Scripted Wealth | Money & Meaning for Pharmacists

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...

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 Daphne in Madison, Wisconsin: How can I best prepare for an unexpected major health challenge? Mentioned on the Show: YFP Planning : Financial Planning for Pharmacists Record your questions here or send them via email to info@yourfinancialpharmacist....

In over 300 episodes of Your Financial Pharmacist, we haven't covered much about annuities and today, Tim Baker, CFP®, RICP®, RLP® joins Tim Ulbrich, PharmD to do just that. On this episode, sponsored by First Horizon , you'll hear all about what annuities are, the main types and how they differ, common misunderstandings, fees associated with annuities, and how they can assist with building a reti...

Alex Cartwright, PhD, an associate professor of economics and managing partner at Vilicus Capital, discusses strategies for navigating today's real estate market, why he is making a move toward syndication, and why clenching onto tools won't necessarily help you get to where you want to go.  Links Mentioned in Today's Episode: Alex Cartwright on LinkedIn Alex Cartwright on Twitter Vilicus Capital...

Havalee Johnson, pharmacist and Founder of Immigrant PharmAssist, shares how and why she made the move from Jamaica to Canada, how her business helps immigrant pharmacists transition into their careers in Canada, and her business goals. Links Mentioned in Today's Episode YFP Planning: Fee-Only Financial Planning for Pharmacists John Assaraf Dr. Lauren Castle on LinkedIn   Tim Ferris   The Big Leap...

Dr. Donisha Lewis talks about her debt-free journey, why and how she got involved in real estate investing, and how she and her husband got on the same page to achieve their financial goals.  Links Mentioned in Today's Episode YFP Planning: Financial Planning for Pharmacists Schedule a free Discovery Call with YFP Planning YFP Budget Spreadsheet   Mint YNAB YFP Real Estate Investing Your Financial...

Tony Umholtz talks about navigating the mortgage market, important factors home buyers should understand when evaluating lending options, the anatomy of a home loan, and when to engage with a lender in the home-buying process.  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...

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 Melanie in Orlando, FL: What investment options do I have for my child outside of a 529 account? Mentioned on the Show : YFP Planning: Financial Planning for Pharmacists Schedule a free Discovery Call with YFP Planning YFP 202: How to Teach Your Kids...

Josh Schaendorf, an experienced loan officer, shares insight and updates on lending options available to pharmacist real estate investors.   Links Mentioned in Today's Episode Findabroker.com Ramsey Solutions Ninja Selling: Subtle Skills. Big Results. by Larry Kendall Financial Peace: Restoring Financial Hope to You and Your Family by Dave Ramsey The Total Money Makeover: A Proven Plan for Financi...