Tips for Protecting Your Future and Finances as a Young Adult

Navigate your financial journey with the expert advice and investment tips available on Pharmacist Money. Discover comprehensive guides tailored to your unique financial challenges and start building a prosperous future today. Tips for Protecting Your Future and Finances as a Young Adult Photo by Freepik Stepping into independence brings a mix of thrill and trepidation. As a young adult, the choices you

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A Comprehensive Guide to Investing in Alternative Assets

Introduction When it comes to investing, most people think of traditional assets such as stocks, bonds, and real estate. However, there’s a whole world of alternative assets that offer unique opportunities for diversification and potentially higher returns. Alternative assets include a wide range of investments, from precious metals and collectibles to private equity and cryptocurrencies. This article aims to provide

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A Comprehensive Guide on How to Invest in Real Estate

Introduction: Investing in real estate can be a lucrative venture, offering potential for capital appreciation, rental income, and portfolio diversification. However, it requires careful planning, research, and a solid understanding of the market. In this article, we will walk you through the essential steps to successfully invest in real estate. 1. Define Your Investment Goals: Begin by clarifying your objectives.

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The Art of Frugality: Living a Fulfilling Life with Less

In a world that constantly encourages consumerism and the pursuit of material possessions, embracing frugality might seem like a countercultural choice. However, the practice of frugality is not about living a life of deprivation or scrimping on essentials. Instead, it is a mindful approach to managing resources, prioritizing what truly matters, and finding joy in the simplicity of life. Understanding

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Accelerating Debt Repayment: Strategies for the Fastest Route to Financial Freedom

Introduction Debt, though sometimes unavoidable, can weigh heavily on an individual’s financial well-being. Whether it’s student loans, credit card debt, a mortgage, or any other type of debt, finding the fastest way to pay it off can provide a sense of relief and pave the path to financial freedom. This article delves into effective strategies to expedite debt repayment and

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Practical Strategies to Save Money and Secure Your Financial Future

Introduction In an era of rising costs and economic uncertainties, learning how to save money has become an essential skill. Whether you’re aiming to build an emergency fund, pay off debt, or achieve long-term financial goals, adopting effective money-saving strategies can greatly impact your financial stability. This article will delve into practical and actionable tips to help you save money

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Exploring Diverse Investment Assets: A Guide to Building a Balanced Portfolio

Introduction In the ever-evolving landscape of investment opportunities, understanding the range of assets available is essential for investors seeking to maximize returns while managing risk. Diversification is a key strategy for building a resilient investment portfolio, and this involves allocating funds across various asset classes that have different risk and return profiles. In this article, we will delve into different

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Renting vs. Owning: Making an Informed Decision for Your Home

Introduction: Deciding whether to rent or own a home is a significant financial and lifestyle choice that deserves careful consideration. Both options come with their advantages and disadvantages, and the decision depends on various factors, including your financial situation, long-term goals, and personal preferences. This article aims to provide an objective overview of the pros and cons of renting and

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Introduction to Credit Card Debt

Credit card debt can be a significant burden for many individuals. When used responsibly, credit cards can be a useful financial tool, offering convenience and access to credit when needed. However, when not managed correctly, they can lead to significant financial stress. This article aims to provide a comprehensive guide on how to pay off credit card debt, offering practical

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How Entrepreneurs Can Overcome Financial Setbacks

How Entrepreneurs Can Overcome Financial Setbacks For those with an entrepreneurial spirit, there is no greater source of fulfillment than starting up a dream business. While it has become increasingly easy to begin operating a business out of the comfort of one’s own home, that doesn’t change the fact that being an entrepreneur is something of a gamble. Statistics show

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Tips for Launching a Successful Health and Wellness Business

Photo via Pexels Tips for Launching a Successful Health and Wellness Business There’s a lot of money to be made in the health and wellness industry. At Pharmacist Money, we know this first-hand! Whether you’re interested in launching your own pharmacy business, personal training studio, nutritional coaching service, or local health food store, running a health-based business is a fulfilling

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Helping Someone With Cancer

Image via Pexels Helping Someone With Cancer Illness can affect anyone regardless of age or gender, and cancer is considered one of the worst. So many types of cancer are challenging to those who fight it. It is a battle no one should face alone. There are ways you can help; you don’t have to be a doctor or scientist

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Why am I pursuing financial independence?

Financial independence, retire early (FIRE) is a personal finance movement that started around 10 years ago. What is inancial independence, retire early (FIRE)? What is financial independence (FI)? At its root, financial independence is achieved when you are no longer dependent on anyone including your current job to support yourself financially and maintain your current lifestyle. How can you achieve

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What can my FSA card buy?

An FSA or a flexible spending account is an arrangement set up by your employers to help you pay for qualified medical and dental expenses. Funds contributed to your FSA account are deducted from your paycheck and are not subject to income and payroll taxes. The funds can be used like a debit card for qualified expenses and are not

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Fundrise Review: Real Estate Crowdfunding

How Does Fundrise Work? Fundrise takes commercial projects across the states and turns them into Electronic real estate investment trusts (eREITs). This is in contrast to regular REITS whether privately or publicly traded REITS. You can think of this as similar to an index fund where each eREITS is a basket of various commercial real estate projects. Fundrise has declared

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Social Media Content Ideas for your Business

The most challenging part of running a social media campaign is fresh social media content ideas. Great social media content is very important for the growth of your brand. However, you are expected to be consistent in providing high-quality content across your social media channels. It can be tough, and to help you, I have provided a few social media

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Can Pharmacists Retire as 401k Millionaires?

