Episódios
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YFP Co-Founder & CEO, Tim Ulbrich, PharmD shares five key elements for building a strong financial foundation after graduation.
This episode is brought to you by YFP+.
Summary
On this episode sponsored by YFP+, host Tim Ulbrich outlines five key elements for building a strong financial foundation. Whether you are a pharmacy student looking ahead, a soon to be 2024 graduate, or a resident, fellow, or new practitioner trying to find solid financial footing, Tim shares what it means to build a strong financial foundation, no matter where you are in your career.
With the average pharmacist facing staggering student loan debt and often lacking financial knowledge, Tim shares practical strategies to help pharmacists begin to navigate debt management, investing, insurance coverage and retirement planning.
About Today's Guest
Tim Ulbrich is the Co-Founder and CEO of Your Financial Pharmacist. Founded in 2015, YFP is a fee-only financial planning firm and connects with the YFP community of 15,000+ pharmacy professionals via the Your Financial Pharmacist Podcast podcast, blog, website resources and speaking engagements. To date, YFP has partnered with 75+ organizations to provide personal finance education.
Tim received his Doctor of Pharmacy degree from Ohio Northern University and completed postgraduate residency training at The Ohio State University. He spent 9 years on faculty at Northeast Ohio Medical University prior to joining Ohio State University College of Pharmacy in 2019 as Clinical Professor and Director of the Master’s in Health-System Pharmacy Administration Program.
Tim is the host of the Your Financial Pharmacist Podcast which has more than 1 million downloads. Tim is also the co-author of Seven Figure Pharmacist: How to Maximize Your Income, Eliminate Debt and Create Wealth. Tim has presented to over 200 pharmacy associations, colleges, and groups on various personal finance topics including debt management, investing, retirement planning, and financial well-being.
Mentioned on the Show
YFP+ YFP Gives Scholarship Register for This Free Webinar: Your Checklist for Buying a Home in 2024 YFP Budget Template YFP Financial Fitness Test YFP Podcast Episode 165: The Power of a Health Savings Account (HSA) YFP Blog: Why I’m Not Using My Health Savings Account to Pay for Medical Expenses YFP Podcast Episode 272: How Much is Enough (Retirement Planning) YFP Planning Subscribe to the YFP Newsletter Tim Ulbrich on LinkedIn YFP on Instagram YFP Facebook Group YFP Disclaimer -
Dr. Ayush Gupta, founder of MD House Hacking, shares his journey into real estate investing and how it has helped him pursue financial independence.
Summary
In this episode of the podcast, hosts Nate Hedrick and David Bright welcome Dr. Ayush Gupta, a pediatric emergency room physician and seasoned real estate investor and founder of MD House Hacking.
After witnessing his colleagues lose their jobs and investments during the COVID-19 pandemic, Dr. Gupta felt prompted to explore other income opportunities, specifically in real estate investing. Dr. Gupta illuminates the concept of "house hacking" and its financial benefits, drawing from his own experience of purchasing a four-unit building with a minimal down payment and renovating it for profit.
Dr. Gupta shares his journey of acquiring multiple properties, including invaluable tips for negotiating with contractors, finding and financing deals, scaling investments and navigating market conditions.
About Today's Guest
Dr. Ayush Gupta, is a Pediatric Emergency Medicine Physician. He was born and raised in India. He moved to the US in 2012 to complete his Residency and Fellowship. Soon after Fellowship, he moved to New Orleans where he works Full time in the emergency department. But he isn't your average doctor. Witnessing COVID burnout, he started investing in real estate through househacking, living rent-free while empowering other healthcare heroes with house hacking and financial freedom tools. Now, he shatters the "just a doctor" label, advocating for multiple income streams and crafting an identity beyond medicine.
Mentioned on the Show
MD House Hacking MD House Hacking on Instagram Dr. Gupta on LinkedIn YFP Real Estate 113: Short Term Rental Tax Loophole Bigger Pockets Podcast Subscribe to the YFP Newsletter YFP Disclaimer Your Financial Pharmacist 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 -
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Derek Schwartz, PharmD, returns to talk about his debt free journey and his path toward FI/RE: Financial Independence, Retire Early.
Summary
On this episode, we check back in with Derek Schwartz, PharmD, on his debt free to FIRE journey. Derek was an early guest on the podcast back in 2017 when he was working toward becoming debt free by ambitiously paying off $180,000 in student loan debt.
Today, Derek returns to share a life update after successfully eliminating his student loan debt - from getting married to owning a home to becoming a father of two - Derek explains how he continues to save and view spending and how his journey toward an early retirement evolves as he pursues FIRE. Derek shares encouraging advice for new grads and anyone looking to pay down debt and what it can mean when you are truly financially free.
About Today's Guest
Derek Schwartz, PharmD, RPh is a 2014 graduate of Ohio Northern University Raabe College of Pharmacy who currently works with the Kroger Company in the Cincinnati, OH area. After graduating in 2014 with over $180,000 in debt, he paid it off in March 2018. Derek and his wife, Jessica, married in October 2020, and have two children: Julia, age 2, and Calvin, 8 months old. The family of four have a happy and busy life in Cincinnati, Ohio.
