Financial Independence as a CRNA: What’s Your Number?

Most CRNAs enter the profession for meaningful work, good pay, and career flexibility. But what if you could have complete freedom? The kind where work becomes optional—not mandatory?

That’s what financial independence (FI) is all about. It’s not just about retiring early. It’s about reaching a point where you have enough money saved and invested that you no longer have to trade time for income.

At CBFC, we help 1099 CRNAs map out their path to financial independence—because with the right strategy, your income potential can help you get there faster than most. The first step? Knowing your number.

What Is a Financial Independence Number?

Your “FI number” is the amount of money you need saved and invested to live off of your portfolio for the rest of your life. The most widely accepted formula is based on the 4% Rule, which says you can safely withdraw 4% of your investment portfolio each year without running out of money.

FI Number = Annual Expenses × 25

So if your desired lifestyle in retirement (or financial independence) would cost $100,000/year, your FI number is:

$100,000 × 25 = $2.5 million

This doesn’t mean you need $2.5 million to live now—it means that’s your target if you want to live at that level indefinitely without working.

How CRNAs Can Reach FI Faster

As a 1099 CRNA, you’re in a better position than most professionals to hit that number. Here’s why:

• High income potential with flexible schedules

• Access to tax-advantaged retirement accounts (Solo 401(k), SEP IRA, Roth IRA)

• The ability to control expenses by picking contracts, locations, and hours

• Opportunities to work seasonally, part-time, or go PRN after hitting early milestones

The key is turning today’s income into long-term investments that grow even when you’re not actively working.

Step 1: Know Your Target Lifestyle

Financial independence is personal. What you need to live on comfortably may be very different from another CRNA’s goals. Consider:

• Mortgage vs. renting

• Children’s education costs

• Travel, healthcare, and hobbies

• Whether you want to stop working entirely or just cut back

Define your ideal monthly or yearly expenses—then reverse-engineer your FI number from there.

Step 2: Start Investing Toward It

If you’re early in your CRNA career, the best move is to start now and let compound growth work for you.

Here’s a sample saving plan for a $2.5M FI goal over 20 years:

• Save/invest $5,000 per month at a 7% annual return

• Reach your goal in roughly two decades—possibly sooner with raises or bonuses

Use a mix of:

• Solo 401(k) or SEP IRA for tax-deferred growth

• Roth IRA for tax-free income in retirement

• Taxable brokerage accounts for flexibility

Step 3: Track Your Progress

Every dollar you save today brings you closer to optional work tomorrow. Monitor:

• Net worth

• Investment growth

• Yearly spending trends

• Savings rate (aim for 20–50% if you’re serious about early FI)

At CBFC, we help 1099 CRNAs build personal financial dashboards to visualize and track these goals over time.

Final Thoughts

Financial independence isn’t a fantasy—it’s a math problem with a solution. And with your income potential as a 1099 CRNA, it’s absolutely achievable.

Whether you want to retire early, travel more, or just stop saying yes to every contract, your FI number is the roadmap. Once you know it, you can plan around it—and live life on your terms.

Ready to calculate your financial independence number and start building your plan?
Schedule a free consultation with CBFC and let’s help you get clear, confident, and financially free—on your timeline.