TFC Year 3 Update

It’s time for a TFC update.

The previous update was July 2024 when the TFC household achieved millionaire status. A huge milestone for us as we approach the midpoint of our financial independence number. You can read that article here as it provides a bit of background info: Thirty, Flirty, and Thriving Millionaires.

This is the 2025 midyear update reflecting the 3-year mark as a CRNA.

This is a vulnerable topic discussed with the intention of transparency among the community and overcoming the taboos of discussing personal finance. I am writing this to share my personal finance journey. This is not financial, tax, investing, or career advice. It’s just my story.  

The following table is a snapshot of my net worth over time.

Phase I is where I worked a $10 per hour job throughout high school to pay for undergrad at a state university.

Phase II is time as a Registered Nurse. Pay was below average, but the hours were plentiful.

Phase III is anesthesia school where almost all of my net worth vanished towards tuition costs.

Phase IV is our status as DINK household (dual income, no kids) with two advanced practice degrees.

Phase V is time as a CRNA. We transitioned to one income “1.5 Years Out.” Years after this are a one-income household. That income being a locum CRNA income.

TFC Net Worth Progression

Over the past 3 years, we have noted significant growth in many areas of life, career, and net worth. Again, years 0 to 1.5 were as a DINK household. Full time W-2 positions for both of us (CRNA/NP combo). Years 1.5-3 were locum work with one income.

CRNA Net Worth Progression Year Over Year

Based on this progress, you can see my extreme views on personal finance persist. I’m in the camp looking to work hard and save diligently for a few years to buy freedom from a paycheck for life.

I have the math right here: Locum CRNA: Financially Independent in 5 Years.

Work

I continue to locum earning an average locum rate in the Midwest. My gross earnings exceed other CRNAs due to call and weekend coverage. It looks like I will work 46-48 weeks this year (down from 50 last year). Hours worked per week vary, but I run 40-50 hours per week depending on call. Speaking of call, I’ll work an estimated 20 weekends and 125 days of call from home.

The jobs I have held (FTE and locum) are currently open. That means another CRNA could literally work the exact same jobs and see the same income.

Locum work isn’t for everyone. There are major hassle factors at play:

• Time Away From Family

• Increased Travel Time

• Unfamiliar Environment

• Job Instability

• Frequent Relocation

• Frequent Negotiations

However, if you are looking for a financial boost and the short path to FI, there isn’t a better way. For most locum CRNAs, a mid-six-figure income is attainable. Decide if the inconveniences of today are worth the conveniences of tomorrow. This is a choice made on an individual basis.

What’s changed since July 2024?

We travel significantly for work yet maintain a home base. Renting at all locations allows us to keep our expenses low, hassle factor low, and savings rate high.

We find longer, 6-month contracts desirable. We travel with significant baggage making the weekly relocation a major pain point. Since we travel as a family unit, longevity is dictated by accommodations for Mrs. TFC, the kids, the dog, etc… And yes, these compromises limit job selection.

Longer contracts are convenient provided they are within a couple hours of our home base. It’s nice to return to the same place of work. Something about not getting lost all the time and knowing where supplies are kept. It’s refreshing to see familiar faces at work.

One Last Digression…

Regarding my work as a locum, I have a blog section titled “1099 and Locum” that you may find of interest. These blogs elaborate on life as a locum CRNA.

Back in February 2025 I published “Locum CRNA: Lessons After 1 year.”

This blog post, which includes input from Mrs. TFC, speaks to the following:

• Our Situation

• Job Criteria

• Housing Selection

• Negotiations

• What the Job Looks Like

• Traveling

• Our Thoughts About Traveling

If you are wondering, Is Locum Work For Me? I have the post for you.

What hasn’t changed since July 2024?

The TFC fam continues to embrace the Moneymoon. We continue to frontload effort and pad our investments. At this point in our lives, we can chase contracts, put in the work, and stash the cash.

If we continue at our current savings rate, we are looking at achieving our original FI goal of $2.2-$2.5M (in investable assets) in just 2 more years (age 33).

This was our FI number because it reflected the average family of four cost of living (COL) in the United States. Applying the 4% rule, this would allow an annual COL of $88,000 to $100,000. This amount would increase with inflation, so it would theoretically provide us a middle-class lifestyle indefinitely without ever receiving another paycheck.

The plan to reduce workload after achieving FI remains. It’s a toss up between an on/off job and 1-2 weeks of locum work per month. I’ll look for enough revenue to cover living expenses. Additional investments would be a bonus.

Investing Overview

I was cash heavy my first year of locum work. Just held an excessive amount in checking. The was due to the uncertainties of locum work and what my tax bill might be. It was a conservative approach that stunted my annual return, but allowed me to sleep at night.

Now that I have been in the locum game a while, there is more predictability. This year I have tax estimates allowing me to take distributions more confidently. This means cash spends less time in the business checking account and more time at Vanguard.

Investing Accounts

We prioritize three main tax-advantaged accounts, a Solo401(k), IRA, and HSA. We frontloaded these accounts during the first few months of the year with the dollars remaining after paying our 2024 tax bill.