Mentioned on the Show
YFP 014: Turning Student Debt Frustration Into Action YFP/APhA Webinar: Money Moves: How to Evaluate Benefits Packages and Job Offers (With Live Insight on Real Pharmacist Job Offers!) on April 17, 2024 YFP Planning Subscribe to the YFP Newsletter Tim Ulbrich on LinkedIn YFP on Instagram YFP Facebook Group YFP Disclaimer -
Nate Hedrick, The Real Estate RPH, discusses how to avoid the trap of becoming house poor, the ever-lively debate of renting vs buying a home, the costs of buying a home, and how to determine how much house you can afford.
Summary
In this episode sponsored by Real Estate RPh, host Tim Ulbrich chats with pharmacist and real-estate agent Nate Hedrick, CEO and founder of Real Estate RPh all about the costs of home buying. Beyond the initial down payment and monthly mortgage payment, there are a lot of expenses with home ownership. Some expenses can be expected and planned for, others can catch you by surprise, as Nate and Tim have both learned.
Hear valuable insights and resources for pharmacists looking to purchase a home, covering topics such as down payment assistance options, planning for those unexpected expenses, and creative ways to help achieve the goal of home ownership.
About Today's Guest
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.
Mentioned on the Show
YFP Webinar on April 25th at 8:30pm EST “Your Checklist for Buying a Home in 2024” with Nate Hedrick Real Estate RPh YFP Home Buying Resources YFP REI Podcast: Navigating the NAR New: Insights for Real Estate Investor YFP Planning Subscribe to the YFP Newsletter YFP Real Estate Investing Facebook Group Nate Hedrick on Instagram Tim Ulbrich on LinkedIn YFP on Instagram YFP Facebook Group YFP Disclaimer -
In another episode of the Pharmacy Innovator series, Dr. Kelley Carlstrom, CEO and founder of KelleyCPharmD, discusses entrepreneurship in oncology pharmacy.
Summary
On this episode, we have another segment of the YFP Podcast's Pharmacy Innovator series! Hosted by Corrie Sanders, PharmD, this series is tailored for pharmacists venturing into entrepreneurship, featuring stories and strategies for aspiring pharmacy entrepreneurs.
This week, we delve into the dynamic world of entrepreneurship within oncology pharmacy with Dr. Kelley Carlstrom. Kelley is a board-certified oncology pharmacist and CEO and founder of KelleyCPharmD, which addresses crucial gaps in clinical oncology training. Dr. Carlstrom shares her experiences working in traditional and non-traditional settings, healthcare technology, insights on her transition from employee to entrepreneur, her evolving business model, and opportunities in oncology for pharmacists. Kelley also discusses how to monetize your expertise and the value of communities when starting a business.
About Today's Guest
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.
Kelley received her Doctor of Pharmacy from The University of Colorado and completed post-graduate residency training at Beth Israel Deaconess Medical Center and Dana-Farber Cancer Institute in Boston, MA.
She is a board-certified oncology pharmacist that has worked in a variety of traditional and non-traditional settings including at large academic and small community cancer centers, as a consultant for a large electronic medical record implementation, and in the healthcare technology space helping create digital products for oncology clinicians and patients.
Kelley is also a prolific content creator, sharing clinical and motivational pearls about oncology. She is part of the LinkedIn Top Voices program, an invitation-only program that recognizes and celebrates the most influential and engaging professionals on LinkedIn.
Mentioned on the Show
YFP Podcast 217: How Kelley Used Her Clinical Expertise to Build a Business KelleyCPharmD: Oncology Training for Pharmacists Kelley Carlstrom on LinkedIn Corrie Sanders, Huna Health on Instagram Subscribe to the YFP Newsletter YFP Planning Tim Ulbrich on LinkedIn YFP on Instagram YFP Facebook Group Your Financial Pharmacist YFP Disclaimer YFP Newsletter -
Hosts David and Nate break down the NAR settlement and what it means for the future of
buying and selling homes.Summary
On March 18, 2024, the National Association of Realtors (NAR) announced it had reached
a $418 settlement in an antitrust lawsuit. NAR, which represents over one million Realtors, agreed to put in place a new set of rules, including changes to the typical 6% of the sale price paid by sellers toward a fee split between the buyer’s agent and seller’s agent. Hosts David Bright and Nate Hedrick, who is a licensed real estate agent himself, break down the ramifications of this ruling and what it means for the way Americans buy and sell homes.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
NAR Press Release Subscribe to the YFP Newsletter YFP Disclaimer Your Financial Pharmacist 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 discusses the importance of creating a legacy folder to organize essential financial documents for access during emergencies and peace of mind.
Summary
In this episode, YFP Founder and CEO, Tim Ulbrich, delves into the critical aspect of establishing a "legacy folder" to efficiently organize essential financial documents and accounts. This folder serves as a vital resource in emergencies, streamlining access for loved ones and averting confusion or delays. Drawing from personal experience, Ulbrich shares how he and his wife maintain their financial plan and essential documents in a shared electronic folder and a secure physical safe at home, ensuring accessibility and peace of mind during unforeseen circumstances.
