Scripted Wealth | Money & Meaning for Pharmacists

On this episode of the Your Financial Pharmacist podcast, Tim Church leads another edition of the Side Hustle Series where he talks about ways you can create additional streams of income to reach your financial goals faster. This episode features Dr. TJ Allan, a pharmacist and entrepreneur who owns three gyms and is now teaching others how to open their own gym.

Mentioned on the Show

• LendKey
• YFP 081: New Year Financial Game Plan
• Rich Dad, Poor Dad: What the Rich Teach Their Kids About Money - That the Poor and Middle Class Do Not! by Robert T. Kiyoaski
• Tony Robbins
• John Maxwell
• The Lean Startup: How Today’s Entrepreneurs Use Continuous Innovation to Create Radically Successful Businesses by Eric Ries
• The E Myth Revisited: Why Most Small Business Don’t Work and What to Do About It by Michael E. Gerber
• The ONE Thing: The Surprisingly Simple Truth Behind Extraordinary Results by Gary Keller
• Contact TJ Allan

On episode 82 of the Your Financial Pharmacist Podcast, Tim Ulbrich, co-founder of YFP, welcomes Joe Baker and Blake Johnson to the show. They talk about Blake's journey paying off $150,000 in student loans in three and a half years and how the class he took at the University of Arkansas, taught by Joe Baker, helped prepare him to be on his way to achieving financial freedom.

1. Invest in appreciable items, such as education and house. Minimize depreciable items, such as car, clothes, etc. Student loan money should be spent on bare necessities.
2. Utilize the time value of money. Time is on your side when you are young.
3. Max out on your 401(k), 403(b), Roth 401(k) and Roth IRA. Stocks, Bonds & Cash. 100% – your age = % in stocks. Stock Index Funds or Target Date Fund (2055 Fund). At the minimum, contribute enough for employer match – free money!
4. Save money consistently and systematically throughout your life (dollar cost averaging). Don't take money out of your retirement account. Penalties and taxes will apply.
5. Make sure your future spouse has the same financial goals as you. Pre-marital counseling that includes financial goals and spending habits. If already married, try to get on the same financial page. Dave Ramsey offers a Financial Peace Workshop.
6. Stay away from credit cards. "If I cannot pay balance off each month, I cannot afford it!" Debt is NOT your friend. ALL debt is bad. Proverbs 22:7
7. A vehicle is NOT who you are – it's transportation only! Beware of the illusion of wealth. This is one of the biggest obstacles in wealth accumulation.
8. Keep an eye on the small choices you make in life. Buying Starbucks Coffee. Drink water at restaurants!
9. Avoid lotteries, multi-level marketing (pyramid schemes) and time shares.
10. Choose a 15 or 20 year mortgage over a 30 year. Pay 20% down (avoids Private Mortgage Interest). Make additional payments toward the principal.
11. Protect your assets! Adequate personal liability coverage. Life & disability coverage protection. Have your own individual pharmacist liability policy.
12. Read Seven Figure Pharmacist by Tim Ulbrich, Pharm.D & Tim Church, Pharm.D. Sign up for Your Financial Pharmacist blog. Kiplinger's & Investopedia, like on Facebook.
13. Make a difference in your family, community & place of worship. This will make you wealthy in your heart, body and soul. Amen!

Mentioned on the Show

• YNAB. Giveaway
• Larry Burkett
• Dave Ramsey
• YFP 057: The Power of Automating Your Financial Plan
• 7 Figure Pharmacist by Tim Ulbrich, PharmD and Tim Church, PharmD
• Investopedia: Are You In the Top 1% of The World?
• Rich Dad, Poor Dad: What the Rich Teach Their Kids About Money - That the Poor and Middle Class Do Not! by Robert T. Kiyosaki
• Bigger Pockets
• YFP 068: Pros/Cons of the Dave Ramsey 7 Baby Steps
• Contact Joe Baker
• The Automatic Millionaire: A Powerful One-Step Plan to Live and Finish Rich by David Bach

On episode 82 of the Your Financial Pharmacist Podcast, Tim Ulbrich, co-founder of YFP, welcomes Joe Baker and Blake Johnson to the show. They talk about Blake’s journey paying off $150,000 in student loans in three and a half years and how the class he took at the University of Arkansas, taught by Joe Baker, helped prepare him to be on his way to achieving financial freedom.

