Day: March 23, 2023

On this episode, sponsored by APhA, YFP Co-Founder & CEO, Tim Ulbrich, PharmD, and YFP Co-Founder & Director of Financial Planning, Tim Baker, CFP®, RLP®, RICP®, celebrate the 300th episode of the Your Financial Pharmacist Podcast! From student loan repayment strategies and investment planning to wealth protection and entrepreneurship, this podcast has strived to provide valuable insights and practical advice to help pharmacists achieve their financial goals each week. Tim and Tim reflect on some of the most memorable moments and guests from the past 299 episodes.

Episode Summary

YFP Co-Founder & CEO, Tim Ulbrich, PharmD, is joined by YFP Co-Founder & Director of Financial Planning, Tim Baker, CFP®, RLP®, RICP®, for a special episode of the Your Financial Pharmacist podcast. This week, Tim and Tim are celebrating the 300th episode of the podcast! After taking a moment to express their gratitude for the YFP team, the YFP community, guests, and listeners, they take some time to reflect on the first 299 episodes and just how far the Your Financial Pharmacist podcast has come in the last six years. 

Tim and Tim share some of their favorite moments from the show, illustrating the range and breadth of personal finance topics covered along the way and how each relates to the personal finance journey and financial planning for pharmacists. From student loan repayment strategies to wealth protection and entrepreneurship, the podcast has covered it all! Highlights include a snippet from the very first episode of the podcast, how YFP has fostered a community by sharing pharmacist debt-free stories, and stories of pharmacists working towards and achieving financial independence. Listeners will hear Tim and Tim examine common threads throughout the years, including the importance of balancing future financial needs with living a rich life today, entrepreneurship as it relates to personal finance, the emotional and behavioral side of the financial plan, and the importance of philanthropy and giving as part of the financial plan. Tim and Tim close with another sharing of gratitude and hint at plans for the future of the Your Financial Pharmacist Podcast.

Links Mentioned in Today’s Episode

• Join APhA – Get 25% Off Your Membership with Code: YFP
• YFP 001: The Genesis of the Your Financial Pharmacist Podcast
• YFP 031: One Pharmacist’s Journey to Paying Off $211k in 26 Months
• Your Financial Pharmacist
• YFP 134: One Couple’s Coast FI Journey
• Die With Zero: Getting All You Can from Your Money and Your Life by Bill Perkins
• YFP 227: Why Tim Baker, CFP® Bought a Depreciating Asset 
• YFP 215: Know Yourself, Know Your Money with New York Times Bestseller Rachel Cruze
• YFP 289: Building Pricklee with Pharmacy Entrepreneur Kun Yang
• YFP 180: How Allyson Used Her Pharmacy Skills to Build a Natural Skincare Company
• YFP 194: How Karine Used Her Pharmacy Skills to Create a Successful Healthy Dessert Business 
• YFP 293: Employee to Entrepreneur with Dr. Victoria Reinhartz
• YFP 217: How Kelley Used Her Clinical Expertise to Build a Business
• YFP 276: Why Giving, Philanthropy, and Serving Are Core Parts of This Pharmacist’s Financial Plan
• YFP 297: Introducing The Pharmacy Innovators with Corrie Sanders of Huna Health
• Send in your ideas and guest suggestions to: [email protected]
• Your Financial Pharmacist Disclaimer and Disclosures

Episode Transcript

[INTRODUCTION]

[00:00:00] TU: Welcome to a special episode of the Your Financial Pharmacist Podcast. We are thrilled to be celebrating our 300th episode today, and we couldn’t have done it without you, our listeners, and supporters. Over the years, we’ve covered a wide range of personal finance topics tailored specifically to pharmacy professionals. From student loan repayment strategies and investment planning to wealth protection and entrepreneurship, we’ve strived to provide valuable insights and practical advice to help you achieve your financial goals. 

To mark this milestone, we have a special episode lined up for you today. Tim and I will be reflecting on some of our most memorable moments and guests from the past 299 episodes. So sit back, relax, and join us as we celebrate 300 episodes of the Your Financial Pharmacist Podcast. 

[EPISODE]

[00:00:51] TU: Today’s episode of Your Financial Pharmacist Podcast is brought to by the American Pharmacists Association. APhA has partnered with Your Financial Pharmacist to deliver personalized financial education benefits for APhA members. Throughout the year, APhA will be hosting a number of exclusive webinars covering topics like student loan debt payoff strategies, home buying, investing, insurance needs, and much more. Join APhA now to gain premier access to these educational resources and to receive discounts on YFP products and services. You can join APhA at a 25% discount by visiting pharmacist.com/join and using the coupon code YFP. Again, that’s pharmacist.com/join and using the coupon code YFP. 

Tim, episode number 300. Can you believe it?

[00:01:41] TB: I can’t believe it, Tim. It’s kind of surreal, to be honest. I thought when we started this thing way back in the day, that this would be a great project to dedicate some time to, to kind of lend our voices to the topic. But fast forward to today and where the podcast has gone and some of the things that we’ve covered and some of the guests we’ve had on, it’s kind of crazy. What are your thoughts?

[00:02:05] TU: It’s been an amazing journey. We’ll talk about some of the backstory. We’re going to feature some of our favorite moments from the show over the last, what now, six and a half plus years of doing this. Excited to revisit some of those exciting moments and some of the themes of the show. I don’t think you or I would have ever predicted where this would have gone, over a million and a half downloads of the show. But I think more than anything, that number I think certainly is an achievement. 

But what gets you and I most excited is what we hear from individuals of the impact that the show is having. Hey, I listened to this episode and I took this action or it ignited a conversation between my spouse and I or connected me with another pharmacist or got me thinking in a different way. That’s the piece that gets me fired up, and I think the reason we started it in the first place and the reason we’re continuing to do it today.

[00:03:02] TB: Yes. I mean, it is such a – we’ve said this before. It’s such a great medium to get out there and kind of have listeners see a certain side of you and be able to educate, but also to share and be vulnerable. One of the surrealist things, and I don’t do them anymore, Justin Woods does, our Director of Business Development, but I used to get on calls with prospective clients that were looking for help on their financial plan. They would say things like, “Hey, Tim. I feel like I know you because I’ve been listening to the podcast for the last two years,” or whatever it looks like. After I – the red kind of drains out of my face. It is kind of quite flattering, and you kind of sit in front of this mic and this camera. You don’t really think that when you hit record that it really has an impact. 

But I do think that what YFP has done, and I think the major tool in which it has done this is through the podcast, is really moving the needle for financial education, financial literacy, hopefully, wellness in the pharmacy profession. I still think that we have a lot of work to do. I’d be interested to ask you what you think is next maybe at the end of the podcast and where we’re taking this thing. But, yes, I’m just super excited. I’m super grateful. I think I’m kind of like – I guess I’m technically listed as the cohost, but I kind of just show up, Tim, to be honest. I do my research on what I need to do. 

