Scripted Wealth | Money & Meaning for Pharmacists

Are you measuring your financial success by the wrong metric? In this episode, Tim Ulbrich, PharmD, dives into why income can be misleading and why net worth is the true measure of financial progress.

This episode is brought to you by First Horizon.

Episode Summary

Are you measuring your financial success by income alone? In this episode, Tim Ulbrich shares the wake-up call that changed everything for him: despite earning a six-figure pharmacist salary, his net worth was negative $225,000.

Tim dives into why income is a vanity metric and why tracking net worth is the key to true financial progress. He breaks down the difference between income and net worth, why net worth matters more, and four powerful reasons to make it a monthly habit.

What you'll learn in this episode:

• The wake-up moment that shifted Tim's financial mindset
• Why income alone doesn't reflect real progress
• How tracking net worth builds momentum, clarity, and motivation
• Practical tips for measuring what truly matters

Mentioned on the Show

• Your Financial Pharmacist
• Your Financial Pharmacist on YouTube
• The Millionaire Next Door by Tom Stanley
• Rich Dad Poor Dad by Robert Kiyosaki

Retirement isn't just about the numbers. Tim Ulbrich, PharmD and Tim Baker, CFP® and Registered Life Planner, explore how life planning can help you design a retirement filled with purpose, meaning, and fulfillment, not just financial security.

Episode Summary

When it comes to preparing for retirement, most conversations focus on the financial side—things like income planning, Social Security timing, withdrawal strategies, and tax-efficient investing. But true retirement readiness goes beyond the numbers.

In this episode, Tim Ulbrich, PharmD, is joined by Tim Baker, CFP® and Registered Life Planner, to explore how life planning can help you design a retirement that's rich with meaning, purpose, and fulfillment, not just financial security.

As you step away from decades of work—often after raising kids, building a career, and living within a structured routine—you enter a new phase of life where the biggest challenges aren't just financial, they're personal. Who are you now? What does your ideal day look like? How do you make this season of life one that aligns with your values and brings you joy?

In this episode, you'll learn:

• What life planning is and how it complements financial planning
• How to navigate the personal and emotional transition into retirement
• Practical ways to align your money with your values and goals
• How to create a vision for a fulfilling and purpose-driven retirement

Whether you're approaching retirement or simply thinking ahead, this conversation will help you see how life planning can make the next chapter not only financially sound but deeply satisfying.

Mentioned on the Show

• Your Financial Pharmacist
• Your Financial Pharmacist on YouTube
• YFP 394: Crafting a Rich Life in Retirement: Insights from David Zgarrick, PhD
• Vanguard Study Advisor's Alpha
• Changes in US Family Finances from 2019 to 2022: The Federal Reserve Board of Governors

Is it possible for a pharmacist to save $1M by 40? In this episode, we break down the math, explore money mindsets, and share my journey from –$225K in debt after residency to reaching millionaire status with practical strategies to build wealth.

Episode Summary

In this episode, we tackle one of the most common (and debated) money questions: Is it realistic for a pharmacist to reach $1 million by age 40?

YFP Co-Founder & CEO, Tim Ulbrich, PharmD breaks down the math, explores the mindset shifts that matter most, and shares some of his own story of going from –$225,000 in net worth after residency to crossing the seven-figure mark.

You'll learn:

✅ How to calculate what it actually takes to hit $1M ✅ Why your money beliefs may help or hold you back ✅ Strategies like automating savings, tracking net worth & boosting financial IQ ✅ The importance of "playing financial defense" with debt and expenses

This episode isn't just about hitting a number, it's about what that milestone means for your financial independence, freedom, and peace of mind.

Mentioned on the Show

• YFP Compound Interest Calculator
• The Millionaire Next Door by Dr. Tom Stanley
• Watch the Your Financial Pharmacist Podcast on YouTube
• Learn More About Your Financial Pharmacist

Taking risks with your money, career, or life goals isn't easy, especially if you don't feel secure. In this episode, Tim Ulbrich, PharmD, explores how to build both the financial and emotional foundation you need to step out of survival mode and start taking calculated risks with confidence.

