Any Pharmacists on here? Quest for FIRE

[haha]

Quote:

Originally Posted by azanon I'm sure he's interested in perspective buyers given his age.* Granted he paid about 600K for the part he didnt own about 10 years ago (2/3rds of it), so i hope the buyer has some cash on hand ;-). Azanon

If he is also wiling to consider prospective buyers, give the consumer a big break and call up Wal-Mart. I had to fill an antibiotic Rx recently. $44 for ten days worth at my local pharmacy, $14 a bit down the road at bad old Wal-Mart.

Ha

[Yipee-Ki-O]

Exactly which chains have horrible benefits? Walgreens, CVS, Target and all the other national chains offer excellent pay and benefits packages for pharmacists. If you'd take a job with Walgreens for instance, you'd be eligible for stock options, profit sharing, an employee stock purchase plan and a 401k with company match. If you don't even have a 401k in your current job you need to be out interviewing with a company who does.

There are other options besides retail pharmacy. I've worked for a mail service pharmacy for 18 years. It's been much less stressful than retail and financially rewarding as well (thanks to stock options, an espp and a 401k with generous matching). Both Caremark and Medco have facilities in New Jersey; go apply. Or consider a position in a hospital or long-term care facility. Or get a job with one of the temp agencies which would allow you to sample various practice settings while getting paid.

Another option would be to find somewhere with a lower cost of living and and move. You can reciprocate to any state in the USA except CA or FL with your New Jersey license. Take advantage of the mobility that pharmacy affords you.

You can't really do much about your student loan debt other than to plod along and repay it. You need to focus your attention on those things that you can control; where you choose to work and where you choose to live.

[JPatrick]

Not to hijack the thread, but considering we've got several pharmacists in the room, I've got a question.*
Have any of you heard of Bio Script? Stock symbol is BIOS and they manage pharmaceutical operations in a variety of settings. Sort of stumbled into a fair amount of this stock and I'm trying to get the pharma view of the operation.* It actually may be a job lead as well as I know they are looking for some of you guys.
http://www.bioscrip.com/

[dougie790]

To clarify, I dont have a NJ license anymore, I have been in PA for the last 3 years. I could never do mail order, I was offered a job at medco but couldnt bear going there and just checking meds all day. I also worked in long term care for 2 years and hated it, the hours are terrible. I like home infusion, its a good blend of corporate and hospital and the hours are great, m-f 830-5, some on call but no weekends. I know walgreens has good benefits but they are not worth being in a store and being treated like dirt. I will never do that again. I was at Rite Aid for two years when I graduated and I will never sacrifice my self-respect like that again. I truly learned the value of money while I was there. It means nothing if you dont have a life and time with your friends and family. If you cant look at yourself in the mirror, money is not relavent. I am doing well in infusion, have a management position in a small growing company and am waiting for them to put a 401k in place.

[Dreamer]

Neither my spouse nor myself have ever come close to what you are earning and I will have 32 years in with my job the 21st of this month. Yet we did manage to buy our house and had it paid off just shy of 10 years. We don't live in a high cost area and we just kept plugging away at paying off the house with any extra money that we had that month. We also did not get into any credit card debt that we could not pay off at the end of the month. I would agree that I would get the credit cards paid off first and keep them paid off. I would then make a great effort to pay off your car loans and keep the cars for at least 10 years if possible. Just remember that slow and steady wins the race!! Good luck. Sometimes things can seem overwhelming at first, but you will be surprised at how quickly they can be turned around when you consistently make small changes. Also, try to avoid eating out on a routine basis. That can really get to be expensive in no time at all. Keep reading the board, paying off the debt and with your salary you should be looking good in a fairly short time.

Dreamer

[dougie790]

Thanks so much to everyone for their kind words of inspiration. In my younger days when I first got engaged and moved out of my parents house, I had some spending problems and ran up a good bit of CC debt. I am paying for that now. I realized the error of my ways and now that we are married we are doing our best to be as frugal as possible and put money away. Our biggest problem though, is eating out. We both work stressful jobs so once a week or more we want to go out and eat, maybe a beer or two sometimes (although I have cut that out considerable from the past). We have been doing our best to stay in for dinner, since she is a VERY good cook, and I also never order out lunch when I am at work-I always bring leftovers or something else from home. Above all, while I get overwhelmed by things sometimes, I realize I am blessed with a great life, a wonderful wife and family, and a promising career. So I know what true wealth is and I feel I already have it. So all I need to do is be patient and the monetary stuff will come in time. Thanks again.

Dave

[VoyT]

How much would it cost you to get out of your wife's lease for that corolla and getting something less expensive, like a Scion?

Have you considered pharmaceutical companies? Have a relative who has a pharmacy degree. He started as a sales rep and got into corporate, and is doing quite well....