But I know you and Caitlin and Rose, so I want to give them flowers, just do such a great job of prepping. There’s so much work that goes into this that is kind of behind the scenes. Really, without you guys, we’re not at episode 300 in it. From my perspective, it seems seamless, although I know it is not. So I just want to make sure that I express my gratitude to you and Caitlin and Rose over the years because I think it’s been a team effort. As a fan of the show, as a cohost of the show, so to speak, I don’t take that lightly.

[00:05:01] TU: Yes. I’m glad you mentioned that here, Tim. I had wanted to say some thank yous at the end. But this is a great place to do it. Because when we started the show July 2017, we had talked about what would be the frequency, right? It’s going to be weekly? It’s going to be monthly. It’s going to be every other week. We had several folks tell us like, “Man, don’t do weekly. That is a huge commitment.” 

I think in the only style that Tim Baker does, it’s like, “Hey, let’s jump in the deep end and figure it out.” We were doing A to Z, right? Editing, content planning, topics. But that would not be possible. We would not have been able to sustain that rhythm of weekly episodes here now at episode 300 without Caitlin’s help, without Rose’s help, without the team’s help, without your engagement, without the guests that have come on the show, the people that continue to listen, the folks that ask questions. So it really has been a community effort, and it’s been an incredible honor to be able to sit in the seat. 

One of my favorite parts of the show, we’ll talk more about this throughout the episode, is I hadn’t really thought about like, hey, 300 episodes means 300 conversations that we get to be a part of, right? Sometimes, that’s a sneak peek into a story, a journey of financial wins. Sometimes, that’s media, another pharmacy entrepreneur, or an investor, or an expert on a topic. I get incredible benefit out of just sitting in the seat and learning from the guests that we bring onto the show each and every week. So I also want to give a shout-out to the many, many guests that we’ve had on the show. That’s something that we’re certainly looking to do in the future as well. 

Tim, I want to bring back a little bit of humor as we get started here. But I was going back through some email in prep for this episode and found a string of emails from you and I back and forth, fall 2016. This would be before we officially partnered on the business or even making the decision on the podcast. We were talking about what are some name ideas. What are some taglines? What are some topic lines or topic ideas as it relates to the show? Some of the ones we threw out there are Pills and Bills Radio with Tim and Tim, Scripting Financial Freedom, Tim and Tim and the money, Your Financial Script. 

Then all of a sudden, I remember this vividly, I was on vacation with my family in Hilton Head. You and I were talking on the phone, and you said, “Why don’t we call it the Your Financial Pharmacist Podcast?” As simple as it sounds, like that was a very pivotal moment in the journey.

[00:07:26] TB: I think – I don’t know this for sure. But like we both kind of had two separate brands. We were doing very similar types of things. Obviously, you with education and the blog, and me with kind of working more one-on-one with pharmacists on their financial plan. But I think a lot of the underlying beliefs and kind of vision and direction was there. You’ve never said this, but maybe it was more obvious to you because like I think you had –

[00:07:54] TU: It wasn’t. Yeah. It wasn’t.

[00:07:56] TB: Yes. I don’t know. For me, like I love Script. I love Script Financial. That was the original name of my firm when I launched. It’s funny how much time you spend on kind of trivial things like logo and colors and things like that, which are they’re important. But you kind of overweight that. It’s kind of the same thing with this when I’m like, “Tim’s done a really good job of like developing a following in a very short time, and I don’t think I have much of an ego.” I’m like, “Why don’t we just use your banner and use kind of the goodwill that you’ve created?” 

I kind of think you’ll remember because you were at, yes, Hilton Head. I think – I don’t know. Was it a phone call that I – because I kind of remember you sitting on like a back step or a front step, and I was having this conversation. 

[00:08:41] TU: Yes. 

[00:08:45] TB: It was kind of like that aha of like, “Duh, why didn’t we think of this 40 emails ago?” Yes, it is kind of funny. Sometimes, it’s like Occam’s razor, right? It’s simplest thing that’s in front of your face, so yes. But some of those names. I think we were kind of trying to trade a little bit on like the Mike and Mike, the ESPN tandem that they’re not together anymore. But I think using the YFP brand just made the most sense in every facet of what we’re trying to achieve. 

[00:09:18] TU: So as we celebrate episode 300, as I mentioned, we’re going to go back to some of the most memorable moments from the show and highlight the various themes that we’ve covered over the past six-plus years. It all started with episode one back in July of 2017. Let’s take a listen where we talk about the origins of the show. 

Hey, everybody. Welcome to the very first episode of Your Financial Pharmacist Podcast. We are so excited to be here. It’s been a long time in the making, and we can’t wait to get started on this journey. In this very first episode, we’re going to discuss the origins of this podcast coming to life, our individual journeys to the world of personal finance, why we care about this topic so much, and what we have coming up and planned for future episodes. 

So to the Your Financial Pharmacist community, I know there’s lots of you out there that have been following the blog over the past few years. So I am super excited to be bringing on Tim Baker to this journey. Tim is a certified financial planner, and he’s doing this business of personal finance and advising the right way. He’s a fee-only advisor, and he has a passion for working with pharmacists. He’s going to add tremendous value to this podcast and to the Your Financial Pharmacist community as a whole. So I can’t wait for you to get to meet him and know more about him. 

So, Tim, you remember that time we met at Bob Evans off of I-71 in Mansfield, Ohio. How random was that?

[00:10:43] TB: Yes. It was great. It was a magical breakfast. I think we sat down. Back up a little bit, we met each other actually via Twitter. That’s his thing. I think we realized that we were doing a lot of the same things, and we had a lot of the same passion. So, yes, that breakfast then in Bob Evans was great for me. I think it kind of was the first step in this direction of kind of partnering up and really bringing great content under the Your Financial Pharmacist brand and really build out the community. So I am super excited, Tim. I’m really ready to kind of begin this journey with you and get this podcast off the ground.

[00:11:30] TU: Tim, I got to admit. That’s a little bit uncomfortable to listen to. I can hear the nerves and excitement in our voices. We had no idea where things were going to go at that point, as we’ve already mentioned. But we knew that the podcast was a good next step after we had that first meeting. We had this shared passion of personal finance and pharmacy. But that takes you back, right, hearing that?

[00:11:50] TB: It does and it was left out of that. I actually turned on the first episode, and you hear like the intro. It’s so different now. It’s a lot better now. But like, yes, I definitely do not go back and listen to those. But at the time, I’m like, “Hey, this is pretty good.” I’m sure, and given everything, like it’s not bad. But it goes back to that point of, and you’ve been posting this lately on LinkedIn, you just got to start. The more that you get paralyzed in your brain, the less you’re going to learn. 

Obviously, 300 episodes in, I don’t know if I’m any more articulate or stutter any differently than I did then. But it was just so unknown. I think 300 repetitions later, I wouldn’t say it’s polished because – I will admit this. I edited, I think, the first 50 episodes of the podcast. I would take way too much time, Tim, to kind of take out like my ums and some of the imperfections. If you go through, like you’ll hear that probably episodes like 10 through 40 or something like that. But it’s just not genuine. It wasn’t really genuine. This is how I talk. I say lots of ums. I don’t say my geez. 

