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Excited to be tag teaming a personal finance presentation for new practitioners with Script Financial this Sunday at the Maryland Pharmacists Association Annual Meeting!

You're invited to attend MPhA's 135th Annual Convention where pharmacists, pharmacy technicians, and student pharmacists from the surrounding regions convene, learn, network and engage with colleagues and peers! We hope you will come join us for a four-day convention at
marylandpharmacist.org

Enter code WEALTHRX for 15% off your order

Written by pharmacists for pharmacists, Seven Figure Pharmacist will help you get on the path towards building wealth and achieving financial freedom!
sevenfigurepharmacist.com
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Four of my favorite financial books (plus one more)...
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In 2012, I was a confused, trapped pharmacist living paycheck to paycheck. In 2015, I was debt free and on the way to achieving financial freedom. Join me to find out what changed and how the soon to be released book Seven Figure Pharmacist: How to Maximize Your Income, Eliminate Debt and Create Wealth with Tim Church can help you do the same!
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Do you have a fully funded emergency fund? Are you properly insured to protect your financial plan and make sure your family is taken care of? Have you thought about ways to increase your income to achieve your goals faster? How about understanding and minimizing your income tax to keep as much of your earned money as possible? These are the questions we answer in Prescription #3 (Protect & Maximize Your Income) of Seven Figure Pharmacist: How to Maximize Your Income, Eliminate Debt and Create Wealth. Head on over to www.sevenfigurepharmacist.com to order your copy and use the coupon code 7FIGURE for the next 3 days to get 15% off and access to a private Facebook group!
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Are you familiar with the fees associated with investing in mutual funds? Check out this succinct article from Investopedia regarding Expense Ratios to get you started.

A measure of what it costs an investment company to operate a mutual fund. An expense ratio is determined through an annual calculation, where a fund's operating expenses are divided by the average dollar value of its assets under management. Operating expenses are taken out of a fund's assets and l...
investopedia.com

Excited to be heading down to Columbus tonight to speak at the The Ohio State University College of Pharmacy Alumni Association Financial Wellness Workshop! We are going to be talking about 5 Strategies to Become a Seven Figure Pharmacist.

I hope you will find this article by Justin Cole from Cedarville University School of Pharmacy as inspiring as I did!

"In the end, we moved to a wonderful home that was less than half the size and cost of our previous home. I did not fully realize the impact that home ownership had on our overall financial picture until our move. Through the process, we have learned a lot about ourselves and experienced many unexpected freedoms through downsizing."

This post was written by Justin Cole, PharmD, BCPS. He is a 2006 graduate of Ohio Northern University. Dr. Cole recently accepted an appointment as Vice Chair and Assistant Professor of Pharmacy Practice at the Cedarville University School of Pharmacy. Over the previous 10 years, he served in variou...
yourfinancialpharmacist.com

Fascinating. Get ready for disruption and innovation to happen in the grocery industry whether you like it or not.

The other potential story line to watch here is how Amazon may use this acquisition to further their vision for getting into the pharmacy business. Lauren Castle mentioned this last week when the news broke and I think she is spot on.

“Once Amazon is a player in the industry, anything can go,” said Joe Agnese, senior food retailing analyst at CFRA. “The big threat is what else they can do. Now that they have a retail presence with (more than) 400 stores, long-term they can expand on that threat. They can (bring) pricing pressure. They could bring down prices and everyone would have to match them or lose share."

By buying Whole Foods, Amazon brings firepower to an industry plagued by thin profit margins. It could hurt food manufacturers and producers, delivery services, supermarket chains, mass sellers and more.
usatoday.com

More than half surveyed believe their advisor must legally act in their best interest. It isn't the case, unfortunately!

Why the fiduciary standard is more important for protecting investors than The Fiduciary Rule and how they are different.
forbes.com|By Next Avenue

Thank you Alex Barker for working with me as Tim Church and I were finishing up the writing for Seven Figure Pharmacist! You brought a unique and valuable perspective to the table and inspired me to stay on track to get the work done.

Photo by Philip K King

He started talking to lots of pharmacists and found out that, despite earning a six-figure income, many needed help managing their finances. He consistently heard pharmacists say, “I am living paycheck to paycheck.”
thehappypharmd.com

A thought provoking and humorous read for your Wednesday morning. It is always good to learn and read from those that have similar and dissenting opinions.

My favorite response is from Phil Huber: Fidget spinners.

Bitcoin, a FAANG stock — and the infatuation with passive investing.
marketwatch.com

This is a fantastic read! Please take 5 minutes to do so and then share with all your friends and colleagues that say 'my guy' takes care of my investments. That is usually code word for I'm getting hosed but don't realize it.

Tim Church, PharmD, BCACP, CDE and I have dedicated a whole chapter (15) in Seven Figure Pharmacist (www.sevenfigurepharmacist.com) to this incredibly important topic.

As I mentioned the other day, this is why I'm pumped to be partnering with Tim Baker, CFP from Script Financial for the Your Financial Pharmacist podcast coming in July. He is one of the few (<2% of all advisors according to Tony Robbins in Unshakable) doing the business the right way.

Despite claims otherwise, the new much ballyhooed Department of Labor fiduciary rule won’t protect you from financial advisers who put themselves first. But you can, easier than you think.
usatoday.com

Check out a new guest blog post on Your Financial Pharmacist by new practitioner Deeb Eid!

Deeb is a graduate of The University of Toledo College of Pharmacy & Pharmaceutical Sciences, former executive resident of Pharmacy Technician Certification Board (PTCB) and soon to be faculty member at Ferris State University College of Pharmacy.

The following post was written by Deeb Eid, PharmD. Deeb is a 2016 graduate of The University of Toledo College of Pharmacy and Pharmaceutical Sciences. He recently completed an Executive Residency at the Pharmacy Technician Certification Board (PTCB) in Washington, D.C. and is transitioning to Ferr...
yourfinancialpharmacist.com

A good overview of the fiduciary standard and what has been going on during the transition from the Obama to Trump administration.

Why should you care? Many pharmacists are working with 'financial advisors' that legally don't have to have their best interest in mind and don't even realize this is the case.

Tim Church and I dedicated a whole chapter (15) in Seven Figure Pharmacist (www.sevenfigurepharmacist.com) to this VERY important topic. Once you dig into that chapter you... will quickly realize how important it is to find a fiduciary advisor.

As Tony Robbins talks about in Unshakeable (which is a fantastic read!) it is pretty hard to find holistic planners that are doing this the right way.

This is one of the many reasons I'm pumped to be partnering up with Tim Baker for the Your Financial Pharmacist Podcast starting in July! He is a CFP, fee-only planner doing the business the right way and he is going to bring some awesome insights and content to the pharmacy community.

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The Department of Labor (DOL) Fiduciary Rule is a new ruling that expands the “investment advice fiduciary” definition under the Employee Retirement Income Security Act of 1974 (ERISA).
investopedia.com

Who is on a budget and still looking for good Father's Day gift ideas?

My good friend Best Dressed Dad by Josh Workman nailed it with this video on gift ideas under $50.

I would also recommend going back to his posts on "The 2 Pairs of Shorts Dads Need This Summer" and "5 Stylish Summer Essentials" at www.bestdresseddad.com for additional gift ideas!

Not a good sign.

Over 171 million consumers now have at least one credit card, the highest level since 2005.
cnbc.com|By CNBC