Scripted Wealth | Money & Meaning for Pharmacists

What should you do with an old 401(k)? Tim Ulbrich and Tim Baker explore your options, common pitfalls, rollover strategies, and how to make smart moves with old retirement accounts after leaving a job.

Summary

When you leave a job, what happens to the retirement account you left behind? In this episode, YFP Co-Founder & CEO, Tim Ulbrich, PharmD, and YFP Co-Founder & COO, Tim Baker, CFP®, RLP®, RICP®, take a deep dive into the important financial decisions surrounding old employer-sponsored retirement plans, such as 401(k)s and 403(b)s.

Tim and Tim discuss the impact these often-overlooked accounts can have on your overall financial plan and explore your available options, whether that's leaving the money in your former employer's plan, rolling it over to your new employer's plan, or transferring it to an IRA.

They break down the pros and cons of each approach, highlight common mistakes like the "set it and forget it" trap, and explain why understanding fees and account access is so important. The conversation also emphasizes the value of working with a fiduciary advisor and the serious risks of cashing out these accounts too soon.

To complement the episode, they introduce YFP's new guide: The Best and Worst Moves to Make with an Old 401(k), designed to help you avoid costly missteps and feel confident in your next move.

Whether you're changing jobs, planning ahead for a career transition, or simply want to be more intentional about your retirement savings, this episode will give you the clarity and guidance you need.

Mentioned on the Show

• First Horizon's Pharmacist Home Loan
• Your Financial Pharmacist
• YFP Guide: Best & Worst Moves to Make With an Old 401(k)
• FIRE Rx: The Pharmacist's Guide to Financial Independence
• YFP Episode 404: 5 Key Questions to Ask Before Hiring a Financial Planner
• Reference: 2024 Kitces Report on Financial Planning

Quynh and Tri Vu, two professionals who transitioned from pharmacy and IT careers into real estate, share their journey into investing in raw, vacant land and building Secure Land Co.

Summary

Quynh and Tri Vu, two professionals who transitioned from pharmacy and IT careers into real estate, share their journey into investing in raw, vacant land in this episode of the YFP Real Estate Investing Podcast.

Joined by hosts Nate Hedrick, PharmD, and David Bright, PharmD, Quynh and Tri walk through their early steps in real estate, starting with single-family rentals and moving into the world of short-term rentals like Airbnbs. As their experience grew, so did their ambition, leading them to explore diverse markets and ultimately carve out a niche in the often-overlooked space of raw, vacant land.

They break down what makes land investing unique, detailing the due diligence required, the creative value-add strategies they use, and how they evaluate properties with potential. Along the way, they also share how they balanced their demanding careers while building a real estate portfolio, leaned on community and mentorship, and eventually took the leap into full-time investing through their business, Secure Land Co.

Whether you're just getting started or looking to diversify your real estate strategy, this episode offers valuable insights, encouragement, and practical advice from two people who made the leap and never looked back.

Mentioned in Today's Episode

• • Your Financial Pharmacist
  • Secure Land Co Website
  • Secure Land Co Instagram
  • Secure Land Co YouTube
  • YFP on Instagram
  • YFP Facebook Group

Tim Ulbrich and Tim Baker answer two questions from the YFP community on using 529 funds for student loans and the most cost-efficient ways to invest in digital assets like Bitcoin.

In this episode, YFP Co-Founder & CEO Tim Ulbrich, PharmD, is joined by YFP Co-Founder & COO Tim Baker, CFP®, RLP®, RICP®, to answer two insightful financial questions from the YFP community.

First, they explore whether it makes sense to use 529 plan funds to pay off student loans. Tim and Tim break down the relevant provisions of the SECURE Act, highlight key limitations and tax implications, and discuss scenarios where this strategy could be beneficial—or not.

Next, they tackle a question about buying Bitcoin efficiently. They compare the most cost-efficient ways to invest, including using various platforms, ETFs, and tax-advantaged accounts like IRAs. They also weigh the pros and cons of each approach, including fee structures, accessibility, and long-term considerations.

Whether you're considering how to best use your 529 funds or exploring your first steps into cryptocurrency, this episode provides practical, pharmacist-specific guidance to help you make informed financial decisions.

• YFP 368: How Much is Enough for Kids' College?
• YFP 211: The Ins and Outs of the 529 College Savings Plan
• YFP 404: 5 Key Questions to Ask Before Hiring a Financial Planner
• YFP 386: Cryptocurrency & Digital Assets: Definitions, Origins, and Risks
• YFP 387: Cryptocurrency & Digital Assets: Investment Considerations and Tax Implications

Should you pay off your mortgage early? YFP Co-Founder & CEO, Tim Ulbrich, PharmD unpacks the math, emotions, and big-picture factors in the mortgage payoff debate—plus 5 reasons when it may or may not make sense to pay extra on your mortgage.

Should you pay off your mortgage early? It's a question that comes up often in personal finance—and the answer isn't always as straightforward as the math suggests.

In this episode, YFP Co-Founder and CEO Tim Ulbrich, PharmD, unpacks the numbers, the emotions, and the bigger picture behind this important decision. Using a real-life example and the YFP Early Payoff Calculator, Tim walks through how even small extra payments can shave years off your loan term and save you thousands in interest.