Tim explores the contents of the legacy folder, which encompass a comprehensive checklist, electronic copies, and hard copies of vital papers such as birth certificates and social security cards and other critical documents like insurance policies and estate planning materials.
Learn how to proactively organize your financial affairs to safeguard against unforeseen events, ultimately fostering financial peace of mind and security.
About Today's Guest
Tim Ulbrich is the Co-Founder and CEO of Your Financial Pharmacist. Founded in 2015, YFP is a fee-only financial planning firm and connects with the YFP community of 15,000+ pharmacy professionals via the Your Financial Pharmacist Podcast podcast, blog, website resources and speaking engagements. To date, YFP has partnered with 75+ organizations to provide personal finance education.
Tim received his Doctor of Pharmacy degree from Ohio Northern University and completed postgraduate residency training at The Ohio State University. He spent 9 years on faculty at Northeast Ohio Medical University prior to joining Ohio State University College of Pharmacy in 2019 as Clinical Professor and Director of the Master’s in Health-System Pharmacy Administration Program.
Tim is the host of the Your Financial Pharmacist Podcast which has more than 1 million downloads. Tim is also the co-author of Seven Figure Pharmacist: How to Maximize Your Income, Eliminate Debt and Create Wealth. Tim has presented to over 200 pharmacy associations, colleges, and groups on various personal finance topics including debt management, investing, retirement planning, and financial well-being.
Mentioned on the Show
YFP Legacy Folder Checklist YFP 222:Why Estate Planning is Such an Important Part of the Financial Plan YFP 310: Dusting Off Your Estate Plan YFP Net Worth Tracking Sheet The Millionaire Next Door by Tom Stanley Check your Social Security Statements Financial Peace University Subscribe to the YFP Newsletter YFP Planning Tim Ulbrich on LinkedIn YFP on Instagram YFP Facebook Group Your Financial Pharmacist YFP Disclaimer YFP Newsletter -
Tim Gauthier, a pharmacist and entrepreneur of two learning platforms shares advice for pharmacists seeking to monetize their clinical expertise. This episode is sponsored by APhA.
Summary
This week on the YFP Podcast, YFP Co-Founder & CEO, Tim Ulbrich, PharmD, welcomes antimicrobial stewardship pharmacist and fellow pharmacy entrepreneur, Tim Gauthier.
Tim is the creator of IDStewarship.com and LearnAntibiotics.com. During the show, Tim and Tim discuss the genesis for creating these two learning platforms, how Tim has monetized his clinical experience to create passive streams of income, and how he manages to stay consistent in entrepreneurship while balancing a full-time pharmacy career and fulfilling personal life.
Listeners will hear about Tim's pathway to pharmacy, what drew him into the profession, his passion for infectious disease pharmacy, and what he was hoping to accomplish with his learning platforms, IDStwardship.com and LearnAntibiotics.com. Tim walks us through the content and resources available on his websites and how he has monetized them while providing a wealth of free content to his community. Making things passive and generating passive revenue streams is crucial to Tim, and he shares the tools and systems he has put in place to make that goal possible while balancing other obligations.
Tim also discusses the incredible value of community and how he has built an active, engaged pharmacists community that contributes to the platforms in multiple ways. Tim closes with advice for pharmacists looking to follow a similar path in monetizing their clinical expertise.
About Today's Guest
Timothy P. Gauthier, Pharm.D., BCPS, BCIDP is a pharmacist trained in infectious diseases and antimicrobial stewardship. He is a clinician, researcher, educator, and author. He is an advocate for antimicrobial stewardship and pharmacy education.
Dr. Gauthier graduated from Northeastern University’s School of Pharmacy (Boston, MA) in 2008. He then completed a Post-Graduate Year-1 Pharmacy Practice Residency and a Post-Graduate Year-2 Infectious Diseases Pharmacy Residency at Jackson Memorial Hospital (Miami, FL). Since finishing terminal training he has worked in academia (Nova Southeastern University, 2010-2015), clinical practice (Miami Veterans Affairs Healthcare System, 2015-2019), and a leadership role (Baptist Health South Florida, 2019-current), all focusing on advancing the fields of infectious diseases pharmacy and antimicrobial stewardship.
He holds certifications from the Board of Pharmacy Specialties for Pharmacotherapy and Infectious diseases. He has completed the Making A Difference in Infectious Diseases Pharmacotherapy Antimicrobial Stewardship Training Program.
He is the creator and editor-in-chief of www.IDstewardship.com, www.LearnAntibiotics.com, and the many @IDstewardship social media profiles. He co-hosts the #ASPchat each month on Twitter. He reaches thousands of people each day on the internet and on social media, where he aims share reliable and relevant information from the world of pharmacy and healthcare in general. IDstewardship.com alone has registered over 5,00,000 page views as of November 2022.