So I think that it was kind of a lesson for me. It’s like don’t try to be something that you’re not. In a world where I think everybody can kind of give you praise or give you like criticism, you kind of have to like filter that out. I think sometimes, like we’ll hear something of like, “Hey, you suck.” That sits well like more with you than like some of the other things that we hear that are positive. That’s kind of been part of the journey too, just being authentic. But it’s just kind of crazy to hear that, which I don’t know if I’ve ever listened to that since that episode, outside of doing the editing. I feel like we’ve come a long way.

[00:13:41] TU: Tim, one of the things we focused on very early on in the show, and we’ve continued, is sharing pharmacist stories. We really wanted to do this for a couple reasons. One, the topic of personal finance can be pretty dry. Two, we really wanted to foster and create a community where pharmacists were empowering and motivating one another. It’s one thing for us to teach and preach, and we certainly do that sometimes. It’s another thing to teach concepts and principles through stories. I think it really helps foster that sense of this isn’t just you or I delivering material. This is us as a collective community of pharmacy professionals coming together to help empower one another on the path towards achieving financial freedom. 

That was a really intentional decision, and I think we have seen the fruit of that throughout. Let’s listen into one of the many debt-free stories that we have featured. This is episode 31 with Adam and Brittany Patterson, starting with Adam talking about making the mental transition from student to new practitioner.

[00:14:49] AP: I would say throughout pharmacy school, I tried to mentally prepare myself going towards graduation. Listen to everybody tell me, “Hey, you’ll be making six figures. Don’t worry about it.” What a lot of people don’t consider at the time was that we actually don’t bring home six figures at the end of the day. They don’t factor in all the taxes and everything that cuts out of your paycheck. 

I didn’t really have a plan at how I was going to tackle the debt but knew that I had a grace period, six months, to figure it out before I started making payments. My wife and I always joked about how much it would take us or how long it would take us to pay off our loans. But it wasn’t until close to the end of the grace period that it all started to settle in. I think once we actually sat down and started to think about how much money we would owe in the long run, looking at the debt, looking at how much interest would build up, that we really started to focus on attacking that debt. So at first, I would say at graduation, it really doesn’t set in until that first payment is due.

[00:15:53] TU: Tim, you know the Pattersons well. This journey that was featured on episode 31 was when Adam and Brittany had paid off $211,000 of debt in 26 months. This really was a catalyst for their family and for their financial plan, right?

[00:16:08] TB: Yes. Shout out to Adam and Brittany. I hear Adam’s voice, and I’m like, “Man, I like that guy.” I haven’t talked to him in a while, and I need to reach out and see how they’re doing. They’re the face of our website. So you see their face when you go to yourfinancialpharmacist.com. 

Yes, I mean, they were really at the jumping-off point in terms of like, “Hey, what’s next? And how do we transition?” They’re just a great example of some of the behavioral finance that we’ll talk about some more in this episode. But just great – I was more thinking of it of like, as I’m listening to Adam, just some of the great people that I’ve got to work with, got to converse with, got to break bread with. They visited me and my daughter when they came through Baltimore, so just great people. 

But, yes, they’re just another great example of, I think, how they’ve approached, again, this mountain of debt and then how they’ve, I think, done a great job of transitioning from that. The big thing from them I think when they started working with me, they were renting a house. Then they bought a beautiful home there outside of Atlanta and Georgia. It’s just kind of awesome to see, to be honest, like the progress. I’m kind of more stuck not necessarily on the numbers but on like the people and the relationships that you develop. 

So, yes, I definitely jotted down a note that I got to reach out to Adam and Brittany and see how they’re doing. Hopefully, we can meet up with them soon. But just another great conversation and another great example of just being intentional with your financial plan, which I know is a common theme that we try to hit on.

[00:17:47] TU: Yes. That’s what I really remember from their journey. I’m so glad you’ve mentioned the personal relationship side of it, right? Because, I mean, the numbers on the debt repayment or the savings and investing, we love seeing that progress. But it’s about what does that mean for them and their family and living a rich life. It’s been fun to watch with the Pattersons. We’re going to come back and talk about that through the episode. 

Tim, one thing Adam said that really hit me was when he said, “I didn’t really have a plan for how to tackle the debt.” This is something that we hear on the regular. Maybe this is a little bit of a pat on our own back, but it feels like the conversation in pharmacy around student loans has become more nuanced in a good way, right? Pharmacists today in 2023 are asking us questions about student loans that demonstrates a level of baseline knowledge that we weren’t hearing back in 2017.

[00:18:38] TB: There’s a couple of shifts that are going on there. One, back in the day in 2017, 2018, 2019, there was a lot of pain around student loans and a lot of pain coupled with where the heck do I even start? Like, “How do I even take a proper inventory?” Then I think as the years went on, it was a pain. But I have a good baseline knowledge of what I have and what I need to pay back. But like how do I – what are the Xs and Os to do that? 

Now, since the pandemic, obviously, one of the things that’s happened since we launched the podcast, among other changes that have happened, the long pause that we’ve had, I think it shifted. We don’t hear a lot of pain around student loans because they kind of been out of sight, out of mind. I think that will shift back when the loans come back online and people are paying. But it’s kind of just been like this hibernating bear. But I would agree with you, Tim. I think I’d like to, hopefully, take some credit of why that shifted a little bit in terms of definitely a more nuanced, a more thoughtful approach to inventory or even like talking about different repayment plans, which were just non-existent before and, be honest, non-existent even in the financial planning world because a lot of this was just so new. 

So, yes, I mean, a lot of this is, obviously, Xs and Os. But I think when it comes down to what we’re trying to do is soothe the pain that a lot of our listeners had at the time and I still think will have once the pause basically is over. But, yes, it’s kind of been interesting to see that transition over time to where we’re at today. Then, again, in a couple of months, what that will look like when the payments start coming back on.

[00:20:28] TU: Again, shout out to the Pattersons. Grateful for their contribution, sharing that story. That is one of many debt-free stories that we’ve shared on the podcasts. We’ve covered student loans A to Z. So if anyone’s looking for either content, knowledge around student loans, or debt-free stories and journeys, go to some of the throwback episodes that we’ve had throughout the show. 

So student loans we’ve covered in detail on the show, a big part of the early days of YFP. But we’ve also focused heavily on stories of pharmacists that are working towards financial independence and living a rich life today, while taking care of their future selves. Let’s take a listen to one financial independence journey that of Cory and Cassie Jenks that we featured on episode 134.

[00:21:15] CJ: Yes. So you’ve had a couple of great guests talk about their FIRE journey, but it’s essentially financially independent, retire early. So you save enough, and the number that is commonly used is you save enough till you have 25 times your annual expenses. Then theoretically, you can withdraw that indefinitely at a four percent rate. To get there, basically, you’re going to have to really bust it for 10 to 20 years, depending on what your savings rate is, depending on what your own spending rate is. 

