Your Financial Pharmacist

Estate planning attorneys, Notesong Thomson and Nathan Kavlie, discuss estate planning and its importance in the financial plan. Mentioned on the Show Create a Comprehensive Estate Plan with Thoughtful Wills Delivering Happiness: A Path to Profits, Passion, and Purpose by Tony Hsieh YFP 108: How to Effectively Talk with Mom & Dad About Their Finances

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 Lucas in Louisville, Kentucky: How can I maximize the tax benefits of donor advised funds? Mentioned on the Show: YFP Planning: Financial Planning for Pharmacists XY Planning Network Fidelity Charitable Vanguard Charitable Schwab Charitable Send in your questions here or to info@yourfinancialpharmacist.com 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.

Samantha Odem shares her real estate story, how she got into flipping, and the mindset that keeps her going. Mentioned on the Show YFP Real Estate Investing 03: Running the Rental Numbers with Blake and Zac YFP Real Estate Concierge Service Email Samantha Odem: samu24sd@yahoo.com Join the YFP Real Estate Investing Facebook Group YFP Real Estate Investing

Michelle Lamb discusses her journey towards achieving FIRE (Financial Independence, Retire Early). Mentioned on the Show Create a Comprehensive Estate Plan with Thoughtful Wills Order Your Copy of FIRE Rx: The Pharmacist's Guide to Financial Independence by Jeff Keimer, PharmD and Get 10% Off With Code: INVESTRX YFP 188: Playing with FIRE: An Interview with Scott Rieckens Playing with FIRE: How Far Would You Go for Financial Freedom by Scott Rieckens How Much You Need to Hang Up Your Coat: All About the Four Percent Rule How to Save Half of Your Income The FIRE Prescription: How to Retire Early as a Pharmacist Dave Ramsey The Ramsey Show Mr. Money Mustache Early Retirement in One Lesson (or How I Retired at 30) YFP Planning: Financial Planning for Pharmacists The 4-Hour Work Week: Escape the 9-5, Live Anywhere and Join the New Rich by Timothy Ferriss Playing with FIRE: The Documentary LTC Pharmacist Connection Facebook Group Pharmacist Moms Group (PhMG) Facebook Group The Stacking Benjamins Podcast Afford Anything: Build a Better Life with Paula Pant The Simple Path to Wealth: Your road map to financial independence and a rich, free life by J.L. Collins Connect with Michelle M. Lamb, PharmD on LinkedIn

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 Andrea in Olathe, Kansas: What can I do about the fees on my HSA account? Mentioned on the Show: YFP Planning: Financial Planning for Pharmacists Lively TD Ameritrade 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 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 discuss off-market real estate purchasing. Mentioned on the Show Join the YFP Real Estate Investing Facebook Group BiggerPockets YFP Real Estate Investing 13: The Power of Partnerships National Real Estate Investors Association: Find a REIA YFP Real Estate Investing 08: Ten Terms for Today's Market YFP Real Estate Investing

Kelly Reddy-Heffner talks about how those with student loans should be calculating their next moves considering the most recent extension of the administrative forbearance through January 2022. Mentioned on the Show Learn More About Our 1:1 Student Loan Analysis with a CFP® YFP Planning: Financial Planning for Pharmacists Register for the Free Webinar: Side Hustling: Extra Ways to Make Money as a Pharmacist The Happy PharmD YFP 187: How to Maximize Your Student Loan Strategy While Federal Student Loan Payments are Paused Coronavirus Aid, Relief, and Economic Security Act (CARES Act) Federal Student Aid AnnualCreditReport.com Get a Free Copy of the YFP Budget Template YFP 214: How Anna Got $127k Forgiven Through PSLF Federal Student Aid: PSLF Help Tool with EIN Search Schedule Your Student Loan Analysis Appointment Send in your questions here or to info@yourfinancialpharmacist.com

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 the YFP Facebook Group: Is there such a thing as a financial advisor that doesn't have a stake in another company? Mentioned on the Show: YFP Planning: Financial Planning for Pharmacists Join the YFP Facebook Group Nuts and Bolts to Hiring a Financial Planner Schedule a free Discovery Call with YFP Planning Send in your questions here or to info@yourfinancialpharmacist.com 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.