1. Invest in appreciable items, such as education and house. Minimize depreciable items, such as car, clothes, etc. Student loan money should be spent on bare necessities.
2. Utilize the time value of money. Time is on your side when you are young.
3. Max out on your 401(k), 403(b), Roth 401(k) and Roth IRA. Stocks, Bonds & Cash. 100% – your age = % in stocks. Stock Index Funds or Target Date Fund (2055 Fund).  At the minimum, contribute enough for employer match – free money!
4. Save money consistently and systematically throughout your life (dollar cost averaging). Don’t take money out of your retirement account. Penalties and taxes will apply.
5. Make sure your future spouse has the same financial goals as you. Pre-marital counseling that includes financial goals and spending habits. If already married, try to get on the same financial page. Dave Ramsey offers a Financial Peace Workshop.
6. Stay away from credit cards. “If I cannot pay balance off each month, I cannot afford it!” Debt is NOT your friend. ALL debt is bad. Proverbs 22:7
7. A vehicle is NOT who you are – it's transportation only! Beware of the illusion of wealth. This is one of the biggest obstacles in wealth accumulation.
8. Keep an eye on the small choices you make in life. Buying Starbucks Coffee. Drink water at restaurants!
9. Avoid lotteries, multi-level marketing (pyramid schemes) and time shares.
10. Choose a 15 or 20 year mortgage over a 30 year. Pay 20% down (avoids Private Mortgage Interest). Make additional payments toward the principal.
11. Protect your assets! Adequate personal liability coverage. Life & disability coverage protection. Have your own individual pharmacist liability policy.
12. Read Seven Figure Pharmacist by Tim Ulbrich, Pharm.D & Tim Church, Pharm.D. Sign up for Your Financial Pharmacist blog.  Kiplinger's & Investopedia, like on Facebook.
13. Make a difference in your family, community & place of worship. This will make you wealthy in your heart, body and soul. Amen!

Mentioned on the Show

• YNAB. Giveaway
• Larry Burkett
• Dave Ramsey
• YFP 057: The Power of Automating Your Financial Plan
• 7 Figure Pharmacist by Tim Ulbrich, PharmD and Tim Church, PharmD
• Investopedia: Are You In the Top 1% of The World?
• Rich Dad, Poor Dad: What the Rich Teach Their Kids About Money - That the Poor and Middle Class Do Not! by Robert T. Kiyosaki
• Bigger Pockets
• YFP 068: Pros/Cons of the Dave Ramsey 7 Baby Steps
• Contact Joe Baker
• The Automatic Millionaire: A Powerful One-Step Plan to Live and Finish Rich by David Bach

The Money Care Specialists Podcast takes financial health assessments to the next level bringing healthcare practitioners bite-sized, real-life, and on-air financial cases that might very well be their own.

Money Care Specialists Facebook Group

The Money Care Specialists Podcast takes financial health assessments to the next level bringing healthcare practitioners bite-sized, real-life, and on-air financial cases that might very well be their own.

Money Care Specialists Facebook Group

On episode 81 of the Your Financial Pharmacist Podcast, Tim Ulbrich, YFP co-Founder, and Tim Baker, YFP team member and CFP, kick off 2019 by talking about a New Year financial game plan. Tim and Tim discuss 5 financial moves you should be making to ensure you get this year started off the right way.

Mentioned on the Show

• Script Financial
• You Need A Budget (YNAB.) - Giveaway
• YNAB.
• YFP 080: 10 Financial Moves to Make Before the New Year
• BiggerPockets
• YFP 032: Find Your Why (Part 1) - 3 Life Planning Questions w/ Tim & Jess Ulbrich
• YFP 033: Find Your Why (Part 2) - The Path to Success w/ Tim & Jess Ulbrich
• YFP 079: Is It Time to Redefine Retirement? w/ Nick Ornella
• 7 Figure Pharmacist by Tim Ulbrich and Tim Church
• YFP Budget Tool
• Mint
• YFP 057: The Power of Automating Your Financial Plan
• YFP 070: Pre-Planning for Tax Season w/ Paul Eikenberg
• YFP Tax Prep
• Dave Ramsey's Financial Peace University
• YFP Legacy Folder Checklist
• Your Financial Pharmacist
• YFP Facebook Group
• The Millionaire Next Door: The Surprising Secrets of America's Wealthy by Thomas J. Stanley
• The 4-Hour Workweek: Escape 9-5, Live Anywhere, and Join the New Rich by Timothy Ferriss
• Rich Dad Poor Dad: What the Rich Teach Their Kids About Money That the Poor and Middle Class Do Not! by Robert T. Kiyosaki
• YFP Book Club