Can pharmacists retire as a 401k millionaire? The answer is a resounding yes! In fact, non-pharmacists can become 401k millionaires as well. Let’s find out how! 401K Millionaires It turns out American millionaires have a lot of things in common. According to a survey conducted by Ramsey Solutions from personal finance expert, Dave Ramsey found out that: 79 percent didn’t

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Will Social Security be there for me when I retire?

My Social Security Social security is an important component of retirement planning. As such it is a good to question its sustainability. First off, since social security is important it’s a good idea for you to create an account to monitor and utilize the resources afforded to you from the social security website. The government’s social security website give you

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Average Pharmacist Salary in 2020

How did pharmacist salary change in 2020? In this post, I will visit popular pharmacist salary databases to determine the average latest pharmacist salary numbers. Pharmacists are among the many essential workers out there working during the pandemic. They work during the day, night, weekends, and holidays providing important healthcare need to the American people so their compensation is justifiable.

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How much cash cushion do you need?

How much cash cushion do you need? In light of the recent current pandemic that’s creating an economic uncertainty, a cash cushion is crucial to your financial health. First, let’s discuss the difference between a cash cushion versus an emergency fund. According to the balance: In general, a cushion is a small balance (less than $1,000) that you maintain in your checking

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Best Pharmacy Schools in 2020

US News and World report released it’s best pharmacy schools list in 2020 recently. Are you an aspiring pharmacist and wanted to do research on your prospective pharmacy schools and wanted to see which school or colleges of pharmacy best fit your needs? Usually finding out the rankings of pharmacy schools is a good place to start when I am

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Tax Loopholes You Should Know

Recently I came across an article discussing legal tax loophole in the states. It’s an article from MSN and for some reason, they love slideshow. I’m going to summarize some of my favorite tax loopholes discussed in this article in one post to save you from all that clicking! Tax Loopholes The internal revenue services (IRS) allow for legal tax

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The Pharmacy Disruptor

Who is the pharmacy disruptor? In this blog post, we’ll take a look at who is the most promising pharmacy disruptor to date. Every industry has its own disruptors, in the technology sector you’ve got Facebook, Google, and YouTube leading the way. Pharmacy is an old industry long dominated by brick and mortar stores. They generate their revenue from dispensing

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December 2019 net worth update

I can’t believe it’s already time for the December 2019 net worth update! My last net worth update was back in August 2019. I have made some good progress on my investments and savings but I’ve learned and accepted that market conditions will derail some of my progress. August 2019 net worth recap My first net worth update was back in

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Backdoor Roth IRA

What is a backdoor Roth IRA? In today’s post, I will discuss my experiences with my first backdoor Roth IRA and a subsequent step-by-step guide. In my opinion, Roth IRA is one of the most versatile tax-advantaged retirement account you can take advantage of today. If you’re interested, I discussed in more detail about Roth IRA in another post and

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The Intelligent Investor Summary

The Intelligent Investor In today’s post, I will summarize and discuss the top takeaways from the book, “The Intelligent Investor” by Benjamin Graham. Warren Buffet, one of the most successful investors the world has ever known has this to say about the book. The best book on investing, ever written. Warren Buffet Investment vs. Speculation Graham defines investment as: One

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Three fund portfolio: asset allocation

If you have been keeping track of the stock market’s volatility lately, like most investors, you’ll probably want to take a peek your portfolio, asset allocation, and performance. Particularly, if you’re a fan of the three-fund portfolio, you’d wanted to know how it’s performing and make sure that you have the ideal asset allocation. I recently finished listening to The

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50/30/20 budgeting rule of thumb

What is the 50/30/20 rule budgeting rule One of the most important things in personal finance is to get intimate with your expenses and have a budget in place. And one of the simplest budgeting rules of thumb is the 50/30/20 system. Senator and Democratic presidential candidate Elizabeth Warren coined the 50/30/30 rule in her book “All Your Worth: The

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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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Digital Passive Income Ideas

In this post, we’re going to focus on top digital passive income ideas that you can start today. While there are hundreds of ways to earn passive income, the focus of this post is on five actionable digital passive income ideas for busy professionals. So-called internet gurus are painting the picture of you sipping mai tais on the beach with

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Millionaire Next Door Summary

I just finished listening to The Millionaire Next Door by Thomas Stanley on audible and I want to share with you some of its key takeaways. The Millionaire Next Door When you think of a millionaire, did you think of the people living on the Upper East Side in New York City or the residents of Beverly Hills California? The

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Interesting Personal Finance Articles

Enjoy this week’s top financial articles from the likes of Forbes, Fortune, etc. 10 Money Mistakes to Avoid in Your 30s From a financial standpoint, your thirties are the most critical decade of your life. By avoiding the items on this list you’ll radically improve your financial future and even position yourself for early retirement. High-Earning Millennials Have a Debt Problem! 

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Is a Pharmacist CV Necessary?

You are familiar with a resume but you may or may not be too familiar with a pharmacist cv (curriculum vitae). This post will guide you on the best practices on how to write a pharmacist CV and resume based upon my own experiences and research. What is a Pharmacist CV? A summary of a job applicant’s professional experience and

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The Fiverr Millionaire

What is Fiverr? Is Fiverr a viable side hustle? Apparently, it is, you can earn a lot more than $5, in fact, you can be a Fiverr Millionaire! In this post, I will summarize how four individuals were able to scale their Fiverr freelancing work and earned seven figures to become a millionaire in the process. Fiverr is a global online

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Sunday reading list

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

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Top Pharmacy Schools in Texas 2019

Do you know which pharmacy school is the top pharmacy schools in Texas? Ever since high school I’ve been infatuated with college rankings. In particular, I love browsing through the US News rankings. There are other college rankings out there but US News is probably the most known and widely cited. They have been ranking colleges since 1983! The latest

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