Mentioned on the Show
YFP Planning: Financial Planning for Pharmacists Schedule a free Discovery Call with YFP Planning IDStewardship.com LearnAntibiotics.com YFP 217: How Kelley Used Her Clinical Expertise to Build a Business KelleyCPharmD Pharmacy & Acute Care University Follow IDstewardship on Instagram: @idstewardship Follow IDstewardship, Antibiotic Stewardship & Pharmacy Education on Facebook Follow IDstewardship on Twitter: @IDstewardship Tim Ulbrich on LinkedIn Your Financial Pharmacist Facebook Group Your Financial Pharmacist Disclaimer and Disclosures -
Attorney Brian Boyd shares his passion for educating real estate investors on tax strategies and wealth creation through real estate.
Summary
On this episode of YFP Real Estate Investing Podcast, hosts Nate Hedrick and David Bright welcome special guest, attorney Brian Boyd.
Brian, a passionate advocate for educating real estate investors on tax strategies and wealth creation through property investments, offers valuable insights on getting started, scaling up, and creating a lasting legacy. His expertise extends to conducting seminars and speaking engagements, making him a valuable resource for those looking to enhance their understanding of real estate and taxes.
This insightful discussion on real estate investing, featuring personal stories, expert advice, and practical strategies will help seasoned investors and those just getting started on their real estate investment journey to navigate the complex world of property investments and taxation.
About Today's Guest
Brian T. Boyd is a skilled business litigation attorney who works hard to address your legal problems in Franklin and throughout Middle Tennessee. At the Law Office of Brian T. Boyd, PLLC, clients receive large law firm experience and capability, plus the attentive personal service of a small law firm. Clients, big and small, get the same superior service for every business formation, commercial litigation, tax, or estate planning need. Brian will listen carefully as you express your wishes and goals. He responds with realistic assessments and uses his legal knowledge to chart the correct course of action. He is as invested in you as you are in him. Whether Brian acts as general counsel for your company or addresses an individual entrepreneur’s urgent legal matter, you receive sound recommendations and maximum availability to his expertise throughout the legal process.
Mentioned on the Show
YFP REI 113: Short Term Rental Tax Loophole YFP REI 115: What is REPS? YFP 109: How Two Pharmacists Pay No Income Tax Through Real Estate YFP REI 96: Managing Risk and Taxes through a Real Estate Team with Thomas Castelli Bigger Pockets Tax Smart REI Podcast The Road to Serfdom Replace Your Income by Brian Boyd Brian Boyd on Instagram Brian Boyd on Facebook Subscribe to the YFP Newsletter YFP Disclaimer Your Financial Pharmacist 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 -
YFP’s Tim Baker addresses key questions from the community, covering retirement savings, cost of living, and the importance of the nest egg calculation.
Summary
On this week's episode of the YFP Podcast, host Tim Ulbrich is joined by YFP Co-Founder and Certified Financial Planner, Tim Baker, to dive into some of the most common questions from the YFP community. He covers topics ranging from debt repayment to investing and retirement planning in three key questions:
How much do I need to save in order to retire? How do I determine what is enough?
The intricacies of cost of living and understanding the income you'll have in retirement.
Why the nest egg calculation is crucial in financial planning.
Our discussion also delves into the pros and cons of paying off low-interest debt, such as student and auto loans, versus investing. Tim Baker also shares the strategies for prioritizing debt repayment, retirement savings, and saving for a house down payment.
In a particularly insightful segment, Tim and Tim tackle a question from a listener with a $200,000 student loan balance, where Public Service Loan Forgiveness (PSLF) isn't an option. Tim Baker shares his perspective on weighing the decision between paying off the loans and pursuing forgiveness over 20-25 years, including the potential tax implications.
Join us as we navigate the complexities of financial planning and empower you to make informed decisions for a secure financial 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), two kids (Olivia and Liam), and dog (Benji).
Mentioned on the Show
Episode 272 - How Much is Enough YFP Planning - www.yfpplanning.com YFP+ - yourfinancialpharmacist.com/membership Subscribe to the YFP Newsletter YFP Open House on March 14, 2024 at 8:30pm EST - yourfinancialpharmacist.com/openhouse YFP Disclaimer Tim Ulbrich on LinkedIn Tim Baker on LinkedIn -
Tony Umholtz of First Horizon shares insights on the real estate landscape for 2024. Sponsored by First Horizon.
Summary
In this week's podcast sponsored by First Horizon, we're joined by Tony Umholtz, a Mortgage Loan Officer from First Horizon, to delve into the housing market updates and trends for 2024. He shares insights on current rates, supply/demand dynamics, and the impact of projected Fed Rate cuts in 2024 on the market. The episode explores the pros and cons of buying a home now versus waiting and delves into assumable rate mortgages—what they are, how they function, eligible loan types, and their growing popularity.
