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We want to provide you with the most accurate data available. In order to do this, we've created a space that will connect you to The Markets - a weekly blog update that puts you at the forefront of the financial industry. These posts are a sample of the content we use to help you make wise financial decisions; consider it 'insider knowledge.'
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-The CRNA FP® Team
Goodbye 2020 – How to Financially Prepare for 2021 and Beyond
When we celebrated New Year’s Eve a year ago, who could have guessed that 2020 would have gone the way it has? It’s worth taking a look back at the year to review the financial challenges that CRNAs have faced, and...
Read MoreThe CRNA's Quick Reference Guide to Working as an Independent Contractor
Becoming a CRNA independent contractor can be complicated, but very lucrative. Every day, our experts help freelance CRNAs from all across the country make sure they are taking advantage of all the opportunities that 1099 can bring.
Read MoreHow COVID-19 Has Affected the Economy and CRNA Retirements
For many years, the CRNA profession has been a relatively stable and financially secure career path, but the COVID-19 pandemic has wreaked havoc in countless ways all across the globe this year. As a result, many CRNAs have experienced...
Read MoreHow CRNAs Get Lost in the Financial World
If you’re like a lot of CRNAs, dealing with money isn’t always your top priority. That’s especially true during a year like we’ve experienced in 2020. It’s easy to put financial planning aside and worry...
Read MoreAre You a CRNA within 10 Years of Retirement?
5 Things You Need to Do NOW to Protect Your Financial Plan from COVID-19 According to a recent report by the AANA, over 50% of practicing CRNAs planned to retire by 2022, but the financial impacts of COVID-19 may be threatening those...
Read MoreShow All
Best Intentions but Bad Financial Advice
The coronavirus pandemic has forced a lot of people to take a closer look at their finances, and we often reach out to a lot of different sources to get advice on ways to proceed. Even if you’re working with a financial advisor,...
Read MoreLet us help you get back on track… A new opportunity for CEUs
So far, 2020 has proven to be a year of change. Over the past few weeks, we’ve spoken with thousands of CRNAs across the country who have been impacted by COVID-19 in a variety of ways. While employment statuses may have changed...
Read MoreGUEST POST - Medicare and Your Retirement... Or Medicare and Non-Retirement!
Right out the gate, you can see how confusing Medicare can be! Many people feel that you must sign up for Medicare when you turn 65 (even though you are still working or your spouse is, etc.). One of the many myths that we work to...
Read MoreApples to Apples: The Financial Implications of Working 1099 vs. W-2 as a CRNA
As a CRNA, you make critical decisions all the time, oftentimes without even thinking about it. Your years in school prepared you to make sound medical decisions at a moment’s notice. But beyond the operating room, some important...
Read MoreVIDEO - The Saavy CRNA Episode #1: 1099 vs. W2
Watch our inaugural episode of "The Saavy CRNA" as host, William McNeer, CFP®, AIF® discusses the fundamentals of payroll tax, compensation, and tax liability for freelance CRNAs.
Read MoreHow Should CRNAs Facing Divorce Split Retirement Accounts?
While I am sure it will come as no surprise, the CRNA profession is one of the most stressful career paths you can choose. According to the Occupational Information Network, a US Department of Labor job database, on a scale from 1...
Read MorePreparing to Retire Single
Unmarrieds need to approach retirement planning pragmatically. In an ideal world, it would be simple to prepare for a solo retirement. You would just save half as much as a couple saves, buy half as much insurance coverage, and expect...
Read MoreHow Tax Reform Will Affect CRNAs Facing Divorce
We already know that divorce can be messy and painful, but did you know that it’s about to get a lot more expensive as well? The passing of President Trump’s tax reform bill affects almost everyone in some way. On the...
Read MoreFour Tips for CRNAs Considering Divorce
Ever hear the old wives tale that 50% of marriages end in divorce? While it’s hard to pinpoint an exact divorce rate, some researchers report current rates could be as high as 50% while others believe the rate has been steadily...
