The Power of Giving

“We make a living by what we get, but we make a life by what we give.” – Winston Churchill

Giving is a powerful part of the financial plan.

Everyone’s philosophy towards giving is different (including how much to give, when to give, and where to give).

Reflect upon why you wanted to be a pharmacist in the first place.

When I ask this question to others, the most common response I get is “to help others.”

Therefore, if pharmacists are able to take this natural inclination towards giving and combine it with a portion of their income, it’s going to have a BIG impact.

Dream with me for a minute.

According to the Bureau of Labor Statistics, in 2022 there were 334,200 pharmacist jobs with a median pay of $132,750 per year.

If the entire workforce of pharmacists dedicated 1% of their gross income to giving, the result would be $443,650,500.

$443,650,500.

Can you imagine the positive impact that $443 million per year could have?

So, let’s start small.

If the 18,000-strong YFP community were to commit to giving $25 per month throughout the year, we would collectively give away $5.4 million.

Which Comes First?

As I reflect on those in my life who have built wealth, I notice a common theme of a heart and passion for giving.

Which came first?

While I presume their giving has increased as their wealth has increased, I get the sense they have had a posture toward giving all along.

With open hands, we have a mindset and openness to building wealth.

Why Give?

I asked a three pharmacists “Why Give” on Episode 022 of the Your Financial Pharmacist Podcast.

Here’s what they had to say:

The reason I give is because it makes me feel like I’m part of something bigger than myself and it something different than what I can do day to day in my current role.

Liz Hess, PharmD, MS, FISMP, CPPS

Our Causes

The mission of YFP Gives is to empower a community of pharmacists to give to:

• Alleviate the indebtedness of obtaining the Doctor of Pharmacy (PharmD) through the administration of scholarships to students and new practitioners.
• Promote financial literacy within the profession of pharmacy.
• Support pharmacist-led philanthropic organizations and efforts.

You can get involved in YFP Gives by making a donation to YFP Gives to fund student scholarships and/or by donating to causes we support.