Scripted Wealth | Money & Meaning for Pharmacists

Tim Ulbrich shares insights from seven financial books that shaped his journey, offering key lessons on saving, spending, mindset, and building wealth.

Summary

In this episode, Tim Ulbrich highlights seven impactful financial books that shaped his journey, including I Will Teach You to Be Rich by Ramit Sethi, Die with Zero by Bill Perkins, and Rich Dad, Poor Dad by Robert Kiyosaki. He shares key takeaways on topics like balancing saving and spending, adopting a wealth-building mindset, and spending for happiness.

Mentioned on the Show

• YFP on YouTube
• YFP 390: Financial Resolutions: Top 5 Moves for Pharmacists in 2025
• I Will Teach You To Be Rich by Ramit Sethi
• Die with Zero by Bill Perkins
• Rich Dad, Poor Dad by Robert Kiyosaki
• Tax Free Wealth by Tom Wheelwright
• The Millionaire Next Door by Dr. Thomas Stanley
• The Next Millionaire Next Door by Dr. Sarah Stanley Fallaw
• The Compound Effect by Darren Hardy
• The Total Money Makeover by Dave Ramsey
• Happy Money: The Science of Happier Spending by Elizabeth Dunn and Michael Norton
• YFP 200: An Interview with Sarah Fallaw of The Next Millionaire Next Door
• YFP Disclaimer
• Subscribe to the YFP Newsletter
• Tim Ulbrich on LinkedIn
• YFP on Instagram
• YFP Facebook Group

Tim Ulbrich, YFP Co-Founder, shares 5 key financial moves to align your goals, enjoy life now, and build a secure future.

Summary

In the first episode of the year, Tim Ulbrich, YFP Co-Founder, dives into strategies for aligning your personal and professional goals to make 2025 your best year yet. He shares five essential financial moves to help you strike the perfect balance between enjoying life today and building a secure future.

Learn actionable tips for setting meaningful financial goals, optimizing your tax planning, organizing your financial documents, automating your savings, and crafting a plan for continuous learning.

Mentioned on the Show

• YFP Podcast: How a Couple Left Their Careers to Travel the World
• YFP Blog: Career Break for Pharmacists: A Practical Guide on Taking a MIni-Retirement
• IRS Form 1040
• YFP Episode 309: Common Tax Blunders Pharmacists Make
• YFP Legacy Folder Checklist
• YFP Disclaimer
• Subscribe to the YFP Newsletter
• Tim Ulbrich on LinkedIn
• YFP on Instagram
• YFP Facebook Group

David Bright and Nate Hedrick share their annual real estate predictions for the year ahead and reflect on trends of 2024.

Summary

Join hosts David Bright, PharmD and Nate Hedrick, PharmD as they close out 2024 with their third annual real estate investing predictions. Reflecting on their past forecasts for the year, they explore why rates and housing prices didn't align with expectations and emphasize the importance of staying adaptable in a shifting market. David and Nate also share their personal investment plans for 2025.

About Today's Guests

Nate Hedrick is full-time pharmacist by day, husband and father by evening and weekend, and real estate agent, investor, and blogger by late night and early morning. He has a passion for staying uncomfortable and is always on the lookout for a new challenge or a project. He found real estate investing in 2016 after his $300,000+ student loan debt lead him to read Rich Dad Poor Dad. This book opened his mind to the possibilities of financial freedom and he has been obsessed ever since. After earning his real estate license in 2017, Nate founded Real Estate RPH as a source for real estate education designed with pharmacists in mind. Since then, he has helped dozens of pharmacists around the country realize their dream of owning a home or starting their investing journey. Nate resides in Cleveland, Ohio with his wife, Kristen, his two daughters Molly and Lucy, and his rescue dog Lexi.

David Bright is a pharmacist with a heart for teaching. He's been a full-time professor since 2009 with a passion for implementing and improving pharmacy services. Themes of "implementing and improving" in the pharmacy space are quite similar to themes of "building and fixing" in real estate, which has been a growing hobby for David and his wife, Heather, who bought their first house more than ten years ago. That fixer-upper house became a live-in house flip, which they sold a few years later, only to repeat the process with their next house. When David and Heather got sick of perpetually living in a construction zone, they pivoted to fixing up rental properties in West Michigan, where they now live.

David invests in real estate as a way to bring greater diversity to financial planning and to fund memorable life experiences with family and friends.