About Today's Guest
Tony Umholtz is the Senior VP of Mortgage Banking at First Horizon. He graduated Cum Laude from the University of South Florida with a B.S. in Finance from the Muma College of Business. He then went on to complete his MBA. While at USF, Tony was part of the inaugural football team in 1997. He earned both Academic and AP All-American Honors during his collegiate career. After college, Tony had the opportunity to sign contracts with several NFL teams including the Tennessee Titans, New York Giants, and the New England Patriots. Being active in the community is also important to Tony. He has served or serves as a board member for several charitable and non-profit organizations including board member for the Salvation Army, FCA Tampa Bay, and the USF National Alumni Association. Having orchestrated over $1.1 billion in lending volume during his career, Tony has consistently been ranked as one of the top mortgage loan officers in the industry by the Scotsman’s Guide, Mortgage Executive magazine, and Mortgage Originator magazine.
Mentioned on the Show
Subscribe to the YFP Newsletter Tony Umholtz First Horizon Tony Umholtz on LinkedIn Tony Umholtz on Instagram First Horizon Pharmacist Home Loan YFP Planning: Fee-Only Financial Planning for Pharmacists YFP Disclaimer Tim Ulbrich on LinkedIn -
Dr. David Zgarrick, retired professor, redefines retirement after 30+ years in academia and shares insights on embracing a fulfilling post-pharmacy life.
Summary
This week on the YFP Podcast, we revisit a classic episode. On episode #291, YFP Co-Founder & CEO, Tim Ulbrich, PharmD, welcomed Dr. David Zgarrick, a Professor Emeritus of Northeastern University, to the show to discuss redefining retirement. Some highlights from the episode include Dr. Zgarrick sharing his views on his next phase in life, after 30+ years in academia, as a preferment phase of his career. He shares how and why he started planning for his financial future early on in his life and career and hands down advice for new pharmacy graduates facing competing financial priorities. Throughout the discussion, listeners will hear Dr. Zgarrick speak on standout moments from his pharmacy career, the impact his financial choices have had on that journey, and ultimately his decision to enter this preferment stage of his career. He shares excitement for retirement and this next phase of his life, what he means by a preferment phase, and how retirement can be an opportunity to experience a rich, fulfilling life outside of pharmacy without the guilt of competing responsibilities. Listen for helpful advice Dr. Zgarrick took from his financial advisor regarding his first year of retirement and how factoring in a cross-country move played a role in his retirement and financial plan.
About Today's Guest
David P. Zgarrick, Ph.D., is a Professor Emeritus in the School of Pharmacy and Pharmaceutical Sciences at Northeastern University. His prior positions include Associate Dean of Faculty at Northeastern’s Bouvé College of Health Sciences, Acting Dean of Northeastern’s School of Pharmacy and Pharmaceutical Sciences, Chair of the Northeastern’s Department of Pharmacy and Health Systems Sciences; John R. Ellis Distinguished Chair of Pharmacy Practice at Drake University College of Pharmacy and Health Sciences; and Vice-chair of Pharmacy Practice at Midwestern University Chicago College of Pharmacy. He is a licensed pharmacist, receiving a BS in Pharmacy from the University of Wisconsin - Madison and a MS and Ph.D. in Pharmaceutical Administration from The Ohio State University. Dr. Zgarrick taught pharmacy practice management and entrepreneurship in the health sciences. His scholarly interests include pharmacy workforce research, pharmacy management and operations, pharmacy education, and development of post-graduate programs. He has published over 150 peer-reviewed manuscripts and abstracts, is co-editor of the textbook Pharmacy Management: Essentials for All Practice Settings (5th Ed), and authored the book Getting Started as a Pharmacy Faculty Member. He was editor-in-chief of the Journal of Pharmacy Teaching, Executive Associate Editor of Currents in Pharmacy Teaching and Learning, and an editorial board member of Research in Social and Administrative Pharmacy. Dr. Zgarrick is active in many professional organizations, including the American Pharmacists Association (APhA) and the American Association of Colleges of Pharmacy (AACP). He served on AACP’s Board of Directors for 12 years, including as Treasurer from 2016 - 2022. Dr. Zgarrick also serves on the Board of Visitors for the University of Wisconsin School of Pharmacy, the Board of Grants for the American Foundation for Pharmaceutical Education, and is a Fellow of the American Pharmacists Association.
Mentioned on the Show
YFP Planning: Financial Planning for Pharmacists Schedule a free Discovery Call with YFP Planning Connect with David Zgarrick on LinkedIn Retirement Stepping Stones: Find Meaning, Live with Purpose, and Leave a Legacy by Tony Hixon Subscribe to the YFP Newsletter Tim Ulbrich on LinkedIn YFP on Instagram YFP Facebook Group Your Financial Pharmacist YFP Disclaimer YFP Newsletter -
Tim Ulbrich shares the importance of setting a budget for achieving your financial goals and five steps to help you get started.
Summary
In this week's episode, we learn all about one of the key first steps to mastering your money: creating a budget. You’ll learn how to implement a budgeting system that not only works, but is also enjoyable. Tim Ulbrich, YFP Founder and CEO shares a practical five-step process to help you get started. A budget isn't a restrictive tool, but an important instrument that can empower you on your journey toward financial well-being and help align your money with your vision for a rich and fulfilling life.