As Mister Money Mustache and hundreds of other bloggers and people have shown, it’s a very viable path. I think that if we had found that in our mid-20s, before kids, like, okay, we could have sucked it up and both worked full-time hardcore to get there. But then we had a kid and realized we want to have time with him, as much as he can be a little pain. So I came across this idea of CoastFI, and so the FI being financially independent. This says that if you saved enough at a high rate for a short period of time early on in your life and career, you’re going to have the time and compound interest to have it grow to what you need it to be by the time you retire. So that if you hit this CoastFI number, you can scale back the work you’re doing. You can take a job that has a little bit more risk, knowing that you don’t need to continue to contribute to your retirement in order to hit that number. 

Now, I love how you like to personalize this idea of personal finance because traditional FIRE people would get angry at you for not just going all the way through. Maybe CoastFI people will get angry at us because our version of it is to try to get to a number. But then still work some in order to save some. I don’t think we want to hit a number and then stop. So our version is to like get to the number we want and then have the freedom to contribute a little bit less as our lifestyle changes with our family.

[00:23:20] TU: Tim, one of the reasons I want to bring back this story is I’ve stayed in touch with Cory and Cassie. Great people, shout out to them. This was really a key pivotal moment for them and their family, this journey that they run towards financial independence and being intentional with the financial plan, just like we’ve talked about with the Pattersons. Since that point, because of the groundwork they had laid, Cory has been able to pursue his entrepreneurial efforts as an author, comedian, speaker. Cassie has been able to shift jobs to be more in alignment with what she was looking to do, which has really given them a lot of the flexibility that they were looking for with a young family, to be able to have that time together but also to be pursuing the things that they wanted to be doing professionally. 

So I think that that is such a great example of the combination of the financial plan and what we’re ultimately trying to achieve. One example of many, Tim, of something you often say, which is, hey, we’ve got to find this balance between living a rich life today and taking care of our future selves. Why is this such a central theme for you, personally, as well as for our planning team that works with our pharmacist households all across the country? 

[00:24:35] TB: That’s a great question, Tim. So why is that important? I think like before I answer that question, when I was listening to Cory, I was just thinking like it was a little bit of the same conversation we had when we were on a recent road trip because you kind of had mentioned planning for your boy’s college and kind of going all the way to one end of like, “Hey, I had this experience of having a lot of debt, so I don’t want them to experience that.” For me, the thing that was screaming, as I was listening to Cory speak and then kind of relating that to our conversation in the car, was planning is greater than the plan. What I mean by that is like it’s kind of the Mike Tyson quote. It’s like you have a plan until someone punches you in the face, or life happens, or you have a kid, which those are things. Having a kid, those are things that have happened since like we started the podcast, for me at least. I know you’ve added a couple to your crew. 

So it’s more about planning and less about the plan because the plan is going to change because change is an inevitable part of our life. I think the better that we can cope with change and plan around that, the better we will be. But the answer to your question about live a rich life today, live a rich life tomorrow, I think that a lot of the – and you’re starting to see it swing back the other way. A lot of the mantra is like save, save, save. Have enough for retirement and make sure you’re doing all these things for like the 30-year older version of yourself. 

But then there’s a lot more content and stuff out there. What was the book that you’ve recently read? Die with Zero or whatever. That’s kind of shifted that back. I think like the dangerous thing is that if you follow those kind of rules of thumb, you get to the end of the rainbow and you retire. Say you retire with five million. But if you would have taken that trip or those trips throughout the course of the year, or if you would have taken that one day a week to kind of work on a side hustle or spend time with your family, maybe you retire with two or three. 

To me, like the question I would ask the client would be like, “Well, what’s the point? What are we really trying to achieve? Is it to amass a bunch of ones and zeros in a bank account? Or is it to really live a rich life as you age through your 20s, 30s, 40s, hopefully, to your 100s?” I think that because we get so busy, we’re on to the next thing. Pharmacists are very type A. It’s, “Okay, I’ve done this. What’s next? Okay, I’ve done this. What’s next?” But I think what planning really does or I think if it’s done well, it really allows space for a conversation of is this what we really want. Is this a wealthy life? 

I think we can – this was me completely. I was raised, and I love my parents. But I was raised that the key to success or happiness, if you want to intertwine those two, is, Tim, you have to get the best grades that you can get to get into the best college that you can get into, to then graduate with the highest GPA, to get the best job, to make the most money. I realized in my first probably 30 years of life that like that didn’t necessarily add up to me, that I was often happiest when things were simpler, when I wasn’t making a lot of money. I had a lot more control of my time. I think it really forced me to kind of question and to evaluate what were the important things in my life. 

Unfortunately, especially if you kind of get into that trap of, man, I’m working 40, 50, 60 hours, there’s no capacity to really question am I on the right track or not. Sometimes, like it takes you to do that. Sometimes, it’s you and a partner. Sometimes, it’s a third party, an objective person like a therapist, like a financial planner, maybe a priest or a minister or whatever to kind of ask those pointed questions and to challenge the paradigm in which you are in. 

I’m happy to see that a lot more of the content or some of the discussion around this is not to – again, I kind of think about corporate America. Right or wrong, but corporate America is running a marathon at a sprinter’s pace, and it’s really not a sustainable thing. So whether that’s your profession, whether that’s the way that you’re spending money, the way that you’re spending your time, I really think that question of are we living a wealthy life today or are we living a wealthy life tomorrow. I think having balanced between those is such an important question to ask yourself, as you are kind of proceeding through life. 

Because I know, for me, like there’s been parts of my life where I’m like – it’s kind of like, all right, when you’re little, you kick your soccer ball into the sticker bushes, and you just stick your head down. You’re running and you get out as quickly as you can. Then you take some lumps. But sometimes, we just get stuck in those thorny bushes. You wake up and you’re 40 years old, 50 years old, 60 year olds. You’re like, “What the heck am I doing?” So I think being self-reflective, it’s really about that more than anything. 

[00:30:02] TU: Yeah. Tim, you’ve role-modeled this firsthand. Let’s take a listen back to episode 227, where we discuss this further, right? How much is enough, the importance of balancing experiences today with the future. This included your decision to buy your motorhome. Let’s take a listen.

[00:30:19] TB: One of the things I say to prospective clients, we might go through the wealth-building stage of the financial plan, and we’ll do a nest egg calculation that says, “Hey, Tim. You need five million dollars to retire.” That’s typically where they look at us like we have five million heads, right? Because it’s a big number that’s in the future that doesn’t really mean anything to me. So we go through the process of kind of discounting that back to a number that says, “Okay, if you’re putting this into your TSP or this into your IRA or this into your 401(k) a month, you’re on track, or you’re off track, right?” So we can kind of break that down into more of a digestible number to see if we’re trending to that goal, given a handful of assumptions. 

