Ep 113: Life in a 50-50 World – What Financial Impact Will It Have on CRNAs?

After watching another historic Inauguration Day, we can’t help but notice that the country has mixed feelings about where we’re headed. You can say we’re living in a 50-50 world. So as we welcome in a new administration, what can CRNAs expect from the economy moving forward and what does it mean for your finances

Click the timestamps below to help you navigate through the many topics we discussed.

On This Episode:

Another Inauguration Day has passed, and while it was historic as always, it also felt different this time. There’s no question that the country remains split on where we’re headed. One party is optimistic for the future while the other is concerned about what’s to come.

There’s no question we live in a different time. The rise of social media and the changes in news coverage affect our perception of the world, and that’s even been documented in The Social Dilemma on Netflix.

So how can CRNAs best prepare for the year(s) ahead? Let’s address some of the concerns and discuss what steps you can take to protect your financial future.

One thing that we can all agree on is that there will likely be more stimulus money put out there, which adds to nearly $7 trillion that’s been pumped into the economy so far. The government’s goal with that money is to boost the economy through spending and that’s happening, but the other outcome we’ve seen is the gap between the bottom and top continues to grow. People who really need the money are spending it on essentials, while people at the top are investing it and seeing returns through stocks and real estate growth.

Speaking of the stock market, a common question that people are asking right now is what is happening on Wall Street? When we watch the news and read the headlines, it’s impossible to avoid negativity and uncertainty. But when you check the markets, prices just going higher and higher.

The first thing to understand is that the market is forward-looking so it doesn’t always react to the news day-to-day. The second thing, and maybe most important, is realizing that the stimulus money has helped boost the stock market along with the economy. All the extra money has continued to push the value of companies higher, but Jeremy sees it as a sugar high. Hopefully things can catch up and level off but it wouldn’t be a surprise to see things pull back some after that extra money stops.

Another big concern for people is what the stimulus means for the country’s debt. What will happen with taxes as a result? We’re seeing some increases in certain states but we don’t really know what it means from a national level. Most experts expect tax rates to move up at some point and there’s some thought it could happen with this administration. It might not happen during this pandemic but it should likely be on your planning list for 2022.

But don’t necessarily look at the party in charge to determine what you should expect economically. History has shown us that policy rather than party has the greatest impact.

So how should you be investing this year with all of these factors in mind? We can’t give you specific financial advice, but Jeremy does work with CRNA clients everyday to come up with strategies that benefit each individual. It comes down to many factors, including time horizon and your risk tolerance, but diversification does matter. The market is cyclical so you want to have different pieces in your basket as sectors move up and down.

One thing everyone has to realize is that these event-driven economic issus are always going to be a part of life. If you look back through the years, the list of events is long and consistent. So how are you preparing for the next slowdown? The key is to have a plan in place and that you’re paying attention. Lean on a Certified Financial Planner to help you build this plan and keep you on track during these volatile times.

If you want to learn more about your financial plan, connect with Jeremy at CRNA Financial Planning.

Check it out at the top of the page and use the timestamps to help you navigate through the many topics we discussed.

2:27 – Why we’re talking about this today

3:10 – The Social Dilemma

5:20 – New stimulus money

7:45 – Have we always had this large divide?

9:00 – The stock market

12:11 – Event-driven economic problems

14:47 – Tax concerns

18:16 – Investing in the market this year

22:15 – The key is having a plan

“We’re on a sugar high right now. We’re artificially stimulating the economy right now through what we’re doing.”

-Jeremy Stanley, EA, CFP®, AIF®





CRNA Careers

Balancing a Career in Music with Being a CRNA

In this episode, Sharon and guest host Tracy Castleman, DNP, CRNA, APN-A, FAANA sit down David Giardinelli-O’Connor, PhD, DNAP, CRNA, who has successfully balanced a demanding career in anesthesia with his lifelong passion for music.




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J. Cross CRNA
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This podcast is very well put together. I love the hosts Sharon & Jeremy, they do a fantastic job at presenting topics as well as getting great speakers on the show! This is my morning commute podcast everyday! Thank you for all that you do!
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I enjoy listening every morning. Great content and always a pleasure to learn something new.
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I started listening to this podcast religiously early on in my CRNA journey, a year before applying to CRNA school. The content in this podcast was one of my most helpful resources for getting into my first choice school, Wake Forest! It has also been a huge motivator for getting involved with the AANA now and throughout my career. I highly recommend this podcast to every prospective CRNA I meet.
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I appreciate hearing the latest and greatest in the world of Nurse Anesthesiology while also getting Class B credits. Just listen on your commute for a win/win experience. I love the perspectives from Jeremy and Sharon who both ask varied and insightful questions!
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If you’re a CRNA or any medical professional, I highly recommend giving this podcast a listen. Hosts have a great rapport.