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Insights to Educate & Inform

How Financial Advisors Get Paid Thumbnail

How Financial Advisors Get Paid

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".

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Why Working With A Fiduciary Financial Advisor Is So Important Thumbnail

Why Working With A Fiduciary Financial Advisor Is So Important

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.

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The Worst Money Advice I've Seen On Social Media Thumbnail

The Worst Money Advice I've Seen On Social Media

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.

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A Look Into Pharmacist Salaries Thumbnail

A Look Into Pharmacist Salaries

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.

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Ask Me Anything Mailbag Episode Thumbnail

Ask Me Anything Mailbag Episode

The podcast is growing and with that there have been many questions from listeners emailed into the podcast@pharmdfp.com inbox. So, in this episode, Derek is going to answer 5 of those questions that listens have inquired about.

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What To Anticipate When You Find Yourself Inheriting Money Thumbnail

What To Anticipate When You Find Yourself Inheriting Money

In life there is always a beginning and an end. I'm sure all of us have had a loved one pass away at some point in our lives. But what happens when you are left with an inheritance? The amount of wealth that will pass to the next generation is projected to be anywhere between 30 and 70 trillion dollars. It is being called the great wealth transfer. So it's important to understand what opportunities, challenges and decisions you will encounter if you find yourself as an inheritor. In this episode, Derek will walk through considerations you should be aware of when inheriting - IRAs & 401(k)s - Capital Assets (money not in IRAs or 401(k)s) - Annuities You can find Derek at: derek@pharmdfp.com Twitter: https://twitter.com/derekjdelaney LinkedIn: https://www.linkedin.com/in/derekdelaneypharmdfp/ Facebook: https://www.facebook.com/PharmD-Financial-Planning-LLC-116600423803050

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Deciphering The Greatest Puzzle Of All Time. Tax Code Thumbnail

Deciphering The Greatest Puzzle Of All Time. Tax Code

To say that taxes are confusing is an understatement. With over 2,600 pages of Internal Revenue Code and approximately 800 different schedules and forms, I think it's safe to say that tax code could be considered one of the greatest puzzles of all time. However, it's one of the biggest levers we have to manage in financial planning. And for pharmacists, it's important to mange your tax liability and exposure continuously. So, in this episode, Derek will walk you through one of the most common tax forms most people are exposed to. Form 1040. How it works, what information is important, and a few different ways you can directly influence how much tax you're required to pay.

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5 Steps To Create Your Own Financial Plan Thumbnail

5 Steps To Create Your Own Financial Plan

Whether you like it or not, everyone has a financial plan. Not doing anything is a financial plan. Planning by yourself using simple or complex software is financial planning. Working with a financial professional to help build a financial plan is financial planning. There is nothing wrong with wanting to create a financial plan on your own. However, it can be tricky trying to figure out how to get started and what actions are needed to move forward. So, in this episode, Derek walks through the 5 steps he believes any individuals can take to create their own financial plans.

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8 Years In and Going Strong. An Interview With Kortney Delaney, PharmD. Thumbnail

8 Years In and Going Strong. An Interview With Kortney Delaney, PharmD.

The world of pharmacy has changed a lot over the last 8 years. There are more pharmacy schools than ever, jobs are harder to come by, pay for new grads is getting lower, and the pharmacy industry as a whole is trying to work through the adoption of increased technology. So, with all of that going on, I thought it would be appropriate to bring on a guest. Kortney Delaney - PharmD, talks about the last 8 years of her pharmacy career, what she anticipates seeing in the future within the industry, and some advice for new grads getting ready to start their careers.

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Capital Gain Taxes Thumbnail

Capital Gain Taxes

With the implementation of zero trading costs, it has become more common than ever for retail investors to open their own trading accounts and start investing. The thrill of earning a profit when an investment works out, is phenomenal! But don't forget that whenever you earn a profit, the IRS will be waiting. So in this episode Derek will discuss capital gains taxes. What are they? When will you owe them? And, how do they affect the other taxes you owe throughout the year?

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Building Your Dream Home Thumbnail

Building Your Dream Home

A piece of the American dream is homeownership. For most, buying a home fits that narrative. And doing so has become pretty commonplace in America. However, some take it a step further and decide to build their own dream house. This is much less common, and for some, a completely foreign concept. So in this episode, Taylor Herman joins the podcast to talk about the process of building a new home. From working with a bank, contractors, and more. He also details what your expectations of the process should be. Taylor Herman is a VP of business banking. He has 10+ years in the banking profession. Enjoy the episode!

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