Are you measuring your financial success by the wrong metric? In this episode, Tim Ulbrich, PharmD, dives into why income can be misleading and why net worth is the true measure of financial progress.

This episode is brought to you by First Horizon.

Episode Summary

Are you measuring your financial success by income alone? In this episode, Tim Ulbrich shares the wake-up call that changed everything for him: despite earning a six-figure pharmacist salary, his net worth was negative $225,000.

Tim dives into why income is a vanity metric and why tracking net worth is the key to true financial progress. He breaks down the difference between income and net worth, why net worth matters more, and four powerful reasons to make it a monthly habit.

What you'll learn in this episode:

• The wake-up moment that shifted Tim's financial mindset
• Why income alone doesn't reflect real progress
• How tracking net worth builds momentum, clarity, and motivation
• Practical tips for measuring what truly matters

Mentioned on the Show

• Your Financial Pharmacist
• Your Financial Pharmacist on YouTube
• The Millionaire Next Door by Tom Stanley
• Rich Dad Poor Dad by Robert Kiyosaki

Retirement isn't just about the numbers. Tim Ulbrich, PharmD and Tim Baker, CFP® and Registered Life Planner, explore how life planning can help you design a retirement filled with purpose, meaning, and fulfillment, not just financial security.

Episode Summary

When it comes to preparing for retirement, most conversations focus on the financial side—things like income planning, Social Security timing, withdrawal strategies, and tax-efficient investing. But true retirement readiness goes beyond the numbers.

In this episode, Tim Ulbrich, PharmD, is joined by Tim Baker, CFP® and Registered Life Planner, to explore how life planning can help you design a retirement that's rich with meaning, purpose, and fulfillment, not just financial security.

As you step away from decades of work—often after raising kids, building a career, and living within a structured routine—you enter a new phase of life where the biggest challenges aren't just financial, they're personal. Who are you now? What does your ideal day look like? How do you make this season of life one that aligns with your values and brings you joy?

In this episode, you'll learn:

• What life planning is and how it complements financial planning
• How to navigate the personal and emotional transition into retirement
• Practical ways to align your money with your values and goals
• How to create a vision for a fulfilling and purpose-driven retirement

Whether you're approaching retirement or simply thinking ahead, this conversation will help you see how life planning can make the next chapter not only financially sound but deeply satisfying.

Mentioned on the Show

• Your Financial Pharmacist
• Your Financial Pharmacist on YouTube
• YFP 394: Crafting a Rich Life in Retirement: Insights from David Zgarrick, PhD
• Vanguard Study Advisor's Alpha
• Changes in US Family Finances from 2019 to 2022: The Federal Reserve Board of Governors

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