Read MoreThe Details More People Should Know About Medicare
Before you enroll, take note of what the insurance does not cover and the changes ahead. Misconceptions about Medicare coverage abound. Our national health insurance program provides seniors with some great benefits. Even so,...
Read MoreDoes It Make Sense To Become A CRNA in 2018?
When it comes time to choose a career path or shift occupations, one of the top considerations is financial. Will this career provide the income I desire? Is it worth the investment of time and money to get the education I need? The...
Read MoreHow Do You Stay A CRNA Millionaire?
As a CRNA, you’ve worked hard in your education and career to get where you are. Regardless of whether you are currently employed or have already retired, it’s important to preserve the assets for which you have so...
Read MoreAmericans Are Saving an Average of 7.6% for Retirement. How Do CRNAs Compare?
If you Google how much you should be saving for retirement, you’ll likely find a wide range of numbers, anywhere from 5% to 20% of your gross income. But how much do Americans actually save? According to a recent PenFed Credit...
Read MoreHow CRNAs Can Turn Their IRA Into a Family Fortune
We’ve previously discussed the benefits of an IRA, but many CRNAs are unaware of the potential power of an inherited IRA, be it one you inherit from your parents or one you pass on to your children. Here, we’re discussing a...
Read MoreHow Can CRNAs Get Their Questions Answered About Medicare From Someone They Can Trust?
We all know that healthcare planning is a huge part of retirement planning. But, WHEN do we really start that conversation? And how do we approach such an enormous topic? Baby steps. When you (or your spouse) are approximately 64...
Read More4 Best Practices for Using Housing Wealth in Retirement
Home equity represents nearly two-thirds of the average 65-year-old couple’s total wealth, making it one of the most important retirement assets, along with Social Security. (1) Despite its importance, housing wealth is an often...
Read More6 Common Missteps on the Road to Retirement (Video)
Let's take a look at 6 common missteps many professionals make along the road to retirement. Have you considered the year you retire versus the longevity of your social security benefits? Or adding potential medical costs during your...
Read MoreThe Difference Between a Financial Advisor and an Insurance Agent
In the last few years, lines have blurred between financial advisors and insurance agents. Many professionals consider themselves both, when they’re not. The problem is that the word “advisor” has become a broad term...
Read MoreCRNA Financial Planning is a AANA Member Advantage Partner!
Did you know that CRNA Financial Planning is one of the only financial planning firms exclusively serving CRNAs? It’s true. For the past two decades, we’ve made it our mission to help CRNAs with what we call the three...
Read More50% of CRNAs Are Going to Retire Over The Next 10 Years! The Hierarchy of Retirement Needs
Even though money is fungible, we often categorize our money into different buckets, be it by types of spending or time frame. We also tend to mentally prioritize our income and assets, focusing first on covering our current income...
Read More5 Smart Tax Strategies for CRNA Business Owners
As a CRNA and business owner, it’s easy to get caught up in the busyness of the day and neglect some of the housekeeping elements of running a business. Rather than wait until the end of the year to prepare for the upcoming tax...
Read MoreHow do CRNA’s qualify for the new business income deduction?
Our friends at CRNA Tax Associates®’ felt that this would be timely information for the CRNA community. To learn more, visit their site here: https://crnataxassociates.com/ The new 2018 Section 199A tax deduction that you can...
Read MoreHow a CRNA S Corporation Can Reduce Your FICA Self-Employment Taxes
As a freelancer, you’re both a CRNA and a business owner, which means you have a lot more responsibilities. A few wrong mistakes could mean losing money or facing tax penalties. You don’t want to wind up paying more than...
Read MoreFor Retirement, Income Matters as Much as Savings
A recent poll of pre-retirees suggests that truth risks being ignored. Steady income or a lump sum? Last year, financial services firm TIAA asked working Americans: if you could choose between a lump sum of $500,000 or a monthly...
Read MoreCould a 10% Savings Rate Be Enough for a Comfortable Retirement?
If you read five articles on retirement planning, chances are you’ll read five different recommendations. Financial planning and saving for retirement can be very subjective, making it difficult to know exactly how much you need...
