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This week I discuss 7 ways for CRNAs to unlock their full earning potential as a high-income provider. Discover actionable strategies to boost your income, from mastering negotiation tactics and upgrading your job, to maximizing overtime, specialization, and exploring lucrative locum opportunities. Leverage retirement benefits and invest both inside and outside your clinical practice.
Whether you’re seeking financial independence or simply want to make smarter money moves, this post breaks down practical steps to grow your wealth without sweating the small stuff.
This week I write about CRNA burnout. It’s a serious issue causing hardships for providers and potentially dangerous outcomes for patients. This entry speaks to understanding and recognizing the many manifestations of burnout. Learns ways to proactively and reactively manage burnout. Treat the symptoms and the root cause. From a financial lens, our job acts as our primary driver of income for the first few decades. Manage burnout to prolong your career, thus safeguarding that wonderful income. Your future self will thank you.
The time value of money relates to a dollar today vs a dollar tomorrow. How to handle opportunity cost, investing, and inflation to maximize the time value of your earnings. Don’t allow you buying power to needlessly erode.
To join finances or keep them separate? As a societal taboo, money is difficult to discuss. It’s essential to have a partnership cohesive in the personal finance department. Here are some topics of discussion best had earlier than later.
How money enters and exits my LLC as a locum CRNA. This speaks to approximate taxation, payroll, retirement, expenses, and distributions. Enough to give you an expectation when you decide to make the transition to self-employment.
The locum lifestyle can set up a CRNA for retirement in 5 years. Yep, 5 years of locum work pays for a middle class lifestyle. Amazing for those looking to end the need for earned income.
Millionaires at age 30. Not too bad. Read to find out how we did it.
Here are 5 financial setbacks I have experienced. This is a good read and an opportunity for reflection. Maybe these apply to you without your knowing.
Self-managing your investments sounds daunting. Allow me to walk you through the process of buying index funds such as VTSAX and VTI. This simple process takes minutes and will have you questioning the need for your current financial advisor.
After the switch, I felt like the guy in the thumbnail. On top of the world and cold. The Midwest is pretty flat, but it’s close enough. Anyway, there are many reasons to make the jump from W-2 to 1099 employment if you find yourself in a similar situation.
A short read about the 2023 and 2024 Tax Brackets.
Deny as you will, but compensation is a major factor in every profession and every job. Here is how I integrated compensation into my job selection criteria.
Nothing says trying to legitimize a blog like creating your own jargon. The moneymoon phase is the time to get ahead. It doesn’t last forever, so make the most of it.
Writing a respectable resume as a CRNA or SRNA.
Everything you need to know about a 529 plan for education expenses. Another valuable tax deferred account to selflessly strengthen your financial family tree.
It’s important to build the right team to enhance personal and professional development. Each member comes at a cost. Look for value. The reason behind why I manage money the way I do.
A continuation of “The Job Search.” There are plenty of considerations in this post to be mindful of. And don’t miss part I for my top 4 priorities.
What if I told you most CRNAs could be financially independent and retire from anesthesia within 10 years of passing boards? It’s not as difficult as it sounds and I’ll show you why. Read to find out just how easy it is to retire in a decade with anesthesia income.
There are many places to send your hard earned dollars. I have identified 10 quality candidates that will strengthen your financial health.
High earning medical professionals meet the stereotype of being bad with money. As with most stereotypies, there is an element of truth at play. Find out where I see most CRNAs making a wrong turn, thus inhibiting their own financial success.
Understand what it means to be a W-2 employee or a 1099 independent contractor. Which do you take if offered a choice? They both have pros and cons. Decide what works best for your lifestyle.
It is all too common to see high-income earners living paycheck-to-paycheck. If you find yourself here, start the life-changing journey today. One small step at a time. It’s not easy to turn things around, but it is well worth the effort.
The world is not enough. Despite earning more than enough to live a comfortable life, we always end up wanting more. Give a read if you are looking for ideas.
Living paycheck to paycheck on a CRNA salary is easier than one might think. Avoid these bad decisions to ensure your escape from the rat race. We have a great profession, but it’s nice to have an exit plan.
Six-figures over 3 years. My contract increase via negotiation. Negotiation is not thievery, but rather the agreement reached through discussion. Both parties come out ahead and feel like winners using the techniques discussed by an FBI negotiator in his best selling book.
If you reach financial independence, do your best to keep it. Nothing worse than starting over. Read about factors to consider when maintaining your nest egg for the long run.
There are two phases of wealth building and this article speaks to the “accumulation phase.” How to grow a money tree that produces enough fruit to support your way of life.
It’s tough to compare job offers. Some have a high base wage — others, great benefits. Are you okay taking call? Do they expect 30 hours per week or 60? There are so many variables when comparing contracts. I found hourly earnings to be the equalizer when I was going through various offers. Check out the spreadsheet to run the numbers for yourself!
Discover what the TFC financial situation looks like after 3 years of giving anesthesia. We have made some major life changes including transitioning from DINK status, starting locum work, and investing like mad. This is an update from the July 2024 post where the TFC family first achieved millionaire status. See how much progress we have made in the 12 months following.
Learn the TFC work setup, investment accounts, and investment selections.