Your Financial Pharmacist

Welcome to Ask a YFP CFP®, a segment of the Your Financial Pharmacist Podcast! On today's show Tim Baker, CFP®, takes this question from Stephen in Sacramento, California: Is it ok to have a portion of my emergency fund in electronic U.S. Treasury Savings Bonds? Mentioned on the Show: YFP Planning: Financial Planning for Pharmacists Treasury Direct Series I Savings Bonds Your Financial Pharmacist Webinars Register for the Key Financial Moves to Make Before 2022 Webinar  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 take a deep dive on leveraging your money through a mortgage. Key Points From This Episode Nate updates us on his great rental in Cleveland. Trying to predict what to expect for 2022. Reaching out to listeners; tell us what you want our next webinar to be about! How risky it feels to borrow money if you've been in student loan debt before. Diving deeper into our topic for today: leveraging your money through mortgages. Getting into some common FAQs on shopping for loans. We do the math to break down the potential financial risks of different scenarios. What the short and long-term risks are if the market shifts downwards.  The costs of selling a house that's had a big level of value increase, and the value of looking at it from a percentage basis. Proving how leveraging lowers the barrier to entry in real estate investing.  How real estate is just not as liquid as other types of investing. Setting up your mortgage, balloon payments, property managers, and more! Diversifying to manage risk, and using the stock market as a great analogy. Links Mentioned in Today’s Episode Join the YFP Real Estate Investing Facebook Group Submit Your Webinar or Episode Ideas: realestate@yourfinancialpharmacist.com YFP Real Estate Investing YFP Real Estate Investing 31: What Makes an Investor-Friendly Agent With HGTV’s Lauren Risley Your Financial Pharmacist Disclaimer and Disclosures

Tony Umholtz talks through five steps for getting ready for a home purchase.  Key Points From This Episode Why now is a good time to buy a home. Where you can find out the average interest rates in the home loan industry. Tony explains what discount points are and why you need to understand them.  The importance of reading the fine print.  Know your budget! How lenders determine how much they are going to lend. What the 28/36 rule is.  Tony runs through the pros and cons of a 20% down payment.  How savvy investors look at returns.  Comparing pre-approval and pre-qualification.  The value of a credit report. How lenders work out your credit score, and why this differs from what you will see if you use a monitoring service.  Examples of the different types of lenders that exist.  Information that you will need to provide to the lender you choose once you have a property under contract.  Links Mentioned in Today’s Episode Learn More About IBERIABANK/First Horizon’s Pharmacist Home Loan and Start the Pre-Approval Process YFP Planning: Financial Planning for Pharmacists 5 Steps to Getting a Home Loan YFP 216: Common Credit Blunders to Avoid When Buying a Home Freddie Mac Fannie Mae  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®, takes this question from Christine in Austin, Texas: Can I be enrolled in health insurance through my employer and be on my spouse's HSA? Mentioned on the Show: YFP Planning: Financial Planning for Pharmacists YFP 165: The Power of a Health Savings Account Why I'm Not Using My Health Savings Account to Pay for Medical Expenses 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.

HGTV’s Lauren Risley talks about what it means to be an investor-friendly agent, the role of your agent when investing in real estate, and the ideal investor client.  Key Points From This Episode Lauren shares how her love of real estate started at just 19 years old.  What makes an agent investor-friendly, and what makes a great investment client! Finding the ”why“, so that you can build a strategy together. Developing confidence as an investor, which only comes from experience and being coachable. The pressure of having to make fast decisions in this insane market right now.  Having a great team behind you. The slippery slope of advising someone versus telling them what to do.  Asking the right questions, and never skipping your due diligence on a property.  Talking SWAG: a sophisticated wild-ass guess. Lauren's complete rehab of each property: spending now to avoid spending more later. Why your ”why“ and your strategy will probably change over time, and that's okay! Lauren shares her Call the Closer experience, including all the nerves and excitement. How time-blocking is key to success! Reaching out to people who are successful in whatever you're trying to learn.  Some top-notch advice for pharmacists jumping into real estate! Links Mentioned in Today’s Episode YFP Real Estate Concierge Service HGTV: Call the Closer  St. Louis Realtors Missouri Realtors National Association of Realtors BiggerPockets YFP Real Estate Investing Join the YFP Real Estate Investing Facebook Group Your Financial Pharmacist Disclaimer and Disclosures

