PharmD Money

College planning for college bound families can be a big stressor. Deciding on where you want to go to college is tough enough, but figuring out how you're going to pay for it can be extremely overwhelming. 

In this episode, Derek is touches on some of the basics you are going to want to be aware of when it comes time for you to begin your college planning journey. Derek talks about Cost of Attendance, Expected Family Contribution, Financial Aid Need, and more!

Enjoy the Episode!

You can connect with Derek on social media at:

https://twitter.com/derekjdelaney 
https://www.linkedin.com/in/derekdelaneypharmdfp/ 
https://www.facebook.com/PharmD-Financial-Planning-LLC-116600423803050

Or by email at:
[email protected]

Congratulations, you've successfully breached the 30 year threshold! For some, that task was accomplished many years ago and for others, more recently. The decade of your 30s can bring about a lot of change. And that pace of change seems to continue to accelerate. Let's go back 20 years shall we? In the year 2000, NSYNC was the best band on radio, Eminem released his hit single "The Real Slim Shady", and Cribs was the hottest show on MTV! 

Is a flood of memories starting to rush back? Same here. It doesn't seem like it was that long ago but is a great example of how fast time fly's. This is why getting your financial house in order is crucial. Regardless of if you are a newly minted 30 year old or on the backside of 39, there are moves you should be making with your money to help the financial viability of your future self. In this podcast we are going to explore the top 5 money moves to make in your 30's because before you know it, Nickelback will be consider classic rock!

Enjoy the episode!

You can connect with Derek on social media at:

https://twitter.com/derekjdelaney 
https://www.linkedin.com/in/derekdelaneypharmdfp/ 
https://www.facebook.com/PharmD-Financial-Planning-LLC-116600423803050

Or by email at:
[email protected]

In most of us, there is a seed of doubt that lives within us all that keeps us from taking the necessary steps to accomplish great things. This is called Imposter Syndrome. It can create so much  anxiety and tentativeness inside of us that we end up becoming completely immobile. We freeze and stop the progress of everything we've done up to that point.

Imposter Syndrome comes in all shapes and sizes. Financial imposter syndrome is specifically the seed of doubt around our financial wellbeing. Managing it properly and continuously improving it over the course of our lives can make a huge positive difference.

In this episode, Derek will discuss:
    -What is financial imposter syndrome
    -How to manage financial imposter syndrome
    -How you can tell if it's getting better in your life

Enjoy the Episode!

You can connect with Derek on social media at:

https://twitter.com/derekjdelaney 
https://www.linkedin.com/in/derekdelaneypharmdfp/ 
https://www.facebook.com/PharmD-Financial-Planning-LLC-116600423803050

Or by email at:
[email protected]

Upon graduation, you have the many options to peruse when it comes time to paying back your student loans. Two common avenues are to refinance via private loans or to do a direct loan consolidation. Each of these two options comes with their own set of pros and cons.

In this episode, Derek will explain how both of these options work. What the benefits of each are and the rules of each that you need to be aware of. Student debt is both a necessity and a headache. Understanding the different ways to minimize your student loan debt load can make a lot less painful.

Enjoy the episode!

You can connect with Derek on social media at:

https://twitter.com/derekjdelaney 
https://www.linkedin.com/in/derekdelaneypharmdfp/ 
https://www.facebook.com/PharmD-Financial-Planning-LLC-116600423803050

Or by email at:
[email protected]

One of the biggest debates in the financial services world is which investment management style is more effective. Active or Passive? Each investment management style comes with their own set of pros and cons, so it's important to really understand the differences. Because in the end, your personal circumstance and goals will dictate which option is best  for you.

In this episode Derek will explore the positives and negatives of each. That way when it comes time to figure out which option is best for you, you can tackle the decision fully armed with a well rounded understand of how each of these investment management styles work.

Enjoy the episode!

You can connect with Derek on social media at:

https://twitter.com/derekjdelaney 
https://www.linkedin.com/in/derekdelaneypharmdfp/ 
https://www.facebook.com/PharmD-Financial-Planning-LLC-116600423803050

Or by email at:
[email protected]

Are you starting to get burned out in your traditional pharmacist role? Have you gotten to the point in your career where you feel that you can better use all the skill, knowledge, and experience  you've accumulated as a pharmacist doing something different?

Many pharmacist have taken this path and it has led them into the world of entrepreneurship. Starting you own business can be extremely rewarding and emotionally liberating. But it takes a significant amount of work.

Starting a business will require pharmacists to make decisions and navigate situations they may not have ever experienced before. So in this episode, Derek will talk about important considerations most new entrepreneur's will have to deal with as they begin to build their own business.

