Congratulations! After four years of hard work filled with sweat, and tears, you graduated from pharmacy school! You’re ready to conquer the world but what’s next? Hopefully, you didn’t have a hard time passing your NAPLEX or MPJE exams. Now that you’re officially a pharmacist and started a job, how are you going to deal with your personal finance? I
» Read more
What is FIRE? FIRE is a fairly new phenomenon, it stands for Financial Independence, Retire Early. The financial independence movement started about 5 to 10 years ago. I only learned of the FIRE community when I read news articles discussing about Mr. Money Mustache and other millennials retiring in their thirties. Recently, Your Financial Pharmacist blog posted a really good
» Read more
High-yield savings are a fantastic way to stash your free money wasting away in your checking account. This Sofi Money Review will go over the pros and cons of opening an account with Sofi Money. You typically earn an average of 2.20 % APY or more dependent on which savings account you pick. One of the problems with keeping cash
» Read more
I came across an interesting article from Bloomberg discussing the definition of being wealthy across different age groups. The data came from the 2019 Modern Wealth Survey from Charles Schwab. The online survey was based on answers from a cohort of 1,000 respondents, age ranged from 21 to 75 years old. Below are some interesting findings: 59% of Americans live paycheck
» Read more
I am sure there are a lot of reviews for both Mint.com and Personal Capital out there. However, as with everything, everyone has a different perspective and this is my honest review of two free and most popular personal finance tracker out there. Mint.com I have been a long-time user of Mint. I don’t quite remember when I started using
» Read more
Welcome to the first edition of the Sunday financial reading for pharmacy professionals! These are some of my favorite articles I read this recently. Happy reading! Which Should You Fund First: Your 401k or IRA? Article Intro When saving for retirement there are many different strategies and savings vehicles available. The two most popular are 401 (k) and IRA. He’s
» Read more
I recently ran an analysis through my 401 (k) provider to check what is the optimum age for me to retire at. My 401 (k) provider, Empower advised me to retire at the age of 70 to get the full retirement benefit! Well, you might be thinking about how long can I live to enjoy that retirement? As you can
» Read more
Let’s learn different strategies for your investment and saving today! Disclaimer, I am not a personal finance expert. If you’re a personal finance newbie just like myself, the SEC has a really good resource called introduction to investment for you to peruse. Because I’m not an expert I have to do a lot of reading on personal finance from various
» Read more
In this post, I will describe 5 five ways pharmacists can generate passive income. There are two types of income sources: active and passive income. Pharmacists get their active incomes from working their full-time jobs. You can get creative with this. I have personally known pharmacists who are trying to earn extra income in a variety of different ways. First,
» Read more