Mentioned on the Show

• YFP Real Estate Investing Website
• Subscribe to the YFP Newsletter
• YFP Disclaimer
• YFP Real Estate Investing Facebook Group
• Nate Hedrick on Instagram
• David Bright on Instagram
• David Bright on LinkedIn
• Nate Hedrick on LinkedIn

Tim Ulbrich, YFP CEO, celebrates over 2 million downloads of the YFP Podcast by sharing some of his favorite episodes and listener stories. He also previews exciting projects ahead in 2025 for YFP.

Summary

In this special year-end episode, host Tim Ulbrich reflects on a milestone year, celebrating over 2 million downloads of the YFP Podcast. He shares powerful listener stories, recaps his top three episodes of 2024—featuring topics like achieving financial success, landing scholarships, and entrepreneurial journeys in pharmacy—and offers a glimpse into what's ahead for 2025.

Plus, don't miss your chance to win a $100 Amazon gift card by submitting your show ideas to [email protected] by January 1st, 2025.

Celebrate with us, and gear up for an inspiring year of growth and success!

Mentioned on the Show

• YFP Podcast 365 - Millionaire Theme Hour: From $0 to Seven Figure Pharmacist
• YFP Podcast 372 - Rising Stars: Meet the YFP Gives Scholarship Winners
• YFP Podcast: 388 - Entrepreneurial Journeys in Pharmacy: Lessons on Growth and Success
• YFP Gives
• YFP Disclaimer
• Subscribe to the YFP Newsletter
• Tim Ulbrich on LinkedIn
• YFP on Instagram
• YFP Facebook Group

Four pharmacist entrepreneurs share their journeys from pharmacy to thriving businesses, offering tips, actionable advice and inspiration.

This episode is brought to you by APhA.

Summary

In this engaging panel discussion, four pharmacist entrepreneurs—Brooke Griffin, Jimmy Pruitt III, Kelley Carlstrom, and Natalie Park—share their unique paths from pharmacy to thriving businesses. Discover how they built their ventures, made strategic decisions, and overcame challenges along the way. Gain practical insights into audience building, pricing strategies, navigating sales, and balancing personal and professional growth.

Whether you're dreaming up a new idea or ready to expand your business, this episode is packed with actionable advice and inspiration to help you take the next step in your entrepreneurial journey.

About Today's Guests

Kelley Carlstrom is the CEO and founder of KelleyCPharmD, an education company that fills the considerable gap in clinical oncology training. She is passionate about democratizing oncology pharmacy education and increasing accessibility and inclusion through her unique L.E.A.R.N Oncology Method.

Brooke Griffin is a pharmacist, professor, keynote speaker, and professional coach. She offers group and 1:1 coaching for pharmacists who are feeling stuck and want clarity on their next steps. She hosts a motivational 5-minute podcast, Today's Bold Idea, and is on this self-discovery journey alongside all of you. She believes everyone deserves a coach!

Dr. Natalie Park is a co-founder and CEO of Pharmesol, an AI pharmacy assistant that automates inbound/outbound calls, messages, and associated workflows such as documentation to save the pharmacy teams time, streamlines operations, and gives 24/7 concierge-like experience for their customers. She is a pharmacist with a passion for leveraging technology and innovation in the pharmacy industry.

Jimmy Pruitt III, PharmD, BCPS, BCCCP, BCEMP, a pharmacist and entrepreneur, earned his Doctor of Pharmacy degree from Presbyterian College and completed residencies at Florida Hospital Orlando and Grady Health System. He founded EMPowerRX Conference and Pharmacy & Acute Care University (PACU) to innovate healthcare education and inspire pharmacists to pursue entrepreneurship. In 2021, he received the Excellence in Diversity award and was named Alumni of the Year at Presbyterian College. Dr. Pruitt is also an Emergency Medicine Clinical Pharmacy Specialist at Atrium Health and hosts the "Pharm So Hard" podcast, aiming to educate and elevate the pharmacy profession.

Mentioned on the Show

• Start by Jon Acuff
• Brooke Griffin on LinkedIn
• Kelley Carlstrom on LinkedIn
• Natalie Park on LinkedIn
• Jimmy Pruitt III on LinkedIn
• YFP Disclaimer
• Subscribe to the YFP Newsletter
• Tim Ulbrich on LinkedIn
• YFP on Instagram
• YFP Facebook Group

Jeff Chheuy, a pharmacist turned real estate investor and content creator, shares his journey and success in real estate investing.

Summary

In this episode, David Bright and Nate Hedrick talk with Jeff Chheuy, a pharmacist turned full-time real estate investor. Jeff shares his journey into real estate investing and emphasizes the importance of finding the right market for short-term rentals, leveraging tools like Rabbu.com for market analysis, and the benefits of using professional design and photography, property management software. Jeff also shares the importance of mentorship and personal finance education.

