Tim Ulbrich and Tim Baker answer two questions from the YFP community on using 529 funds for student loans and the most cost-efficient ways to invest in digital assets like Bitcoin.

Summary

In this episode, YFP Co-Founder & CEO Tim Ulbrich, PharmD, is joined by YFP Co-Founder & COO Tim Baker, CFP®, RLP®, RICP®, to answer two insightful financial questions from the YFP community.

First, they explore whether it makes sense to use 529 plan funds to pay off student loans. Tim and Tim break down the relevant provisions of the SECURE Act, highlight key limitations and tax implications, and discuss scenarios where this strategy could be beneficial—or not.

Next, they tackle a question about buying Bitcoin efficiently. They compare the most cost-efficient ways to invest, including using various platforms, ETFs, and tax-advantaged accounts like IRAs. They also weigh the pros and cons of each approach, including fee structures, accessibility, and long-term considerations.

Whether you’re considering how to best use your 529 funds or exploring your first steps into cryptocurrency, this episode provides practical, pharmacist-specific guidance to help you make informed financial decisions.

Mentioned on the Show

• YFP 368: How Much is Enough for Kids' College?
• YFP 211: The Ins and Outs of the 529 College Savings Plan
• YFP 404: 5 Key Questions to Ask Before Hiring a Financial Planner
• YFP 386: Cryptocurrency & Digital Assets: Definitions, Origins, and Risks
• YFP 387: Cryptocurrency & Digital Assets: Investment Considerations and Tax Implications

Should you pay off your mortgage early? YFP Co-Founder & CEO, Tim Ulbrich, PharmD unpacks the math, emotions, and big-picture factors in the mortgage payoff debate—plus 5 reasons when it may make sense to pay extra on your mortgage.

Summary

Should you pay off your mortgage early? It’s a question that comes up often in personal finance—and the answer isn’t always as straightforward as the math suggests.

In this episode, YFP Co-Founder and CEO Tim Ulbrich, PharmD, unpacks the numbers, the emotions, and the bigger picture behind this important decision. Using a real-life example and the YFP Early Payoff Calculator, Tim walks through how even small extra payments can shave years off your loan term and save you thousands in interest.

But here’s the twist: despite the financial benefits, Tim has personally decided not to pay off his mortgage early. He shares his thought process along with five compelling reasons why making extra mortgage payments might make sense for others.

Whether you're deep into your mortgage or just getting started, this episode will help you evaluate your options and make a decision that aligns with your long-term goals.

Mentioned in Today’s Episode

• • YFP Early Payoff Calculator
  • YFP YouTube Channel
  • YFP Book a Discovery Call
  • YFP Disclaimer
  • Subscribe to the YFP Newsletter
  • Tim Ulbrich on LinkedIn
  • YFP on Instagram
  • YFP Facebook Group

How do you turn your retirement savings into a reliable paycheck? In this episode, YFP Co-Founder & CEO, Tim Ulbrich, PharmD, and YFP Co-Founder & COO, Tim Baker, CFP®, RLP®, RICP®, break down three common strategies for building a retirement paycheck — including how each works, who they’re best for, and the pros and cons to consider.

Summary

How do you turn your retirement savings into a reliable paycheck? In this episode, YFP Co-Founder & CEO, Tim Ulbrich, PharmD, is joined by YFP Co-Founder & COO, Tim Baker, CFP®, RLP®, RICP®, to explore three common retirement income strategies: the flooring strategy, bucket strategy, and systematic withdrawal strategy.

Together, they break down how each approach works, who they’re best suited for, and the pros and cons you should consider. You’ll also hear insights on the emotional and psychological shifts that come with leaving behind a steady paycheck and the importance of building flexibility into your retirement plan.

Whether you're approaching retirement or just starting to think about your long-term goals, this episode will help you better understand how to create an income stream from your hard-earned assets.

📅 Ready to work one-on-one with a fee-only financial planner? Schedule a free discovery call at yourfinancialpharmacist.com to learn how our team can help.

Mentioned on the Show

• YFP Episode 189: Options for Investing When You’re Maxing Out Your Retirement Accounts
• YFP Episode 272: How Much is Enough?
• YFP Episode 273: Alphabet Soup of Retirement Accounts
• Die with Zero by Bill Perkins
• YFP Episode 305: Understanding Annuities - A Primer for Pharmacists
• YFP Episode 404: 5 Questions to Ask When Hiring Your Financial Planner
• YFP Blog: How Much You Need to Hang Up Your Coat: All About the 4% Rule
• YFP YouTube Channel
• YFP Book a Discovery Call
• YFP Disclaimer
• Subscribe to the YFP Newsletter
• Tim Ulbrich on LinkedIn
• YFP on Instagram
• YFP Facebook Group
• Tim Baker on LinkedIn