YFP 229: How This Pharmacy Professor's Debt Free Journey Ignited His Passion to Teach Others

Your Financial Pharmacist

Bhavik Shah talks about his debt-free journey, his early missteps, and how he used his experience to further the financial literacy education of other pharmacists.

Key Points From This Episode

• An introduction to today’s guest, Bhavik Shah.
• Bhavik’s academic background and why he chose a career in pharmacy and teaching.
• The money scripts Bhavik was raised with and how they impacted his mindset.
• How he graduated with $80,000 of student debt and paid it off in just six years.
• Why he considers it a mistake not to have taken advantage of Roth contributions to get tax-free growth.
• What Bhavik means by emphasizing being your own steward, and what motivated this.
• How he learned the importance of understanding the basics before hiring a professional.
• Financial education and literacy and why it is important.
• What motivated Bhavik to create his course on financial literacy.
• Bhavik’s thoughts on whether a personal finance piece should be included in the PharmD program.
• Resources he has found helpful, including the White Coat Investor and the Money Guy.
• How student debt deters people from pursuing postgraduate education.
• The role of financial education in preventing this barrier.

Links Mentioned in Today’s Episode

• YFP Planning: Financial Planning for Pharmacists
• Book a Free Discovery Call with YFP Planning
• GoodRx: Nominate Your Favorite Pharmacy Professional
• YFP 044: How to Determine Your Life Insurance Needs
• YFP 045: How to Determine Your Disability Insurance Needs
• Why Most Pharmacists Should Do A Backdoor Roth IRA
• YFP 096: How to do a Backdoor Roth IRA
• Policygenius
• Accreditation Council for Pharmacy Education
• Join APhA - Get 25% Off Your Membership with Code: YFP
• The White Coat Investor Blog
• The White Coat Investor's Financial Boot Camp: A 12-Step High-Yield Guide to Bring Your Finances Up to Speed by James M. Dahle
• Your Financial Pharmacist
• The Money Guy Show
• The Money Guy Podcast
• The Money Guy Financial Order of Operations Course
• Your Financial Pharmacist Disclaimer and Disclosures