Read MoreStocks and Company Spending Up on News of Tax Bill, But What Does It Mean for You?
On Wednesday, December 20, 2017, the House passed a tax bill, which was signed into law by President Trump. Since his campaign trail, President Trump has promised tax reform and this bill entails a number of changes to the U.S. tax...
Read MoreThe Value a Financial Advisor Brings to the Table
If you were going into a surgery for a procedure, you wouldn’t trust just anyone. You would likely search for a well-regarded doctor, and possibly get a second or third opinion to see who you were most compatible with and who you...
Read MoreThe Secret to an Early Retirement Isn’t What You Think It Is
When I meet with Certified Registered Nurse Anesthetists (CRNAs), many assume that earning a high income is the key to retiring early. While it’s true that the high income CRNAs enjoy is helpful, the real secret comes down to two...
Read MoreShould We Reconsider What “Retirement” Means?
The notion that we separate from work in our sixties may have to go. An executive transitions into a consulting role at age 62 and stops working altogether at 65; then, he becomes a buyer for a church network at 69. A corporate IT...
Read MoreThe Financial Implications of the Reverse Breadwinner Effect
Just a few decades ago, it was standard for men to be the sole income provider for their family while women ran the household and took care of the children. However, the number of women joining and returning to the workforce after...
Read MoreIs Your Advisor Following the Four E’s?
With over 200,000 financial advisors across the country, how do you find one who understands and appreciates what you do as a CRNA? The financial advisor with whom you choose to work will have a significant impact on your investment...
Read MoreUnderstanding Inherited IRAs
What beneficiaries need to know and consider. At first glance, the rules surrounding inherited IRAs are complex. Here are some questions (and potential answers) to consider if you have inherited one or may in the future. Who was the...
Read MoreThree Strategies for CRNAs to Retire Early
After spending decades working in a demanding career, many CRNAs dream of retiring early. And for some who have saved enough to do so, it’s important to have a retirement strategy in place that focuses on minimizing taxes and...
Read MoreHow Long a Million Dollar Retirement Fund Lasts in Each State
Saving $1 million for retirement sounds like a lot, but how long will that amount really last? Thanks to inflation, increased housing costs, and costly medical needs, $1 million may not last as long as you think. Along with considering...
Read MoreIs It Time to Delegate Your Finances?
Some of the most successful businesses and professionals rely on delegation, and for good reason. As our lives become busier, delegation lets us focus more time on our passions, families, and careers while allowing others to help with...
Read MoreGetting (Mentally) Ready to Retire
Even those who have saved millions must prepare for a lifestyle adjustment. A successful retirement is not merely measured in financial terms. Even those who retire with small fortunes can face boredom or depression and the fear of...
Read MoreAre You Really Saving Enough for Retirement?
Why an early start (and accepting some risk) matters. Are you on track to save $1 million or more for retirement? If you are 50 or younger, you may need that much in savings to generate the kind of retirement income you prefer....
Read MoreHow to Save for Retirement as a Freelancer
According to a 2009 study, around 14% of CRNAs worked as freelancers or independent contractors. However, there’s no doubt that number has increased in the last few years as freelancing across numerous industries is on the rise....
Read More5 Factors That Can Derail a CRNA’s Retirement
As a CRNA, you’ve worked hard in your career to, hopefully, experience a comfortable retirement. Regardless of your definition of wealth, you want to protect your hard-earned money and enjoy the fruits of your labor. But even if...
Read MoreHow Can You Make Your Retirement Money Last?
These spending and investing precepts may encourage its longevity. All retirees want their money to last a lifetime. There is no guarantee it will, but, in pursuit of that goal, households may want to adopt a couple of spending and...
Read MoreDoes a Fiduciary Advisor Deliver More in Value Than They Cost?
Even for high-income earners like CRNAs, many people don’t work with a financial advisor because they assume it will cost a lot of money for advice they can find on the Internet. Why pay for something you may be able to do on...