About Today's Guest
Tim Ulbrich is the Co-Founder and CEO of Your Financial Pharmacist. Founded in 2015, YFP is a fee-only financial planning firm and connects with the YFP community of 15,000+ pharmacy professionals via the Your Financial Pharmacist Podcast podcast, blog, website resources and speaking engagements. To date, YFP has partnered with 75+ organizations to provide personal finance education.
Tim received his Doctor of Pharmacy degree from Ohio Northern University and completed postgraduate residency training at The Ohio State University. He spent 9 years on faculty at Northeast Ohio Medical University prior to joining Ohio State University College of Pharmacy in 2019 as Clinical Professor and Director of the Master’s in Health-System Pharmacy Administration Program.
Tim is the host of the Your Financial Pharmacist Podcast which has more than 1 million downloads. Tim is also the co-author of Seven Figure Pharmacist: How to Maximize Your Income, Eliminate Debt and Create Wealth. Tim has presented to over 200 pharmacy associations, colleges, and groups on various personal finance topics including debt management, investing, retirement planning, and financial well-being.
Mentioned on the Show
Your Financial Pharmacist Financial Fitness Test YFP Budget Template Budgeting Blueprint Webinar YFP 341: 5 Financial Moves to Make in 2024 The Millionaire Next Door by Dr. Thomas Stanley Subscribe to the YFP Newsletter YFP Planning Tim Ulbrich on LinkedIn YFP on Instagram YFP Facebook Group Your Financial Pharmacist YFP Disclaimer YFP Newsletter -
David and Nate welcome back Dylan Koch to the show to share how he went from a full-time career as a pharmacist to full-time career in real estate investing.
Summary
In this episode, David and Nate welcome back Dylan Koch, PharmD, RPh to the show to share how he went from a full-time career as a pharmacist to full-time career in real estate investing.
Dylan shares that there are actually many skills from his training as a pharmacist that have helped shape his success in real estate investing. Through a lot of hard work, Dylan has grown his real estate portfolio and now focuses exclusively on his real estate ventures. He shares the journey of the transition from pharmacy to real estate and the financial strategies he had in place to set him up for success on his new career path.
Whether you’re looking to explore real estate investing as a side hustle or curious about jumping in full-time, Dylan’s story is all about how both paths can offer meaningful opportunities.
About Today's Guest
Dylan Koch, PharmD, RPh, was born and raised in a small town in western Ohio. Always knowing financial prudence was important, he started to read personal finance books close to pharmacy school graduation. After spending hundreds of hours learning about personal finance and investing, Dylan decided that real estate would be his preferred method towards financial independence. Upon graduating in 2017, Dylan built a small portfolio of 13 units with some partners, sold the entire portfolio, and built back up his own portfolio to 10 units. Dylan left full time pharmacy in October of 2021 to do real estate full-time and fast-track his path towards financial independence.
Mentioned on the Show
Subscribe to the YFP Newsletter YFP Disclaimer Your Financial Pharmacist 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 YFP REI 68 All the Hacks Podcast Bigger Pockets Podcast YFP REI 115: What is Real Estate Professional Status (REPS)? DiSC Profile Assessment Morning Brew Properties Morning Brew Properties Instagram -
Tim Ulbrich reviews seven impactful finance books he recommends for both seasoned investors and beginners to gain strategies and inspiration for success.
Summary
In this episode, Tim Ulbrich continues the discussion from Episode 341 on "5 Financial Moves to Make in 2024." The fifth "move" was about "setting a plan for your personal finance learning," and this week, Tim dives into seven personal finance books that have profoundly influenced his financial journey.
With no particular order in mind, Tim shares insights from each book and how he has implemented key takeaways into his own financial plan. You can find links to all these recommended books in the show notes. Tim emphasizes that these are not just any books – they are ones he frequently recommends or gifts to others, and they have played a crucial role in his and his wife, Jess’, journey towards achieving financial freedom.
Whether you're a seasoned investor or just starting on your financial journey, these books are a must-read (or re-read) in 2024. Tune in for valuable insights and inspiration to help you pave your way to financial success!
About Today's Guest
Tim Ulbrich is the Co-Founder and CEO of Your Financial Pharmacist. Founded in 2015, YFP is a fee-only financial planning firm and connects with the YFP community of 15,000+ pharmacy professionals via the Your Financial Pharmacist Podcast podcast, blog, website resources and speaking engagements. To date, YFP has partnered with 75+ organizations to provide personal finance education.
Tim received his Doctor of Pharmacy degree from Ohio Northern University and completed postgraduate residency training at The Ohio State University. He spent 9 years on faculty at Northeast Ohio Medical University prior to joining Ohio State University College of Pharmacy in 2019 as Clinical Professor and Director of the Master’s in Health-System Pharmacy Administration Program.
Tim is the host of the Your Financial Pharmacist Podcast which has more than 1 million downloads. Tim is also the co-author of Seven Figure Pharmacist: How to Maximize Your Income, Eliminate Debt and Create Wealth. Tim has presented to over 200 pharmacy associations, colleges, and groups on various personal finance topics including debt management, investing, retirement planning, and financial well-being.
