The Financial Literacy Test

Ever wonder how financially literate you are? Take the financial literacy test here and find out! The quiz is from The National Financial Capability Study (NFCS) is a project of the FINRA Investor Education Foundation (FINRA Foundation). For your convenience, here are the questions: Financial Literacy Test: Question 1. Suppose you have $100 in a savings account earning 2 percent

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Pharmacists on FIRE, is it possible to retire early?

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

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How Much Money is Considered Wealthy?

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

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