Scripted Wealth | Money & Meaning for Pharmacists

Summary If you're a first-time home buyer, this episode is for you! This week's episode, sponsored by FirstHorizon , features Tony Umholtz, a mortgage loan officer at First Horizon Bank with over 20 years of experience in the industry, and he is here to share important factors that you should be taking into consideration before purchasing your first property. By the end of the episode, you will un...

Summary Money talk isn't always easy to initiate, but in some cases it's essential. Today, we are joined by award-winning journalist and author of Mom and Dad, We Need to Talk, Cameron Huddleston, to discuss the often-overlooked topic of navigating financial conversations and decisions with aging parents. Cameron shares key insights into why these discussions are crucial, how to approach them with...

Summary Stacie Moltzan Loescher, PharmD paid off $345 000 of student loan debt in just five years and she joins us today to share her incredible journey to becoming debt-free! Tuning in, you'll hear about the hard work and clear vision that led Stacie to the financial freedom she enjoys today. We unpack her process to aggressively repaying her loans, from working throughout pharmacy school and und...

Welcome to Ask a YFP CFP®, a segment of the Your Financial Pharmacist Podcast! On today's show Tim Baker, CFP®, RLP®, RICP®, takes a question from an individual in the YFP Facebook Group. Submit Your Question:  Have a question you would like us to feature on an upcoming episode? Send us an email at info@yourfinancialpharmacist.com or record your question at www.yourfinancialpharmacist.com/askyfp  ...

Summary Colin Carr got into real estate investing at the age of 18 and his approach of honing in on a very specific niche has served him well. His company, CARR, currently operates in over 45 states, and has helped more than 4,200 healthcare providers or practices across the country to close commercial real estate deals. Although commercial real estate is more complicated than residential real est...

Summary Today's edition of our Pharmacy Innovators series is filled with vital information for pharmacy entrepreneurs on how to expertly navigate the risks involved with leaving the W2 world behind. In today's episode, host Dr. Corrie Sanders sits down with the Founder of Perfecting Peds, Dr. Jena Quinn, PharmD, BCPPS, to discuss Jena's transition from working 9-5 to running her own consulting bus...

YFP Director of Tax, Sean Richards, CPA, EA digs into what midyear tax projections are, why they matter, and specific examples where a midyear projection can help someone optimize their financial situation. We discuss the importance of adjusting withholdings, ensuring record keeping is up to date, common pitfalls business owners and side hustlers can avoid with a projection and tax considerations...

Episode Summary Welcome to our seventh installment of the case study series with Tim Baker, CFP®, RLP®, Kelly Reddy-Heffner, CFP®, CSLP®, CDFA®, and Angel Melgoza, MS CFP®. During this episode, we are sharing a fictitious case study with you about an engaged couple in their 20s. We delve into their finances, expenses, and their goals before discussing their assets, savings, investments, liabilitie...

Summary Are you looking to make a shift in your investing, but you've come upon some questions that you're looking for advice on? On this episode, we welcome back Mariah Pierce, PharmD, who reached out to us with a few questions as she prepares to make a shift in her investing. We talk about her new prospective investment options, and we dive into a quick explanation of the FHA 203K loan. We then...

Summary Buying a home can be a daunting, exciting, and overwhelming experience. On this weeks podcast, sponsored by Real Estate RPh , we are joined by Neal and Kaitie Fox to discuss how they went about buying their first home. Neal is a pharmacist and Kaitie is a stay-at-home mom, and in this episode, they tell us what made them decide to buy a house when they did, what they would say to someone w...

About Today's Guest Rachel Cruze is a two-time #1 national best-selling author, financial expert, and host of The Rachel Cruze Show. Since 2010, Rachel has served at Ramsey Solutions, where she teaches people to avoid debt, save money, budget, and how to win with money at any stage in life. She's authored three best-selling books, including her latest, Know Yourself, Know Your Money: Discover WHY...

Welcome to Ask a YFP CFP®, a segment of the Your Financial Pharmacist Podcast! On today's show Tim Baker, CFP®, RLP®, RICP®, takes a question from Sarah in the YFP Facebook Group who asks about considerations with kids 529 accounts in the midst of a divorce. Mentioned on the Show: YFP Episode 211: The Ins and Outs of the 529 College Savings Plan 7 Things to Consider Before Starting a 529 Plan YFP...

