Your Financial Pharmacist

YFP Co-Founder & CEO, Tim Ulbrich, PharmD, talks about ten common financial mistakes that pharmacists make. Key Points From This Episode The number one mistake on our list: paying too much interest on your student loan debt. Tim shares the way to shift your mindset away from the 'monopoly money' feeling. Diving into student loan strategy and the different buckets to consider. Talking about service loan forgiveness and PSLF strategy, and how to maximize these. Why emergency funds take a back seat and how to avoid delaying getting one. Some tips on starting your emergency fund. Mistake number four: protecting your income. Accepting your income is fixed, and factoring in inflation and debt loads. Putting numbers to the retirement savings saying of 'save early, save often.' Investing in a way that maximizes your tax savings! A reminder of why it's crucial to create a tax strategy and do your tax planning. Talking about saving out of order for kid's college. How to get a certified financial planner who has your best interests at heart. Links Mentioned in Today's Episode YFP Planning: Financial Planning for Pharmacists Schedule a free Discovery Call with YFP Planning Join APhA - Get 25% Off Your Membership with Code: YFP The Ultimate Guide to Pay Back Pharmacy School Loans Learn More About Our 1:1 Student Loan Analysis with a CFP® Insurance for Pharmacists 19 Ways to Make Extra Money as a Pharmacist in 2020 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? YFP Tax YFP 233: Tax Moves to Consider Before 2022 YFP 211: The Ins and Outs of the 529 College Savings Plan YFP 015: Financial Planning Series: Interview w/ Tim Baker (West Point to CFP) YFP 016: Financial Planning Series: Benefits of a Financial Planner YFP 017: Financial Planning Series: Questions to Ask Your Financial Planner 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 Brian in Buffalo, New York: What tax implications are there when using HSA funds as "play money"? Mentioned on the Show: YFP Planning: Financial Planning for Pharmacists YFP 165: The Power of a Health Savings Account 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, your podcast hosts, discuss seven frequently overlooked rental property expenses that real estate investors should consider. Key Points From This Episode The opportunity we have during tax season to evaluate what we have done. How certain things get overlooked when a property has not been tenanted. An introduction to today's topic: the often overlooked expenses attached to real estate. Why tenant turnover cost is a factor: marketing, applications, open houses, and more. How to mitigate the costs: host viewings while it is tenanted, for example. What seasonal demand means. Zoning considerations and why there is a cost attached to this. Loan considerations and how they turn into unexpected or unanticipated costs. Why it is important to know that repairs happen and setting money aside for them. Why it is beneficial to be more judicious in your research. The constant: there will always be property taxes and they will often go up. What we have seen in terms of local property taxes. How reasonable planning can help you create a more intelligent path forward. Links Mentioned in Today's Episode YFP Real Estate Investing 41: Deep Dive: Repairs and Capital Expenditures YFP Real Estate Investing Find an Investor-Friendly Agent Join the YFP Real Estate Investing Facebook Group Your Financial Pharmacist Disclaimer and Disclosures

Dr. Lisa Faast, Founder & CEO of DiversifyRx, discusses her mission to make pharmacy profitable again. Key Points From This Episode Hear the story of Lisa's grandmother and how she was drawn into this profession. The roundabout path from her first job out of pharmacy school to pharmacy ownership. What gave her the confidence to take a leap of faith and start Faast Pharmacy. The biggest lessons she learned as an entrepreneur and business owner! Juggling life as a first-time mom and first-time business owner. About selling the business and making marketing her best friend. How she started DiversifyRx and created a profitable buffet table for pharmacy owners. How pharmacists often have different priorities to business people. Scaling the business to reach more pharmacists at once. Hear about Pharmacy Badass University. About all the free content Lisa puts out and where you can find it. How characteristics that help you in pharmacy school can hinder you in business. Tackling ideas of what failure is and how perfectionism impacts business. Links Mentioned in Today's Episode YFP Planning: Financial Planning for Pharmacists Schedule a free Discovery Call with YFP Planning The 4-hour Work Week By Timothy Ferriss DiversifyRx DiversifyRx YouTube Channel Connect with DiversifyRx on LinkedIn Follow DiversifyRx on Instagram: @diversify_rx Becoming a Pharmacy Badass Podcast Pharmacy Badass University Tribes: We Need You to Lead Us by Seth Godin Pharmacy Profit Summit National Community Pharmacists Association Smart Passive Income Email Dr. Lisa Faast: info@diversifyrx.com Connect with Dr. Lisa Faast on LinkedIn 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 Martika in Owensboro, Kentucky: What financial considerations should my fiancé and I think about before getting married? Mentioned on the Show: YFP Planning: Financial Planning for Pharmacists Schedule a free Discovery Call with YFP Planning 10 Financial Discussions Every Couple Should Have 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.