But the point of this story is if we do work together for the next 30 years, and you don’t have five million, you have 7 million, 8 million, 10 million, whatever that is, that’s great. Those numbers are bigger than five million. But if you’re miserable because you look back at that list of all the things that you wanted to do over 30 years, 20 years, 10 years, whatever that is, and you haven’t done anything, and you’re miserable because of it or you’re disappointed, the question I would ask you is what’s the freaking point?

[00:31:31] TU: That’s right. 

[00:31:33] TB: Why get this education? Why earn this money? Why pay down this debt? Why invest or whatever if we’re not going to intentionally direct it to the things that matter to you most? I don’t think that I’m going to be on my deathbed. I’m going to say I wish I would not have bought that RV. I just don’t think that in my heart of hearts because I just think about the reaction that my daughter and my niece has had, just when we pulled that up. Even the two camping trips that I had, I think I snapped a few pictures and texted them to you, Tim, even in our first camping trips. It’s going to be an adventure. 

To extrapolate that out, like that’s our lives, our lives, our adventures. But we have to be willing to take it and seize it. I think that’s what life planning really tries to get to the surface is what is that adventure and taking that road and not necessarily adapt to a paradigm that’s not yours.

[00:32:29] TU: Tim, that was great stuff. It has been a memory maker for your family. 

[00:32:33] TB: Yes. I was getting a little teary-eyed listening to that because it’s also like a good reminder for me to be completely honest. Sometimes, Shane and I will look at it. I’m like, “Man, is this worth it because they say it’s just a money suck?” But then when you look at it in totality, like just the things that in the short time that we’ve had it, it’s been a game changer. I don’t know, it’s – listen to that. The two things that were kind of evident to me is when I repeat myself a lot. So I say a lot of the same things over and over again, which I don’t think this is necessarily a bad thing. It’s just kind of like part of my messaging. 

But also, like it’s a reminder. Because sometimes, like – and again like we’ve asked the question, even since we got it. Man, is this worth it? It’s a lot of money. Gas prices have gone up and all that kind of stuff. But it is. I mean, we recently changed where we store it, and I’m driving it from one to the other, and I’m just getting so jacked up. My son will see it parked out front. He’s like, “Oh, are we going camping?” He just lights up. He’s like, “I want to go camping.” I’m like, “No, buddy. We’re not going to go camping until it’s a little bit warmer.” He’s like genuinely upset. 

So, yes, we have a lot of plans for it. Obviously, we have to make sure that we budget and we have our plan built around it. But I would reiterate the same thing that I had said is like I don’t think that I’m going to be on my deathbed saying like, “I wish I wouldn’t have done that.” I think it’d be the opposite. I wish I would have done it sooner. I wish I would have done it longer or did more trips. So, yes, I think it’s just so important too. 

That’s the thing that I really enjoy about the work that we do after the podcasts turns off, and people say, “Hey, I want to work with you guys.” I think our planners do a really good job of like bringing forward, yes, we got to do the Xs and Os and the technical stuff. But bringing forward like that trip that you want to take or this goal that is not necessarily – it’s money-adjacent, right? Because a lot of the things we have to like plan the dollars for, but it’s not necessarily like traditional investing or an insurance policy. 

I think those things are just as important. I don’t know if a lot of planners feel that way. But to me, if you have that trip to Paris or the Pacific Northwest out there, I’m like, “Where’s the money for that? Let’s get this going. Let’s do this, and let’s cross it off the list and then move on to the next one.” 

[00:34:57] TU: Great stuff. One of the things I mentioned earlier, Tim, is the joy that it’s been to get to know some of the guests that we’ve had on the show. Many of which have led to some awesome friendships and collaborations and just a ton of fruit that has come from that. Most of our guests have been pharmacists. But we’ve had the opportunity to interview several New York Times bestselling authors, gurus in personal finance. This has been an honor. I mean, it’s been a ton of fun just to learn from these folks. I’ve been amazed at how gracious people can be with their time. 

Let’s take a listen back to my interview, one of these with Rachel Cruze, episode 215, where she discusses the emotional and behavioral side of the financial plan, including how we can write our own financial story.

[00:35:42] RC: When there’s so much hope, and I think even the money piece of my message that I communicate with people, it’s like no matter what mistakes you’ve made, yes, maybe you do have a ton of debt. So on a more logistical side, yes, you have a deeper hole to dig out of than the person next to you. But no matter what, you get to make decisions to say, “No, I actually want to change how I view something or the habits around money.” 

The same is true with your classroom. Some people – a lot of people, I would say, grew up in a hard environment when it came to money with their parents. But, yes, but you don’t have to just mirror that story, right? You can take charge of your life to say, “You know what? I’m not going to sit here and bash my parents, but I’m also not going to defend them. I’m going to just tell the truth and what happens. Here’s the truth. Okay, there’s some good stuff, and there’s some bad stuff. The bad stuff I can forgive, and I’m going to move forward, though, to choose something different for my life and my family.” 

I think it’s powerful, and I think we have to do that in all our parenting. I’m not a parenting expert, by any means. But I’m like, my husband and I have said, “Okay, this is our family. What are we going to choose to do in this? So the money piece is part of that.

[00:36:44] TU: Tim, I felt like this episode was oozing with wisdom, and I loved her authenticity. But one of the things she really hit on, we spent most of the conversation talking about, is really the behavioral side of the financial plan, the emotional side of the financial plan. She was alluding there to the money classroom that we grew up in, the money scripts that we hear growing up, and how much of an influence, whether we realize it or not, that that has on how we approach our finances today. 

So, Tim, from your perspective, either individually or also what you see with clients, like how important is that money classroom, is that money script in understanding what perspective you’re bringing into the financial plan to ultimately achieve the goals that you want to achieve?

[00:37:28] TB: Yes. I mean, we all have these money scripts. It could be money is the root of all evil, or money solves all your problems, or there’s – don’t trust people with money. There could be a lot of different things that based on your parents, their upbringing, and how they imprint that on you. It’s a big factor. I always kind of point to the Advisor’s Alpha Vanguard study, and that highlights if you work with a financial advisor. They’re supposedly returning three percent per year on your assets. Half of that is really attributed to not technical or any type of special analysis. It’s really like the behavioral coaching. 

That’s significant. I think that whether we want to believe it or not, like we all have these scripts, this baggage. It could be a positive thing. It could also be something that’s a limiting factor for us to really kind of achieve the goals that we have. I think that I’m dabbling more into it. I don’t think I’ve even told you this, Tim. But I’m dabbling more into like stoicism, so reading some books on stoicism and Marcus Aurelius. One of the big things that I’m pulling out of that is like you can really only control what you can control. A lot of our thoughts and a lot of the things that preoccupy us are things that are completely out of our control. 

It’s kind of what she was saying. You can think about your upbringing and how you were taught, and you can hold on to that and not let that go but probably to your detriment. It’s really about what are you doing today. What are the intentional actions that you’re doing today to better yourselves? That could be financially related. It could be something completely outside of that, just general wellness. 

