For many of us, summertime is a time of action. Traveling, weddings, vacations, etc. It can put a strain on even the best financial situations. So how can you get back on track when summer ends and you find that you spent more money than you think you should have.
College planning for college bound families can be a big stressor. Deciding on where you want to go to college is tough enough, but figuring out how you're going to pay for it can be extremely overwhelming. In this episode, Derek is touches on some of the basics you are going to want to be aware of when it comes time for you to begin your college planning journey. Derek talks about Cost of Attendance, Expected Family Contribution, Financial Aid Need, and more!
You've successfully reached the decade of your 30s! It's a decade that people see a lot change from a financial standpoint. It's a decade where wealth really starts to accumulate. Because of this, we've created out top 5 money tips for everyone in their 30s!
In most of us, there is a seed of doubt that lives within us all that keeps us from taking the necessary steps to accomplish great things. This is called Imposter Syndrome. It can create so much anxiety and tentativeness inside of us that we end up becoming completely immobile. We freeze and stop the progress of everything we've done up to that point. Imposter Syndrome comes in all shapes and sizes. Financial imposter syndrome is specifically the seed of doubt around our financial wellbeing. Managing it properly and continuously improving it over the course of our lives can make a huge positive difference.
Upon graduation, you have the many options to peruse when it comes time to paying back your student loans. Two common avenues are to refinance via private loans or to do a direct loan consolidation. Each of these two options comes with their own set of pros and cons.
Which investment strategy is best? Passive or Active? Instead of determining which is best, you should instead chose which is best for YOU. There are plenty of similarities and differences between the two. Understand those can help you narrow down which investment strategy is right for your specific situation.
Are you looking to take your pharmacist career in a different direction? Or maybe your side hustle has accelerated enough to make it your full time job. Regardless, becoming an entrepreneur is a new experience. In this episode, learn all the considerations you will need to navigate as your begin your entrepreneurial journey.
It can get complicated for consumers to determine how much a financial advisor is getting paid. It can even get complicated for some financial advisors to discern how much they will be paid. There are compensation grids, bonuses, and compensation accelerators that can kick on at any time. This hard to understand advisor compensation can create a big problem. It makes it more difficult for consumers to determine if the value they are getting from their advisor is worth the money they are paying, directly or indirectly. So, in this podcast episode, Derek will walk through the four main ways most advisors get paid. This will help you determine how much your advisor is being compensated so you can start fairly identifying if your getting your "money's worth".
Many consumers who hire financial advisors may think that these advisors have the legal, moral, and ethical obligation to put their interests ahead of everything else when it comes to delivering financial and investment advice. I think it would be shocking to a lot of these same people when they learn that the large majority of financial advisors don't abide by that kind of obligation.
We live in a social world. It has created a way for people to share about all sorts of stuff. This information that people are producing can range from simple tasks to complex strategies. There is no shortage of financial advice that gets shared across social media platforms as well. However, some of this information is dangerous because of the lack of understanding of the topics that are being presented. Most of the time it's individuals who are sharing totally made up information and positioning it as fact. Because money is a complex subject, a lot of people can't tell the difference.
It's no secret that pharmacists get paid well. They should. They have accumulated an immense level of education and knowledge in a field that is extremely impactful to our communities. But it's no secret that pay within the industry is changing. So what does that mean for new grads just entering the profession and more tenured mid-career professionals who still have another 20 - 30 years left in their career? In this episode, Derek gives and outsiders opinion on what he thinks is going on and how he thinks it will affect the long term outlook of the profession. Derek also gives his 3 predictions for the biggest changes he sees happening to the industry in the next 10 years.