MoneyRx for CRNAs and NPs
Go behind the scenes with host Brett Fellows, CFP®, as he explores the unique financial opportunities and challenges facing Certified Registered Nurse Anesthetists and Nurse Practitioners on the path to financial independence. Each episode delivers expert insights and actionable advice to help you lower taxes, invest smarter, and retire on your terms.
Brett's firm, Oak Capital Advisors, specializes in high-earning CRNAs and nurse practitioners and is currently accepting new clients. From retirement income strategy and tax planning to Social Security timing, Medicare, and estate planning, they offer comprehensive financial planning that goes far beyond investment management. If you're ready to work with someone who truly gets your world, the link to schedule a discovery meeting is in the show notes.
MoneyRx for CRNAs and NPs
Top 10 Investing Mistakes That Keep CRNAs & NPs Working Longer Than They Need To
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You've worked long shifts, held everything together in high-stress situations, and saved diligently for 25 years. You think you're on track for retirement. But what if investment mistakes you don't even know you're making could force you to work five to seven more years?
In this episode, Brett Fellows reveals the shocking truth about a CRNA couple with nearly $2 million in their 403(b) accounts who discovered they'd need to work an extra five to seven years because of investment decisions they'd made over the years. That's five to seven more years of night shifts, five to seven more years of being on call, all because of mistakes that could have been avoided..
Today's episode walks through the 10 biggest investment mistakes that cost nurses real years of their lives.
Brett covers::
Mistake #1: Trying to time the market (costs 3-4% annually, nearly $1M over 30 years)
Mistake #2: Letting emotions drive your decisions
Mistake #3: Not having proper diversification
Mistake #4: Paying excessive fees and costs (a 1% fee difference costs $600,000+ over 30 years)
Mistake #5: Chasing past performance
Mistake #6: Not reinvesting dividends
Mistake #7: Ignoring tax efficiency
Mistake #8: Active stock picking instead of evidence-based investing
Mistake #9: Not rebalancing your portfolio
Mistake #10: Investing before addressing financial basics
If you're making these mistakes, you might be adding years to your working life without even realizing it. This episode will show you exactly what to fix and how to get your retirement back on track.
#CRNAs #NursePractitioners #RetirementPlanning #InvestmentMistakes
Key Timestamps:
(0:18) Welcome and Introduction
(4:18) Mistake #1: Trying to time the market
(5:50) Mistake #2: Letting emotions drive your decisions
(7:20) Mistake #3: Not having proper diversification
(8:55) Mistake #4: Paying excessive fees and costs
(10:20) Mistake #5: Chasing past performance
(11:40) Mistake #6: Not reinvesting dividends
(12:41) Mistake #7: Ignoring tax efficiency
(14:08) Mistake #8: Active stock picking instead of evidence-based investing
(15:30) Mistake #9: Not rebalancing your portfolio
(16:40) Mistake #10: Investing before addressing financial basics
(18:40) Actionable steps and conclusion
For more information and resources related to this episode, please visit the show notes.