Is it possible for a pharmacist to save $1M by 40? In this episode, we break down the math, explore money mindsets, and share my journey from –$225K in debt after residency to reaching millionaire status with practical strategies to build wealth.

Episode Summary

In this episode, we tackle one of the most common (and debated) money questions: Is it realistic for a pharmacist to reach $1 million by age 40?

YFP Co-Founder & CEO, Tim Ulbrich, PharmD breaks down the math, explores the mindset shifts that matter most, and shares some of his own story of going from –$225,000 in net worth after residency to crossing the seven-figure mark.

You’ll learn:

✅ How to calculate what it actually takes to hit $1M
✅ Why your money beliefs may help or hold you back
✅ Strategies like automating savings, tracking net worth & boosting financial IQ
✅ The importance of “playing financial defense” with debt and expenses

This episode isn’t just about hitting a number, it’s about what that milestone means for your financial independence, freedom, and peace of mind.

Mentioned on the Show

• YFP Compound Interest Calculator
• The Millionaire Next Door by Dr. Tom Stanley
• Watch the Your Financial Pharmacist Podcast on YouTube
• Learn More About Your Financial Pharmacist

Taking risks with your money, career, or life goals isn’t easy, especially if you don’t feel secure. In this episode, Tim Ulbrich, PharmD, explores how to build both the financial and emotional foundation you need to step out of survival mode and start taking calculated risks with confidence.

Episode Summary

Without security, it can be difficult to take risks. In this episode, YFP Co-Founder & CEO, Tim Ulbrich, PharmD, shares how to build the financial and emotional foundation you need to move past survival mode and take bold, calculated risks

You’ll learn:

✅ Why having a financial “floor” is essential before taking risks
✅ How emotional security plays into financial decision-making
✅ Practical steps to create stability so you can pursue opportunities
✅ The balance between playing it safe and going after bold goals

Whether it’s investing, starting a new business venture, or chasing a dream, this conversation will help you create the security you need to move forward.

Mentioned on the Show

• Watch the Your Financial Pharmacist Podcast on YouTube
• Learn More About Your Financial Pharmacist

Health Savings Accounts (HSAs) are a modest but mighty tool for healthcare and retirement planning with a rare triple-tax advantage. Tim Ulbrich and Tim Baker share 2025 limits, key benefits, and common mistakes pharmacists make.

This episode is brought to you by First Horizon.

Mentioned on the Show

• First Horizon’s Pharmacist Home Loan
• YFP Blog: Why I’m Not Using My Health Savings Account to Pay for Medical Expenses
• YFP 165: The power of a Health Savings Account
• Reference: Investment News Barron’s
• YFP 124: The Behavioral Investor with Dr. Daniel Crosby
• Your Financial Pharmacist
• Your Financial Pharmacist on YouTube

Episode Summary

Health Savings Accounts (HSAs) are a modest but mighty tool for both healthcare and retirement planning, offering a rare triple-tax advantage: tax-deductible contributions, tax-free growth, and tax-free qualified withdrawals. But despite these benefits, many pharmacists aren’t maximizing their HSA—or worse, are making costly mistakes.

In this episode of the Your Financial Pharmacist Podcast, Tim Ulbrich and Tim Baker break down:

✅ What HSAs are, how they work, and 2025 contribution limits
✅ Why HSAs can serve as a “stealth” retirement account
✅ Common mistakes like non-qualified expenses and poor record-keeping
✅ How to choose the right HSA provider and designate beneficiaries
✅ Tips for investing your HSA funds for long-term growth

Whether you’re just starting out with your HSA or looking to fully optimize this powerful account, this episode is packed with insights to help you avoid pitfalls and maximize your benefits.