Read MoreBeware of Emotions Affecting Your Money Decisions
Today’s impulsive moves could breed tomorrow’s regrets. When emotions and money intersect, the effects can be financially injurious. Emotions can cause us to overreact – or not act at all when we should. Think of the...
Read MoreThe Rough Consequences of Not Saving for Retirement
Do you really want to risk facing these potential outcomes? Saving for retirement may seem a thankless task. But you may be thanking yourself later. Putting away a percentage of one’s income, money that could be used for any...
Read MoreWhy This Works Better Than the 4% Rule for Retirees
Determining how much money you’ll need to save now and then withdraw each year in retirement can be one of the most overwhelming elements of retirement planning. There are countless theories and strategies to most appropriately...
Read MoreHow Will You Spend Your Retirement Savings?
Keep an eye on where it goes, as some destinations may be better than others. You can probably envision how most of your retirement money will be spent. Much of it will be used on living expenses, health care expenses, and, perhaps,...
Read MoreCould You Benefit From the 50/30/20 Budget?
What’s your definition of following a budget? For some, it’s simply paying the bills, while for others it’s not surpassing a certain dollar amount each month in spending. In fact, only one in three people prepare a...
Read MoreHow to Retire at 65: 4 Retirement Decisions You'll Need to Make
As a CRNA, you’ve worked hard throughout your schooling and career. When time flies, you may not even realize that retirement is right around the corner. While some CRNAs may choose to work longer or freelance in their 60s,...
Read MoreWhy New CRNAs Struggle With Mortgage Financing
Without a doubt, new CRNAs entering practice struggle with mortgage financing. CRNAs get declined for a mortgage at a much higher rate than other clients. Most underwriting guidelines – even medical professional loan programs...
Read MoreThe Chapters of Retirement
The five phases of life after 50 & the considerations that accompany them. The journey to and through retirement occurs gradually, like successive chapters in a book. Each chapter has its own things to consider. Chapter 1 (the fifties)...
Read MoreLittle Things That May Help Your Retirement Saving
Over time, these seemingly small factors could make a major difference. Saving for retirement takes decades and demands the investment of significant amounts of your income. As this major effort unfolds, you should recognize that some...
Read MoreTax Deductions Self-Employed CRNAs Should Know
Tax season has officially started, which often provokes groans and phone calls to your tax professional. As a CRNA, you hopefully have a tax minimization strategy in place to help you legally reduce your overall tax liability. However,...
Read MoreHow Much Will You Spend When You Retire?
Will you have enough money to make ends meet? You may have heard that people spend less once they are retired. Statistically, that is true. The question is whether a retiree has enough income to meet his or her expenses. Ideally,...
Read MoreNew Report: CRNA Salaries Vary Widely Across United States (Graphic)
Did you know that CRNAs make on average twice as much in Montana as they do in Arizona? The US Census Bureau recently released their data for CRNA wages throughout the country. As it turns out, wages vary quite a bit from state to...
Read MoreFive Things To Do if You’re a CRNA Within Ten Years of Retirement
As we get older, life seems to pass by faster than ever, especially for CRNAs with busy work schedules. You may be amazed to realize that retirement is just a decade away. If you’re approaching the ten year countdown, consider...
Read MoreSaving $1 Million for Retirement
How can you plan to do it? What kind of financial commitment will it take? How many of us will retire with $1 million or more in savings? More of us ought to – in fact, more of us may need to, given inflation and the rising cost...
Read MoreThe CRNA Investor’s Guide: Avoiding the Three Biggest Mistakes
CRNAs tend to receive some of the best education and training in the world. However, many may be at a disadvantage when it comes to personal financial management because their schooling doesn’t equip them with the tools required...
Read MoreA Solid Financial Plan Is the Gift That Keeps On Giving
Sometimes the best holiday gifts can’t be wrapped or purchased in stores. Some, like a personalized financial plan, keep giving back to you and your family for many years to come. A financial plan is designed to help you stay on...
Read MoreThe Tax Man Is Coming: Do You Have a Tax Minimization Strategy in Place?
