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®, 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 [email protected]
• 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/

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 retirement paycheck through the flooring strategy.

Links Mentioned in Today's Episode

• First Horizon's Pharmacist Home Loan
• LIMRA: 2022 US Retail Annuity Sales Shatter Annual Sales Records Set in 2008
• YFP Episode 275: How to Build a Retirement Paycheck
• YFP Episode 242: Social Security 101: History, How it Works, and Why it Matters
• YFP 294: 10 Common Social Security Mistakes to Avoid
• Immediate Annuities Website
• YFP Planning: Fee-Only Financial Planning for Pharmacists
• YFP Disclaimer
• Tim Baker on LinkedIn
• Tim Baker on Twitter
• Tim Ulbrich on LinkedIn
• Tim Ulbrich on Twitter

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
• Open Door Capital
• Bigger Pockets Podcast
• Brandon Turner
• Apartment Investing Podcast
• Range
• Episode 26 Senate Eskridge
• Episode 53 Senate Eskridge
• Episode 24 Savannah Arroyo
• Epiosde 21 Ketan Patel
• Robert Kiyosaki
• Grant Cardone

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 by Gay Hendricks
• Purpose is More Than a Side Hustle by Joe Colavito
• The Redefining Wealth Podcast
• Havalee Johnson
• Havalee Johnson on Instagram
• Havalee Johnson on LinkedIn
• Havalee Johnson on Facebook
• Tim Ulbrich on LinkedIn
• YFP Disclaimer

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 Pharmacist Disclaimer and Disclosures

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
• Schedule a free Discovery Call with YFP Planning
• 5 Steps to Getting a Home Loan
• Apply for the Pharmacist Home Loan
• Your Financial Pharmacist Disclaimer and Disclosures

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 About Money and Investing
• Investing for Kids: How to Save, Invest and Grow Money by Dylin Redling and Allison Tom
• Smart Money Smart Kids - Raising the Next Generation to Win with Money by Dave Ramsey and Rachel Cruze
• The Opposite of Spoiled: Raising Kids Who Are Grounded, Generous, and Smart About Money by Ron Lieber
• Join the Your Financial Pharmacist Facebook Group
• Send in your questions here or to [email protected]
• Your Financial Pharmacist Disclaimer and Disclosures

Disclaimer: 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.

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 Financial Fitness by Dave Ramsey
• EntreLeadership: 20 Years of Practical Business Wisdom from the Trenches by Dave Ramsey
• Everyday Millionaires by Chris Hogan
• Call Josh Schaendorf: (616)402-3998
• Email Josh Schaendorf: [email protected]
• YFP Real Estate Investing
• Join the YFP Real Estate Investing Facebook Group
• Your Financial Pharmacist Disclaimer and Disclosures

Riley Protz, PharmD, MBA, a pharmacist on the FIRE journey since completing pharmacy administration residency training, discusses his career journey, student loan philosophy, and pathway to financial independence while living a rich and fulfilling life.

Links Mentioned in Today's Episode

• YFP Planning: Financial Planning for Pharmacists
• Schedule a free Discovery Call with YFP Planning
• YFP Early Payoff Calculator
• YFP 104: Jason Long's FIRE Journey
• YFP 111: How One New Practitioner is on FIRE
• YFP 134: One Couple's Coast FI Journey
• YFP 147: How One Pharmacist is Turning Tragedy Into Triumph
• YFP 202: How to Teach Your Kids About Money and Investing
• YFP 221: One Pharmacy Entrepreneur's Journey to FIRE
• FIRE Rx: The Pharmacist's Guide to Financial Independence by Jeff Keimer, PharmD
• The FIRE Prescription: How to Retire Early as a Pharmacist
• YFP 188: Playing with FIRE: An Interview with Scott Rieckens
• Die With Zero: Getting All You Can from Your Money and Your Life by Bill Perkins
• YFP Real Estate Investing
• Mad Fientist
• Mr. Money Mustache
• Choose FI Podcast
• The Earn & Invest Podcast
• Afford Anything Podcast
• Your Money or Your Life: 9 Steps to Transforming Your Relationship with Money and Achieving Financial Independence by Vicki Robin and Joe Domingues
• The Simple Path to Wealth: Your road map to financial independence and a rich, free life by JL Collins
• Your Financial Pharmacist Disclaimer and Disclosures

On this episode, YFP Co-Founder & CEO, Tim Ulbrich, PharmD, and YFP Co-Founder & Director of Financial Planning, Tim Baker, CFP®, RLP®, RICP®, celebrate the 300th episode of the Your Financial Pharmacist Podcast! From student loan repayment strategies and investment planning to wealth protection and entrepreneurship, this podcast has strived to provide valuable insights and practical advice to help pharmacists achieve their financial goals each week. Tim and Tim reflect on some of the most memorable moments and guests from the past 299 episodes.

Links Mentioned in Today's Episode

• Join APhA – Get 25% Off Your Membership with Code: YFP
• YFP 001: The Genesis of the Your Financial Pharmacist Podcast
• YFP 031: One Pharmacist's Journey to Paying Off $211k in 26 Months
• Your Financial Pharmacist
• YFP 134: One Couple's Coast FI Journey
• Die With Zero: Getting All You Can from Your Money and Your Life by Bill Perkins
• YFP 227: Why Tim Baker, CFP® Bought a Depreciating Asset
• YFP 215: Know Yourself, Know Your Money with New York Times Bestseller Rachel Cruze
• YFP 289: Building Pricklee with Pharmacy Entrepreneur Kun Yang
• YFP 180: How Allyson Used Her Pharmacy Skills to Build a Natural Skincare Company
• YFP 194: How Karine Used Her Pharmacy Skills to Create a Successful Healthy Dessert Business
• YFP 293: Employee to Entrepreneur with Dr. Victoria Reinhartz
• YFP 217: How Kelley Used Her Clinical Expertise to Build a Business
• YFP 276: Why Giving, Philanthropy, and Serving Are Core Parts of This Pharmacist's Financial Plan
• YFP 297: Introducing The Pharmacy Innovators with Corrie Sanders of Huna Health
• Send in your ideas and guest suggestions to: [email protected]
• Your Financial Pharmacist Disclaimer and Disclosures