Enjoy the episode!

You can connect with Derek on social media at:

https://twitter.com/derekjdelaney 
https://www.linkedin.com/in/derekdelaneypharmdfp/ 
https://www.facebook.com/PharmD-Financial-Planning-LLC-116600423803050

Or by email at:
[email protected]

It can get complicated for consumers to determine how much a financial advisor is getting paid. It can even get complicated for some financial advisors to discern how much they will be paid. There are compensation grids, bonuses, and compensation accelerators that can kick on at any time.

This hard to understand advisor compensation can create a big problem.  It makes it more difficult for consumers to determine if the value they are getting from their advisor is worth the money they are paying, directly or indirectly.

So, in this podcast episode, Derek will walk through the four main ways most advisors get paid. This will help you determine how much your advisor is being compensated so you can start fairly identifying if your getting your "money's worth".
- Commissionable Compensation
-Assets Under Management (AUM) Compensation
-Flat Fee Compensation
-Hourly Compensation

Enjoy the episode!

You can contact Derek on Social Media at:

https://twitter.com/derekjdelaney 
https://www.linkedin.com/in/derekdelaneypharmdfp/ 
https://www.facebook.com/PharmD-Financial-Planning-LLC-116600423803050

Or by email at:
[email protected]

Many consumers who hire financial advisors may think that these advisors have the legal, moral, and ethical obligation to put their interests ahead of everything else when it comes to delivering financial and investment advice. I think it would be shocking to a lot of these same people when they learn that the large majority of financial advisors don't abide by that kind of obligation.

Many financial advisors are not considered true fiduciaries. They don't have the requirement to put their client's best interests ahead of there own at all times. This can create tremendous amounts of conflict of interest.  This conflict can directly affect the quality and appropriateness of the advice and guidance you receive. 

So in this episode, Derek walks you through:
- What a true fiduciary financial advisor is
- What standards a broker/financial advisor must uphold
- Examples of a broker relationship and a fiduciary relationship
- How to uncover if a financial advisor is a fiduciary
- What to do if you are not working with a fiduciary advisor

Enjoy the episode!

You can contact Derek on Social Media at:

https://twitter.com/derekjdelaney 
https://www.linkedin.com/in/derekdelaneypharmdfp/ 
https://www.facebook.com/PharmD-Financial-Planning-LLC-116600423803050

Or by email at:
[email protected]

We live in a social world. It has created a way for people to share about all sorts of stuff. This information that people are producing can range from simple tasks to complex strategies. There is no shortage of financial advice that gets shared across social media platforms as well.

However, some of this information is dangerous because of the lack of understanding of the topics that are being presented. Most of the time it's individuals who are sharing totally made up information and positioning it as fact. Because money is a complex subject, a lot of people can't tell the difference.  

So, in this episode, Derek will break down four of the most egregious pieces of financial advice that he has come across on social media lately. Hopefully this will help you avoid a big financial misstep, or even worse, committing and unknown crime. 

Enjoy the episode!

You can connect with Derek on social media at:
 
https://twitter.com/derekjdelaney 
https://www.linkedin.com/in/derekdelaneypharmdfp/ 
https://www.facebook.com/PharmD-Financial-Planning-LLC-116600423803050

Or by email at:
[email protected]

It's no secret that pharmacists get paid well. They should. They have accumulated an immense level of education and knowledge in a field that is extremely impactful to our communities. But it's no secret that pay within the industry is changing. So what does that mean for new grads just entering the profession and more tenured mid-career professionals who still have another 20 - 30 years left in their career?

In this episode, Derek gives and outsiders opinion on what he thinks is going on and how he thinks it will affect the long term outlook of the profession. Derek also gives his 3 predictions for the biggest changes he sees happening to the industry in the next 10 years.

Enjoy the Episode!

Episode Sources:

UofM College of Pharmacy website: §  https://www.pharmacy.umn.edu/degrees-and-programs/doctor-pharmacy

Nerdwallet Article:  https://www.nerdwallet.com/article/loans/student-loans/average-pharmacist-student-loan-debt

Career Explorer Salary Breakdown: §  https://www.careerexplorer.com/careers/pharmacist/salary/

Drug Topics Article: o   https://www.drugtopics.com/view/top-10-best-states-be-pharmacist-2019?page=2

You can contact Derek on Social Media at:

https://twitter.com/derekjdelaney 
https://www.linkedin.com/in/derekdelaneypharmdfp/ 
https://www.facebook.com/PharmD-Financial-Planning-LLC-116600423803050

Or by email at:
[email protected]