Benjamin Franklin famously noted, “In this world nothing can be said to be certain, except death and taxes.” Taxes are an inevitability of life, but with complicated and confusing laws and codes, many CRNAs don’t have...
Read MoreSocial Security: Myths vs. Facts
Some myths & misperceptions keep circulating about Social Security. These are worth dispelling, as more and more baby boomers are becoming eligible for their retirement benefits...
Read MoreAre We Right for You?
If you haven’t visited our site before or are reading our blog for the first time, you might be wondering if our services are right for you. We want to provide you some more information on who we are, what we offer, and who we...
Read MoreWhat You Can & Cannot Control as You Plan for Retirement
What You Can & Cannot Control as You Plan for Retirement Some things you have no influence over. You may have some power to affect other factors. Are you worried about retiring? Many baby boomers are, and they have reason to be, given...
Read MoreRetirees Should Have Spending Plans
Without such strategies, they can risk going through their savings too fast. Every day, articles appear urging people to save for retirement. These articles are so prevalent that it may seem like retirement planning is entirely about...
Read MoreExclusive Excerpt from Our New Book (Plus Free CE Credit!)
As mentioned in our last blog post, I am so happy to have released my second book, A CRNA’s Life After Anesthesia. I hope it helps demystify many of the questions and hurdles you, as a CRNA, may face as you approach retirement....
Read MoreWill Baby Boomers Ever Truly Retire?
Many may keep working out of interest rather than need. Baby boomers realize that their retirements may not unfold like those of their parents. New survey data from The Pew Charitable Trusts highlights how perceptions of retirement...
Read MoreOur New Book for CRNAs Is Here!
Along with the financial planning aspects of my job, I’ve always been passionate about education. Just as an in-depth education is critical for CRNAs in their practice of anesthesia, education is equally important as they plan...
Read MoreRetirees Are Racking Up Credit Card Debt
New statistics point out an alarming financial problem. $6,876. That is the average amount of credit card debt owed by an American household headed up by an individual aged 65-69.1 If you are newly retired or close to retiring, that...
Read MoreCouples Retiring on the Same Page
Agreeing about what you want from retirement is crucial. What does a good retirement look like to you? Does it resemble the retirement that your spouse or partner has in mind? It is at least roughly similar? The Social Security...
Read MoreAre You Retiring Within the Next 5 Years?
What should you focus on as the transition approaches? You can prepare for your retirement transition years before it occurs. In doing so, you can do your best to avoid the kind of financial surprises that tend to upset an unsuspecting...
Read MoreWhat Will the Election Do to the Market?
Will volatility seize Wall Street? Or will calm prevail? Wall Street has had a rather calm summer. How about fall? Will volatility increase before and after Election Day? So far, the market is performing roughly in line with historical...
Read MoreFive Mistakes That Can Reduce a CRNA’s Social Security Check
Many affluent investors, such as CRNAs, have not thoroughly contemplated how their Social Security benefits will affect their overall financial plan. In fact, countless high-income earners don’t think they will benefit from it....
Read MoreDo Our Biases Inhibit Our Retirement Savings Efforts?
They may affect our attempts to build wealth. Picture an 18-wheeler, its 4,000-cubic-foot cargo trailer filled to capacity with stacks of $100 bills. The driver shuts and locks the trailer, closing the door on roughly $10 billion. Now...
Read MoreHow CRNAs Can Pursue Financial Freedom in Retirement
You probably see headlines about retirement planning on every website and newspaper you read. Many of them all share one common tip: start as early as possible. Your accumulation years are the most important, as they set the tone and...
Read MoreThink About Your Lifestyle Before You Retire
Sometimes planning for retirement isn’t entirely about money. How many words have been written about retirement? It’s a preoccupation for many, and we devote so much time, thought, and energy toward saving for the last day...
Read MoreGood Retirement Savings Habits Before Age 40
You know you should start saving for retirement before you turn 40. What can you start doing today to make that effort more productive, to improve your chances of ending up with more retirement money, rather than less?
