Trapped in debt while making $100,000 per year?

First one!

Welcome to the inaugural post on my blog.  I thought this first post should really just be short and describe what my goal is here on pharmvest.


Too many pharmacists move through life without really choosing their path.  Seeming to move and accept what comes their way (good or bad).


  • whatever job is easiest to get after graduation
  • buying a house right after graduation (because you have to, right?!)
  • buying a fancy car immediately
  • ignoring student loans, or mismanaging them etc.


I talk to people about these things all the time.  Unfortunately, it’s really common for people to be in big financial holes in healthcare – I’ve met a bunch.  Worse yet, most of the pharmacy students and residents I talk to now consistently have student loan debt above $150,000 before they even get out of school/residency.


If you don’t have a plan, it’s easy to become trapped.


Trapped by a job you don’t want because it pays “enough” versus a job you’d love that pays 10% less.

Trapped by a home or car you bought before you knew enough to make the right choice for you.

Trapped by friends who think you should be spending more.


Several years ago I had a similar feeling… and I wanted to choose to get out 


I didn’t really know what that meant or meant for me.  Ever since, I’ve been trying to work through several things:

  • what makes me happy?

    Spoiler.. I can’t have Homer.
    But apparently a crappy picture of my sister’s cat is perfectly legal!
  • am I saving enough for retirement?
  • am I maximizing my job satisfaction?
  • what’s a 457b retirement plan anyway?
  • is it legal to use Homer Simpson pictures on a website?


Pharmacists are really lucky.


Most of us come out with the ability to make over $100,000 per year – well above the median household income in the United States (which is about $56,500).  Sure, we will often have significant Student Loan Debt, but that isn’t unique to pharmacy and definitely isn’t an insurmountable problem.


I feel very strongly that pharmacist’s have an extraordinarily good opportunity to create the life they truly desire for themselves, their family, and their community.  Making a few key financial decisions early can set the stage for an incredible life that, sadly, most families aren’t able to achieve.  And with financial stability can come increased charitable work, increased community involvement, and plan ole’ happier work environments.


If you are just starting out, or established in your career, and you fear you are becoming trapped.  Or just want some pointers to get started on the financial right path.   I hope you’ll give this website a try and see if I can’t provide some potential escape routes you might be missing or tools to get you to your happy place.


My happy place =)

One thought on “Trapped in debt while making $100,000 per year?

  1. Pingback: Top 6 things a new pharmacist graduate must do for their financial health ~ pharmvest

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