Your Financial Pharmacist

Emlah Tubuo, the owner and pharmacist in charge at Powell Pharmacy & founder of Emlah Naturals, a pharmaceutical-grade supplement line, shares why she decided to start her own business, the challenges she has had to overcome in starting and running a business, and how she defines personal and professional success. Key Points From This Episode  Emlah’s professional background and training.  How Emlah was able to study abroad to further her career.  The first job Emlah had after graduating and what her role was.  Highlights of Emlah’s approach to pharmacy and health care.  What motivated Emlah to start her own business.  The first steps Emlah took when starting her business.  Tim and Emlah discuss when the best time is to start a business.  The impact of the COVID-19 pandemic on the business and lessons learned.  How Emlah keeps motivated to do her best every day.  We find out more about Emlah’s new business, Emlah Naturals.  Why people should implement lifestyle changes along with taking medication.  What Emlah’s definition of success is, both personally and professionally. Links Mentioned in Today’s Episode Powell Pharmacy Emlah Naturals YFP Planning: Financial Planning for Pharmacists Schedule a free Discovery Call with YFP Planning Refinance Your Student Loans with Splash Financial ​​The E-Myth Revisited: Why Most Small Businesses Don't Work and What to Do About It by Michael E. Gerber Ohio Pharmacists Association Annual Conference Connect with Emlah Naturals on Facebook Follow Emlah Naturals on Instagram: @emlahnaturals 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® takes this question from a member of the YFP Facebook Group: How should we handle money the kids get considering their 529 accounts are well funded? Mentioned on the Show: YFP Planning: Financial Planning for Pharmacists Join the Your Financial Pharmacist Facebook Group The Opposite of Spoiled: Raising Kids Who Are Grounded, Generous, and Smart About Money by Ron Lieber YFP 202: How to Teach Your Kids About Money and Investing Investing for Kids: How to Save, Invest and Grow Money by Dylin Redling and Allison Tom YFP 211: The Ins and Outs of the 529 College Savings Plan 7 Things to Consider Before Starting a 529 Plan Send in your questions here or to info@yourfinancialpharmacist.com Your Financial Pharmacist Disclaimer and Disclosures Disclaimer: 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.

Senate Eskridge, a professional real estate investor, talks about what real estate syndication is, how it works, and what a professional real estate investor looks like.  Key Points From This Episode Introduction and brief outline of today’s show. We find out more about Senate’s professional background. Benefits that investors will get when working with Senate in real estate. Skillsets and personal qualities required for Senate’s line of work. What the difference is between a limited and general partner. Role of an operator within a syndicate and how it is different from a property manager. Senate expands on his roles and responsibilities within a syndicate. Important metrics to consider when making an investment. Tax benefits for a limited partner when making an investment in multi-family real estate. Biggest differences between multi-family depreciation and a single-family depreciation. An example of a typical syndicate operation Senate has been involved in. How return on investment works for a limited partner.  Breakdown of strategies to protect investors in a volatile market. Evaluation criteria Senate recommends before you make your investment. Resources for people who want to learn about real estate syndicates. Links Mentioned on Today’s Episode YFP Real Estate Investing 26: Leveraging Partnerships for Passive Investing Cost Segregation Services Incorporated Passive Investing Made Simple: How to Create Wealth and Passive Income Through Apartment Syndications by Anthony Vicino and Dan Krueger BiggerPockets Senate Eskridge Email Senate Eskridge: senate@senateeskridge.com Schedule a meeting with Senate Eskridge YFP Real Estate Investing Join the YFP Real Estate Investing Facebook Group Your Financial Pharmacist Disclaimer and Disclosures