But here's the twist: despite the financial benefits, Tim has personally decided not to pay off his mortgage early. He shares his thought process along with five compelling reasons why making extra mortgage payments might make sense for others.

Whether you're deep into your mortgage or just getting started, this episode will help you evaluate your options and make a decision that aligns with your long-term goals.

Mentioned in Today's Episode

• • YFP Early Payoff Calculator
  • YFP YouTube Channel
  • YFP Book a Discovery Call
  • YFP Disclaimer
  • Subscribe to the YFP Newsletter
  • Tim Ulbrich on LinkedIn
  • YFP on Instagram
  • YFP Facebook Group

How do you turn your retirement savings into a reliable paycheck? In this episode, YFP Co-Founder & CEO, Tim Ulbrich, PharmD, and YFP Co-Founder & COO, Tim Baker, CFP®, RLP®, RICP®, break down three common strategies for building a retirement paycheck — including how each works, who they're best for, and the pros and cons to consider.

Summary

Together, they break down how each approach works, who they're best suited for, and the pros and cons you should consider. You'll also hear insights on the emotional and psychological shifts that come with leaving behind a steady paycheck and the importance of building flexibility into your retirement plan.

Whether you're approaching retirement or just starting to think about your long-term goals, this episode will help you better understand how to create an income stream from your hard-earned assets.

📅 Ready to work one-on-one with a fee-only financial planner? Schedule a free discovery call at yourfinancialpharmacist.com to learn how our team can help.

Mentioned on the Show

• YFP Episode 189: Options for Investing When You're Maxing Out Your Retirement Accounts
• YFP Episode 272: How Much is Enough?
• YFP Episode 273: Alphabet Soup of Retirement Accounts
• Die with Zero by Bill Perkins
• YFP Episode 305: Understanding Annuities - A Primer for Pharmacists
• YFP Episode 404: 5 Questions to Ask When Hiring Your Financial Planner
• YFP Blog: How Much You Need to Hang Up Your Coat: All About the 4% Rule
• YFP YouTube Channel
• YFP Book a Discovery Call
• YFP Disclaimer
• Subscribe to the YFP Newsletter
• Tim Ulbrich on LinkedIn
• YFP on Instagram
• YFP Facebook Group
• Tim Baker on LinkedIn

Tim Ulbrich, PharmD, and Tim Baker, CFP®, break down how to find the right financial planner—covering what planners really do, how they're paid, and the questions to ask—so you can move forward with clarity and confidence.

This episode is brought to you by First Horizon.

Summary

Not sure who to trust with your finances—or if you even need a financial planner? In this episode, Tim Ulbrich, PharmD and Tim Baker, CFP® dive into what a great financial planner does beyond providing investment advice, and how they can help you navigate life's financial twists and turns.

Tim and Tim explain the different types of planners, how to spot someone working in your best interest, and the key questions to ask before hiring one. Plus, they break down common fee structures (like AUM, flat-fee, and hourly), the importance of the CFP® designation, and how to evaluate the return on your planning relationship.

Whether you're hiring a planner for the first time, reevaluating your current setup, or just exploring what's out there, this episode will give you the clarity and confidence to take the next step.

Mentioned on the Show

• YFP Nuts & Bolts Guide to Hire a Financial Planner
• Retirement Plans: Last Week Tonight with John Oliver
• Kitces Report on How Financial Planners Actually Do Financial Planning
• Broker Check
• YFP ADV
• The Investment Funds Institute of Canada. Financial Advice in Canada, November 2022.
• Vanguard: Putting a value on your value: Quantifying Vanguard Advisor's Alpha®
• The Index Revolution by Charles Ellis
• Unshakeable by Tony Robbins
• The Behavioral Investor by Tony Robbins
• YFP YouTube Channel
• YFP Book a Discovery Call
• YFP Disclaimer
• Subscribe to the YFP Newsletter
• Tim Ulbrich on LinkedIn
• YFP on Instagram
• YFP Facebook Group
• Tim Baker on LinkedIn

Tim Ulbrich, PharmD, reflects on losing over $100,000 during recent market volatility and shares eight powerful, experience-driven lessons from two decades of investing to help listeners navigate the emotional and practical realities of building wealth.

This episode is brought to you by APhA.

Summary

In this episode, Tim Ulbrich, PharmD gets personal and shares how he lost over $110,000 in just five days.

Despite his professional background in personal finance, Tim candidly shares how challenging it was to write those numbers down—highlighting just how emotional and disorienting the recent market volatility can feel, even for seasoned investors.

Drawing on two decades of investing experience, Tim unpacks eight key lessons that go beyond theory. These aren't just ideas from a textbook or strategies he's shared with clients—they're principles shaped and reinforced by real-life experience. From understanding loss aversion and the importance of diversification to recognizing one's own risk tolerance, this episode offers practical insights for navigating the highs and lows of investing with confidence and resilience.