Mentioned on the Show
YFP 341: 5 Financial Moves to Make in 2024 YFP 200: An Interview with Sarah Fallaw of The Next Millionaire Next Door 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 Subscribe to the YFP Newsletter YFP Planning Tim Ulbrich on LinkedIn YFP on Instagram YFP Facebook Group Your Financial Pharmacist YFP Disclaimer YFP Newsletter -
Jimmy Pruitt, PharmD, Founder & CEO of Pharmacy & Acute Care University, shares insights on his entrepreneurial journey and the EMPower Rx Conference.
Summary
In this week's episode, join our conversation with Dr. Jimmy Pruitt, a Clinical Pharmacy Specialist in Emergency Medicine at Atrium Health. Dr. Pruitt wears multiple hats as the Founder & CEO of Pharmacy & Acute Care University and the brains behind the EMPowerRx Conference. Our conversation delves into his fascinating entrepreneurial journey, exploring the roots of why and how he embarked on this path.
Throughout the episode, we gain valuable perspectives on the intricacies of balancing professional commitments and entrepreneurial endeavors. Dr. Pruitt shares his experiences, lessons learned, and the strategies he employed to overcome obstacles on his journey. Dr. Pruitt also shares his vision for the EMRower Rx Conference - a unique conference and continuing education experience for professionals in emergency medicine pharmacotherapy.
Tune in to this insightful conversation with Dr. Jimmy Pruitt to glean wisdom from his unique blend of clinical expertise and entrepreneurial spirit. Whether you're navigating the realms of healthcare, entrepreneurship, or both, this episode offers valuable insights and inspiration for the road ahead.
About Today's Guest
Dr. Jimmy Pruitt is originally from Orlando, FL, and is a combination of nerd and gym junky having a background as a division 1 cornerback then turned Doctor of Pharmacy from Presbyterian College School of Pharmacy in 2017. He completed a PGY-1 Pharmacy Residency at Florida Hospital Orlando, and then went on to Grady Health System in Atlanta GA for his PGY2 Emergency Medicine Residency. Dr. Pruitt is currently an Emergency Medicine Clinical Pharmacy Specialist at the Medical University of South Carolina in Charleston, SC.
Dr. Pruitt was honored with the Excellence in Diversity from MUSC College of Pharmacy, Presbyterian College School of Pharmacy (PCSP) Alumni of the Year, and keynote speaker for the 2021 PCPS graduation. Dr. Pruitt’s professional interests include cardiac arrest, shock syndromes, trauma, and hosting the #1 Emergency Medicine Pharmacy Podcast “Pharm So Hard” and operation his new pharmacy academy called Pharmacy & Acute Care University.
Mentioned on the Show
EMPowerRx Conference 2024 (use code YFP2024 for 15% off registration) YFP Episode 284 Start by Jon Acuff Procrastinate on Purpose by Rory Vaden Your Financial Pharmacist Your Financial Pharmacist on Facebook Your Financial Pharmacist on Instagram Tim Ulbrich on LinkedIn Jimmy Pruitt on LinkedIn YFP Disclaimer YFP Newsletter Pharm So Hard Podcast -
Tim Ulbrich and Sean Richards, CPA, discuss the tax preparations listeners should be considering ahead of the 2023 filing.
Summary
In this episode, Tim Ulbrich and Director of YFP Tax, Sean Richards, CPA, discuss the tax preparations listeners should be considering ahead of tax season and the 2023 filing. Whether you DIY your taxes or work with a professional, there are documents that need to be on hand to file your taxes. Sean shares essential tax moves for the year, emphasizing the significance of being proactive for the 2024 tax season. Sean also discusses the value of a year-round approach to taxes and the in-house services by episode sponsor, YFP Tax, showcasing the value of personalized, holistic tax planning.
About Today's Guest
Sean Richards, CPA, received his undergraduate degree in Corporate Finance and Accounting, as well as his Master of Accountancy, from Bentley University in Waltham, MA. Sean has been a Certified Public Accountant (CPA) since 2015 and is currently pursuing his Enrolled Agent certification. Prior to joining the YFP team, Sean was the Senior Treasury Manager at PRA Group, a global debt buyer based in Norfolk, VA. He began his career at American Tower Corporation where, over 10 years, he held several positions in audit, treasury and accounting. As the Director of YFP Tax, Sean focuses on broadening the company’s existing tax planning and preparation operations, as well as developing and launching new accounting offerings, including bookkeeping, payroll, and fractional CFO services.
Mentioned on the Show
YFP Tax Tax Checklist Your Financial Pharmacist Your Financial Pharmacist on Facebook Your Financial Pharmacist on Instagram Tim Ulbrich on LinkedIn Sean Richards on LinkedIn YFP Disclaimer YFP Newsletter Book a discovery call with Tim Baker -
Hosts Nate Hedrick and David Bright discuss the benefits of Real Estate Professional Status (REPS) - what it is and how you can use it for tax advantages.
