Tim & Tim discuss whether to pay off your mortgage early or invest, breaking down math, mindset, and goals for 2025's financial landscape.

This episode is brought to you by First Horizon.

Episode Summary

In this episode of the YFP podcast, co-hosts Tim Ulbrich, PharmD, and Tim Baker, CFP®, RICP®, RLP® revisit the frequently asked question: 'Should I pay off my mortgage early or invest the difference?' They discuss how the changing financial landscape, including rising interest rates, market volatility, and inflation, impacts this decision in 2025. They explore the math, emotional factors, and personal financial goals to provide a balanced approach.

What you'll learn in this episode:

• How to evaluate whether paying off your mortgage early or investing the difference makes more sense in today's higher-rate environment.
• Why the math (interest rates, investment returns, tax impact) and the emotion (stress, freedom, flexibility) both matter when making this decision.
• How shifts in interest rates, inflation, and cash flow pressures since 2018 change the calculus for pharmacists in 2025.
• The role of discipline and behavior—why "investing the difference" only works if you actually do it.
• How a financial planner helps balance data and emotion to build a plan that aligns with your goals, values, and risk tolerance.

Mentioned on the Show

• Your Financial Pharmacist
• Book a Free Discovery Call with YFP
• YFP Episode 49 "Should I Pay Off My House Early of Invest?"
• YFP Episode 68 "Pros/Cons of the Dave Ramsey 7 Baby Steps"
• YFP Episode 427: "Passive vs Active Investing: Is the Debate Over"
• YFP Episode 274: "Risk Tolerance vs Risk Capacity (Retirement Planning)"

Tim & Tim unpack passive vs. active investing, fees, behavior, and why YFP takes an "actively passive" approach to help pharmacists reach goals.

Episode Summary

In this episode of the YFP podcast, co-hosts Tim Ulbrich, PharmD and Tim Baker, CFP®, RICP®, RLP® dive into the ongoing debate of passive versus active investing. They break down the definitions of each strategy, discuss where each might fit into a pharmacist's financial plan, and analyze the impact of fees and behavioral factors.

Drawing insights from Charles Ellis's The Index Revolution and Dr. Daniel Crosby's The Behavioral Investor, they explore YFP's own investment philosophy and the benefits of an actively passive approach. The episode covers the importance of long-term planning, the impact of fees on investment returns, and why human behavior often works against successful investing. Tune in to see why YFP advocates for a passive approach while actively managing portfolios to align with clients' financial goals.

What you'll learn in this episode:

• The key differences between passive and active investing—and where each approach fits within a pharmacist's financial plan.
• How investment fees and human behavior can significantly impact long-term returns.
• Why YFP believes in an "actively passive" investment philosophy that balances discipline with adaptability.
• Practical takeaways from The Index Revolution and The Behavioral Investor to help you become a more confident, informed investor.

Mentioned on the Show

• Your Financial Pharmacist
• Your Financial Pharmacist on YouTube
• The Index Revolution by Charles Ellis
• Vanguard Research Brief (2020): Putting a value on your value: Quantifying Vanguard Adviser's Alpha
• The Behavioral Investor by Dr. Daniel Crosby
• YFP Episode 124: The Behavioral Investor with Dr. Daniel Crosby

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