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Top Retirement Planning Mistakes CRNAs Need to Avoid

Top Retirement Planning Mistakes CRNAs Need to Avoid

April 13, 2023

Are you a CRNA who feels lost in the complicated and ever-changing world of retirement planning? If so, you’re not alone! With so many different account types and investment options, it’s easy to make mistakes when it comes to your finances. In this episode, Jeremy Stanley, EA, CFP®, AIF® will cover some of the common errors CRNAs make with their finances and help you better understand how to utilize different account types to save for your life after anesthesia.

  • The first mistake we frequently see is CRNAs who leave retirement accounts (401k/403b/etc.) with former employers. CRNAs will transition into multiple positions over the course of their careers, and many neglect (or even forget about) old accounts once they leave a job. But it’s important to know what investments/accounts you have and be aware of your options for consolidating and giving yourself more flexibility.

  • The next issue we often run across is CRNAs who don’t rebalance investment options as often as they should. Without having a financial professional to evaluate your portfolio consistently, most people don’t rebalance their investments to stay aligned with their goals and risk tolerance. As the market fluctuates and your objectives evolve, your investments need to shift as well to help you stay on track for retirement.

  • Speaking of investments, CRNAs (and many other investors) will frequently pick out a target date fund and rely on it to provide their needed growth. While target date funds can be a good starting point and provide a low-maintenance option, they aren’t necessarily the ideal choice for everyone. Just because you have a certain age range in mind for retirement, your path to get there won’t be the same as everyone else, so a one-size-fits-all approach has limitations.

  • The final mistake we want to highlight is CRNAs who don’t understand the fees and costs associated with your retirement plan and investments. You might assume that charges would be clearly labeled and easy to locate on statements, but more often than not, that isn’t the case. Fees and charges add up, and over time, they end up cutting into your potential returns.

Whether you’re an employee or an independent contractor, every CRNA needs to give their retirement plan the attention it deserves to make sure everything is in place for you to get where you want to go after a hard-working career.

To listen to this week’s podcast and learn more, click here.

With decades of experience working exclusively with CRNAs, CRNA Financial Planning® has the knowledge to help you save more of your hard-earned money and plan for life after anesthesia. Schedule an introductory phone call to discuss your current situation and needs. You can also call our office at 855.304.3748 or email us at


The opinions voiced in this material are for general information only and are not intended to provide specific financial or tax advice or recommendations for any individual. Investment Advice offered through Private Advisor Group LLC, a Registered Investment Advisor