Pharmacy exit strategy

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BenJammin

BenJammin

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How many of you have an exit strategy from pharmacy? I'm not talking to you guys who are 50-60 and have done great in the stock market. I'm talking to the pharmacist in his 20s and 30s that wants to get out. Any of you in that boat?

I've seriously considered it and have expanded my streams of income to prepare for it. Pharmacy is changing my friends. We will get to a point where we are at the mercy of either the insurance companies or the federal government. I don't think any of us will recognize this profession 10 years from now.
 
It's a legitimate question unless you are supporting the idea of slavery. Are pharmacists required to be pharmacists for their entire life? Not allowed to venture into another profession?
 
It is getting bad. in my district all staff pharmacists will only get low 30 hrs every week. i would have no problem with the cut in rph hours if at least we had enough tech hours. It is a mess right now. at least it is a wake up call for me!!
 
I'm saving to move abroad and open a non-pharmacy business there. I always love to own an intimate coffee shop and a gym. 🙂:biglove:
 
I have said it’s million times. Nursing home administration is a great backup plan. Right now I’m making more money as a pharmacist, but when/if that scale tips in the other direction, this is what I will be doing.
 
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The pharmacy exit train left in 2012 when assets were cheap.
 
JustFillIt said:
I have said it’s million times. Nursing home administration is a great backup plan. Right now I’m making more money as a pharmacist, but when/if that scale tips in the other direction, this is what I will be doing.
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The scale tipped a while back. Read the papers.
 
letsrun11 said:
Saving like mad and investing "wisely"...Also currently working a side job as a tutor.
I will probably become a scuba diving instructor when I leave retail, no one can talk to you underwater hahahaha
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There’s actually really cool full face masks that you can use and it enables you to talk. ‍♂️
 
1) Married second income earner - able to live on their salary (minus the flourishes)
2) Looking into taking Bar exam (sort of my floating 10 year plan)
3) Specialized into a pharmacy niche that is growing and relatively difficult to fill (oncology)
4) Have multiple domiciles outside of the country, can essentially decamp there if SHTF. Pharmacy degree valid there so I can do things.

I'm about as diversified as you can get short of buying a converted missle silo in BFE.
 
In the event I am unable to be a pharmacist anymore, I would try and work in security or for the government in some sort of bureaucratic position and work my way up. Pharmacists are generally trustworthy, efficient and knowledgeable all around so I would try to leverage those assets into my next job.

It's fun to speculate exit strategies, but I remain hopeful in our future.
 
If my parents pass away, they will leave everything to me including their house, 401k money and savings. If I could get all that I can retire myself. If pharmacy goes down in flames, I can always buy some cyanide and make some coffee for my parents and I will be ok.
 
working on it right now as we speak. Once student loans are paid up, I'm done with this profession
 
MilknCheerios said:
Pharmacists are generally trustworthy
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Not based on the CPJE fiasco they’re not. And that is only scratching the surface of the cheating culture that pharmacy school breeds.

MilknCheerios said:
efficient
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Not as efficient as robots they’re not. Most pharmacists aren’t critical thinkers either, they are order-takers.

MilknCheerios said:
and knowledgeable
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Don’t get me started on how this profession is a farce and we are all just doctors of looking things up on Lexicomp.

MilknCheerios said:
It's fun to speculate exit strategies, but I remain hopeful in our future.
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Well I don’t.
 
Pharmacy is a Scam said:
Not based on the CPJE fiasco they’re not. And that is only scratching the surface of the cheating culture that pharmacy school breeds.


Not as efficient as robots they’re not. Most pharmacists aren’t critical thinkers either, they are order-takers.


Don’t get me started on how this profession is a farce and we are all just doctors of looking things up on Lexicomp.


Well I don’t.
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Look - if you want to go be a bum and convince yourself that your decision to go into pharmacy ruined your life then go right ahead. I was vacationing in Seattle this year and I saw a bum walking around with sh** smeared all over the outside of his pants. He was mumbling something about the board game Hungry Hungry Hippos.

You could always go bunk up with him.... As for me, I am going to continue paving out great options for myself as I adapt to the changing times.
 
JustFillIt said:
Look - if you want to go be a bum and convince yourself that your decision to go into pharmacy ruined your life then go right ahead. I was vacationing in Seattle this year and I saw a bum walking around with sh** smeared all over the outside of his pants. He was mumbling something about the board game Hungry Hungry Hippos.

You could always go bunk up with him.... As for me, I am going to continue paving out great options for myself as I adapt to the changing times.
Click to expand...

This is the elixir of life. Play this song in your head as a customer screamed at your ass

 
JustFillIt said:
Kinda like how a large student loan will block you from home ownership.

Give me a break.
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Got a large student loan, yet was approved for $600,000 mortgage. Where are you getting this info? haha Mortgage companies give you loans based on your monthly input and output. If you pay $1500/month on a large loan, you're not financially savvy and wasting money. Also, mortgage companies will see that you're spending too much money and think you won't be able to afford to pay for your mortgage.
 
BMBiology said:
The funny thing is that homeless man doesn’t have a negative net worth like this fool.
Click to expand...

Dude you have no idea how abundantly rich my life is.

The best part of the pharmacy job market is the knowledge that I am competing for jobs with people like you.
 
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VictorOfHungerGames said:
Got a large student loan, yet was approved for $600,000 mortgage. Where are you getting this info? haha Mortgage companies give you loans based on your monthly input and output. If you pay $1500/month on a large loan, you're not financially savvy and wasting money. Also, mortgage companies will see that you're spending too much money and think you won't be able to afford to pay for your mortgage.
Click to expand...

