YFP Co-Founder and Director of Financial Planning Tim Baker discusses six financial moves for mid-career pharmacists, including re-evaluating the vision for the financial plan.

Summary

Tim Ulbrich is joined by YFP Co-Founder and Director of Financial Planning, Tim Baker to discuss various financial planning strategies for mid-career pharmacists, including resetting the vision for the financial plan, prioritizing retirement planning and emergency funds, and reevaluating, reviewing and updating insurance policies.

Regularly reviewing and adjusting these funds to account for the various life changes ensures that policies align with current financial goals and circumstances. Tim and Tim also address the importance of having those uncomfortable conversations, such as end-of-life care and inheritance to avoid potential legal and financial issues in the future.

About Today's Guest

Tim Baker is the Co-Founder and Director of Financial Planning at Your Financial Pharmacist. Founded in 2015, YFP is a fee-only financial planning firm and connects with the YFP community of 12,000+ pharmacy professionals via the Your Financial Pharmacist Podcast podcast, blog, website resources and speaking engagements.

Tim attended the United States Military Academy majoring in International Relations and branching Armor. After his military career, he worked as a logistician with a major retailer and a construction company. After much deliberation, Tim decided to make a pivot in his career and joined a small independent financial planning firm in 2012. In 2016, he launched his own financial planning firm Script Financial and in 2019 merged with Your Financial Pharmacist. Tim now lives in Columbus, Ohio with his wife (Shay), three kids (Olivia, Liam and Zoe), and dog (Benji).

Mentioned on the Show

• Financial Moves to Make as a Mid-Career Pharmacist
• YFP Financial Planning
• YFP Podcast 357: Emergency Fund Check Up: 5 Questions You Must Answer
• YFP Podcast 272:How Much is Enough? (Retirement Planning)
• Social Security Resource
• YFP Podcast 310:Dusting Off the Estate Plan
• YFP Podcast 321: Navigating Financial Conversations with Aging Parents
• Your Financial Pharmacist
• YFP+
• Subscribe to the YFP Newsletter
• Tim Baker on LinkedIn
• Tim Ulbrich on LinkedIn
• YFP on Instagram
• YFP Facebook Group
• YFP Disclaimer