On episode 81 of the Your Financial Pharmacist Podcast, Tim Ulbrich, YFP co-Founder, and Tim Baker, YFP team member and CFP, kick off 2019 by talking about a New Year financial game plan. Tim and Tim discuss 5 financial moves you should be making to ensure you get this year started off the right way.

Mentioned on the Show

• Script Financial
• You Need A Budget (YNAB.) - Giveaway
• YNAB.
• YFP 080: 10 Financial Moves to Make Before the New Year
• BiggerPockets
• YFP 032: Find Your Why (Part 1) - 3 Life Planning Questions w/ Tim & Jess Ulbrich
• YFP 033: Find Your Why (Part 2) - The Path to Success w/ Tim & Jess Ulbrich
• YFP 079: Is It Time to Redefine Retirement? w/ Nick Ornella
• 7 Figure Pharmacist by Tim Ulbrich and Tim Church
• YFP Budget Tool
• Mint
• YFP 057: The Power of Automating Your Financial Plan
• YFP 070: Pre-Planning for Tax Season w/ Paul Eikenberg
• YFP Tax Prep
• Dave Ramsey’s Financial Peace University
• YFP Legacy Folder Checklist
• Your Financial Pharmacist
• YFP Facebook Group
• The Millionaire Next Door: The Surprising Secrets of America’s Wealthy by Thomas J. Stanley
• The 4-Hour Workweek: Escape 9-5, Live Anywhere, and Join the New Rich by Timothy Ferriss
• Rich Dad Poor Dad: What the Rich Teach Their Kids About Money That the Poor and Middle Class Do Not! by Robert T. Kiyosaki
• YFP Book Club

On episode 80 of the Your Financial Pharmacist Podcast, Tim Ulbrich, Co-Founder of YFP, and Tim Baker, YFP Team Member and CFP, hit replay from one of their favorite episodes in 2017 to talk through 10 financial moves they think you should make before or after the new year.

On episode 80 of the Your Financial Pharmacist Podcast, Tim Ulbrich, Co-Founder of YFP, and Tim Baker, YFP Team Member and CFP, hit replay from one of their favorite episodes in 2017 to talk through 10 financial moves they think you should make before or after the new year.

On episode 079, Tim Ulbrich, co-founder of Your Financial Pharmacist, interviews Dr. Nick Ornella, a 2009 graduate of Ohio Northern University, about his journey paying off his student loans in 10 months and shortly after taking one year off to travel the world. Tim and Nick talk about redefining the concept of retirement and why the concept of mini-retirements are gaining traction. They finish the show up by getting practical with 7 steps you can take to plan for a year off.

Mentioned on the Show

• Script Financial
• Young Professional's Guide to a Year Off
• The 4-Hour Work Week: Escape 9-5, Live Anywhere, and Join the New Rich by Timothy Ferriss
• Vagabonding: An Uncommon Guide to the Art of Long-Term Travel by Rolf Potts
• How to Travel the World: Travel Cheaper, Longer, Smarter by Matt Kepnes
• Rich Dad, Poor Dad: What the Rich Teach Their Kids About Money - That The Poor and the Middle Class Do Not by Robert T. Kiyosaki
• YFP 032: Find Your Why (Part 1) - 3 Life Planning Questions w/ Tim & Jess Ulbrich
• YFP 033: Find Your Why (Part 2) - The Path to Success w/ Tim & Jess Ulbrich
• Year Off Blog: The 7 Financial Steps to a Year Off
• Year Off Blog: Calculate Your Year Off Age