How much do you actually need to leave the OR for good? It isn't a guess or a feeling. It's a number. Find yours...

Northwestern Mutual's 2025 study found that Americans believe they need $1.26 million to retire comfortably, and most fall far short. CRNAs are in a better position than most to beat those averages, thanks to high income and a strong ability to save. That only works if you know your number.

In this episode, Leland breaks down the math behind financial independence:

• What financial independence (FI) really means: a ratio, not an age
• Where the 4% rule came from: William Bengen's 1994 research and the Trinity study
• The simple formula: your annual cost of living × 25
• Why cost of living moves your FI number more than anything else. A $100 monthly subscription adds $30,000 to your target.
• How the TFC fam set their first FI number with a compound interest calculator
• Sequence of returns risk: why the Ramsey "live off 10% a year" is dangerous advice
• How Coast FIRE, part-time work, lower withdrawal rates and asset allocation protect you when retirement starts in a downturn

Know your number, then build the plan to get there.

📌 Mentioned in this episode:

• Episode 4: The CRNA Moneymoon

🌐 Read the blog, send your questions and request topics at thefinancialcocktail.com

Episode correction: The Trinity Study was actually published in 1998 by three Trinity University professors, Cooley, Hubbard and Walz, which is where the name comes from. Pfau wrote later research on withdrawal rates.

This podcast is for education only. It is not individualized financial, tax or legal advice. Historical returns do not guarantee future results, and all projections are for illustration.

Keep the conversation going:
Read more at thefinancialcocktail.com
Enjoying the show? Subscribe and leave a review. It helps other CRNAs and SRNAs find us.
Have a question or topic request? Email us at ldmurren@thefinancialcocktail.com

The Financial Cocktail is for educational and informational purposes only and is not financial, tax, investment, or legal advice. Always consult a qualified professional regarding your individual situation.

You'll graduate broke, and then a paycheck lands that's bigger than anything you've seen before. What you do in the next 12 months will quietly set the course of your whole financial life.

In this episode, Leland Murren, CRNA, introduces the Moneymoon. Like a honeymoon, it's the exciting phase that follows a major life change, in this case passing boards and starting practice as a CRNA. It lasts 1 to 5 years, and it's the best window you'll ever have to maximize a large gap between what you earn and what you spend.

We cover:

• The graduation-day snapshot: about $150K in debt, stepping into a $230K+ income
• Hedonic adaptation and why the goal is to live to your net worth, not your income
• Why the average American saves only 2.7% of disposable income, and why CRNAs should aim for 25% or more
• The math of investing early over 10-, 20-, and 35-year horizons
• A real case study: holding cost of living steady, adding extra shifts, setting a SMART goal with an FI number, and moving to full-time locum work, with honest talk about the tradeoffs
• Three steps you can take this month to protect your Moneymoon

Your Moneymoon ends whether or not you plan for it. Keep the gap open while you have it.

🌐 Read the blog, send questions and request topics at thefinancialcocktail.com

This podcast is for education only. It is not individualized financial, tax or legal advice. All projections are illustrative, and the personal figures describe one household's experience. They are not benchmarks or guarantees.

Keep the conversation going:
Read more at thefinancialcocktail.com
Enjoying the show? Subscribe and leave a review. It helps other CRNAs and SRNAs find us.
Have a question or topic request? Email us at ldmurren@thefinancialcocktail.com

The Financial Cocktail is for educational and informational purposes only and is not financial, tax, investment, or legal advice. Always consult a qualified professional regarding your individual situation.

Your employer says the 401(k) limit is $24,500. For self-employed CRNAs, the real ceiling is $72,000. That's nearly triple.

In this episode, Leland Murren, CRNA, breaks down the Solo 401(k), which may be the strongest wealth-building tool in the tax code for 1099 CRNAs, locums providers, and anyone with self-employment income. If you pick up even a few 1099 shifts on the side of a W-2 job, this one's for you.

In this episode:
- Where the 401(k) came from, and the tax arbitrage that makes it work
- The two-bucket structure: how being both employee and employer pushes your limit to $72,000
- A real-world example: how a CRNA household can put up to $144,000 a year into Solo 401(k)s
- 2026 SECURE 2.0 updates: the age 60–63 super catch-up and the new Roth catch-up rule for high earners
- Traditional vs. Roth Solo 401(k): which bucket fits your season of life
- Solo 401(k) vs. SEP-IRA vs. SIMPLE IRA vs. defined benefit plans
- Why a SEP-IRA can wreck your Backdoor Roth (the pro-rata problem)
- A decision checklist: is a Solo 401(k) right for you?

The tax code isn't neutral. It rewards people who understand the rules. Open one. Max it. Thank yourself in 20 years.

🔗 Questions or topic requests: https://thefinancialcocktail.com
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Disclaimer: This podcast is for educational and entertainment purposes only and is not individualized financial, tax, or legal advice. Contribution limits reflect 2026 IRS figures (IRS Notice 2025-67). Consult a qualified CPA or financial professional before making decisions.

Keep the conversation going:
Read more at thefinancialcocktail.com
Enjoying the show? Subscribe and leave a review. It helps other CRNAs and SRNAs find us.
Have a question or topic request? Email us at ldmurren@thefinancialcocktail.com

The Financial Cocktail is for educational and informational purposes only and is not financial, tax, investment, or legal advice. Always consult a qualified professional regarding your individual situation.