I think that part of, again, working with a therapist, an advisor, whoever that is, is to kind of pull back some of that façade. Ask good question. Ask pointed questions. Challenge you to say again, are we really where we want to be. Or when you said this, let’s dissect that. Where’s that coming from? What is this? How is this serving you or not serving you? What are the limiting factors? 

We see this, I think, more often with people that are wading into spaces that they’re completely unfamiliar. So I’m thinking about like a business, and we hear things like impostor syndrome or – but it is true for that individual that is working a shift at a hospital or like a farm. All of that is there. So to me, again, it’s about reflecting on these behaviors and then questioning, does this serve me today. If it doesn’t, let it go, and then move on. I think building that as part of the plan is important. 

I was talking with one of our lead planners who’s doing a certification on financial like kind of psychology counseling. A lot of that is to kind of, again, uncover some of the things that she sees in clients to be able to better serve them or challenge them, when they utter X or Y in terms of how they approach their finances. So it’s really, really important the behavioral aspect of it. I think having the pulse on your own, which is very hard, is, I think, part of the building blocks of creating a plan that serves you and not others. So great episode.

[00:40:49] TU: Tim, as we’ve evolved in our own journey as entrepreneurs and have had the opportunity to connect with various pharmacists that are falling in a similar pathway, we quickly came to the realization that finance is a threat across so many not only individual stories but so many business stories. Whether it’s people that are dreaming about their idea, those that are in the thick of launching something or those that are looking to scale, it’s really hard to separate out our personal financial plan and goals from the business. 

That’s in part why we started featuring more and more of the show, I would say, over the last 100 episodes or so on pharmacy entrepreneurs, knowing that personal finance is a common thread to pharmacy entrepreneurship to that community. But also, given our personal passion for entrepreneurship, we wanted to give some examples and on some level inspire others with the many different ways that a pharmacist degree and license can be valuable. 

Let’s take a listen back to one of these pharmacy entrepreneurs’ interviews that we featured in 2022. That was Kun Yang, the Co-Founder and CEO of Pricklee Cactus Water, and he was featured along with his co-founder on Shark Tank.

[00:42:02] KY: I think there were a lot of moments. When I look back, it wasn’t like I think one specific – I mean, I do have a specific moment that I’ll share. But I think there were a lot of feelings that I think that felt familiar to me, even in that moment that I can kind of trace back and say, “Okay, this kind of makes a lot of sense.” So the moment really was walking into – I just finished our fellowship and program, and had started a new company. It was a spin-off of our existing fellowship business. I kind of just walked in and had really, really fallen in pretty deep appreciation for the opportunity and the people that I was working with. 

But I think one of the days I kind of walked in, and I looked around, and this was still pretty early on in our journey. But something hit me that I had always thought that through all the different career changes and exploration of getting to that point, that going this “non-traditional” path would have led me to move away from this feeling of “impostor syndrome” or feeling like everything that I was doing was actually getting more and more specific. It was because it was leading me to a point of clarity, right?

Really, over time, I realized that impostor syndrome and point of clarity had a lot to do with an understanding of who I wasn’t, as opposed to understanding of who I was. I think that’s something that probably a lot of us can relate to is growing up in your 20s and even maybe sometimes early 30s, you have a lot of ideas of maybe what you don’t like to do, right? Or what are some of the things that don’t excite you? What are some of the general things that do excite you? But you may not really understand specifically why or what you’re really good at to allow you to succeed in those roles. 

Again, all those feelings led to that one moment I walked in. I looked around in this open office setting, and I was kind of like, “Man, there’s a lot of incredibly talented and smart individuals around me. If I work really, really hard here for another 15, 20 years, I can really be like one of them.” These were at the time, again, all my heroes I looked up to that kind of forged the pathway for us before. 

I guess it hit me in that moment that there wasn’t a specific role that I could look at and say like that is exactly in specific what I wanted to do. I think that that was my – I call it a quarter-life crisis moment of all that impostor syndrome bubbling and kind of blowing up all at once, realizing that, “Wait a second. How could I have done all this and pursued all this specificity, only to feel this still in this moment?” There’s not much more specificity I could pursue. That was when it really kind of became an introspective question of like, “Is there something outside of pharmacy that I can apply my skills to still within the health and wellness space that we’re really passionate about, that I could find truth and clarity?”  

[00:44:37] TU: Tim, that was one of my favorite episodes of 2022 and just the opportunity to cross paths with Kun. We would later find out we’ve worked at the fellowship program. Shout out to the MCPHS fellowship program, Amee Mistry, who’s been our collaborator now five-plus years and some really incredible graduates that have come out of that program. One of which is being Kun. But just to hear his reflection on that episode of his quarter-life crisis of coming to this moment of, hey, my pharmacy degree and the experiences I’ve had are valuable. But that doesn’t necessarily mean I have to be identified by that or be identified by a traditional career path. I suspect maybe that connects a little bit with you as well on your own journey.

[00:45:21] TB: Yes. I think going back to Cory, like I think early on, Cory Jenks, like we definitely wanted to give a voice, more of a non-traditional path. I mean, you yourself, Tim, since we started the podcast, again, what’s changed? You’re no longer full-time in academia. You’re full-time with YFP, so more of a non-traditional. So I’ll preface this by saying like being an entrepreneur is not for everyone. I think that that’s important to say out loud because there’s a lot that goes into that. It’s not necessarily for every personality type. 

But I do think that, for me, personally, being an entrepreneur, I get a lot of juice and a lot of just energy listening to other entrepreneurs kind of share their story. This one in particular, obviously, we had them on the podcast and watched their Shark Tank episode. It’s very inspiring. I do think that one of the common things that comes out with a lot of these sources is the financial piece. That is a financial thread, whether it’s before, during, or even after the whole journey of being an entrepreneur. 

So I think, selfishly, we highlight some of the stories because like it’s part of the things that you and I are both interested in. I can hear my own story when I listen to Kun in this episode, and I’m sure a lot of other pharmacists that are going down this path. But I think that it’s another thing that for us to kind of give voices or to highlight. You don’t have to necessarily color within these lines. There’s a life outside of this. For some people, that clicks. For some, it doesn’t. These particular types of episodes, for me, personally, being a fan of the show, are just super inspiring. Again, I can hear my own story in a lot of them, so.

[00:47:13] TU: Yes. Tim, one of the things that comes to mind here is when we started doing more of these interviews, I’ve often shared with folks. I grew up in small business. We’ve had a family business. My dad’s been in business, advise businesses. I think that probably has stayed with me over time. But I just can’t get enough of talking with other entrepreneurs. What are you building? Why are you building it? What’s working? What’s not working? What are you learning about yourself and the journey? It’s incredible to have those conversations. 

One of my goals with these conversations was, hey, I’m not necessary expecting that any listener is going to listen to Kun’s story. Or I think about Allyson Brennan, the Founder of Emogene & Co. or Karine Wong, who founded My Guiltless Treats we had on the show, Victoria Reinhatz with Mobile Health Consultants, and the many stories we featured, Kelley Carlstrom and the awesome work that she’s doing. Not that a listener is going to say, “I’m going to go do exactly what Kelley’s doing.” But rather, it’s going to give them a different way of thinking, perhaps a source of inspiration or motivation of like, “I had no idea, like a pharmacist went that same traditional path that I went at one point or I am currently in.” 

