Scripted Wealth | Money & Meaning for Pharmacists

Key Points From This Episode

• Background on Kim's professional journey to becoming a CFP®.
• What inspired her to pursue a career in financial planning.
• We find out about the work that Kim is currently involved with at YFP Planning.
• Why the YFP team believe so much in the CFP® designation.
• Some examples of how comprehensive the CFP® training is.
• How working with a certified CFP® is beneficial for the client.
• Kim tells us what is required to enter the CFP® course.
• What people taking the CFP® board exam can expect.
• Learn about the experience requirement needed after passing the exam.
• The expected ethical standards once you are certified.
• Differences in the types of CFP® planners in terms of fees and services.
• A brief breakdown of the different fee structures associated with CFP® planners.
• Examples of good questions to ask a financial planner to ensure they are the right fit for you.
• Kim shares a success story about working with a CFP®.

Links Mentioned in Today's Episode

• YFP Planning: Financial Planning for Pharmacists
• Schedule a free Discovery Call with YFP Planning
• Refinance Your Student Loans with Splash Financial
• YFP 248: How 3 Pharmacists Had $700,000 of Student Loans Forgiven
• Retirement Plans: Last Week Tonight with John Oliver (HBO)
• Download the Free Guide - Nuts & Bolts to Hiring a Financial Planner
• YFP 054: Why Fee-Only Financial Planning Matters
• YFP Planning: Why YFP?
• 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® takes this question from Megan in Columbus, OH: Should we pay off our student loans now or wait to see if the Biden Administration forgives any loans?

Mentioned on the Show:

• YFP Planning: Financial Planning for Pharmacists
• Schedule a free Discovery Call with YFP Planning
• YFP 248: How 3 Pharmacists Had $700,000 of Student Loans Forgiven
• Learn More About Our 1:1 Student Loan Analysis with a CFP®
• 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.

Key Points From This Episode

• We find out Drew's professional background as a pharmacist.
• Drew explains his journey investing in real estate.
• A brief breakdown of Drew's current property portfolio.
• An example of the after-hours effort that Drew has put into his properties.
• Reasons why Drew focuses on single-family homes for his portfolio.
• Drew shares his approach to real estate and finding the right property to buy.
• A simple tip for people considering investing in real estate for the first time.
• The best type of property that Drew considers for his portfolio.
• Why typical property investors are not interested in the properties that Drew buys.
• The advantages of Drew's contracting background for real estate investing.
• How Drew is able to finance his extensive portfolio.
• The importance of trust in forming a healthy and effective partnership.
• Advice for people that are nervous about their first property.
• Outline of Drew's day-to-day operations and his future plans.
• Drew explains his old-school approach to tenant screening and turn over.

Links Mentioned on Today's Episode

• David Goggins
• 12 Rules for Life: An Antidote to Chaos by Jordan B. Peterson
• Connect with Drew Stahl on LinkedIn
• YFP Real Estate Investing
• Join the YFP Real Estate Investing Facebook Group
• Your Financial Pharmacist Disclaimer and Disclosures

YFP Co-Founder & CEO, Tim Ulbrich, PharmD, welcomes back to the show Ashlee Klevens Hayes & Chris Cozzolino, two pharmacists and entrepreneurs. Together, they discuss the new book Ashlee and Chris have co-authored: 'Own Your PharmD, Own Your Career: Real Life Advice from 50+ Pharmacy Leaders and Influencers.'

Key Points From This Episode

• Introduction and a brief background about today's guests.
• The motivation behind Ashlee's and Chris's decision to write a book.
• What Chris's and Ashlee's overall goal of writing a book was.
• A brief discussion about the importance of networking to become successful.
• Examples of lessons learned while writing and interviewing people for the book.
• Importance of soft skills to becoming a successful pharmacist.
• How finding measures of success for different seasons of your career is important.
• Common traits Chris and Ashlee noticed hold back people from reaching their full potential.
• Where limiting thoughts come from for pharmacists.
• Strategies that Chris uses to ensure that he is enjoying his current career path.
• Where Chris learned how important enjoying the process is.
• Ashlee explains the importance of mindset and how you see opportunities.
• Chris tells us about his decision to self-publish as opposed to working with a publisher.
• What Ashlee has enjoyed the most from the book writing process.

Links Mentioned in Today's Episode

• Own Your PharmD, Own Your Career: Real Life Advice from 50+ Pharmacy Leaders and Influencers by Ashlee Klevens Hayes and Chris Cozzolino
• YFP Planning: Financial Planning for Pharmacists
• Schedule a free Discovery Call with YFP Planning
• Insuring Income: Get Quotes and Apply for Term Life and Disability Insurance
• YFP 095: Level Up Your Career: An Interview with RxAshlee
• YFP 228: Why This New Practitioner Decided to Start His Own Business
• Uptown Creation
• RxAshlee
• Influential Dad, Empowered Daughter by Ashlee Klevens Hayes
• 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® takes this question from D'Yana in Atlanta, GA: How risky should I be with my investments at age 34?

Mentioned on the Show:

• YFP Planning: Financial Planning for Pharmacists
• Schedule a free Discovery Call with YFP Planning
• 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.

Key Points From This Episode

• Nate and David discuss the current trends in the market.
• Reasons for difficulties experienced with inventory currently.
• Peace of mind working with a realtor can give you.
• How having a great team does not always protect from inventory shortages.
• Setting criteria and being able to adapt to the changing market.
• Aspects to consider when setting your criteria for property investing.
• What to consider upfront regarding the rental market.
• Benefits of setting specific criteria for your potential investment.
• Giving everyone on your team a veto option.
• Importance of being practical and pragmatic when investing in real estate.
• The type of real estate to avoid for investment purposes.
• Why you should not cheat the match when deciding on an investment.

