AANA Meeting

I wish I was able to meet everyone up in Seattle but this year is the new family time.  We have so many things we want to do each and every day it's just impossible to do all of them.  

I hope that all will make time for the vote and meetings as they are on-line this year!  

I am truly trying to make this site and blog helpful.  Help me make it standout as a site that others go to for solid information.  The only way to do this is to have people know that it exists and then to give feedback on how I can improve it.  

I have sent more than ten companies e-mails asking for tips, blogs, and information on how to help CRNAs in the tax, financial, mortgage, and insurance areas.  These areas are key to the financial health and well being of the independent/locum CRNA.  

I'm hopeful to get more and more information to you as I am able to get these very busy professionals to pass along their professional information.  I will continue to strive to give you excellent content and information as able.  

Please make time to go to the exhibits and tell locum agencies they can post their ads up so you can see what just applies to locums.  Also, give people both the Facebook and LocumCRNA.com site so that they can be involved and continue to learn.  

I look forward to hearing your experiences in the future.  

New Additions

Hello to all!!!

I'm working on getting more information on Insurances from Canyon Clifton as a blog post and then more information to feature on a page with-in the website here.  This way the information is readily available.  

I'm also working on a blog post from Matt at Mortgage Lenders of America on 1099 Mortgage loans and recommendations.  This will also be added to the blog and a separate page for future reference.  

I'm going to be reaching out to tax preparers and financial advisors for their input as well.  

Please keep an eye out for any information you would like to see added so this website is best for you!  

Busy Life

Can I just say how fast life is flying by?  I have been in Philadelphia a month and a half!  We are settled in and Rosie has broken 2 Leashes... it's a miracle the little Frenchie is not DEAD.  We live in the very busy downtown area of Philly and there are highways and significant throughways all around our apartment!!

We must be getting busy because we are talking about how busy we are and how much we have to do.  That usually means we are settled in a place and are just becoming cranky that life is catching up with us!  We love getting to do all these things here in the city but housework is not loved by anyone!  

So, when you decide you are going to locum.  You have to think about what you are going to do and how you will live in the city.  Francisco loved the hotel where they came to clean each and every day.  Life was totally different pre and post Elizabeth and the hotel was almost do-able before the little girl blessed us ... but now we move.... EVERYTHING EVERY TIME.  We plan for long term options and what we can do in the event things change.  

I have to look at what the best options are for us and where the opportunities exist.  We also look at cost of living.  We are also down to one car as our truck wouldn't fit in the parking garage here.  We only did this for a short time in Dodge City years ago but we had bikes and other activities in a small town.  Now we have lots of activities but two dogs, two of us, and the kiddo soooo we are again a little limited.  

The great thing is we are paying bills and getting ready to pay off the Jeep we have with us!  I'm so stinking excited.  Each month I see the total debt reduced in a significant way, I'm so happy.  It makes the amount of work worth while!  

Francisco is starting his food channel on YouTube and talking to me about the food truck again.  I think someday we might work on a restaurant but it will be so difficult to bring that into the mix.  

Just my thoughts on today!

Lazy

Lazy is totally unacceptable... at work anyway.  It's another Sunday and yesterday was housekeeping day.   I found my Solo 401K paperwork sitting on my desk under the mountain of paperwork.  Don't let this be you.  

1.  Grab your EIN (employer Identification number).  This is what you, your accountant or whomever filed your incorporation documents sent on-line to the IRS which makes your company a living number.  For a sep or solo 401k... you need this

2. Your business name as it is in the incorporation documents complete with punctuation  

3.  Print the documents and decide how much you are going to put aside.  

4. Do it and actually send them in.  Your account and tax saving definitely won't start with out this!!

Yesterday, I was catching up on thank you's.  So, I have to vent a little.  Francisco has been a little self-oriented lately and I'm not sure if I have just overly appeased or somehow in thinking of the other... I over did it but I've had to tell him it's not just about him and I need some time for doing... everything.  He cooks and cleans amongst the everyday dog and Elizabeth duty but when I get home it seems that all shifts to me as well... so now I'm having to tell him I have to work on the business, the desk, the rental homes, the bills for the house, accountant, & lawyer.  He's like soooo you going to go to the gym in 30 minutes?  Short of having him do ... because it won't get done... how do I get him to notice all of this because he thinks it's 10 minutes worth of work?? 

