The average salary of a pharmacist in Akron, Ohio is approximately $117,000 per year, while the average student graduates from pharmacy school with $157,000 in debt. That first value is encouraging, but the second? Not so much.
In their co-authored book, Seven Figure Pharmacist, Timothy Ulbrich, Pharm.D., an associate professor of pharmacy practice, and Tim Church, Pharm.D., a clinical pharmacy specialist at the West Palm Beach VA Medical Center, propose ways to overcome debt and become financially secure. During a recent Pathways to Pharmacy session, Dr. Ulbrich discussed financial planning with high school students and recent grads, as he does with graduating College of Pharmacy students. Stressing it’s never too early to be financially responsible, Dr. Ulbrich encouraged students minimize student loan debt as much as possible and to save early, often and aggressively, so they can comfortably give, help others and retire at an age they’d like to. His mantra: Compounding isn’t just for pharmacy, it’s for financial growth as well.
Nearly one out of every five Americans spend more than they earn. Dr. Ulbrich and Church are here to combat that ratio by raising awareness and educating their readers on financial responsibility. The Seven Figure Pharmacist offers advice on minimizing student debt, creating budgets, maximizing income, how to wisely invest money, and more. The book is available at www.sevenfigurepharmacist.com.