Scripted Wealth | Money & Meaning for Pharmacists

YFP Co-Founder and CEO, Tim Ulbrich, PharmD and YFP Co-Founder and Director of Planning, Tim Baker, CFP®, RLP®, RICP®, wrap up a two-part series on 10 common retirement risks you should plan for.

Mentioned on the Show:

• Free Download: Retirement Roadblocks: Identifying and Managing 10 Common Risks Guide
• YFP Planning: Fee-Only Financial Planning for Pharmacists
• YFP Disclaimer
• Tim Baker on LinkedIn
• Tim Ulbrich on LinkedIn

YFP Co-Founder and CEO, Tim Ulbrich, PharmD and YFP Co-Founder and Director of Planning, Tim Baker, CFP®, RLP®, RICP®, kick off a two-part series on 10 common retirement risks you should plan for.

Mentioned on the Show:

• Free Download: Retirement Roadblocks: Identifying and Managing 10 Common Risks Guide
• First Horizon Home Loan
• Social Security Administration
• Episode 291: Redefining Retirement with Professor Emeritus David Zgarrick, PhD
• Episode 294: 10 Common Social Security Mistakes to Avoid (Part 1)
• Episode 295: 10 Common Social Security Mistakes to Avoid (Part 2)
• Episode 296: 5 Key Decisions for Long-Term Care Insurance
• Episode 242: Social Security 101: History, How it Works, and Why it Matters for Your Financial Plan
• Episode 305: Understanding Annuities: A Primer for Pharmacists
• Huberman Lab Podcast
• Episode 272: How Much Is Enough? (Retirement Planning)
• Episode 273: Alphabet Soup of Retirement Accounts (Retirement Planning)
• Episode 274: Risk Tolerance vs Risk Capacity (Retirement Planning)
• Episode275: How to Build a Retirement Paycheck (Retirement Planning)
• Cameron Huddleston
• Cameron Huddleston on X
• Mom and Dad, We Need to Talk
• Episode 321: Navigating Financial Conversations with Aging Parents
• YFP Planning: Fee-Only Financial Planning for Pharmacists
• YFP Real Estate Investing Facebook Group
• YFP Disclaimer
• Tim Baker on LinkedIn
• Tim Baker on X
• Tim Ulbrich on LinkedIn
• Subscribe to the YFP Newsletter
• YFP Disclaimer

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 [email protected] or record your question at www.yourfinancialpharmacist.com/askyfp

Your Financial Pharmacist Disclaimer and Disclosures: 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. For more information visit https://yourfinancialpharmacist.com/disclaimer/

Summary

Most of our real-estate episodes to date have covered the topic of buying a home, but today we're putting ourselves in the shoes of the seller. If you think this episode isn't for you because you're only interested in buying a home, think again! Being able to see things from a seller's perspective will add huge value to your home-buying journey. Today's guest is Nate Hedrick, a pharmacist, and the founder of Real Estate RPH. It's a seller's market at the moment and he is here to share five top tips for selling your home for its maximum value. From the benefits of enlisting the help of an agent to getting to grips with price-setting strategies and understanding buyer versus seller costs, this conversation will equip you with the tools you need to navigate current chaotic housing market with confidence!

Links Mentioned in Today's Episode

• Nate Hedrick on LinkedIn
• Real Estate RPH
• YFP Episode 316
• Tim Ulbrich on LinkedIn
• Subscribe to the YFP Newsletter
• YFP Disclaimer

Summary

Many pharmacists are detail-oriented, methodical, and risk-averse, so moving quickly isn't generally one of our strong suits. However, being able to think fast and act fast (though not recklessly) are essential in today's real estate market. So, in this episode, we share three strategies that will help you build confidence in your decision-making so that when a good deal comes around, you are ready to take the plunge! Tune in today to hear about the importance of being very clear on the math, understanding the rules of thumb that can help guide your process, and setting your criteria in stone (while still being open to flexibility and creativity).

Links Mentioned in Today's Episode

• Zillow
• MLS
• Your Financial Pharmacist REI
• YFP Real Estate Investing Facebook Group

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 understand how banks decide whether or not to approve a mortgage application, the pros and cons of the various loan options that exist, the difference between preapproval and prequalification, things to look out for when choosing a lender, and more! Buying your first home isn't something to be taken lightly, and Tony's insights will leave you feeling well-equipped to make decisions that are going to serve you well, now and in the future.

About Today's Guest

Tony Umholtz graduated Cum Laude from the University of South Florida with a B.S. in Finance from the Muma College of Business. He then went on to complete his MBA. While at USF, Tony was part of the inaugural football team in 1997. He earned both Academic and AP All-American Honors during his collegiate career. After college, Tony had the opportunity to sign contracts with several NFL teams including the Tennessee Titans, New York Giants, and the New England Patriots. Being active in the community is also important to Tony. He has served or serves as a board member for several charitable and non-profit organizations including board member for the Salvation Army, FCA Tampa Bay, and the USF National Alumni Association. Having orchestrated over $1.1 billion in lending volume during his career, Tony has consistently been ranked as one of the top mortgage loan officers in the industry by the Scotsman's Guide, Mortgage Executive magazine, and Mortgage Originator magazine.

