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Insights to Educate & Inform

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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Rolling a 401(k) into an IRA. Is it right for you? Thumbnail

Rolling a 401(k) into an IRA. Is it right for you?

It's rare these days for someone to work their entire life with one company. It's also uncommon these days to find a company that is going to provide you with a pension. This forces people to take advantage of other retirement plans, like a 401(k). So in this episode Derek is going to walk you through a common decision people find themselves having to make. Do you keep your money inside your 401(k) after a job change, or move it into an IRA?

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Life Insurance; Term or Permanent? Thumbnail

Life Insurance; Term or Permanent?

Some of the first type of interactions a young pharmacist may have with a "financial advisor" may very well be around the topic of life insurance. Life insurance is a useful product but many times the sale of life insurance can blur the lines between a beneficial product or a regrettable buying experience. In this episode, Derek will go over the basics of life insurance. He'll touch on some of the benefits you should be aware of, common features, and how to identify if your current life insurance is still appropriate for you.

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A Breakdown of Student Loan Debt for Pharmacists Thumbnail

A Breakdown of Student Loan Debt for Pharmacists

One of the biggest financial stressors for a young pharmacists is student debt. It's confusing to figure out what you have, what your repayment options are, and how to get to the finish line of paying them off as efficiently as possible. In this episode, Derek will breakdown what common questions pharmacists will face when it comes time to repaying their student loans. He will also provide some insight into a few of the many different area's of student loan planning.

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Roth IRA Basics for Pharmacists Thumbnail

Roth IRA Basics for Pharmacists

A valuable tool pharmacists can use when it comes to preparing for retirement (among other things) is the ROTH IRA. It's a common account that seems pretty easy to navigate. However, there always seems to be a few details that end up tripping pharmacists up. In this episode, we are going to cover some of the basics of ROTH IRAs that pharmacists should be aware of. Because if you haven't already, you could find yourself running into these in the future.

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Fail Fast. How to Navigate Financial Roadblocks Thumbnail

Fail Fast. How to Navigate Financial Roadblocks

Money is complicated. You spend a large part of your life pursing it while simultaneously trying not to lose it. In the episode, Derek concentrates on 3 areas where pharmacists tend to find themselves experiencing those financial roadblocks and ways they can navigate their way out as quickly as possible. Roadblock# 1: Digging out of debt Roadblock #2: FOMOA (Fear of Missing Out, Again) Roadblock # 3: Buyer's Remorse

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Pharmacists Financial Life Stages Thumbnail

Pharmacists Financial Life Stages

A career as a pharmacist isn't a normal 9 - 5 profession. It can difficult to determine if you are on the right track. It can even be more stressful when you start comparing yourself to others. That is why in this episode, Derek gives you an idea of what a "typical" financial progression looks like for a pharmacist professional. Everyone's financial situation is different and unique, but this episode will attempt to provide an idea of what you could potentially anticipate in your financial life. Stage 1: New Grad Stage Stage 2: Growth and Opportunity Stage Stage 3: Financial Maturity Stage Stage 4: Golden Years Stage

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Top 5 Core Money Principles for Pharmacists Thumbnail

Top 5 Core Money Principles for Pharmacists

Financial Wellness can mean many things to different people. In this episode, Derek breaks down what his 5 core money principles are. They are not universal, but are a great place to start if you are trying to build a stronger relationship with money! #1: Money is a tool, not a goal #2: You can't manage what you don't measure #3: Discipline equals freedom, motivation equals a mirage #4: Ignore and avoid status games #5: If you don't have health, you don't have anything

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