Read MoreThree Important Questions CRNAs Should Ask Before Retirement
Retirement is a scary yet exciting leap for CRNAs. While there are countless pieces to the retirement planning puzzle, right now I want to focus on three of the biggest questions you’ll need to answer before retiring. All three...
Read MoreDo Women Face Greater Retirement Challenges Than Men?
A “not-to-do” list for the new year & years to follow. A new study has raised eyebrows about the retirement prospects of women. It comes from the National Institute on Retirement Security, a non-profit, non-partisan...
Read MoreWhat Expenses Could Change When You Retire?
Some costs could rise, fall or even disappear. Your retirement may seem near at hand or far away, but one thing is certain: your future will differ from your present. Financially, that fact is worth remembering. Some of the costs you...
Read MoreHow Can You Make Your Retirement Money Last?
All retirees want their money to last a lifetime. There is no guarantee it will, but, in pursuit of that goal, households may want to adopt a couple of spending and investing precepts. One precept: observing the 4% rule. This classic...
Read More4 Money Blunders That Could Leave You Poorer
A “not-to-do” list for the new year & years to follow. How are your money habits? Are you getting ahead financially, or does it feel like you are running in place? It may come down to behavior. Some financial behaviors...
Read MoreHow to Prepare for the Rise of Anesthesiologist Assistants
According to the Bureau of Labor Statistics, the average annual salary for a CRNA is $160,250.1 Brian Del Grosso, a nurse anesthetist at Carolinas Medical Center in Charlotte, North Carolina, shared with Business Insider a few of the...
Read MoreStrategies for CRNA Business Owners or Freelancers to Help Maximize their Retirement Savings
CRNA business owners and freelancers tend to have very high incomes, but are busy and often unprepared when it comes to financial planning. Whether you plan to continue running your business well beyond traditional retirement age, or...
Read MoreHow to Position Your CRNA Practice for a Buyout
Since 2013, anesthesia practices are selling to corporate buyers or merging with other groups at unprecedented rates. In 2014 alone, there were 27 acquisitions completed by 14 separate buyers, including multi-billion dollar publicly...
Read MoreHow CRNAs Can Create Strategies for Income in Retirement
Whether retirement is far away, rapidly approaching, or already upon you, it is important to understand how an income stream from different sources may be created to cover your expenses. As you plan for your retirement, you’ll want to...
Read MoreOur Favorite CRNA Jokes
Happy April Fool's Day from all of us at CRNA Financial Planning! We love a good CRNA joke all year long, but particularly today. Please enjoy some of our favorites below!
Read MoreLast Chance to File & Suspend Social Security Benefits
As you read on our blog last October, the last-minute budget and debt ceiling deal that the House and Senate passed will make changes to Social Security benefits. In an effort to decrease spending, some popular claiming strategies are...
Read MoreWhat Do the Latest Industry Changes Mean for CRNAs’ Job Security?
Over the past few months, CRNAs across the country have been watching the industry change before their eyes. From the Michigan 68 to Mission Health System in North Carolina, job security has now become a significant concern. At CRNA...
Read MoreDoes it Make Financial Sense to Become a CRNA in 2016?
From college undergraduates to medical professionals considering a career change, a common question I’ve heard is, “is it a financially worthwhile to become a CRNA today?” When we initially think of doctors, nurse...
Read MoreWhat Should You Do After Last Week's Stock Market Decline?
Last week was an awful trading week on Wall Street, with the S&P 500 posting its worst year-opening week in history by losing 6%. Global stock markets lost $2.3 trillion, alarming investors who worry about the market forecast for the...
Read MoreShould You Become a CRNA Freelancer?
What are the differences between a CRNA who works as a W-2 employee and one who is a 1099 contractor or freelancer? You probably are familiar with both types of CRNAs; those who go to work at the same place every day as employees, and...
Read MoreMost CRNAs are Plagued by Debt in 2016
This year marked a tipping point of wealth in the United States. According to a 2015 survey, this is the first point in history that there are more affluent Gen Xers (born in the 1960s to 1980) than affluent Baby Boomers. The survey...
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