Links Mentioned on Today's Episode

• YFP Real Estate Concierge Service
• YFP Real Estate Investing
• Find an Investor-Friendly Agent
• Book Your Jump Start Planning Meeting
• YFP Real Estate Investing 52: Six Considerations for Making an Offer and Getting the Deal
• YFP Real Estate Investing 47: 5 Things to Know Before Walking a House with Your Realtor
• Join the YFP Real Estate Investing Facebook Group
• Your Financial Pharmacist Disclaimer and Disclosures

Nate Hedrick, The Real Estate RPh, and co-host of the YFP Real Estate Investing Podcast, discusses evaluating online home listings, why open houses exist, how real estate agents get paid, and how the home buying concierge service he developed can help first-time homebuyers.

Key Points From This Episode

• The resources that prospective buyers can use to search for homes.
• Nate gives us an outline of the Multiple Listing Service (MLS).
• What to look out for when viewing listings.
• Being able to react quickly to the market to secure a purchase.
• Steps to take when viewing a property listing.
• The purpose of signing in when viewing a house
• What to do when asked about an agent.
• Advice on what to do when making an offer.
• Rules and regulations regarding listing and buying agents.
• The benefits of using a real estate agent when home buying.
• A brief rundown of the YFP Real Estate Concierge Service.
• Some of the challenges that first-time homebuyers are experiencing.
• The best time to start the home buying process.

Links Mentioned in Today's Episode

• Real Estate RPh
• YFP Real Estate Investing Podcast
• YFP Real Estate Concierge Service
• Multiple Listing Service (MLS)
• Redfin
• Zillow
• Realtor.com
• YFP Planning: Financial Planning for Pharmacists
• Schedule a free Discovery Call with YFP Planning
• Three Strategies for Buying a House with Student Loans
• YFP 160: Navigating the Home Buying Process Through the YFP Concierge Service
• YFP 064: 6 Steps to Home Buying (Part 1)
• YFP 065: 6 Steps to Home Buying (Part 2)
• YFP Real Estate Investing
• Find an Investor-Friendly Agent
• Book Your Jump Start Planning Meeting
• 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® takes this question from James in Bellingham, WA: What is an Exchange Traded Fund (ETF) and how does it compare to a mutual fund?

Mentioned on the Show:

• YFP Planning: Financial Planning for Pharmacists
• 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.

Paul Hinckley, PharmD, CSPI, makes his second appearance on the podcast, sharing his most recent rental portfolio growth and best practices for success in partnerships for long-term rental investments.

Key Points From This Episode

• An introduction to Paul Hinckley and his professional background.
• The motivation behind Paul's decision to scale his real estate portfolio.
• How Paul was able to find the real estate investment property he recently purchased.
• The importance of being patient when purchasing a property.
• Paul's strategy for funding real estate purchases.
• Why Paul chose to deviate to a triplex real estate.
• Benefits from investing continually in one area.
• What Paul's pet policy is and how this fills a gap in the market.
• Methods to ensure that inherited tenants will not become a problem.
• Details about Paul's current partnership in real estate investing.
• Peace of mind that comes with working with a partner.
• The agreements to be put in place when working with family and friends.
• The approach that Paul has taken to handle future problems.
• Experience Paul has with single-family home purchases and renovations.
• A brief highlight of the rental market in Paul's investment area.
• Future real estate investment plans that Paul has.
• Advice that Paul has for people looking at forming a partnership.

Links Mentioned on Today's Episode

• YFP Real Estate Investing 16: Starting with Single Family Rentals
• MLS Multiple Listing Service
• BiggerPockets
• YFP Real Estate Investing
• Join the YFP Real Estate Investing Facebook Group
• Your Financial Pharmacist Disclaimer and Disclosures

YFP Co-Founder & Director of Financial Planning, Tim Baker, CFP®, RLP® is joined by YFP Planning Lead Planners, Kelly Reddy-Heffner, CFP®, CSLP®, CDFA®, and Robert Lopez, CFP® to walk you through a financial planning case study on growing a family, paying off student loans, and buying a house.

Key Points From This Episode

• Introducing YFP Lead Planners, Kelly Reddy-Heffner and Robert Lopez.
• Describing the fictitious family of today's case study: Jason and Lauren Jones.
• The Joneses' earnings, expenses, and debt.
• Their goals and concerns.
• How their cash position fits in the context of their goals and debt.
• The question of whether or not to go the PSLF route.
• The tendency to get caught up emotionally without considering the mathematics.
• How the Joneses should tackle the wealth-protection aspect of their financial planning.
• Speculation of whether a whole life policy is necessary.
• The benefits of having one joint credit card per family.
• What the Joneses should consider with regards to the mortgage conversation.
• The power of financial planning.
• The wealth-building opportunities for the Joneses' emergency fund.
• The ideal amount to put aside as an emergency fund.
• Investment options and recommendations.
• How to approach college education funds.
• The future prospects of a supplemental income for the Joneses.

Links Mentioned in Today's Episode

• YFP Planning: Financial Planning for Pharmacists
• Schedule a free Discovery Call with YFP Planning
• Case Study #1 Summary Sheet
• Insuring Income: Get Quotes and Apply for Term Life and Disability Insurance
• YFP 248: How 3 Pharmacists Had $700,000 of Student Loans Forgiven
• Your Financial Pharmacist Disclaimer and Disclosures