Real estate agent, Carly Swihart, discusses five things to know before walking a house with your realtor. Key Points From This Episode Introducing Carly Swihart and how she accidentally found her love of real estate. Diving into the five things investors need to know before walking a house. Having a good relationship with a lender and knowing what your options are. The difference between pre-approval and pre-qualified. Carly's top advice to first-time local investors on how to get specific with what you want. Property condition, timelines, identifying your risk appetite, and more. How she coaches a client who's feeling a little overwhelmed. Unpacking the importance of order and timing when it comes to repairs. How she walks the line of price points and ballpark figures when it comes to repairs. The importance of knowing your numbers before setting foot on the property. Getting an agent who is honest and also knows all the factors to get creative with. Looking at your property as a bank and working backward from there. How Carly makes sure she's working on the business and not in the business. Her top two resources in this journey: BiggerPockets and great mentorship. Closing advice around using your imagination to role play a deal and see how you feel. Links Mentioned in Today's Episode YFP Real Estate Concierge Service YFP Real Estate Investing Zillow BiggerPockets Carly Swihart Follow Carly Swihart in Instagram: @carlyrswihart Join the YFP Real Estate Investing Facebook Group Your Financial Pharmacist Disclaimer and Disclosures

Tony Umholtz, a Mortgage Manager for First Horizon, discusses getting under contract in a competitive home buying market. Key Points From This Episode Hear about Tony's background and the work he's doing right now with First Horizon. How we're still at historically low-interest rates, even with the recent rise we're seeing. Some context on the current market and why we currently have a housing shortage. Tony shares why it matters what type of loan you get. Important factors to consider when evaluating and considering the lender that you choose. What an escalation clause is and some of the potential pros or cons to look out for. Tony comments on the recent trend of waving inspection contingency. Whether the earnest dollar amount is going up in this market and if offering more makes a difference. The three pieces that will allow you to get out of the contract and not lose your earnest dollars. Some advice on what to do if you're looking for an option with a lower down-payment. Why there are so many cash offers out there at the moment. We talk about some great strategies to help out with the seller cost. Links Mentioned in Today's Episode Learn More About First Horizon's Pharmacist Home Loan and Start the Pre-Approval Process YFP Planning: Financial Planning for Pharmacists Schedule a free Discovery Call with YFP Planning YFP 136: The Ins and Outs of a Pharmacist Home Loan YFP 154: Getting a Home Loan in a Pandemic YFP 169: Helpful Tips for Getting a Mortgage YFP 191: 10 Common Mortgage Mistakes to Avoid YFP 204: The Current State of Buying, Selling, and Refinancing a Home YFP 216: Common Credit Blunders to Avoid When Buying a Home YFP 230: 5 Steps to Get Ready for a Home Purchase Apply for Pharmacist Home Loan Schedule a Free Call with Nate Hedrick YFP Concierge Service Homebuying Resources 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 Stephen in Sacramento, California: What yearly tax implications should I be thinking about when contributing to brokerage accounts? Mentioned on the Show: YFP Planning: Financial Planning for Pharmacists Schedule a free Discovery Call with YFP Planning YFP Tax 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.

Stewart Olney, PharmD and Elizabeth Olney, Realtor discuss their real estate investing path from house hacking by renting out a spare room to motel hacking and building a real estate business through hotel and motel investments. Key Points From This Episode Introducing today's guests Stewart Olney, PharmD, and Elizabeth Olney. Stewart's journey as a pharmacist and how that ties into his introduction to real estate. Why Airbnb has been an integral tool for Stewart and Elizabeth's real estate journey. Stewart and Elizabeth's limited budget after her first pregnancy. How YouTube initially helped them with doing all the rehabilitation work themselves. How they learned from the mistakes of others as well as trial and error. Why Stewart describes their approach as 'house hacking'. How moving into the homes they purchased unlocked access to advantageous financing. The story of how they purchased the motel in which they currently live. How they have used technological innovations and AirBnB services to automate and streamline their check-in and check-out processes. A breakdown of their plan to purchase and run another motel in their area. Insights into commercial loans and how they differ from other loans. Why getting outside help with property management has had such a positive impact on their lives. The resources that have had the biggest impact on their real estate journey. Their top advice for any pharmacist who wants to start investing in real estate. Links Mentioned in Today's Episode Connect with Stewart Olney on LinkedIn Dave Ramsey Rich Dad Poor Dad: What the Rich Teach Their Kids About Money That the Poor and Middle Class Do Not! by Robert T. Kiyosaki BiggerPockets The Totem Lodges Join the YFP Real Estate Investing Facebook Group YFP Real Estate Investing Your Financial Pharmacist Disclaimer and Disclosures

Nate Hedrick, the Real Estate RPh, is back on the show discussing 6 common home buying debates. Key Points From This Episode An introduction to today's guest, Nate Hedrick, co-host of the YFP Real Estate Investing Podcast. Why home-buying decisions are not absolutes, but rather another aspect of the financial plan. How there's no wrong way to go about financial planning, it just matters what you care about. Some of the pros and cons of 20% and why the most important question is what your capabilities are. Nate's thoughts on the opportunity cost of money that's being tied up in low-interest rate debt. Building versus buying and who each option is best suited to. Buying property with and without student loans. Weighing up buying a starter home versus buying a forever home. Why the term 'forever home' is a bit of a misnomer. The benefit of having multiple exit strategies. Why renting is not necessarily a terrible financial choice. The unforeseen costs of owning a home. Links Mentioned in Today's Episode Real Estate RPh YFP Real Estate Investing Podcast YFP Concierge Service Schedule a Free Call with Nate Hedrick YFP 241: The Top 5 Objections to Investing in Real Estate YFP 193: Building vs Buying a Home: What to Consider Three Strategies for Buying a House with Student Loans YFP 113: Is Your Home an Asset or Liability? Your Financial Pharmacist Disclaimer and Disclosures