Ketan Patel discusses mindset and an overview of syndication in real estate. Episode Summary Even though it is the cornerstone to success, mindset is often overlooked. We do not realize how much our limiting beliefs are holding us back from getting started in real estate or taking the next step. Ketan Patel, a pharmacist, turned full-time real estate investor and High-Performance Real Estate Coach, looks to help his clients overcome the thoughts that hold them back so that they can flourish. In this episode, we hear about Ketan's journey from pharmacy to real estate, where he talks about why we need to reframe risk. Ketan explains how individuals struggling with mindset can overcome those obstacles and shares insight for building confidence in real estate investing. Rather than thinking about what we might lose, if we consider what we can gain, taking bold action becomes easier. Ketan shares the innovative way he funded his first deal, and he also talks about multifamily syndication, a great way to passively invest in real estate. The conversation touches on the power of mindset, where Ketan offers insights into how he's worked on his. Ketan shares the value of being grateful for what you have and why you have to find joy beyond the numbers. Ketan truly embodies the idea that mindset matters. Key Points From This Episode Get to know today's guest, Ketan Patel. Hear details about Ketan's pharmacy journey and his subsequent transition into real estate. How Ketan moved into real estate; it wasn't all at once. Insights into Ketan's first deal and the creative way he managed to get funds for it. Why Ketan believes that there is no such thing as a risk: you always win something. How mindset influences your outlook and frames the way you see things. Typical roadblocks Ketan that helps his clients overcome. At some point, you have to ask yourself why you are truly not making the decision to jump into real estate. Where Ketan's first deal opportunity came from. Confidence comes after action, not the other way around. A look at what syndication is, how this structure works, and the partners involved in deals. Who can participate in syndication and whether or not you need to be an accredited investor. What Ketan is currently working toward; it's more than just the numbers. Finding the balance between wanting more and living in the moment. Final questions to end the show. Highlights "I realized that with real estate, you have a lot of flexibility. You could do a flip, you could partner with someone, invest passively, you could buy a small rental, you don't have to quit your job day one." — Ketan Patel [0:06:45] "It doesn't really matter what business you do and what your strategies are. At the end of the day, the thoughts, the beliefs, the emotions you have, they determine so much about your success and things like that. Instead of just focusing on the knowledge, the technical aspects, they are important, but they're not as important." — Ketan Patel [0:10:12] "You can't postpone happiness and joy and everything for the future. I got to start living it now regardless if I have that or not." — Ketan Patel [0:30:15] "We [pharmacists] don't give ourselves credit of what's really possible for us." — Ketan Patel [0:32:44] Links Mentioned in Today's Episode Join the YFP Real Estate Investing Facebook Group Ketan Patel Coaching: Results Coaching Mukhi Capital The Complete Guide to Buying and Selling Apartment Buildings by Steve Berges Ketan Patel Coaching Ketan Patel Coaching: Capital Raising Pro Apply for a Results Coaching Session with Ketan YFP Real Estate Investing

Alex Barker talks about why pharmacists should negotiate their salary and benefits, benefits of negotiation, and 2 negotiation tips. Mentioned on the Show YFP Planning: Financial Planning for Pharmacists Book a free Discovery Call with YFP Planning Get Your Free Copy of A Pharmacist's Guide to Salary and Benefit Negotiation by Email: support@thehappypharmd.com YFP 205: Current State of the Pharmacy Job Market U.S. Bureau of Labor Statistics, Occupational Outlook Handbook: Pharmacists Join the YFP Facebook Group The Happy PharmD Glassdoor Indeed Mercer Salary Surveys & Pay Data Never Split the Difference: Negotiating as if Your Life Depended on It by Chris Voss YFP 166: Why Negotiation is an Important Part of Your Financial Plan