Episode Summary

Without security, it can be difficult to take risks. In this episode, YFP Co-Founder & CEO, Tim Ulbrich, PharmD, shares how to build the financial and emotional foundation you need to move past survival mode and take bold, calculated risks

You'll learn:

✅ Why having a financial "floor" is essential before taking risks ✅ How emotional security plays into financial decision-making ✅ Practical steps to create stability so you can pursue opportunities ✅ The balance between playing it safe and going after bold goals

Whether it's investing, starting a new business venture, or chasing a dream, this conversation will help you create the security you need to move forward.

Mentioned on the Show

• Watch the Your Financial Pharmacist Podcast on YouTube
• Learn More About Your Financial Pharmacist

Taking risks with your money, career, or life goals isn’t easy, especially if you don’t feel secure. In this episode, Tim Ulbrich, PharmD, explores how to build both the financial and emotional foundation you need to step out of survival mode and start taking calculated risks with confidence.

Episode Summary

Without security, it can be difficult to take risks. In this episode, YFP Co-Founder & CEO, Tim Ulbrich, PharmD, shares how to build the financial and emotional foundation you need to move past survival mode and take bold, calculated risks

You’ll learn:

✅ Why having a financial “floor” is essential before taking risks ✅ How emotional security plays into financial decision-making ✅ Practical steps to create stability so you can pursue opportunities ✅ The balance between playing it safe and going after bold goals

Whether it’s investing, starting a new business venture, or chasing a dream, this conversation will help you create the security you need to move forward.

Mentioned on the Show

• Watch the Your Financial Pharmacist Podcast on YouTube
• Learn More About Your Financial Pharmacist

Health Savings Accounts (HSAs) are a modest but mighty tool for healthcare and retirement planning with a rare triple-tax advantage. Tim Ulbrich and Tim Baker share 2025 limits, key benefits, and common mistakes pharmacists make.

This episode is brought to you by First Horizon.

Mentioned on the Show

• First Horizon's Pharmacist Home Loan
• YFP Blog: Why I'm Not Using My Health Savings Account to Pay for Medical Expenses
• YFP 165: The power of a Health Savings Account
• Reference: Investment News Barron's
• YFP 124: The Behavioral Investor with Dr. Daniel Crosby
• Your Financial Pharmacist
• Your Financial Pharmacist on YouTube

Episode Summary

Health Savings Accounts (HSAs) are a modest but mighty tool for both healthcare and retirement planning, offering a rare triple-tax advantage: tax-deductible contributions, tax-free growth, and tax-free qualified withdrawals. But despite these benefits, many pharmacists aren't maximizing their HSA—or worse, are making costly mistakes.

In this episode of the Your Financial Pharmacist Podcast, Tim Ulbrich and Tim Baker break down:

✅ What HSAs are, how they work, and 2025 contribution limits ✅ Why HSAs can serve as a "stealth" retirement account ✅ Common mistakes like non-qualified expenses and poor record-keeping ✅ How to choose the right HSA provider and designate beneficiaries ✅ Tips for investing your HSA funds for long-term growth

Whether you're just starting out with your HSA or looking to fully optimize this powerful account, this episode is packed with insights to help you avoid pitfalls and maximize your benefits.

Tim Ulbrich and Tim Baker tackle one of the most common questions we hear from pharmacists: "Do I need this whole life insurance policy?" They dive into who needs coverage, common misconceptions, and why the "buy term and invest the difference" strategy may be the smarter approach.

This episode is brought to you by APhA.

Episode Summary

YFP Co-Founder & CEO, Tim Ulbrich, PharmD, and YFP Co-Founder & COO, Tim Baker, CFP®, RLP®, RICP®, tackle one of the most common questions we hear from pharmacists: "Do I need this whole life insurance policy?"

We've seen an increasing number of pharmacists with expensive whole life insurance policies that are often complex, costly, and not always the best fit. In this video, Tim and Tim break down:

✅ Who actually needs life insurance (and who doesn't)

✅ The role life insurance should play in your financial plan

✅ The key differences between term life and whole life coverage

✅ Why "buy term and invest the difference" can often be the smarter strategy

✅ The conflicts of interest that sometimes drive whole life sales

By the end, you'll better understand the benefits, costs, and misconceptions around whole life insurance so you can make an informed decision about what's right for your financial future.