If students are listening, and they went and did something that was non-traditional, they colored it outside of the lines. Again, we’re not suggesting that path is for everyone. But we want to give a voice to that, and I think we’re in a really exciting/disruptive time in our profession. Depending on how you look at disruption, it can be scary. That’s fair. But it also can be exciting. It means there’s opportunity for new ideas, new innovations to come to – and we’re seeing that out in the pharmacy entrepreneurship community. It’s really exciting. 

[00:48:55] TB: Yes. I mean and I think the writing’s on the wall. I would love to have maybe when I answer the question of like, “What’s next, Tim?” I actually have more long-form discussions about this, like the profession of pharmacy. I know there’s some other podcasts that, obviously, are strictly focused on that. But, yes, I mean, I think the writing’s on the wall for a lot of the things that we’ve been talking about with AI and Amazon and different legislative things that are out there that I think it is ripe for disruption. You can be on, “Hey, you embrace that,” or you could be on the, “I’m going to dig my heels in.” 

Yes, I think that when I look back at my journey before even meeting you, it was a podcast that I listened to over and over again. It was about financial planners that had a very similar story to me that were kind of leaving the traditional big siloed firm and doing it themselves. I’m like I remember having that like aha moment of, “I’m a pretty smart guy. I feel like I can figure this out.” I just took that leap. 

For me, and you see this in a lot of entrepreneurs, because unlike you, I didn’t grow up in that environment. I grew up in the environment of kind of what I was saying like, “Get the best job, i.e. the safest job.” Why would you ever like leave a steady paycheck to go start from zero? That’s a completely foreign concept in my family. I think for me is like once I made that switch, I kind of want to say like the chemistry of my brain change because, again, like I always talk, I said this on a recent post that you had, I was definitely that. A lot of pharmacists can relate to this. Every decision that I made, it was I’m going to dot all the Is. I’m going to cross all the Ts. I’m going to analyze every angle of this decision. Time will go by and I’ll be paralyzed by what should I do. 

Now, since becoming an entrepreneur, it’s really like I’m going to cannonball in and figure it out. I might swallow some water, but then I’m going to iterate, right? So I’m going to figure out what works or what doesn’t work. I’m going to save a lot of time doing that, and I’m still going to do a general analysis. But I think that mindset for me, I almost kind of equate it to like the chemistry in my brain. It’s like changed because and, again, I think you talk about entrepreneurship comes in a lot of forms. But it could be a side hustle. But it could be where you’re leaving your job in academia, and you’re doing this full-time. You’re uncapping your income potential. 

There’s just a lot of things that are attractive about it to me. Again, as a fan of the show and highlighting the stories, one, part of it is like I’m interested to see like what are people doing with our PharmD that’s related or even unrelated to the profession of pharmacy. What are some creative things that people are doing, and how is the profession going to pivot? Because I think to your point, it is ripe for disruption. 

So, yes, just super grateful to have, like I said, the individuals that you mentioned come on and share their story. I’m hoping to do much, much more of these in the future because they’re inspiring in the least, so. 

[00:52:14] TU: Yes. It’s so fun to give a voice to the stories here, the passion that comes through. One of the things I think I’ve shared with you, Tim, before, when I think about the traditional pie chart of the profession of pharmacy, right? You’ve got half or so that are in community practice. Maybe 20% or so that are in hospital practice, a smaller segment that’s an industry, smaller segment that’s in academia and research. Then that final five percent or so is very splintered between all these different opportunities. 

I think, if I had to put a crystal ball in the future of the profession, we’re going to see that splintered part of the pie chart become bigger and bigger with pharmacists pursuing more and more non-traditional options, which is exciting. The role of the pharmacist is an important one in our healthcare system. I think we’ve got some really cool ideas of things that our people are doing, and I have a feeling we’re going to reflect upon this period as one that was really disruptive in a good way for the profession.

[00:53:07] TB: Absolutely. 

[00:53:09] TU: So the last clip I want to share centers around the giving part of the financial plan. Let’s hear from pharmacist educator and Rising Suns Pharmacy Founder, Sarah Adkins, who came on episode 276 to talk about her why for giving, including the journey of starting a nonprofit pharmacy in Southeastern Ohio. Let’s hear from Sarah Adkins.

[00:53:30] SA: I was raised in the church. I think regardless of the spiritual realm in which you’re raised, a lot of my upbringing was about giving and making sure that those who were not as fortunate, that I gave to those people who were not as fortunate. I was taught that, I mean, since a young age. I think that, for me, that is – I don’t have a lot of money right in my – I never have needed that or wanted that. But I have time. Do I have time? That’s the question. 

[00:54:05] TU: That is the question. 

[00:54:07] SA: I think I don’t have time. But I definitely give wholeheartedly of my time is what I give. So I have given – it makes me feel good, truly. When I am at the free pharmacy, it is a lot like community pharmacy, right? It’s a lot. You’re on your feet. You’re taking phone calls. You’re answering questions. You’re trying to figure out cost of medications, spending a lot of time on the phone, asking patients about their insurance coverage or why are you not eligible and how much is your copay for this. 

I have a couple people, just because it’s come to my head. I have a woman who has an $8,000 deductible on her plan, $8,000. That always comes to my head about people with their deductibles. So why giving? Because I can, because I can. I’m bright. I have a good job. I have a lot of support from my family and my community. I can and I’m able, so why not? It makes me feel good. I feel like I’ve done something to make myself proud and to make my community proud and my family proud.

[00:55:14] TU: Because I can. All the fields there from Sarah, someone I have a great amount of admiration and respect for. Tim, her passion and mindset around giving of time and money is contagious. I know one of the things you and I are both excited about is as we work with thousands of pharmacists across the country and have the impact I think that we hope to have on improving the financial wellness, pharmacists working through paying off their own debt, getting a solid financial foundation in place, I think that, naturally, the next question for many pharmacists is how can I help. How can I help in whatever capacity means most to me? 

That might be something that’s more traditional in giving; nonprofits, churches, organizations. It might be family members, friends that are in need, other types of areas. But we really see this when we talk about the evolution of YFP and kind of the next phase of the podcast and other things we’re doing. I think the giving part of the financial plan is going to be a really important one.

[00:56:16] TB: I think sometimes there’s a little bit of guilt around this, especially kind of going back to the money scripts. I think this is a good money script to have is to give back. But sometimes, you got to put your own oxygen mask on before you can do that. So, yes, I think that this is one that I think naturally as people, again, kind of continue on their journey. They’re going to be looking for ways that they can kind of give back because a lot of people have been helped along the way as well. It’s something that you and I, again, have talked about in terms of like where does YFP fit in in this whole realm of giving. I think there’s going to be some things that we’re going to announce here in the future around that, which I’m really excited about. 