Summary
In this episode, pharmacists and real estate investors Nate Hedrick and David Bright share insights into balancing pharmacy work with real estate investing. The podcast explores part-time pharmacy work and real estate strategies, emphasizing the benefits of Real Estate Professional Status (REPS) for tax advantages. How much time you spend and what you do with that time in real estate can open a lot of doors and create some enormous benefits, particularly if you can meet criteria as a REPS. Nate and David highlight the importance of tracking hours for tax benefits, and consulting accountants for sound tax strategy advice for anyone interested in REPS.
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
Subscribe to the YFP Newsletter YFP Disclaimer Your Financial Pharmacist 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 YFP Tax YFP Real Estate Investing Podcast: Episode 109 YFP Real Estate Investing Podcast: Episode 113 -
Kristen & Nate Hedrick share their journey paying off $250k student loan debt from the motivation to the role of side hustles and real estate investing.
Summary
How do you go about aggressively paying off a $250,000 student loan debt without feeling overwhelmed? To help answer that question, YFP Co-Founder & CEO, Tim Ulbrich, PharmD, is joined by fellow pharmacists Nate Hedrick, PharmD, and Kristen Hedrick, PharmD, BCACP. The Hedricks tell us how they successfully paid off over $250,000 in student loan debt, their motivation for tackling that debt, the pivotal moment that sparked making repayment a priority, and the role a side hustle and real estate investing played in their journey. After a brief history of Kristen’s background, listeners will hear what motivated the couple to take an aggressive stance on their debt repayments, how a life-changing event and one book altered their financial philosophy, and how the pandemic helped them focus on their strategy. Nate and Kristen share their reasons behind paying their debt off now instead of putting their money toward investments and how they found an additional $3,443 per month to make their goal attainable by reducing expenses and increasing their income. This earnest conversation takes us through the possibilities of working full time, raising a family, making investments, and paying off a huge debt, all at the same time. Nate and Kristen talk about their life after paying off this debt and share some advice for pharmacists who may be struggling with a similar debt situation.
About Today's Guests
Nate and Kristen Hedrick met at Ohio Northern University and were married in 2013. Nate is a pharmacist with Medical Mutual and a real estate agent with Berkshire Hathaway. Kristen is a pharmacist with Bon Secour Mercy Health. Together, they graduated with over $300,000+ in student loan debt. They enjoy visiting National Parks as a family. Today they live in the suburbs of Cleveland, Ohio, with their two daughters, Molly and Lucy, and their rescue dog Lexi.
Nate is also the co-host of the YFP Real Estate Investing Podcast.
Mentioned on the Show
Subscribe to the YFP Newsletter YFP Disclaimer YFP Planning: Financial Planning for Pharmacists Schedule a free Discovery Call with YFP Planning YFP Real Estate Investing Podcast Rich Dad Poor Dad: What the Rich Teach Their Kids About Money That the Poor and Middle Class Do Not! by Robert T. Kiyosaki Real Estate RPh YFP Real Estate Concierge Service BiggerPockets Your Financial Pharmacist YFP Real Estate Investing Facebook Group Nate Hedrick on Instagram Nate Hedrick on LinkedIn -
Tim Ulbrich, YFP CEO, shares 5 key moves for financial success, emphasizing automation, proactive tax planning, document organization, and continuous learning.
Summary
In the first episode of the New Year, YFP CEO and financial educator, Tim Ulbrich, unveils a financial roadmap for 2024, emphasizing five key moves for achieving financial success and living a rich life. Tim highlights the pivotal role of automation in financial planning, proactive tax planning, the importance of organizing financial documents and the significance of continuous learning. He shares his personal financial goals and the systems he uses to organize and prioritize his financial goals. Tune in to gain insights and actionable steps for mastering your finances in 2024.
About Today's Guest
Tim Ulbrich is the Co-Founder and CEO of Your Financial Pharmacist. Founded in 2015, YFP is a fee-only financial planning firm and connects with the YFP community of 15,000+ pharmacy professionals via the Your Financial Pharmacist Podcast podcast, blog, website resources and speaking engagements. To date, YFP has partnered with 75+ organizations to provide personal finance education.
Tim received his Doctor of Pharmacy degree from Ohio Northern University and completed postgraduate residency training at The Ohio State University. He spent 9 years on faculty at Northeast Ohio Medical University prior to joining Ohio StateUniversity College of Pharmacy in 2019 as Clinical Professor and Director of the Master’s in Health-System Pharmacy Administration Program.
Tim is the host of the Your Financial Pharmacist Podcast which has more than 1 million downloads. Tim is also the co-author of Seven Figure Pharmacist: How to Maximize Your Income, Eliminate Debt and Create Wealth. Tim has presented to over 200 pharmacy associations, colleges, and groups on various personal finance topics including debt management, investing, retirement planning, and financial well-being.Mentioned on the Show
January 8th webinar YFP Bonus Episode: How A Couple Left Their Careers to Travel the World YFP 079: Is It Time to Redefine Retirement w/ Nick Ornella IRS Form 1040 (2023) YFP 309: Top 10 Tax Blunders Pharmacists Make YFP Tax Subscribe to the YFP Newsletter I Will Teach You To Be Rich by Ramit Sethi Financial Peace University Ally Banking YFP Disclaimer Tim Ulbrich on LinkedIn - Mostrar mais
