Ep 81: How CRNAs Get Lost in the Financial World

CRNAs already have plenty to worry about each day and it’s convenient to put finances to the side. As we’ve seen in 2020, the unexpected can happen at any time so we need to make sure you have a plan for your money. Today we’ll talk about the way CRNAs typically get off-track with their finances but we’ll also give you steps to getting everything in order.

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

On This Episode:

If you’re like a lot of CRNAs, dealing with money isn’t always a priority. That’s especially during a year like we’ve experienced in 2020. It’s easy to put financial planning aside and worry about what’s immediately in front of you at work and at home.

But times like these reaffirm the importance in building a financial plan and following the steps put in place. It can eliminate a lot of worry and concern that arises when the stock market has a huge drop or work begins to slow down. The one certainty is that more uncertainty will come in the future so make it a priority to get ahold of your finances now.

When Jeremy works with CRNAs, there’s often very similar reasons why they get lost in this world: bad tools, bad directions, and lack of focus.

Let’s take a look at each one:

Bad tools: What are you using to make financial decisions? That online retirement calculator or an income projection? Many of the tools out there can be helpful but they’re far from accurate, especially when you consider your specific needs.

Bad directions: Who are you relying on for advice? Where are you doing your research? A lot of people that provide information or guidance don’t always have your best intentions in mind. That can lead you in a direction that doesn’t move you closer to your goals.

Lack of Focus: Like we’ve touched on, CRNAs face a lot of challenges and distractions every, single day. It’s easy to lose focus on your finances and miss opportunities as they arise.

The good news is that it’s never too late to regain your bearings and get back on track. The first step is identifying where you want to go and then you can build a financial plan that gets you there. And don’t forget to ask for help. We all rely on others to make our life better and that’s exactly what a financial advisor can provide.

When you first begin working as a CRNA, things might seem pretty manageable. You don’t make as much money, you might not have anyone else that depends on you, and your assets are limited. But as you get older, it becomes much difficult to manage a financial plan and you end up second-guessing yourself at the first sign of trouble.

Don’t let that be your situation. CRNAs are blessed to work in such a rewarding profession, both emotionally and monetarily. Make sure all of your hard work provides you with peace of find and financial freedom later in life.

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

3:38 – If every job paid the same, which one would Sharon choose?

5:26 – What would Jeremy choose?

8:11 – Quote of the Month: “There’s a gigantic difference between earning a great deal of money and being rich.”

9:34 – An interview with Tom Brady stuck with Jeremy.

11:21 – Mailbag question: The coronavirus scare has me convinced that the market will keep crashing again and again. I’m ready to move everything to cash right now. Is there any reason to wait?

14:27 – Getting lost in the financial world happens to a lot of CRNA clients.  

15:15 – Examples of bad tools people use that lead them astray in retirement planning.

17:36 – The next issue is bad directions.  

19:41 – Another reason people make mistakes is a lack of attention.  

21:41 – What you need to do to get back on track.

24:40 – Don’t be afraid to ask for help.

27:30 – Develop a plan for where you want to go and how you want to get there.

29:02 – This COVID pandemic might be a bit of a financial wake-up call for CRNAs.


In 20 plus years of doing this, what I’ve found is the people that have it all are not the people that have it all financially but they are happy in their situation.”

-Jeremy Stanley, CFP®, AIF®

SHARE THIS EPISODE

Facebook
Twitter
LinkedIn

SUBSCRIBE

EXPLORE MORE

CRNA Careers

Like Mother, Like Daughter: Discover the Unique Bond of a Mother-Daughter CRNA Team

In this heartfelt episode of Beyond The Mask, a story of unique dynamics when working alongside family in the world of anesthesia comes to life. Jeremy and Sharon sit down with a remarkable mother-daughter duo, Melody Secrest and Emily King, both CRNAs, who share their experiences working in the same hospital department. We uncover the challenges and triumphs that come with balancing professional boundaries and personal relationships in the operating room.

LISTEN NOW »
Clinical

Ventilating the Future: CRNAs at the Forefront of Lung Protective Strategies

In this episode, hosts Terry and Garry take listeners on a journey through the evolution of anesthesia, reflecting on the remarkable changes witnessed since their early days in the field. From manual adjustments of OR beds to sophisticated ventilator technologies, they explore the transformative advancements that have revolutionized patient care.

LISTEN NOW »
CRNA Personal Finance

Will the Fed Stick the Landing? Or Will They Stick Us?

With Sharon away for work this week, we invited Andrew Opdyke, CFA from First Trust to join us to address a concern that many people have this year: the future of the market. What’s the Fed going to do? Where’s this economy going? How’s this election going to affect my portfolio and my financial future? We tackle all these pressing financial questions and get Andrew’s thoughts on the year ahead.

LISTEN NOW »

SUBSCRIBE

NEW EPISODES EVERY WEEK!

Apple PodcastsGoogle PodcastsSpotifyStitcherTuneIniHeartRadio

HAVE A QUESTION OR WANT TO BE GUEST?

RECENT REVIEWS

J. Cross CRNA
Read More
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!
Bill.Nye
Read More
I enjoy listening every morning. Great content and always a pleasure to learn something new.
biggestbaseballfanever
Read More
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.
Trvlgrl1
Read More
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!
doubledownmoney
Read More
If you’re a CRNA or any medical professional, I highly recommend giving this podcast a listen. Hosts have a great rapport.
Previous
Next

READ MORE REVIEWS OR LEAVE YOUR OWN!