The maximum allotment of $162,550 was placed into the following accounts:

• Backdoor Roth IRAs - $14,000

• HSA (Family) - $8,550

• Solo401(k) Traditional - $93,500

• Solo401(k) Mega Backdoor Conversion - $46,500

Frontloading allows more time in tax-advantaged accounts. And if there is trouble with deposits or conversions, we have time to remedy the situation.

See the details here: Frontload Accounts to increase Returns.

529 Continued

We plan to Create Generational Millionaires with 529 contributions (and Roth IRA contributions). Every child will receive $10,000 into a 529 plan during the first three years of life -- $30,000 total contribution into a broad market index fund.

Ideally, an 8% annual return will show a $100,000 balance for high school graduation.

Cryptocurrency

Crypto is my latest investment adventure. I use Coinbase and Fidelity Crypto.

Taxable Brokerage / Bridge Account

Our taxable brokerage account receives everything else. Any investable dollars after April will end up in a Vanguard MMA and find their way into an investment shortly thereafter.

This is where we hold funds:

Net Worth Composition 2025

Our savings rate puts us abnormally heavy in the taxable brokerage category. I’m okay with this as early retirement is the plan. Not exactly ideal to start a 72(t) SEPP this far out.

The contribution limits of the Solo401(k) will help to grow the tax-advantaged accounts.

Investing Strategy

I’m 100% self-managed. I remain a low-cost, passively managed index fund investor of the “buy-and-hold” variety. I lean on VTI and VUG. I’m currently dollar-cost averaging $5,000 into an index fund every Monday. For FI, not to be messed with.

I continue to channel my inner Jim Simons (RIP) and buy individual stocks. Not because it’s mathematically advantageous, but rather because it’s my way of gambling. I keep to the major players. Companies I wouldn’t mind holding for years. Mostly buy and hold, but I will take profit on occasions.

This year I included a $1,000 weekly DCA into cryptocurrency. I’d like to see 5% of my net worth in crypto over the next couple years. Mostly Bitcoin and Ethereum. Mostly buy and hold, but due to the volatility of crypto, I will take profit along the way.

Asset Allocation

All tax-advantaged accounts are invested in a low-cost, passively managed total U.S. stock market fund or growth fund. I have a bit of cash within one of the Solo401(k)s I’m dollar-cost averaging into the market.

These are the true buy-and-hold accounts. Just hoarding index funds.

Here is my biggest realization as I gathered the data for this post…I buy WAY too many individual stocks. I just didn’t realize how the $10,000 investments add up over time.

So…the brokerage account is where I give the “do as I say, not as I do” disclaimer. This is my personal brokerage composition:

• VTI/VUG – 47%

• Individual Stocks – 44%

• MMA to DCA – 7%

Let’s be clear that single stock investments are with dollars above and beyond my monthly investment goal needed to achieve FI at age 35. Here are my 5 largest holdings in order of weight:

• NVDA

• AMZN

• GOOG/GOOGL

• MSFT

• CRM

I have 20 other holdings at a minimally significant value relative to my portfolio.

I avoid trading whenever possible because taxation at my marginal rate gives a disproportional risk to the downside. I buy companies that will hopefully outperform the index. Up and to the right over time.

I look for companies with strong underlying fundamentals. I add to my position when I feel a good buying opportunity is present. Never disrupting my index fund DCA dollars.

Taking profits as long-term gains is doable. Taxation on short-term gains is rough and only done a few times per year.

Why We Do What We Do…

Achieve FI A.S.A.P. All of this frontloaded effort is my way of being increasingly present for the family. I want to be there for the kids when they are old enough to remember Dad. Time is more valuable than ever, so I’m attempting to maximally profit from my time in the workplace.

We have achieved Coast FI which removes a great deal of self-induced pressure.

In the coming years, I will likely tone down the work to avoid burnout. This will allow us to establish a COL and redefine in our FI number. Being this young, our number is a SWAG (Scientific Wild-A** Guess).

Depends if we float towards the minimalism or maximalism side of life. Depends if travel is luxurious or efficient. Depends how many unforeseen complications rear their ugly head.

I said this in the July 2024 TFC update and I’ll say it again here…

Just because I know it’s coming, we have had an eventful run including… hefty recurrent and ongoing medical bills, two childbirths (and those medical bills), a pet, and no financial advisor. Our undergraduate degrees were mostly self-funded. Our graduate degrees were 100% self-funded. Our wedding and honeymoon were 100% self-funded. We actually lost money on our house we owned from 2019 to 2021. And we self-manage everything.

We aren’t special, just willing to delay satisfaction. We made the most of our blessings. Luck is only beneficial if one can use it.

I tell this story to inspire. To validate that you, the reader, can do it. And we will be right there with you because our financial journey is just getting started. Crossing the seven-figure mark and marching ever more rapidly towards FI marks the transition to wealth management. The path commonly traveled isn’t always the way to go. The FI community will speak to that.

A great idea without action is worthless. Potential without action is worthless. Intentions without action are worthless.

There are plenty of folks with a greater net worth and there always will be. Compare carefully. Money isn’t a measure of success or human value. It’s just a tool.

Thanks for reading.