[dougie790]

She loves her car and Im sure the penalties would be steep. Pharmaceutical companies pay nothing unless you have a PHd or MD. If someone else suceeded that way, thats great but I dont have 30 years to get back to making what I make now. I cant afford to take a pay cut. What I make now is a lot more than 90% of those in the pharmaceutical industry. I tried that option in the past and its too much work and hassle for very little money. Unfortunately, pharmacists are not desired there like they are in the clinical world.

[SteveR]

Dougie790,

I have worked more than 30 years in Pharmaceuticals and Medical Devices and I can relate to what you are saying. I also know many pharmacists that work in Pharma. and do moonlighting at the local pharmacies. Three have ER's because of the cash they were able to save. Pharma. does pay pretty good in some areas and not so good in others. The key is getting into management where you start getting bonuses and options. That is true in most any industry though.

I have had my share of stress and long long hours but my current job was selected specifically for fewer hours yet I still get a decent paycheck, full medical, 401(k) with a % match and stock options that may actually be worth something some day.

It is hard to break into the big money unless you are willing to sell your soul to the devil or work in sales and marketing (same thing) or are able to get into higher management jobs but those are few and far between with all the cuts in the industry and flattening of the organization. Also, it is a very tough area to work in due to resource constraints and federal regulations. Foreign competition from India and China will eventually kill the generic drug industry in this country so be prepared for that.

[dougie790]

I am in management now for a home infusion company. My only hope is that with my background and experience someday I can get into some sort of management position in industry and get some serious benefits and bonus money. My company does not have a 401k at the moment and probably wont for a year and even then im sure there will be no match and im sure a terrible plan since its such a small company (15 employees). I like it though and i'm getting great experience running a pharmacy and basically building one from scratch with the new 797 requirements that are coming up. Hopefully I can get into some sort of consulting gig with a huge company. Someday, but for now I am just trying to save as much as I can and still enjoy life. I am good on the big things, never was into cars (love my 2003 Galant which will be paid off in two years and I will drive it til it dies!) or big flashy stuff. However, its the little things that kill me, eating out (which we have a clamp on) and mcdonalds and stuff like that, little trips to Target. I just gotta keep my eye on the prize. My loans will be paid off at 55 so I guess thats when I am going out. I will have more money than I know what to do with then. Thanks.

Dave

[gwix98]

Dave,

A little story that may interest you:

Our former pharmacist who was working at local
pharmacy here in the PNW was either approached or
had some contact with WalGreens.

Said that they would want an experienced pharmacist
to relocate in the greater Phoenix area for 6 years.

For that 6 year committment they would pay him
1 million dollars. Guess thats how desperate they were for pharmacists at that time...hard to believe that
is a true story..and maybe its just a story, but
its nice to know you are in a career path with options!

gwix

[P.S.]

Hmm.. seems like quite a pickle, but be encouraged that the median/average household income is much less than yours.
We have basic phone service with verizon which is less than $10/mo, each phone call a few cents. One feature- caller ID. Long distance calls, we use MCI phone card from Costco @3 cents/min. Dial up internet $12/mo. No cell phone but we probably will get one in the future, most basic plan, expressly used for emergencies only, no convenience calls.
I have only ever heard bad things about leasing a car...maybe is there a way out of that?
I know family time is very important to you but I guess you weigh the burden of debt vs. paying it off and make your decisions. Moonlighting would bring in extra money.

[dougie790]

This thread kinda died off. I was hoping to hear from somebody working in the field saying hang in there, blah blah, you will get there cause I did it working at CVS/Rite Aid, etc. Or even better would be someone in my particular area, home infusion. The salary is a little less but its a much better lifestyle and environment. Thanks for your responses and insight. I know I just have to cut out as much as we can cut out.

[Martha]

What is home infusion anyway? Curious.

[REWahoo]

Quote:

Originally Posted by Martha What is home infusion anyway? Curious.

Good question. I think it may be shorthand for "giving the real estate market a shot in the arm", but I'm interested in hearing it from a professional..

REW

[Nords]

Quote:

Originally Posted by Martha What is home infusion anyway? Curious.

Sounds pretty painful... I don't know how they make the entire house fit through that "little" needle...

[dougie790]

Haha, good one. Home infusion is an area of pharmacy that deals with IVs given in the home. The patient leaves the hospital and can continue IV therapy in the home, with nurses visiting periodically. The patient is taught how to administer and maintain everything. We also do long term patients with chemotherapy, nutrition, and pain management. Insurance covers these treatments when they want to get the patient out of the hospital or when they wont pay for inpatient treatments. So basically I am in an office and we mix everything in a sterile cleanroom and the IVs are delivered to the patients home and then nurses visit them as needed. It has good hours, 830-5 M-F (which may seem normal to others, but in the pharmacy world these are very rare), however we are on call 24/7. It is a very challenging and interesting practice dealing with novel therapies and backgrounds that you would not be exposed to in retail. I guess it could be summed up as the middle ground between hospital and retail pharmacy if that makes any sense.