Nate Hedrick and David Bright, co-hosts of the YFP Real Estate Investing Podcast, share their top tips and strategies for getting started in real estate investing.  Key Points From This Episode  An update from David and Nate regarding their coaching program.  The importance of having a strong personal financial foundation.  How to break down real estate investing.  Categories best suited for first-time investors.  Nate shares the team aspect of real estate investing to bring down the stress and reduce the barriers to entry.  Where to find a good investment property: off-market.  The importance of being able to define and state your criteria to a real estate agent.  Using math to evaluate an investment and what that looks like; setting up categories.  FAQs you’ll hear when starting in real estate investing. Links Mentioned in Today’s Episode YFP Real Estate Investing Podcast YFP Planning: Financial Planning for Pharmacists Schedule a free Discovery Call with YFP Planning Insuring Income: Get Quotes and Apply for Term Life and Disability Insurance None to One Group Coaching Program YFP 241: The Top 5 Objections to Investing in Real Estate YFP 212: Checklist for Building a Strong Financial Foundation YFP Real Estate Investing 46: Building a Family Business Around Motel Hacking Download a FREE copy of the YFP Property Analysis Spreadsheet for Pharmacist Real Estate Investors YFP Real Estate Investing 50: Deep Dive Into Spreadsheet Analysis Join the YFP Real Estate Investing Facebook Group 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® takes this question from Andrew in the YFP Community: What is tax loss harvesting and when/how should this strategy be used? Mentioned on the Show: YFP Planning: Financial Planning for Pharmacists The Snowball: Warren Buffett and the Business of Life by Alice Schroeder Send in your questions here or to info@yourfinancialpharmacist.com Your Financial Pharmacist Disclaimer and Disclosures Disclaimer: 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.

Nate Hedrick and David Bright reflect on the past year, what they have learned, and share six considerations for making an offer and getting the deal. Key Points From This Episode Reflections on a year of this podcast and the growth that our hosts have seen.  The common theme that pharmacists are detail-oriented and risk-averse. Today’s topic: how to avoid analysis paralysis and get started in real estate investing. The first of the six things to help with rapid-fire decision-making: setting your criteria. The second step: knowing your numbers, and where you can find helpful resources.   A helpful rule of thumb: the 1% rule and how it works. The third step: understanding your area and what to consider when it comes to location. The fourth step: giving yourself an out and how this relates to writing the offer.  The fifth step: gathering the data about the property.  How to investigate properties from a remote location.  The value of opinions from realtors, contractors, and home inspectors.  The sixth step: making a team decision and how this plays out differently in pharmacies and real estate. Tips on how to go about building a team and some resources that may help. Links Mentioned on Today’s Episode Join the YFP Real Estate Investing Facebook Group YFP Real Estate Investing 47: 5 Things to Know Before Walking a House with Your Realtor YFP Real Estate Investing 03: Running the Rental Numbers with Blake and Zac YFP Real Estate Investing 50: Deep Dive Into Spreadsheet Analysis Download a FREE copy of the YFP Property Analysis Spreadsheet for Pharmacist Real Estate Investors YFP Home Buying Quick Start Guide YFP Real Estate Investing YFP Real Estate Investing 08: Ten Terms for Today’s Market YFP Real Estate Investing 15: Long-Distance Rental Property Investing YFP Real Estate Investing 31: What Makes an Investor-Friendly Agent With HGTV’s Lauren Risley Buying a home? Check out YFP’s Real Estate Concierge Service to Find a Vetted Real Estate Agent in Your Area Find an Investor Friendly Agent Your Financial Pharmacist Disclaimer and Disclosures

YFP Director of Business Development, Justin Woods, PharmD talks about 10 takeaways from more than 50 discovery calls he’s conducted, where he has had a close look at the financial goals and concerns of pharmacists across the country. Key Points From This Episode What YFP Planning has to offer clients and what discovery calls are. Why people feel guilty about their financial situation when seeking advice. The concerns clients have regarding saving up for retirement. The prevalence of questions and interest that Justin experiences regarding real estate. A brief outline of the concerns around repayment of student debt and the PSLF program.  Why YFP Planning services are suited for non-pharmacists as well. The importance of involving both partners in the planning process. When is the best time to begin the financial planning process. Justin outlines some of the fees associated with the planning process. An explanation of the “fee-only” model that YFP Planning uses. Challenges around estimating the return on investment for clients. The benefits of coupling your financial plan with a tax plan. Links Mentioned in Today’s Episode YFP Planning: Financial Planning for Pharmacists Schedule a free Discovery Call with YFP Planning Refinance Your Student Loans with Splash Financial SPIVA Data YFP 247: 10 Common Financial Mistakes Pharmacists Make YFP Real Estate Investing Podcast YFP Real Estate Investing 01: Intersection Between Financial Planning and Real Estate YFP 248: How 3 Pharmacists Had $700,000 of Student Loans Forgiven YFP Tax 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® takes this question from the YFP Facebook Group: Should I invest in my company 401(k) given my limited hours and associated fees? Mentioned on the Show: YFP Planning: Financial Planning for Pharmacists Join the Your Financial Pharmacist Facebook Group YFP 208: Why Minimizing Fees On Your Investments Is So Important Send in your questions here or to info@yourfinancialpharmacist.com Your Financial Pharmacist Disclaimer and Disclosures Disclaimer: 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.

