Scripted Wealth | Money & Meaning for Pharmacists

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  inf...

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 atta...

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...

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 Di...

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-app...

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 sh...

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...

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 introdu...

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...

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 Michelle in Walkerton, Indiana: Where should I invest if my income is too high for a Roth and I'm maxing out my 401(k)? Mentioned on the Show : YFP Planning: Financial Planning for Pharmacists Schedule a free Discovery Call with YFP Planning YFP 096: How to...

Nate Hedrick and David Bright discuss case studies in this week's deep dive into investment property renovations.  Key Points From This Episode Recapping the last episode's main points. A brief background on David's property including location, rent, and how he found it.  Nate updates us on a tricky point-of-sale inspection required by the community. Talking structural safety and Nate's big unknow...

Derek Borkowski, PharmD, founder and CEO of Cosmas Health and creator of the Pyrls app, talks about how and why he built the Pyrls app, what problem he was trying to solve, and some of the challenges he faced in the early days of being an entrepreneur.  Key Points From This Episode Introducing today's guest, Derek Borkowski, and what drew him into this profession. Hear about the moment he realized...

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 Tyler in Iowa City, Iowa: How many investment options should I have in my portfolio? Mentioned on the Show : YFP Planning: Financial Planning for Pharmacists Schedule a free Discovery Call with YFP Planning The Simple Path to Wealth: Your road map to financi...

Nate Hedrick and David Bright deep dive into three key factors to take into consideration when renovating your investment properties. Key Points From This Episode Why you don't always have to spend thousands of dollars on a rehab. The first foundational factor of running a rehab: structural safety for your tenants. A parallel between clinical and building guidelines to ensure safety. Why the roof...

YFP Co-Founder & Director of Financial Planning, Tim Baker, CFP®, RLP®, talks about social security retirement benefits, how they are funded, how to determine eligibility and considerations for receiving benefits. Key Points From This Episode An introduction to today's topic and a reminder that we can help you with your tax. Addressing why people aren't having enough conversations about social sec...

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 Dalton in West Des Moines, Iowa: Does my side hustle income get treated any differently than my W-2 income? Mentioned on the Show : YFP Planning: Financial Planning for Pharmacists YFP 048: Mo Money Mo Problems: Making the Financial Transition to New Practitioner...

Jenny and Myke White share their experience of purchasing a new home and transitioning their former primary residence to a rental property.  Key Points From This Episode Myke and Jenny update us on what they've been up to with their new primary residence. Talking about their decision to keep their old house as a rental and why it was a good fit. Walking us through the numbers of payments, cash-flo...

David Bright and Nate Hedrick talk through five common objections to getting started in real estate investing. Key Points From This Episode An introduction to today's guests, hosts of the YFP Real Estate Investing Podcast, David Bright and Nate Hedrick. Addressing Objection number 1: I don't have enough time!  Why hiring a property manager saves you money and saves you time. The second common obje...

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 Jonathan in Southern California: Should I sell assets from my brokerage accounts to fund real estate investment properties? Mentioned on the Show : YFP Planning: Financial Planning for Pharmacists YFP Real Estate Investing Podcast YFP Real Estate Investing Downlo...

Tanh Truong discusses the differences and similarities between the residential and commercial real estate spaces and why he purchased a five million dollar strip mall. Key Points From This Episode An introduction to today's guest, Tanh Truong, and his five million dollar investment. The building's location, size, tenants, and price. How he discovered the deal on a poorly marketed website. The two...

Dr. DeLon Canterbury recounts how early setbacks motivated him to start a business in the middle of a pandemic and how his personal 'why' shaped the work he is doing to help solve the problem of mismanaged medications in the senior population. Key Points From This Episode How DeLon's love of medicine was inspired by his mother's expertise in herbology. What moved him to get his Board Certified Ger...

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 Nicole in Cincinnati, Ohio: Are computer-managed investments better than an individual managing your account? Mentioned on the Show : YFP Planning: Financial Planning for Pharmacists YFP 075: DIY, Robo or Hire a Planner? Create a Comprehensive Estate Plan with Th...

Nate Hedrick and David Bright discuss how to determine your repair and capital expense budget for your properties and how these two budget lines can make or break your investment. Key Points From This Episode A reminder to keep repairs and capital expenditures separate when budgeting. Defining the two categories and some example issues of each. Some different theories and approaches, and the advan...

Tim Baker talks through two I's that you might be overlooking as it relates to your financial plan: inflation and I-Bonds. Key Points From This Episode Kicking off with inflation; what the term actually means and why it's the current hot topic. Breaking down the inflation statistics and how it's affecting your buying power over time.  Encouraging the listener to start by listening to Ask a YFP CFP...

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 Andrew in Cincinnati, Ohio: Should I use a 15-year or 30-year mortgage when buying or refinancing a home? Mentioned on the Show : YFP Planning: Financial Planning for Pharmacists Homebuying Resources Send in your questions  here  or to  info@ yourfinancialpharmac...