I hired help but she has been on vacation and dealing with big family things for weeks.  I missed my oil change yesterday which was severely frustrating.  Francisco says what's the big deal?  Oil is on its last 10% life and I work 5 10's followed by 24 hour call. I'm not sure (when we have 1 car) here just what he thinks I can do and with what time?  

I'm reading reading reading on my gastric sleeve, talking to patients from the surgery, and reviewing everything.  I grow more convinced that I found the correct surgeon.  I think I have the normal pre-surgery jitters and it's months away.  I can't wait to fit into clothes it's been years since I saw.... granted they are mostly in Kansas so I'll be looking like baggy clothes guy for a while as I'm cheap,  in some respects!   

Work,  I was leaving Friday and found security slapped a sticker on my jeep window for move-it or be towed.  I couldn't believe it and I was fuming.  They told me to park in the garage and I did.  They failed to say or show any designated place in the garage.  So I got off early to find said sticker and called them to remove it.  They refused.  I tried to peel it and that was wrong.  I stopped at AutoZone for a razor thingy to get the sticker off... remarkably easier than I thought.   I then apologized to the security people explaining I had never dealt with a sticker and though it would be much worse to remove.  

After the sticker situation I was stuck in a GPS nightmare!  The main road was closed getting home.... construction!!! Seriously the road was fine!!! Drivers on the road they need to fire!  Seriously, they need 1000 cops pulling over these crazy drivers every time they use their car as a battering ram!  I saw an Uber driver with a dash cam... best thing ever!   

Ok, I've vented enough...back to your regularly scheduled life! 

House Keeping

Today is general housekeeping day for cleaning and the like.  But, I'm referring to the site and FB Page.  I am trying to clean it up and look for ways to improve the site and make it more viable for others.  If you know of a way that I can improve things.  LET ME KNOW!  LOCUMCRNAS@GMAIL.COM or CONTACT ME!  It really is that easy.  I'm working on the states licensure requirements.  I do this on a weekly basis as it's quite tedious and some states really do not make it easy to find the requirements.  

Elizabeth is taking a nap and Francisco doing cleaning in another room so I really do need to get moving to work on this mountain on my desk!  When I say organization is key... it's because some days I feel a little CRAZY... like today :)  

I hope you have an amazing weekend.  Let me know your questions!

Taking time

One of the things I truly forget about is... myself.  Taking care of myself, taking time for myself, and just taking time with family.  

I get so involved in the number of hours, case types, and thinking ahead to length of assignment/finances/bills/investments that I lose sight of self.  I forget the 70 hours of work and 40 hours of sleep is 110 hours in 5 days 5x24 120 doesn't leave a lot of time when you drive an hour a day.  Most weekends I am off which helps but notice I say most because I offer myself up to any days.   

So, as I mentioned I'm planning our family vacation to Hawaii to see my brother and sister-in-law.  This takes financial and self awareness.  You'll recall I'm 1099 which means paid vacation does not exist.  I have to make sure all standard bills will be paid while gone and that $$$ exist for hotel/AirBNB, tours, and the like.  