Links Mentioned in Today's Episode

• Tony Umholtz on LinkedIn
• Tim Ulbrich on LinkedIn
• First Horizon Bank
• First Horizon's Pharmacist Home Loan
• Fannie Mae
• Freddie Mac
• Federal Housing Administration
• YFP Disclaimer
• Tim Ulbrich on LinkedIn
• Subscribe to the YFP Newsletter

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 love and respect, and practical strategies to initiate meaningful dialogues. We discover the importance of estate planning documents, ways to involve siblings harmoniously, and the significance of long-term care planning to ensure a secure future for both parents and their adult children. Tune in to gain valuable advice and actionable steps to foster open, productive conversations that empower families to address financial matters and caregiving needs with confidence and compassion.

About Today's Guest

Cameron Huddleston is an author, speaker and award-winning journalist with 20 years of experience writing about personal finance. Her work has appeared in Forbes, Kiplinger's Personal Finance, Chicago Tribune, MSN, Yahoo, and many more print and online publications. She is a mom of three awesome kids and was a caregiver for her own mom, who had Alzheimer's disease. She is the author of Mom and Dad, We Need to Talk: How to Have Essential Conversations With Your Parents About Their Finances.

Links Mentioned in Today's Episode

• Cameron Huddleston Website
• Cameron Huddleston on LinkedIn
• Cameron Huddleston on X
• Cameron Huddleston on Instagram
• Mom and Dad, We Need to Talk
• YFP 161: 5 Key Financial Lessons to Teach Your Kids
• YFP 108: How to Effectively Talk with Mom & Dad About Their Finances
• Episode 222: Why Estate Planning Is Such An Important Part of the Financial Plan
• YFP 296: 5 Key Decisions for Long-Term Care Insurance
• Subscribe to the YFP Newsletter
• YFP Financial Fitness Test
• YFP Disclaimer
• Tim Ulbrich on LinkedIn

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 undergrad to paying off a car alongside her student debt. Stacie touches on how her childhood experiences impacted her approach to financial management as an adult, and reveals how she could sustain the momentum necessary to pay off the debt, before sharing powerful advice for graduates as they choose how to approach their own student debt. In closing, Stacie offers a glimpse into her future plans which are focused on building a net worth through side hustles and real estate investment.

About Today's Guest

Dr. Stacie Moltzan Loescher is a Pharmacist currently working in central processing for Albertsons Companies and is currently appointed as the Assistant Grand Vice President for Collegiate Affairs of the Phi Delta Chi Professional Pharmacy Fraternity. She attended Rosalind Franklin University of Medicine and Science where she received her Doctor of Pharmacy degree in 2017. During her career as a pharmacist, she has worked as Staff Pharmacist and Pharmacy Manager at multiple retailers throughout Wisconsin, Indiana, and Illinois. She has also served in multiple regional and national positions at Phi Delta Chi. She enjoys traveling, fishing, and fitness.

Links Mentioned in Today's Episode

• Stacie Moltzan Loescher on LinkedIn
• Tim Ulbrich on LinkedIn
• YFP Disclaimer
• Subscribe to the YFP Newsletter

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 [email protected] or record your question at www.yourfinancialpharmacist.com/askyfp

Your Financial Pharmacist Disclaimer and Disclosures: 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. For more information visit https://yourfinancialpharmacist.com/disclaimer/

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 estate, as Colin explains, if you're willing to take the plunge and learn the ropes, it will be well worth it! Tune in to this episode to hear about it all, from what the due diligence process in the commercial real estate space looks like, to your financing options to the length of time you can expect to wait before closing a deal. The market may be softer than it has been in recent years, but Colin believes there are still some incredible opportunities out there to pursue.

About Today's Guest

Colin Carr began his real estate career at the age of 19 by managing multi-family apartment complexes in the greater Lansing, Michigan area.

Colin moved to Denver, Colorado in his early twenties and continued in property management, where he managed several mid and high-rise apartment complexes near downtown Denver.

He received his broker's license at 23 and began representing local, regional, and national companies with their commercial real estate needs. Initially, Colin represented both landlords, sellers, tenants, buyers, and investors across a broad spectrum of commercial real estate specialties, including: office, industrial, retail, land, and investment real estate.

After almost a decade of real estate experience that spanned numerous areas of exposure, and with several hundred completed real estate transactions on his resume, Colin was drawn to the Healthcare field and began focusing exclusively on healthcare related transactions. In a short period of time, Colin realized he was having more impact and influence representing healthcare providers while enjoying the results of 'helping people who help people' beyond any area of real estate he had ever been involved in.

Links Mentioned in Today's Episode

• CARR
• CARR on LinkedIn
• CARR on Facebook
• CARR on Instagram
• CARR on YouTube
• YFP Real Estate Investing Website
• YFP Real Estate Investing Facebook Group