Each Friday in June 2022, I’m publishing an interview with a pharmacist dad in honor of Father’s Day, which is Sunday, June 19. Today’s episode is an interview with Dr. Tim Ulbrich.
Thank you for listening to episode 154 of The Pharmacist’s Voice ® Podcast!
Tim Ulbrich is the Co-Founder and CEO of Your Financial Pharmacist. Founded in 2015, YFP is a fee-only financial planning firm and connects with the YFP community of 13,000+ pharmacy professionals via the Your Financial Pharmacist Podcast podcast, blog, website resources and speaking engagements.
Tim received his Doctor of Pharmacy degree from Ohio Northern University and completed postgraduate residency training at The Ohio State University. Tim is the host of the Your Financial Pharmacist Podcast and co-author of Seven Figure Pharmacist: How to Maximize Your Income, Eliminate Debt and Create Wealth.
To date, YFP has partnered with 70+ pharmacy organizations to provide personal finance education on topics including debt management, investing, retirement planning, and financial well-being.
Mentioned in this episode
Business website – https://yourfinancialpharmacist.com/
YFP Podcasts – https://yourfinancialpharmacist.com/podcasts/
YFP Facebook Group – https://www.facebook.com/groups/390846528023004
Tim Ulbrich Personal LinkedIn – https://www.linkedin.com/in/timulbrich/
Tim Baker, CFP, RLP (Your Financial Pharmacist Co-Founder, YFP Podcast co-host)
David Bright, PharmD (YFP Podcast Real Estate Investing episodes co-host)
Nate Hedrick, PharmD (YFP Podcast Real Estate Investing episodes co-host)
Marialice Bennett (One of Tim’s mentors)
🖥Check out Kim’s websites, and connect with her on social media!
✅Business website https://www.thepharmacistsvoice.com
✅The Pharmacist’s Voice ® Podcast https://www.thepharmacistsvoice.com/podcast
✅Pronounce Drug Names Like a Pro © Online Course https://www.kimnewlove.com
✅ACX (Audiobook Narrator Profile) https://www.acx.com/narrator?p=A10FSORRTANJ4Z
Highlights from the interview
Tim Graduated from Ohio Northern University (ONU) in 2008. ONU’s PharmD program is a 0-6 Direct Entry Program.
Some experiences give us perspective, disrupt our plans, and change our ultimate goals and career paths. Tim mentioned several examples from his own life.
- A 3-week-long P6 rotation to Kenya
- Mentorship from Marialice Bennett
- His residency training at OSU where he fell in love with teaching.
Ultimately, Tim co-founded Your Financial Pharmacist (YFP) in 2018 with Tim Baker. He took a curvy, nonlinear path to founding YFP. He spent 10 years in an academic role. Part of his time was spent in clinical practice, and the other part was spent teaching at Northeast Ohio Medical University (NEOMED) College of Pharmacy. In 2018, he led the MS in Health System Pharmacy Administration Program at OSU before transitioning to a full-time role at YFP. His professional experiences prepared him for the work he is doing now and running his own business.
Tim Baker is Tim Ulbrich’s business partner. Mr. Baker is a certified financial planner. Tim Baker and Tim Ulbrich help pharmacists achieve financial freedom. There is an opportunity and a need to create a financially well pharmacist workforce. That’s at the center of everything that Tim and his team do at YFP. Tim explained his personal “why” for wanting to impact the financial wellness of pharmacists.
Your Financial Pharmacist Podcast is available at https://yourfinancialpharmacist.com/podcasts/. The podcast launched in 2017. As of May 2022, there are 3 shows per week. Tim has published more than 400 episodes and crossed the 1,000,000 download mark in 2022. They have a running list of ideas for new episodes. Subscribe/follow Your Financial Pharmacist Podcast today!
We all learn from other people’s stories. Pharmacists share their financial journeys on the podcast. Listeners love the stories because they can relate. There are three shows/week on the podcast. Here’s a brief description:
- Monday, Ask a YFP CFP
- Thursday, Main show/original show
- Saturday, Real estate investing episodes featuring David Bright and Nate Hedrick.
Hearing a competent, reassuring voice is important. Your Financial Pharmacist Podcast is YFP’s #1 source of referrals from a financial planning service standpoint. It’s a relationship-building tool. Building rapport and relationships is important so that people feel invited to be vulnerable and take the next step to becoming a client, like an initial conversation. Listening to a podcast is a warmer connection than reading a blog.
Great ideas can become businesses or services. Do you have the solution to a problem people care about? Tim encourages anyone who has a great idea that is a solution to a problem people care about to get that information out there.
There is a need for a financially well pharmacist workforce. Tim Ulbrich and Tim Baker are building a community of people who care about pharmacist financial wellness and give them an outlet to communicate with one another through the YFP Community.
Tim referred to the “YFP Community” throughout our conversation. You can think of the YFP community as YFP Podcast listeners and YFP Facebook Group Members. Tim Baker and Tim Ulbrich facilitate the community. They don’t want to be at the center of the conversation. They want to be the facilitators of the conversation. What do people do in the community? They ask questions, share wins, comment on posts, share ideas, and relate to one another using personal experiences.
Ideas for podcast episodes and guests come from questions or engagement in the YFP Community. Repeated questions or comments make great content for the podcast. Lots of engagement on a post can lead to a good episode topics. For example, Tim mentioned an episode featuring 3 pharmacists who collectively had more than $700K in student loan debt. Their debt was forgiven tax-free under the federal student loan forgiveness program.
With over 1 million downloads, the YFP Podcast has touched many lives. Tim is humble and appreciates the listener’s time.
Transformational stories of debt elimination are powerful. Tim takes time personally to celebrate client successes. It reminds him, “Who we are as a company/team? What are we doing? Why are we doing it? It’s not about ego. It’s a reminder of what we’re trying to accomplish. We are the guide with the plan who facilitates the transformation.”
Tim Ulbrich is also a public speaker. He has spoken at conferences, to groups of pharmacists, and to pharmacy students.
“There is work to do!” Tim wants to see personal finance education included in PharmD programs. Advocating for a financially well pharmacist workforce at the state and national level is needed. Because YFP has a community, it can be activated around issues that the community values. In the future, the community will have the opportunity to be part of YFP Gives.
During the second half of the conversation, we talked about family and fatherhood.
Tim married his college sweetheart Jess. They have 4 sons ages 2-10. Jess homeschools all four boys. Teaching four levels of learners and four learning styles is a challenge.
According to Tim, business, fatherhood, and marriage have given him great opportunities for individual growth and showing grace.
We also discussed
- How he and Jess decided to start a family
- Favorite things about being a Dad
- Challenges of being a Dad
- Balancing work and family
- General advice from himself to current or prospective pharmacist Dads
Thank you Dr. Tim Ulbrich for being my guest on The Pharmacist’s Voice ® Podcast! Happy Father’s Day!