Start With the Vision, Not the Numbers

When it comes to personal finance, most of us start with the numbers. How much should I be saving for retirement? Should I pay down my loans faster or invest more? Am I on track compared with others my age?

These are good and necessary questions, but they’re not the first ones we should be asking. Before we can build a sound financial plan, we need to clarify the vision it is meant to support. That vision, your picture of a rich, meaningful, and purpose-driven life, becomes the compass for the financial decisions that follow.

Vision Before Vehicle

When I sit down with pharmacists at different career stages, I often hear a version of the same sentiment: “I just want to feel confident I’m making the right financial moves.”

Confidence doesn’t come from chasing returns or maximizing every tax deduction. It comes from clarity in knowing what you’re aiming for and why. Without that clarity, even the best investment strategy can leave you feeling adrift. You might be checking all the boxes (maxing out your retirement accounts, paying off debt, funding college savings) but still wondering, “Is this really getting me where I want to go?”

That’s where vision comes in. Your vision is what transforms a spreadsheet into a story. It gives meaning to the numbers and helps you align your financial decisions with the life you want to live, today and in the future.

The Heart of Life Planning

In financial planning, we often distinguish between the quantitative and the qualitative. The quantitative is what most people think of when they hear “financial plan.” That is the income, expenses, investments, insurance, and taxes.

The qualitative is about purpose. It asks: What does “enough” look like for me? What brings me joy and fulfillment? How do I want to use my time and resources in the years ahead?

This is the work of life planning, and it’s not reserved just for those nearing retirement. In fact, the earlier you begin this reflection, the more aligned your career and financial choices can be.

Whether you’re a new practitioner building momentum, a midcareer pharmacist juggling competing priorities, or a preretiree with the finish line in sight, the goal is the same: to make sure your money is serving your life, not the other way around.

Three Questions That Change Everything

One of my favorite exercises, adapted from life planner George Kinder, involves reflecting on 3 simple but powerful questions:

1. If money were no object, how would you spend your time?
2. If you learned you had 5 to 10 years to live, what would change?
3. If today were your last day, what would you miss? What did you not get to do or become?

These questions force us to pause and look beyond our routines and obligations. For many pharmacists, this reflection reveals dreams that have been pushed to “someday,” such as taking a sabbatical to travel, having the time to coach their kids’ sports team, the flexibility to work part-time, or simply the peace of mind to not stress about every financial decision.

Your financial plan should make those dreams possible, not postpone them indefinitely.

From Vision to Plan

Once your vision is clear, the financial plan becomes a way to fund and protect it. Saving, investing, insurance, and tax strategy are the X’s and O’s of financial planning.

They matter greatly, and they’re what I’ll focus on in future columns. But without vision, they risk becoming disconnected tactics instead of a cohesive plan.

Getting clear on your “why” first changes everything about how you approach the “how.” It helps you make trade-offs with confidence, spend in ways that reflect your values, and know when enough is enough. The goal isn’t simply to retire someday. It’s to live with purpose along the way.

A Final Thought

In our work with pharmacists over the past 10 years at all career stages, I’ve seen the most meaningful progress happen when someone finally connects their finances to their purpose. So before you dive into the next financial checklist, take a moment to step back and ask yourself: “What kind of life do I want my financial plan to make possible?”

Get that answer right, and the numbers will start to fall into place.

Do you have a question or topic you would like to see addressed in a future column? Send Tim an email at tulbrich@yourfinancialpharmacist.com.

About the Author

Timothy Ulbrich, PharmD, is a cofounder and CEO of Your Financial Pharmacist (YFP). Founded in 2015, YFP is on a mission to help pharmacists achieve financial freedom through fee-only, virtual comprehensive financial planning services. Learn more at yourfinancialpharmacist.com.

Disclaimer: The information in this article is provided to you for your informational purposes only and is not intended to provide, and should not be relied on for, investment or any other advice. Read our full disclaimer at https://yourfinancialpharmacist.com/disclaimer/.