BM seems to know everything, I would ask him.
 
MrBonita said:
If my parents pass away, they will leave everything to me including their house, 401k money and savings. If I could get all that I can retire myself. If pharmacy goes down in flames, I can always buy some cyanide and make some coffee for my parents and I will be ok.
Click to expand...

Even if this is a joke, it's not funny and you're sick. If this isn't a joke, I'm calling the cops.
 
BenJammin said:
How many of you have an exit strategy from pharmacy? I'm not talking to you guys who are 50-60 and have done great in the stock market. I'm talking to the pharmacist in his 20s and 30s that wants to get out. Any of you in that boat?

I've seriously considered it and have expanded my streams of income to prepare for it. Pharmacy is changing my friends. We will get to a point where we are at the mercy of either the insurance companies or the federal government. I don't think any of us will recognize this profession 10 years from now.
Click to expand...
If you are smart a coding bootcamp is a good strategy. If not try something like real estate. Or just learn a trade. Plumbers, electricians, handyman make a lot of money.
 
MrBonita said:
If my parents pass away, they will leave everything to me including their house, 401k money and savings. If I could get all that I can retire myself. If pharmacy goes down in flames, I can always buy some cyanide and make some coffee for my parents and I will be ok.
Click to expand...
Lucky. Im going to be having to ignore the phone calls when mine run out of cash bc they spent it all at Whole Foods and TJMaxx

My goal is to pay off all the things and save what I was paying to the man
 
Do Real estate... make 30 grand if you sell a 500k home.. only need a 6 month training.. Sell 5 homes a whole year and you are set. All you need to do is wear revealing dresses while knowing how to point and say " this is the bath room, living room etc... ".
 
confettiflyer said:
Lol people still think real estate and coding are easy money/sure things? Bahahah


Sent from my iPhone using SDN
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Yea but if pharmacy is no longer easy money you'll see pharmacists who lose their jobs figure they have nothing to lose trying to get into other fields.
 
MrBonita said:
If my parents pass away, they will leave everything to me including their house, 401k money and savings. If I could get all that I can retire myself. If pharmacy goes down in flames, I can always buy some cyanide and make some coffee for my parents and I will be ok.
Click to expand...
What the **** did I just read
 
1) Move to Estonia, commit computer crimes
2) Move to Panama, open up a bar on the beach.
3) Sell house, use equity to buy house in WV. Get a job doing whatever. Or file for disability. It's easy to get. Just get caught doing crazy **** in public 3-4 times. Hire a disability lawyer. Boom, done.
 
ancienbon said:
It is getting bad. in my district all staff pharmacists will only get low 30 hrs every week. i would have no problem with the cut in rph hours if at least we had enough tech hours. It is a mess right now. at least it is a wake up call for me!!
Click to expand...
Which state or city?
 
confettiflyer said:
Lol people still think real estate and coding are easy money/sure things? Bahahah


Sent from my iPhone using SDN
Click to expand...

Word on the street in Minneapolis and Edina is that the major companies hiring CS grads are going through the same issues as pharmacy right now. Medtronic, Activision, 3M, Optum, and Surescripts being some of the largest employers of tech don't have openings, and they are getting more abusive of the ones they have (3M and Activision especially have horror stories right now). Accounting is holding steady, but that too is beginning to show some pressure. We don't need any more PA's or NP's either judging from the competitiveness of positions as of late. And that's the established companies, we'll see what happens when the VC money dries up. Hope you've enjoyed Uber, DoorDash, MoviePass, and WeWork while they lasted.
 
Sleepingdoc said:
Do Real estate... make 30 grand if you sell a 500k home.. only need a 6 month training.. Sell 5 homes a whole year and you are set. All you need to do is wear revealing dresses while knowing how to point and say " this is the bath room, living room etc... ".
Click to expand...

In my area the agents sit there and play on their phones during the open house. They often know nothing about the house. I asked one if the street had a gas line and she told me to ask my agent. I called the gas company myself to get the answer, took 3 mins. Offers are due the following Monday or Tuesday and the houses sell for 30-90k over asking price.
 
lord999 said:
Word on the street in Minneapolis and Edina is that the major companies hiring CS grads are going through the same issues as pharmacy right now. Medtronic, Activision, 3M, Optum, and Surescripts being some of the largest employers of tech don't have openings, and they are getting more abusive of the ones they have (3M and Activision especially have horror stories right now). Accounting is holding steady, but that too is beginning to show some pressure. We don't need any more PA's or NP's either judging from the competitiveness of positions as of late. And that's the established companies, we'll see what happens when the VC money dries up. Hope you've enjoyed Uber, DoorDash, MoviePass, and WeWork while they lasted.
Click to expand...
www.fastcompany.com

Report: Not even Airbnb can turn a profit

The company’s operating loss more than doubled in its first quarter, according to a new report.
www.fastcompany.com www.fastcompany.com

Still, with Lyft and Uber both having bumpy IPOs due to jittery investors, and WeWork having recently abandoned its IPO, it’s no surprise that a quarterly loss that more than doubles could give investors cause for concern.
 
WVUPharm2007 said:
3) Sell house, use equity to buy house in WV. Get a job doing whatever. Or file for disability. It's easy to get. Just get caught doing crazy **** in public 3-4 times. Hire a disability lawyer. Boom, done.
Click to expand...

This is becoming less of a contingency plan and more like a goal for me. I've been finding houses for under 100k in my old city. Some are in bad neighborhoods, but others are just smaller and older. It can be pretty easy to survive in a low CoL area if you don't go house poor buying some McMansion.

Hell, if I can switch to 100% remote I may just do this in a few years then coast along to an early retirement.
 
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