About Today's Guest

Jeff Chheuy is a real estate investor and content creator focused on helping others achieve financial freedom and live a better life. After pivoting from his career as a pharmacist, Jeff built a portfolio of short-term and long-term rental properties generating over $10,000 per month in rental income. Through his platforms on Instagram and YouTube, Jeff shares insights on real estate investing, personal finance, and self-development, empowering his audience to take control of their financial futures.

Mentioned on the Show

• Jeff Chheuy on Instagram
• Teeco
• Rabbu.com
• 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

In today's episode, we're diving into one of Tim Baker's favorite topics (cue sarcasm and an annoyed face): backdoor Roth IRAs. You've probably heard the term thrown around, but what exactly is a backdoor Roth IRA, and is it something you should consider? More importantly, should you tackle it on your own or leave it to the professionals?

We break down the basics of what a backdoor Roth IRA is, who it might benefit, and the potential pitfalls to watch out for.

Mentioned on the Show:

• Submit a Question to Be Featured on Rx Money Roundup
• YFP Book a Discovery Call: Financial Planning Services
• Subscribe to the YFP Newsletter
• YFP Disclaimer

In part two of their cryptocurrency series, YFP Co-Founders Tim Baker and Tim Ulbrich discuss spot Bitcoin ETFs, the IRS's stance on cryptocurrency, and strategies for incorporating digital assets into long-term portfolios.

This episode is brought to you by First Horizon.

Summary

This week in part two of the series on cryptocurrency and digital assets, YFP Co-Founders Tim Baker, CFP and Tim Ulbrich, PharmD explore the recent introduction of spot Bitcoin ETFs and how they differ from investing directly in Bitcoin. Tim and Tim also discuss the IRS's perspective on cryptocurrency and key considerations for including digital assets in your portfolio as part of a long-term investment strategy.

Mentioned on the Show

• YFP Podcast #386: Cryptocurrency & Digital Assets: Definitions, Origins, and Risks
• First Horizon Pharmacist Home Loan
• YFP Book a Discovery Call
• YFP Disclaimer
• Ask a financial question to YFP
• Subscribe to the YFP Newsletter
• Tim Ulbrich on LinkedIn
• Tim Baker on LinkedIn
• YFP on Instagram
• YFP Facebook Group

In this episode, YFP Co-Founders Tim Baker and Tim Ulbrich break down the intricacies of 401(k) loans, explaining how they function, how interest is calculated, and the key factors to consider when determining if they're a smart financial decision.

Mentioned on the Show:

• Submit a Question to Be Featured on Rx Money Roundup
• YFP Book a Discovery Call: Financial Planning Services
• Subscribe to the YFP Newsletter
• YFP Disclaimer

Naeem Farokhnia, an engineer-turned-real estate investor and CEO of TheSFPropertyManagement Inc, shares his journey into real estate investing to eventually launching his own property management company.

Summary

In this episode, hosts Nate Hedrick and David Bright welcome Naeem Farokhnia, an engineer-turned-real estate investor and founder and CEO of TheSFPropertyManagement Inc, a technology enabled property management company providing top notch services to tenants and landlords.

Nareem shares his inspiring journey of moving to the U.S. and eventually launching his property management company. He dives into the challenges of managing properties in high-risk neighborhoods, the value of vetting tenants and property managers, and how technology, like virtual tours, has transformed his operations.

About Today's Guest

Naeem Farokhnia is a serial entrepreneur with 19 years of experience in engineering and technology working at high growth startups and fortune 500 companies.

Farokhnia worked at Vicor Corporation for a stint before joining Apple on their Power Management and MacBook Pro teams as an Engineer.

Farokhnia is now the founder and CEO of TheSFPropertyManagement Inc, a technology enabled property management company providing top notch services to tenants and landlords. His company has managed over 100 doors and 1,000 tenants combined. Naeem entered the multifamily space through his company, The Multifamily Holdings, where he helps business owners and engineers who are worried about stock market volatility and want more stability in their investments to passively invest in real estate without the hassle of managing properties, finding tenants, or handling maintenance and repairs.

Mentioned on the Show

• YFP Real Estate Investing 109: How Two Pharmacists Pay No Income Tax Through Real Estate
• https://themultifamilyholdings.com
• Naeem Farokhnia on LinkedIn
• YFP Real Estate Investing Facebook Group
• YFP Real Estate Investing Website
• Nate Hedrick on Instagram
• David Bright on Instagram
• Nate Hedrick on LinkedIn
• David Bright on LinkedIn
• Subscribe to the YFP Newsletter
• YFP Disclaimer