Scripted Wealth | Money & Meaning for Pharmacists

Tim Baker, YFP co-founder and Director of Financial Planning, talks about his journey becoming a financial planner. He discusses why all financial planning is not created equal, how and why YFP Planning services differ from traditional firms, and the importance of fee-only, fiduciary, and comprehensive distinctions.

Mentioned on the Show:

• YFP Planning - Comprehensive Fee-Only Financial Planning for Pharmacists
• YFP 015: Financial Planning Series: Interview w/ Tim Baker (West Point to CFP®)
• XY Planning Network
• YFP Concierge Service
• Book a Free Discovery Call with YFP Planning

Welcome to Ask a YFP CFP®, a segment of the Your Financial Pharmacist Podcast! On today's show Tim Baker, CFP®, takes this question from Frank in Bonita Springs, Florida: What happens if I contribute beyond the maximum annual limits to a 401(k) or IRA?

Mentioned on the Show:

• YFP Planning
• Seven Figure Pharmacist by Tim Church, PharmD and Tim Ulbrich, PharmD
• YFP 072: Investing Mind Tricks: How Behavioral Bias Affects Our Decisions
• YFP 073: How to Determine the Priority of Investing
• YFP 074: Evaluating Your 401(k) Plan
• YFP 075: DIY, Robo or Hire a Planner?
• YFP 076: Investing Rapid Fire Q&A
• Book a Discovery Call with YFP Planning
• Send in your questions here or to [email protected]

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.

Allyson Brennan, founder and owner of Emogene & Co., a natural skincare company, joins Tim Ulbrich on the show. Allyson talks about her background in pharmacy, why and how she started Emogene & Co., how she has had success in such a short period of time, and what lies ahead as she prepares for growth in 2021 and beyond.

Mentioned on the Show:

• YFP Planning: Financial Planning for Pharmacists
• Adam Martin, The Fit Pharmacist
• Your Financial Pharmacist
• Emogene & Co. Natural Skincare
• Follow Emogene & Co. on Instagram: @__emogeneandco__
• Connect with Emogene & Co. on Facebook

Welcome to Ask a YFP CFP®, a segment of the Your Financial Pharmacist Podcast! On today's show Tim Baker, CFP®, takes this question from Sierra in Portland, Oregon: Should I contribute to both traditional and Roth retirement accounts?

Mentioned on the Show:

• YFP Planning
• YFP 072: Investing Mind Tricks: How Behavioral Bias Affects Our Decisions
• YFP 073: How to Determine the Priority of Investing
• YFP 074: Evaluating Your 401(k) Plan
• YFP 075: DIY, Robo or Hire a Planner?
• YFP 076: Investing Q&A
• Send in your questions here or to [email protected]

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.

Happy Thanksgiving from the team at Your Financial Pharmacist!

Welcome to Ask a YFP CFP®, a segment of the Your Financial Pharmacist Podcast! On today's show Tim Baker, CFP®, takes this question from Quynh-Tram in Carlsbad, California: What is a competitive equity stake or stock option to ask for at a start-up company?

Mentioned on the Show:

• YFP Planning
• Holloway: Typical Employee Equity Levels
• Angel: Startup Salary and Equity
• Send in your questions here or to [email protected]

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.

Pharmacists Josh and Kara Soppe join Tim Ulbrich to share their journey of paying off $188,000 of student loan debt in 28 months. Josh and Kara dig into why they chose to aggressively tackle their student loans, their strategy for paying them off, how they created and implemented a budget, and their plans are now that their student loans are paid in full.

Mentioned on the Show

• YFP Planning: Financial Planning for Pharmacists
• Connect with Tim Ulbrich on LinkedIn
• Refinance Your Student Loans
• Mint
• The Pharmacist's Guide to Conquering Student Loans by Tim Church, PharmD

Welcome to Ask a YFP CFP®, a segment of the Your Financial Pharmacist Podcast! On today's show Tim Baker, CFP®, takes this question from Brittany in Bardstown, Kentucky: What should I do with my old 401(k) accounts?

Mentioned on the Show:

• YFP Planning
• Send in your questions here or to [email protected]

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.

Nate Hedrick, the Real Estate RPH, joins Tim Ulbrich to recap the 5 lessons he learned from his first real estate investment flip. Nate digs into how he found the deal, how he ran the numbers, what went well and what didn't and how he sees real estate investing fitting into his financial plan.

Mentioned on the Show

• YFP Concierge Service
• YFP 160: Navigating the Home Buying Process Through the YFP Concierge Service
• Real Estate RPh
• 5 Lessons I Learned Flipping My First House
• Rich Dad, Poor Dad: What the Rich Teach Their Kids About Money that the Poor and Middle Class Do Not! by Robert T. Kiyosaki
• Long Distance Real Estate Investing: How to Buy, Rehab, and Manage Out-of-State Rental Properties by David Greene
• BiggerPockets
• BiggerPockets Podcast
• YFP Financial Planning
• Schedule a Free 30 Minute Call with Nate Hedrick
• Connect with Nate Hedrick on Facebook
• Follow Nate Hedrick on Instagram: @realestaterph
• Connect with Nate Hedrick on LinkedIn
• YFP Facebook Group

Welcome to Ask a YFP CFP®, a segment of the Your Financial Pharmacist Podcast! On today's show Tim Baker, CFP®, takes this question from Caitlynn in Omaha, Nebraska: Can I switch between the PAYE and REPAYE plans to minimize interest accruing for non-PSLF forgiveness?

Mentioned on the Show:

• YFP Planning
• The Pharmacist's Guide to Conquering Student Loans: How to Confidently Choose the Best Strategy that Saves You the Most Money by Tim Church, PharmD
• Send in your questions here or to [email protected]

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.