This week long vacay may only be a week but I've decided to do something that 50% of people say horrible things to me about and the other half... support.  I'm going to get my gastric sleeve.  Not because I can't just go on a diet and lose some weight.  It's because I can't get myself to completely change my habits.   Why?  When I diet I can rationalize that this workout or diet for three days means I can go with friends to X restaurant have drinks and dinner and enjoy... then the next day I just skip the workout because I'm tired and have a beer with dinner because man I worked so hard.  The wagon is broken.  I'm changing the ability to rationalize by saying my body has been altered and despite all things and what people say .. I'm limited in ability to fall.  Yes in 3 years if I want to screw things up... I can.  Have you changed everything for three years and decided to return to a life you didn't like?  My hope and goal is to do this drastic thing to myself to force a change in habit.  Right or wrong I'm doing this so I am around for this family.  I feel like if I don't I'll be that 40 year old in the ER with a heart attack.  I'm hoping at 37 this will allow me to physically change and reverse the negative effects on my health before they are permanent.   No it's not because I don't want to exercise.  In fact, I walked 6 miles today with elizabeth.  It's not because I hate healthy food.  I love it... too much.  It's portion re-training:  yup, I'll have to break the Diet Coke addiction too.  

That's two things I'm doing for me... but that's in November.  You can't just take a week every 3-6 months and feel fulfilled.  I think at least every couple weekends you need a little just for you or just for family time so you see the fruit of the labor.   

What do you do? 

Weekend

I am so happy it's the weekend!  I went for a four mile walk with Elizabeth.  Sent Francisco to the Urgent Care office for bronchitis and may send EE but she seems to be improving.  

I can always tell when I start getting paychecks again.... I start planning what it's going towards.  So, we are just planning our trip to go see family in Hawaii for Thanksgiving and I'm also thinking that just after I will be considering the Gastric Sleeve.  Lots of things would have to come together to make this possible but I can see the possibility. 

It's amazing how opinionated everyone is on the subject.  It's not an easy thing to come to the decision of "there is no way this will happen and be lasting if I continue to do the diets, exercise, and all the things I have done over and over again"  They have morally bashed me saying it's just you and you can do on your own, you have to be an example for your kid, and you need to just be a better you.  You don't think I know this... you know I walk a couple miles multiple times per week, you know that I know what I should eat, you know I know the portions and then what the stomach and brain say totally contradict the rest.  It doesn't matter how much I know... it's the habit and ability to truly change the body and mind.  Yes, I can totally screw this up... I can do everything and lose the weight and 4 years later over-eat so much that it stretches the stomach and I gain all back and more.  The idea is to completely overhaul the brain and break the habits that one goes to when a diet fails or missed exercise days become months.  

So, I'm still looking into options. 

Work is work and we are busy.  I love good days but I'm so not used to having multiple people in the room "helping".  I am not used to a hospital where the room nurse and CRNA don't go get the patient together.  I'm not used to the differences at this hospital than the ones I've been to in multiple states so I'm having a harder time not saying "this isn't right and needs to be fixed".  Generally, I try to stay out of politics and policy.  I have told several that this is going to cause errors and they have even said that it already has caused them.  In which case I don't understand why the process hasn't been changed?  

Maybe it's not my soapbox to get on.  Philadelphia is a very different city to me.  I know we'll be here for a while so I better start embracing it a bit more :)  time to work on the websites, plans, 401K and so much more.  

I hope your journey is amazing!  

To Sep or Solo

A big question asked often is weather to Sep IRA or Solo 401k.  Of course, I must make the statement that I am not a tax or financial advisor of any kind.  Now, I talked to Vanguard about starting a Sep IRA or a Solo401k.  

I talked to a business advisor and not just the personal finance advisor.  I had them and said I'm a 37 year old 1099 earner with my own Llc S-corp with flow through Gross X amount and taxable net income amount of X.   

He said, ok so for a Sep IRA you can do up to 25% (up to 52-54k) business contribution in basically any investment vehicle through a brokerage account.  A Solo401K you can do 25% (up to 52-54k) business contribution plus $18000 personal addition to your 401k.  They will only allow vangaurd funds for the Solo 401K.   These are also different if over 50 years of age.   There are eligible catch-up contributions as well depending on the IRS regulations.  (This is where a tax/financial broker will help.)

I said ok, if I have others in ownership of my company do I have to pay out the same amount or percentage to them?   

Yes, if they are paid owners from your corporation then they will require the same amount as a percentage of their income in retirement for either the Sep or Solo but personal contributions don't have to match. 