Episode Summary No matter where you are in your career journey, it's never too early to start optimizing your retirement plan. One important factor to consider when building your retirement paycheck is Required Minimum Distributions (RMDs). RMDs refer to the minimum amount that you must withdraw from certain retirement accounts each year after reaching a certain age. On this week's episode, YFP's...

Summary Venturing into real estate is often a carefully formulated plan backed by a healthy savings account. But as today's guest has proven through his real estate journey, sometimes it's best to jump straight in with both feet! Khoa Nguyen is a pharmacist and real estate investor from Vietnam who has now settled in Oklahoma City as the Founder, CEO, and Managing Partner of KNN Capital Partners....

Episode Summary Financial planners often get a bad reputation because people either don't trust them or they feel like planners are a waste of time — they could be doing the job themselves. So on today's episode, sponsored by First Horizon , YFP's Co-founder & Director of Financial Planning, Tim Baker is here to discuss the four reasons why having a financial planner is crucial for managing your i...

Episode Summary Navigating the world of financial advice can be a tricky thing. You're often confronted with baffling jargon, an overwhelming amount of choice, and a lack of transparency, which will typically leave you feeling more confused than when you started. Here to help us unpack these topics today is YFP team member, Justin Woods, PharmD, MBA who has had over 350 financial conversations wit...

Summary Less than half of parents feel confident in what they are teaching their children about money. Even fewer regularly discuss money with their kids. Julia Myers is a practicing pharmacist and pharmacy leader at the University of Missouri Healthcare. During this episode, sponsored by First Horizon , we discuss how the type of money household you grew up in influences your financial management...

Welcome to Ask a YFP CFP®, a segment of the Your Financial Pharmacist Podcast! On today's show Tim Baker, CFP®, RLP®, RICP®, takes this question from Keith in Ohio: What's the catch with these new savings accounts that have 4%+ APY? Mentioned on the Show: YFP Planning : Financial Planning for Pharmacists Record your questions  here  or send them via email to  info@yourfinancialpharmacist.com Your...

Summary On this episode of YFP Real Estate Investing Podcast, co-hosts David Bright and Nate Hedrick provide a mid-year check on the REI market, including how they are evaluating opportunities and what they are seeing in their own real estate portfolio. They discuss how the 1% rule applies in today's market, considerations for converting your primary residence into a rental, and how future mortgag...

Episode Summary On this week's episode of the YFP Podcast, we tackle getting your estate plan buttoned up. We're joined by Tim Baker, CFP®, RICP®, RLP®, Co-Founder of Your Financial Pharmacist, to talk about estate plan preparations. We go through why it's important to plan your estate, what an estate plan includes, and what happens if you do not have one in place. Tim then shares his thoughts and...

Episode Summary The tax filing deadline is behind us so time to sit back and relax, right?! As YFP Director of Tax, Sean Richards, CPA, EA, tells us today, it's important we are keeping tax front of mind year-round to avoid common blunders that show up during tax filing season. During this episode, Sean outlines ten of the most common mistakes he saw pharmacists make throughout the tax season incl...

Episode Summary If we don't earmark our cash for specific items, we're very likely to spend it. In this YFP Planning Case Study, Tim Baker, CFP®, RLP®, Kelly Reddy-Heffner, CFP®, CSLP®, CDFA®, and Angel Melgoza, MS CFP® use a hypothetical couple (Joe and Jane Script) to discuss balancing retirement savings with a major purchase and education planning. After being provided with an overview of the c...

Summary Danny Mach, PharmD joins the YFP Real Estate Investing Podcast to talk about his journey from purchasing his first single-family home in 2019 to growing his portfolio to include four single-family homes and being a partner in an 11-duplex deal. During this episode, you'll hear about Danny's career track in pharmacy, how and why he got started in real estate investing, and the lessons he ha...

Summary On this episode of The Pharmacy Innovators segment of the YFP podcast, sponsored by  First Horizon , Dr. Izabella Wentz (The Thyroid Pharmacist) joins Dr. Corrie Sanders. Izabella is a pharmacist turned business owner and best-selling author. After being diagnosed with Hashimoto's disease, Izabella took steps to turn her own questions into an answer for others, founding two companies, and...

Episode Summary Investing your money is one thing, but people often overlook the fact that they should also be investing in themselves. An article in the Wall Street Journal in late 2022 suggested that "The Best Investment to Make in 2023 Is in Yourself" and that people should treat their own career development like they do their investment portfolios. To discuss this, we are joined by Erin Albert...