Bhavik Shah talks about his debt-free journey, his early missteps, and how he used his experience to further the financial literacy education of other pharmacists. Key Points From This Episode An introduction to today’s guest, Bhavik Shah. Bhavik’s academic background and why he chose a career in pharmacy and teaching. The money scripts Bhavik was raised with and how they impacted his mindset. How he graduated with $80,000 of student debt and paid it off in just six years. Why he considers it a mistake not to have taken advantage of Roth contributions to get tax-free growth. What Bhavik means by emphasizing being your own steward, and what motivated this. How he learned the importance of understanding the basics before hiring a professional. Financial education and literacy and why it is important.  What motivated Bhavik to create his course on financial literacy. Bhavik’s thoughts on whether a personal finance piece should be included in the PharmD program. Resources he has found helpful, including the White Coat Investor and the Money Guy. How student debt deters people from pursuing postgraduate education. The role of financial education in preventing this barrier. Links Mentioned in Today’s Episode YFP Planning: Financial Planning for Pharmacists Book a Free Discovery Call with YFP Planning GoodRx: Nominate Your Favorite Pharmacy Professional YFP 044: How to Determine Your Life Insurance Needs YFP 045: How to Determine Your Disability Insurance Needs Why Most Pharmacists Should Do A Backdoor Roth IRA YFP 096: How to do a Backdoor Roth IRA Policygenius Accreditation Council for Pharmacy Education Join APhA - Get 25% Off Your Membership with Code: YFP The White Coat Investor Blog The White Coat Investor's Financial Boot Camp: A 12-Step High-Yield Guide to Bring Your Finances Up to Speed by James M. Dahle Your Financial Pharmacist The Money Guy Show The Money Guy Podcast The Money Guy Financial Order of Operations Course 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®, takes this question from Kim in Columbus, Ohio: How do I find an HSA with low fees and good investment options? Mentioned on the Show: YFP Planning: Financial Planning for Pharmacists United States Office of Personnel Management Best Health Savings Account (HSA) Providers Lively: The Modern Health Savings Account HealthSavings Administrators HSA Bank Fidelity HSA YFP 225: How to Navigate Open Enrollment and Employer Benefits YFP 165: The Power of a Health Savings Account Why I'm Not Using My Health Savings Account to Pay for Medical Expenses 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.

Managed care pharmacist Mariah Pierce shares her real estate story detailing her house-hacking experience and how she gets paid to live in her home with short-term room rentals.  Key Points From This Episode Mariah’s educational background and the work she is currently doing. The lifelong dream Mariah had of owning her own home.  What has driven Mariah’s interest in personal finance. Money that Mariah saved while subleasing a property for seven months in college. The property Mariah bought with her savings and her experience of house-hacking it. How much she put down on the house and how much her rooms cost to rent out on Airbnb. Mariah’s monthly payment on her mortgage. The benefits of short-term rentals. What Mariah learned from her first travel nurse guest. How she made her rooms stand out from the other Airbnb listings available in the area. Where she found a lot of the furniture for her house. Hear about Mariah’s approach to risk. The future plans that she has for her real estate investment career.  Two books that have influenced Mariah’s life choices: Mindset and Brave Not Perfect. Mariah’s advice for anyone thinking of taking the leap into real estate.  Links Mentioned in Today’s Episode YFP Real Estate Investing 10: Getting Started Through House Hacking YFP Real Estate Concierge Service The Your Financial Pharmacist Podcast Learn More About IBERIABANK/First Horizon’s Pharmacist Home Loan and Start the Pre-Approval Process Facebook Marketplace Mindset: The New Psychology of Success by Carol S. Dweck Brave, Not Perfect: How Celebrating Imperfection Helps You Live Your Best, Most Joyful Life by Reshma Saujani Connect with Mariah Pierce on LinkedIn YFP Real Estate Investing Join the YFP Real Estate Investing Facebook Group

Entrepreneur and pharmacist, Chris Cozzolino, talks about his journey building several businesses as a recent graduate.  Key Points From This Episode Chris shares what drew him into the profession, and the freedom of remote working.  Reflecting on Chris's non-traditional career path, and building something impactful. How social media is a fascinating concept of reaching so many people at once.  How making money in a video game as a teenager galvanized his entrepreneurial spirit. Discussing the big barriers to starting a business, like upfront capital and inventory holding times.  Optimization through combining drop shipping and retail arbitrage. Chris outlines the challenges and opportunities of not working on your platform.  Having the best of both worlds by making the brand bigger than the platform.  Diversifying across platforms to build community and then converting that traffic. How Uptown Creation was founded, and key pivots in their journey. Learning the Instagram algorithm and their specific social media marketing tactics. Chris shares about his pivot to LinkedIn and what the clients and services entail.  Building authentic relationships and a trustworthy reputation.  Why creating content is still really new for the healthcare sector.  Where Chris sees Uptown Creation heading in the next few years. The concept of developing your craft, and always being able to be close to the ground. Always keeping your endpoint in mind. Links Mentioned in Today’s Episode Connect with Chris Cozzolino on LinkedIn Register for the Free Webinar: How to Pursue FIRE as a Pharmacist on November 10 at 8:30 PM ET FIRE Rx: The Pharmacist’s Guide to Financial Independence by Jeff Keimer, PharmD Create a Comprehensive Estate Plan with Thoughtful Wills The War of Art: Break Through the Blocks and Win Your Inner Creative Battles by Steven Pressfield Turning Pro: Tap Your Inner Power and Create Your Life's Work by Steven Pressfield Your Financial Pharmacist Uptown Creation Smart Passive Income Podcast with Pat Flynn ZDoggMD Gain Traction on LinkedIn: Chris Cozzolino, PharmD, co-founder Uptown Creation The Uptown Update Newsletter Gary Vaynerchuk Email Chris Cozzolino: chris@uptowncreation.com Your Financial Pharmacist Disclaimer and Disclosures

Kirby Atwell discusses real estate investing with intentionality, aligning your personal and real estate goals. Mentioned on the Show Living Off Rentals Podcast VA Homeless Programs - HUD-VASH Eligibility Green Vet Homes National Real Estate Investors Association Traction: Get a Grip on Your Business by Gino Wickman Living Off Rentals Watch the Webinar: 3 Main Steps to Buying and Setting Up a High Cash Flowing Vacation Rental YFP Real Estate Investing Join the YFP Real Estate Investing Facebook Group Your Financial Pharmacist Disclaimer and Disclosures