Health Savings Accounts (HSAs) are a modest but mighty tool for healthcare and retirement planning with a rare triple-tax advantage. Tim Ulbrich and Tim Baker share 2025 limits, key benefits, and common mistakes pharmacists make.

This episode is brought to you by First Horizon.

Mentioned on the Show

• First Horizon’s Pharmacist Home Loan
• YFP Blog: Why I’m Not Using My Health Savings Account to Pay for Medical Expenses
• YFP 165: The power of a Health Savings Account
• Reference: Investment News Barron’s
• YFP 124: The Behavioral Investor with Dr. Daniel Crosby
• Your Financial Pharmacist
• Your Financial Pharmacist on YouTube

Episode Summary

Health Savings Accounts (HSAs) are a modest but mighty tool for both healthcare and retirement planning, offering a rare triple-tax advantage: tax-deductible contributions, tax-free growth, and tax-free qualified withdrawals. But despite these benefits, many pharmacists aren’t maximizing their HSA—or worse, are making costly mistakes.

In this episode of the Your Financial Pharmacist Podcast, Tim Ulbrich and Tim Baker break down:

✅ What HSAs are, how they work, and 2025 contribution limits
✅ Why HSAs can serve as a “stealth” retirement account
✅ Common mistakes like non-qualified expenses and poor record-keeping
✅ How to choose the right HSA provider and designate beneficiaries
✅ Tips for investing your HSA funds for long-term growth

Whether you’re just starting out with your HSA or looking to fully optimize this powerful account, this episode is packed with insights to help you avoid pitfalls and maximize your benefits.

Tim Ulbrich and Tim Baker tackle one of the most common questions we hear from pharmacists: “Do I need this whole life insurance policy?” They dive into who needs coverage, common misconceptions, and why the “buy term and invest the difference” strategy may be the smarter approach.

Episode Summary

YFP Co-Founder & CEO, Tim Ulbrich, PharmD, and YFP Co-Founder & COO, Tim Baker, CFP®, RLP®, RICP®, tackle one of the most common questions we hear from pharmacists: “Do I need this whole life insurance policy?”

We’ve seen an increasing number of pharmacists with expensive whole life insurance policies that are often complex, costly, and not always the best fit. In this video, Tim and Tim break down:

✅ Who actually needs life insurance (and who doesn’t)

✅ The role life insurance should play in your financial plan

✅ The key differences between term life and whole life coverage

✅ Why “buy term and invest the difference” can often be the smarter strategy

✅ The conflicts of interest that sometimes drive whole life sales

By the end, you’ll better understand the benefits, costs, and misconceptions around whole life insurance so you can make an informed decision about what’s right for your financial future.

Mentioned on the Show

• Join APhA - Get 25% Off with Code YFP
• Life Insurance for Pharmacists: The Ultimate Guide
• Your Financial Pharmacist
• Your Financial Pharmacist on YouTube

Asking for and getting a raise can make a significant difference in your financial plan for years to come. In this episode, Tim Ulbrich walks through a five-step playbook with practical tips and strategies to help you confidently ask for and get the raise you deserve.

Episode Summary

Asking for and getting a raise can make a massive difference in your financial plan, not just today, but for years and even decades to come.

For many pharmacists, the thought of walking into their boss’s office and asking for more money can feel as unpleasant as getting a cavity filled. It’s uncomfortable, awkward, and full of “what ifs”: What if they say no? What if I ruin the relationship? What if they think I’m being greedy?

The truth is, most people never get a big raise for one simple reason: they never ask. And that “ask” isn’t just about adding dollars to your paycheck. It’s about building confidence and advocating for the value you bring to your role.

In this episode, YFP Co-Founder & CEO, Tim Ulbrich, PharmD, breaks down a five-step playbook with practical examples, real-world negotiation tips, and a few favorite strategies from Chris Voss’s Never Split the Difference. Whether you’re aiming for your first raise or looking to boost your income long term, this episode gives you the tools to confidently ask for and actually get the raise you deserve.

Mentioned on the Show

• YFP YouTube Channel
• YFP 384: Beyond Salary: Negotiating Your Value in the Workplace
• Never Split the Difference by Chris Voss
• Your Financial Pharmacist