But, yes, it is one of those things that I’m hoping that we can shine more of a light on of stories like Sarah’s because I think it is so important, and it goes back to like what’s the point, right? She mentioned it, how it makes her feel. I think if you can incorporate that into your own financial plan or kind of the vision of what you’re trying to achieve, I think kind of all boats rise. So love the stories as well. I definitely want to make sure that we highlight more stories like this in the next 300 episodes. 

So, I guess, Tim, I guess, I’ll ask the question as like what do you think? What’s going to – what do the next 300 episodes have in store for us?

[00:57:45] TU: Well, this is the last – No, I’m just kidding. I think that there’s so much opportunity here. One of the things we’ve talked about is bringing this community together, right? Pharmacists empowering one another. This is not something that just Tim and I are leading or even our team at large. We really feel this vision and work around financial wellness for the profession of pharmacy is ongoing. The work needs to be done. That’s only going to happen at the level it needs to happen with the impact that it has the potential to have, if we can bring that community together to help one another empower one another share stories. So more stories are definitely on the horizon. 

Another thing that I have as a vision for the future is more voices on the show. I love doing this. But I recognize that there’s a ton of value and other perspectives, both internally and externally. So we’re going to have folks externally that are really passionate about certain topics. We’re working on this year with Corrie Sanders, Founder of Huna Health, leading our new pharmacy innovators series, featuring pharmacy entrepreneurs but also internally with the team, having more of the expertise of our certified financial planners, our tax professionals, other members of the YFP team to bring some other voices to the show. 

Then I think from a content standpoint, Tim, we’ve already started to make this transition that we want to make sure we’re representing the gamut of the pharmacy professional, right? From student pharmacist, new practitioner or mid-career, pre-retiree, retiree, we really feel like this topic of financial wellness in the profession of pharmacy is not narrowed into any one of those groups. It really spans the entirety because those topics are changing naturally as our phase of life evolves. So that will be done in content that we’re bringing to specifically more on that mid-career, pre-retire, retiree, as well as stories in those phases of life about that transition into retirement. 

I was just having a conversation yesterday with a pharmacist who’s mid-career. Kids are starting to get to the point of getting out of the house, was taking care of elderly parents. Totally different challenges and opportunities in different parts of the financial plan and wanting to make sure we’re bringing a voice to that as well. So that’s the future I see. We’ve been doing this long enough to know that you can only plan so much, right? There will be some pivot points that will naturally happen and, hopefully, some opportunities that come as well. 

Then we don’t have specifics on this yet, Tim, but both you and I share the vision of some more long-form content, bringing some more video in. We’d love to deck out YFP HQ with the studio and do some more video as well. So stay tuned. We might crack that down here in 2023. But what are your thoughts on that, other ideas you have for the vision as well?

[01:00:30] TB: Yes. I mean, I think we kind of follow the – At the time, when we launched the podcast, it was like keep it to like a commute, so like 30 minutes. We’re seeing a lot of successful podcasts go where – you just kind of turn the mic on and you’re just talking about a subject. A lot of the podcasts I listened to are an hour, an hour-plus. So I’m not necessarily advocating for us to kind of drone on about HSAs or things like that. But I would like to be talking more about – when I was looking at some of the statistics, some of our most listened to episodes are more or less about money and more about the broader profession and things like overall wellness. I think that is really important for us to discuss. 

I’m fortunate enough to be able to sit in our conference room here with you, Tim, and just kind of talk about broader issues. I think that some of those discussions, if we actually record it and put those out to the masses, would be valuable. Kind of getting your perspective, obviously, my perspective and kind of how I’ve worked with pharmacists over the years and even an outsider. So I think if you’re listening to this, we’re definitely open to feedback, whether that’s more long-form, broaden our scope a little bit. 

Are there people out there that are like, “Hey, I’ve been waiting for you to interview X, Y, or Z.”? Nominate yourself. We’d love to get more voices on the podcast and really make the next 300 episodes better than the first 300. Like I said, I want to do more. We talked about more shift in mid-career and retirees. I want to do more for my own kind of education on like money and kids and how we should approach that and what are some of the things that we should be teaching our kids. So we don’t kind of imprint some of these money scripts on them. 

There’s lots of things that I think we still are – we need to dust off and really work through. There’s probably a lot of guests that we need to have back on and get updates. So all of that is on the table. But, yes, I’m just super bullish about the work that we’ve done on the podcast, but also the work that’s yet to be done. Excited about the conversation and excited about the journey and continuing to learn on my end. Like I said, I’m a huge fan of the show myself. Yes, just excited for the next 300 in store.

[01:02:53] TU: I am too. It’s going to be a fun journey. It has been a fun journey. As we wrap up, I just want to, again, say thank you to the listeners. Tim, a thank you to you for the many hours you have put into the show, to the planning team, as we’ve had folks from there come on to the show, the many guests, just a few that we featured today. Again, a huge shout-out to Caitlin and Rose from the YFP team that are really the engine behind us putting out this content each and every week and being able to make the show go on. So big thank you to them. 

As Tim mentioned, and I’ll reiterate again, if you have an idea for the show, topic, guests, format of the show, we would love to hear that. You can email us, [email protected]. Last but certainly not least, if you’ve been a listener and you’ve liked the show, do us a favor. Leave us a rating and review on Apple Podcasts. That will help others find the show as well.

Tim, great stuff. Looking forward to the next 300. 

[01:03:46] TB: Oh, yes. 

[01:03:47] TU: Before we wrap up today’s episode of the Your Financial Pharmacist Podcast, I want to, again, thank our sponsor, the American Pharmacists Association. APhA is every pharmacist’s ally advocating on your behalf for better working conditions, better PBM practices, and more opportunities for pharmacists to provide care. Make sure to join a bolder APhA to gain premier access to financial educational resources and to receive discounts on YFP products and services. You can join APhA at a 25% discount by visiting pharmacists.com/join and using the coupon code YFP. Again, that’s pharmacist.com/join using the coupon code YFP. 

[END OF INTERVIEW]

[01:04:27] TU: As we conclude this week’s podcast, an important reminder that the content on this show is provided to you for informational purposes only and is not intended to provide and should not be relied on for investment or any other advice. Information in the podcast and corresponding materials should not be construed as a solicitation or offer to buy or sell any investment or related financial products. We urge listeners to consult with a financial advisor with respect to any investment. 

Furthermore, the information contained in our archived newsletters, blog posts, and podcasts is not updated and may not be accurate at the time you listen to it on the podcast. Opinions and analyses expressed herein are solely those of Your Financial Pharmacist, unless otherwise noted, and constitute judgments as of the dates published. Such information may contain forward-looking statements that are not intended to be guarantees of future events. Actual results could differ materially from those anticipated in the forward-looking statements. For more information, please visit yourfinancialpharmacist.com/disclaimer. 

Thank you, again, for your support of the Your Financial Pharmacist Podcast. Have a great rest of your week. 

[END]

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