Is in Yourself”  Book: Find Your Unicorn Space by Eve Rodsky] Book: Strengths Finder by Don Clifton The Team Cuban Card  Survey: Team Cuban Benefits Card YFP Planning: Fee-Only Financial Planning for Pharmacists 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 this question from Daphne in Madison, Wisconsin: How can I best prepare for an unexpected major health challenge? Mentioned on the Show: 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/ 

In over 300 episodes of Your Financial Pharmacist, we haven’t covered much about annuities and today, Tim Baker, CFP®, RICP®, RLP® joins Tim Ulbrich, PharmD to do just that. On this episode, sponsored by First Horizon, you’ll hear all about what annuities are, the main types and how they differ, common misunderstandings, fees associated with annuities, and how they can assist with building a retirement paycheck through the flooring strategy. Links Mentioned in Today's Episode First Horizon’s Pharmacist Home Loan   LIMRA: 2022 US Retail Annuity Sales Shatter Annual Sales Records Set in 2008 YFP Episode 275: How to Build a Retirement Paycheck YFP Episode 242: Social Security 101: History, How it Works, and Why it Matters YFP 294: 10 Common Social Security Mistakes to Avoid Immediate Annuities Website YFP Planning: Fee-Only Financial Planning for Pharmacists YFP Disclaimer Tim Baker on LinkedIn Tim Baker on Twitter Tim Ulbrich on LinkedIn Tim Ulbrich on Twitter  

Alex Cartwright, PhD, an associate professor of economics and managing partner at Vilicus Capital, discusses strategies for navigating today's real estate market, why he is making a move toward syndication, and why clenching onto tools won’t necessarily help you get to where you want to go.  Links Mentioned in Today's Episode: Alex Cartwright on LinkedIn Alex Cartwright on Twitter Vilicus Capital Open Door Capital Bigger Pockets Podcast Brandon Turner Apartment Investing Podcast Range Episode 26 Senate Eskridge Episode 53 Senate Eskridge Episode 24 Savannah Arroyo Epiosde 21 Ketan Patel Robert Kiyosaki Grant Cardone