Mentioned on the Show

• APhA
• The Behavioral Investor by Daniel Crosby
• YFP YouTube Channel
• YFP Book a Discovery Call
• YFP Disclaimer
• Subscribe to the YFP Newsletter
• Tim Ulbrich on LinkedIn
• YFP on Instagram
• YFP Facebook Group

In this episode, Julia Myers, pharmacist and founder of Generational Wisdom, shares her Family Constitution Blueprint, a tool to help families define values, build traditions, and create a lasting legacy. This episode is brought to you by First Horizon.

Summary

In this episode, Tim Ulbrich is joined by Julia Myers, a pharmacist and the founder of Generational Wisdom, a business born out of her own powerful story of transformation. Julia shares her Family Constitution Blueprint, a thoughtful and deeply practical tool that helps families clarify their core values, establish meaningful traditions, and create a vision that lasts for generations.

Julia shares:

• Why identifying your family's values is a powerful first step toward legacy-building

• How to translate your intentions into everyday actions, especially in the midst of busy professional and family life

• And how pharmacists and healthcare professionals can use these principles to create more alignment, connection, and purpose at home

Whether you're raising kids, managing a household, or just want to live with greater intention, this conversation will leave you inspired and equipped to take that next step.

About Today's Guest

Dr. Julia Myers is an international speaker, founder of Generational Wisdom, and a leading authority on teaching families how to talk to kids about money. Julia received her PharmD from University of Wyoming and her MBA from University of Tennessee. She spent nearly two decades as a board-certified pharmacist and distinguished health care executive before a career-ending diagnosis changed the trajectory of her life. Today, she blends wisdom and common sense to help parents navigate the pressures of raising kids without entitlement. As a mom of five, she brings both insight and authenticity to every stage she steps on.

Mentioned on the Show

• YFP 311: Raising Money Savvy Kids Episode 311 - Kids & Money
• Julia Myers
• Julia Myers: Family Constitution Blueprint
• Julia Myers on LinkedIn
• Julia Myers on Instagram
• First Horizon
• YFP YouTube Channel
• YFP Book a Discovery Call
• YFP Disclaimer
• Subscribe to the YFP Newsletter
• Tim Ulbrich on LinkedIn
• YFP on Instagram
• YFP Facebook Group

Attorney Colin Kalvas discusses PACE (Property Assessed Clean Energy) financing, including its origins, mechanisms, and applications for residential and commercial property owners.

Summary

In this episode, Colin Kalvas, a public finance and economic development attorney, joins Nate Hedrick, PharmD and David Bright, PharmD to explore the intricacies of PACE (Property Assessed Clean Energy) financing. They discuss its origins, mechanisms, and applications for both residential and commercial property owners.

About Today's Guest

Colin Kalvas is a public finance and economic development attorney with Bricker Graydon in Columbus, Ohio. Colin serves political subdivisions, financial institutions, developers, and special purpose districts in many different capacities. He represents clients on economic development incentives, public-private partnerships, project financing, municipal bonds, federal income tax law, securities law, contracts, property development, and governmental revenues.

Colin has been at the forefront of developing property assessed clean energy (PACE) financing in Ohio. His PACE efforts include serving as counsel to PACE administrators and energy special improvement districts, as well as serving as bond counsel and capital provider's counsel to entities that finance energy efficiency and clean energy projects through PACE.

He is well known within the national PACE community and regularly speaks at national PACE conferences. He has extensive experience negotiating, documenting and closing PACE transactions, including as part of complex capital stacks. Colin is frequently called upon to advise PACE capital providers of all kinds on transactional best practices and documentation.

Mentioned on the Show

• PACENation
• Connect with Colin Kalvas on LinkedIn
• Email Colin Kalvas: [email protected]
• Your Financial Pharmacist
• YFP on Instagram
• YFP Facebook Group
• YFP YouTube Channel
• Subscribe to the YFP Newsletter
• YFP Disclaimer
• YFP Real Estate Investing Facebook Group
• Nate Hedrick on Instagram
• David Bright on Instagram
• YFP Real Estate Investing Website
• David Bright on LinkedIn
• Nate Hedrick on LinkedIn

Tim Ulbrich and Tim Baker tackle questions from the YFP community on life insurance needs for expectant parents and eligibility for direct Roth IRA contributions.

Summary

On today's episode, YFP Co-Founders Tim Ulbrich, PharmD and Tim Baker, CFP tackle two important questions from the YFP community.

First, they dive into how to project your life insurance needs when welcoming a new baby into the family. Then, Tim and Tim break down how Modified Adjusted Gross Income (MAGI) is calculated to help you determine if you're eligible for direct Roth IRA contributions.

If you have a question you'd like featured on an upcoming episode, visit yourfinancialpharmacist.com/askyfp or email [email protected].

Mentioned on the Show

• Ask YFP a Question
• Email YFP a Question: [email protected]
• Life Insurance for Pharmacists: The Ultimate Guide
• YFP Rx Money Roundup #18: Can I do a backdoor Roth IRA myself?
• YFP YouTube Channel
• YFP Book a Discovery Call
• YFP Disclaimer
• Subscribe to the YFP Newsletter
• Tim Ulbrich on LinkedIn
• Tim Baker on LinkedIn
• YFP on Instagram
• YFP Facebook Group