Tim Baker, CFP and YFP Director of Planning answers questions from the YFP community on saving and preparing for retirement.

This episode is brought to you by First Horizon.

Summary

Planning and preparing for retirement can feel overwhelming. In this episode, Tim Baker, CFP®, RICP®, RLP®, makes the steps to planning for retirement more manageable. He answers three questions from the YFP community on retirement planning, including:

• How to determine the optimal amount to save for retirement
• Strategies for dealing with market downturns during retirement
• How different investment options impact retirement savings

This episode is brought to you by First Horizon.

About Today's Guest

Tim Baker is the Co-Founder and Director of Financial Planning at Your Financial Pharmacist. Founded in 2015, YFP is a fee-only financial planning firm and connects with the YFP community of 12,000+ pharmacy professionals via the Your Financial Pharmacist Podcast podcast, blog, website resources and speaking engagements.

Tim attended the United States Military Academy majoring in International Relations and branching Armor. After his military career, he worked as a logistician with a major retailer and a construction company. After much deliberation, Tim decided to make a pivot in his career and joined a small independent financial planning firm in 2012. In 2016, he launched his own financial planning firm Script Financial and in 2019 merged with Your Financial Pharmacist. Tim now lives in Columbus, Ohio with his wife (Shay), three kids (Olivia, Liam and Zoe), and dog (Benji).

Mentioned on the Show

• First Horizon’s Pharmacist Home Loan
• Die with Zero by Bill Perkins
• YFP Retirement Planning Series (Episodes 272-275):
  • YFP Episode 272: How Much is Enough? (Retirement Planning)
  • YFP Episode 273: Alphabet Soup of Retirement Accounts (Retirement Planning)
  • YFP Episode 274: Risk Tolerance vs Capacity (Retirement Planning)
  • YFP Episode 275: How to Build a Retirement Paycheck (Retirement Planning)
• YFP Episode 305: Understanding Annuities: A Primer for Pharmacists
• YFP Free Guide: Retirement Roadblocks: Identifying and Managing 10 Common Risks
• The Power of Working Longer (2018, Stanford Institute for Economic Policy Research)
• 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