Mentioned on the Show

• Join APhA - Get 25% Off with Code YFP
• Life Insurance for Pharmacists: The Ultimate Guide
• Your Financial Pharmacist
• Your Financial Pharmacist on YouTube

Asking for and getting a raise can make a significant difference in your financial plan for years to come. In this episode, Tim Ulbrich walks through a five-step playbook with practical tips and strategies to help you confidently ask for and get the raise you deserve.

Episode Summary

Asking for and getting a raise can make a massive difference in your financial plan, not just today, but for years and even decades to come.

For many pharmacists, the thought of walking into their boss's office and asking for more money can feel as unpleasant as getting a cavity filled. It's uncomfortable, awkward, and full of "what ifs": What if they say no? What if I ruin the relationship? What if they think I'm being greedy?

The truth is, most people never get a big raise for one simple reason: they never ask. And that "ask" isn't just about adding dollars to your paycheck. It's about building confidence and advocating for the value you bring to your role.

In this episode, YFP Co-Founder & CEO, Tim Ulbrich, PharmD, breaks down a five-step playbook with practical examples, real-world negotiation tips, and a few favorite strategies from Chris Voss's Never Split the Difference. Whether you're aiming for your first raise or looking to boost your income long term, this episode gives you the tools to confidently ask for and actually get the raise you deserve.

Mentioned on the Show

• YFP YouTube Channel
• YFP 384: Beyond Salary: Negotiating Your Value in the Workplace
• Never Split the Difference by Chris Voss
• Your Financial Pharmacist

In this special episode, Tim Ulbrich introduces the winners of the YFP Gives scholarship. Deja Preusser, Zipporah Williams, Michaela Martin-Worley, Julia Miller, and Mildred Asamoah share their inspiring stories, showcasing the drive, resilience, and vision of the next generation of pharmacy leaders.

Episode Summary

YFP Co-Founder & CEO, Tim Ulbrich, PharmD introduces the five recipients of the 2025 YFP Gives Scholarship. These inspiring stories reflect the passion, perseverance, and leadership of the next generation of pharmacy professionals.

The 2025 YFP Gives scholarship winners are Deja Preusser, Zipporah Williams, Michaela Martin-Worley, Julia Miller, and Mildred Asamoah.

Now in its second year, the YFP Gives Scholarship provides each winner with a $1,000 scholarship, 1-year access to YFP+, a copy of Seven Figure Pharmacist, and a 1:1 Ask Me Anything session with Tim Ulbrich or Tim Baker.

Mentioned on the Show

• YFP YouTube Channel
• YFP Gives
• Your Financial Pharmacist

Buying a home can feel overwhelming, especially for pharmacists facing student loans, rising rents, and high interest rates. Tony Umholtz, mortgage loan officer at First Horizon, shares a realistic path to homeownership, even in today's challenging real estate environment.

This episode is brought to you by First Horizon.

Episode Summary

Buying a home as a first-time buyer in today's market can feel overwhelming, especially for pharmacists juggling student loans, high rents, and rising interest rates.

In this episode of the Your Financial Pharmacist Podcast, Tim Ulbrich is joined by Tony Umholtz, mortgage loan officer with First Horizon Bank, to share a realistic path to homeownership, even in today's challenging real estate environment.

You'll learn:

✅ How today's lending environment impacts first-time buyers ✅ The role student loan repayment changes play in qualifying for a mortgage ✅ Strategies to make homeownership more attainable for pharmacists ✅ Why the door to buying a home may be more open than you think

Whether you're planning to buy in the next few months or just starting to explore your options, this conversation will help you feel informed, empowered, and ready to take your next step toward owning a home.

About Today's Guest

Tony Umholtz is the Senior VP of Mortgage Banking at First Horizon. He 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.

Mentioned on the Show

• YFP YouTube Channel
• YFP 416: Student Loan Changes: Key Takeaways from the Big Beautiful Bill
• Learn More About First Horizon's Pharmacist Home Loan
• Your Financial Pharmacist