Dr. Louisa Wolowiecki discusses her entrepreneurial journey, her ‘life by design’ mindset, and some hard and fast rules for real estate investing as a pharmacist.  Key Points From This Episode Jumping right in with Dr. Wolowiecki's varied pharmacy career. Becoming a pharmacist in a time when it was a much more male-dominated field. What drew her to entrepreneurship and the low-risk low-barrier way she entered the field. Discussing burnout and the realizations that many people had during COVID, particularly women. About creating a life by design and not by default.  A top exercise she does with helping people figure out what they want. Some of the entrepreneurial ways pharmacists have designed their life. Hear about some of the blocks she sees, and some steps to creating your steps. A good lesson she learned early on in her property investment career. What she's learned in the last 10 years that have become her cardinal rules. The top strategy to juggle her commitments: time blocking. Her top podcast by Julie Ciardi, and her love of the classic financial empowerment books. Closing advice for the risk-averse: just start, take baby steps, and get going. Links Mentioned on Today’s Episode BiggerPockets Rich Dad Poor Dad: What the Rich Teach Their Kids About Money That the Poor and Middle Class Do Not! by Robert T. Kiyosaki Rich Dad's CASHFLOW Quadrant: Rich Dad's Guide to Financial Freedom by Robert T. Kiyosaki The Your Financial Pharmacist Podcast YFP Real Estate Investing Podcast Think and Grow Rich by Napoleon Hill Ignite Her Mind Podcast with Julie Ciardi Connect with Dr. Louisa Wolowiecki on LinkedIn Follow Dr. Louisa Wolowiecki on Instagram: @dr.louisa.pharmd Book a Pivot Your Paradigm Clarity Call with Dr. Louisa Wołowiecki YFP Real Estate Investing Join the YFP Real Estate Investing Facebook Group Your Financial Pharmacist Disclaimer and Disclosures

YFP Co-Founder and Director of Financial Planning, Tim Baker CFP®, RLP®, talks about the three silent killers of your investment pie and how to keep your investment portfolio fit. Key Points From This Episode An introduction to today’s topic. The importance of including tax in your financial plan. How tax permeates all parts of your financial plan. Tim Baker shares some of his experiences regarding tax, working as a financial planner. Some examples of simple tax reduction strategies. How to ensure the withdrawal of investments after retirement in terms of tax. A discussion on inflation trends. Why it is important to consider inflation in your financial plan and investments. We learn how investments can help you get ahead of inflation. A detailed discussion on the issues and impact of fees on your investment. Links Mentioned in Today’s Episode YFP Planning: Financial Planning for Pharmacists Schedule a free Discovery Call with YFP Planning Insuring Income: Get Quotes and Apply for Term Life and Disability Insurance Book a Speaking Event Email Your Financial Pharmacist: info@yourfinancialpharmacist.com YFP Tax YFP 233: Tax Moves to Consider Before 2022 YFP 248: How 3 Pharmacists Had $700,000 of Student Loans Forgiven YFP 239: Two Financial I's You May be Overlooking YFP 208: Why Minimizing Fees On Your Investments Is So Important Are You Making This $1 Million Mistake? Your Financial Pharmacist Disclaimer and Disclosures