Your Financial Pharmacist

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

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: Where should I start investing if I have disposable income available? Mentioned on the Show: YFP Planning: Financial Planning for Pharmacists Join the Your Financial Pharmacist Facebook Group YFP 072: Investing Mind Tricks: How Behavioral Bias Affects Our Decisions YFP 073: How to Determine the Priority of Investing YFP 074: Evaluating Your 401k Plan YFP 075: DIY, Robo or Hire a Planner? Seven Figure Pharmacist by Tim Church, PharmD and Tim Ulbrich, PharmD YFP 096: How to do a Backdoor Roth IRA 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 do a deep dive into real estate investing spreadsheet analysis, covering how to analyze a property with different angles, strategies, and methods. Key Points From This Episode The advantages of a simple starting point when investing. Highlights of the current success of the 'None to one' course. The focus of today's episode: financial planning for real estate investing. Nate tells us about an interesting investment in the Cleveland area. What the 1% rule is and why to consider it when investing in property. The common misconception regarding the rental and mortgage of a property. How to calculate your mortgage based on the principle and the interest. The incorporation of property taxes and insurance into your expenses. What Nate regards as negotiable expenses. Property management rates as an expense and what they are based on. Why it is important to account for vacancy as an expense. What repairs and capital expenditures are. Examples of unexpected fees in the property sector. How to manage cashflow and why it is important to have reserves. Some of the upfront costs to factor in when buying a property. Cash on cash return and how to calculate it. Aspects to consider when making an investment. Links Mentioned in Today's Episode None to One Group Coaching Program Download a FREE copy of the YFP Property Analysis Spreadsheet for Pharmacist Real Estate Investors Example Property for this Episode's Anaylsis YFP Real Estate Investing 41: Deep Dive: Repairs and Capital Expenditures Join the YFP Real Estate Investing Facebook Group YFP Real Estate Investing Your Financial Pharmacist Disclaimer and Disclosures

Robert Lopez, CFP® and YFP Planning Lead Planner, discusses the current state of the PSLF program, plus three pharmacists share their PSLF success stories. Key Points From This Episode Introducing today's topic: the PSLF success stories of three pharmacists. A reminder of who Robert Lopez is and his role at Your Financial Pharmacist. An overview of the first and second half of the show and what we will cover. The basics of PSLF, Public Service Loan Forgiveness, and who qualifies. Which changes were made to the rules of PSLF. What the big news comes down to: you don't have to rule out forgiveness. What the limited waiver meant for those in the military. Optimization strategy with PSLF and how Robert recommends you reallocate your finances. The benefit of switching to a lower payment plan while achieving a long-term forgiveness plan. An introduction to Kimberly Gale's journey into the world of pharmacy. The amount of debt she graduated with and how much was ultimately forgiven. How she discovered PSLF through a friend's recommendation. Challenges she faced along the way, including communication at the beginning. How PSLF helped her to afford the lifestyle she wanted for her family. Ashley Hicks' story of gravitating towards pharmacy because of her love for people. How much Ashley ultimately had forgiven through PSLF. The challenge that uncertainty and anxiety posed within her PSLF process. How optimization and strategy can help navigate late discovery loans. The opportunities that PSLF opened up for her and her husband to focus on other goals. Meet Kyle Sobecki and learn about his work as a pharmacist in a nonprofit hospital. Kyle's story of having had exactly $189,038.72 forgiven. Homework he has done along the way leading up to choosing PSLF. How PSLF works when you work for a non-profit. Uncertainties and challenges he had along the way. His advice with regards to filing your paperwork on time each year. Goals the PSLF plan freed Kyle up to pursue including paying off personal debt. Links Mentioned in Today's Episode YFP Planning: Financial Planning for Pharmacists Schedule a free Discovery Call with YFP Planning YFP 214: How Anna Got $127k Forgiven Through PSLF Ask a YFP CFP® 090: How can I decide if pursuing PSLF will be beneficial for me at this point in my payoff journey? PSLF Help Tool The Your Financial Pharmacist Podcast Learn More About Our 1:1 Student Loan Analysis with a CFP®: use code YFP for 10% off 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: Can I contribute to my Roth IRA if I'm over the income limit this year? Mentioned on the Show: YFP Planning: Financial Planning for Pharmacists Join the Your Financial Pharmacist Facebook Group 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.

Drew Wiard, The Flying Investor, discusses his prolific success in real estate investing, scaling from single family homes to multi-million dollar syndication deals. Key Points From This Episode Jumping in with Drew Wiard's background and real estate career. He shares the 'why' behind his prolific success. The stepping stones that took him from one house to multifamily syndicated deals. The focus of his first few years and the type of unit that became his bread and butter. What drew him to commercial property and what got easier (and more difficult). Pushing back on the fear that real estate will eclipse everything in your life. The differences between being a real estate operator or an investor. Specific areas that Drew found success in as a more passive investor. The importance of reaching out to your local REIA. Why making mistakes is good; you can adapt in real estate in ways you can't in pharmacy. Syndication and Drew's approach to this kind of collaboration. Hear about the 163 unit project he just finished in Phoenix. Drew shares how he got started with acquiring bigger funding and what to avoid. How Drew deals with risk management at scale. How buying more houses mitigates risk rather than increasing it. Why playing 'feel' estate is a recipe for disaster. Drew explains his persona: The Flying Investor. His top strategy to make investing work hand-in-hand with being a pharmacist and family man. Daily journaling, habit-tracking, and his top advice if you're just starting out. Links Mentioned on Today's Episode Clear Sky Properties National Real Estate Investors Association Drew Wiard, The Flying Investor Youtube Channel Connect with Drew Wiard on Facebook Connect with Drew Wiard on Instagram: @theflyinginvestor YFP Real Estate Investing Join the YFP Real Estate Investing Facebook Group Your Financial Pharmacist Disclaimer and Disclosures