No, if they are unpaid. 

So, I clarified again that both are pre-tax IRA investments and should decrease the overall taxable earnings in the future with the understanding that taxable income in the future would likely be less in retirement than right now.  They agreed.   

I have asked for the information on the accounts and will include them as attachments to the Blog if possible.  I will also add the supporting IRS fact sheets for both the Sep and Solok.   

The phone number for Vangaurd Business Solutions is: 800-992-7188

I chose Vanguard based on the discussions on the Dough Roller Money Podcast based on the simplified minimal basis point costs and overall low fee structure.  Low fees and good management history points toward a possible growth in the future despite my negativity on the overall stock market.   

I also have questions on rights of survivorship so will review the forms for potential to rollover on death to other family as a paying IRA in the future.

SOLO 401K IRS PAGE

 SEP IRA IRS PAGE

Individual 401(k) New Plan Kit Vanguard

Fun plan

Today I was at a third hospital and people say things like I can't believe you remember from place to place what you need to do.  The good news is anesthesia is anesthesia.  Knowing where everything is even at a place you've worked for a year has a bit of a relativity factor.  Meaning you get used to a place fairly quickly and if you get a halfway decent OR crew, anesthesia tech and are surrounded by decent people... it's probably going to be ok.  

Now, Fun.  Seriously, you have to go to work having fun!  Plan each day to be exciting and happy.  If you drag people down everyday and you are around people stressed and unhappy. Where will your job satisfaction be?   

You have to have fun on the weekends, after work, and plan vacay!!! Life isn't just work.  What you do outside of work leads to your whole self health.  When I get off work I'm going to.... 

If your friend said when I get off work I'm going to take my daughter out for a walk along the river, see the urban culture of a melting pot of people at a skatepark to skulling for their college crew teams, then shower and have a relaxing corona by the pool.  Would you think they were negative about the city or bored?  If you are on an assignment you have to be the person that makes your afterwork and weekend plans.  You have to be the friend that says hey let's go to Atlantic City.    

Every place is what you make of it and it's important to keep yourself and others excited about what you do.  That first plan was my night tonight.  It cost 2$ for the beer and otherwise it was a free nights entertainment.  Your colleagues, nurses, techs don't need to know when you spend $1000 on a trip but they should hear how excited you are about what's happening in their backyard.  It also leads to your overall satisfaction by not becoming TV bound or complacent.  

Best of luck and add some fun to your plan!   

a bit of my flexible plan in progress

My plan:
Regional Anesthesia Services LLC.
Fundamental delivery of anesthesia that is sound in practice and based on widely accepted care.
Provide care as a locum anesthetist in order to allow for an income stream that is higher than average W2 and allow for better than average tax savings.
Utilize a portion of the company to inform & educate CRNAs regarding locum anesthesia and allow them to support the site by referrals, site support tab for T-shirts or someday have enough traffic to the site for advertising revenue.
Personal finance:
I want to mention this as many of us are well paid but debt being what it is, it is easy to stay in-debt.  I have a spreadsheet that shows all debts and a planned pay-off date for getting out of debt.  Strategic use of debt for assets can be good but long-term high interest debt can be a real struggle.  Set a system in place that will keep the overall monthly debt decreasing and either increase income or decrease spending in order to decrease the overall debt burden monthly.
Retirement: despite debt and the fact that it's there many are more interested in retirement savings and depending on the rates of interest on debt ... retirement planning is very important and may be more beneficial than the quick pay-down of debt.  You really need a good financial planner and CPA to discuss this with.  This year will be my first year venturing into the dilemma of solo 401k v sep IRA.  My net taxable income was pretty low compared with gross income and therefor it appears that the solo401k may be a better option.  I also now have to think of our child and my husband.  Tax, financial, & retirement planning are a family ordeal and now they have to be taken into account.  Being able to save with the least post tax income, in most instances, is the goal.
Insurance:
Usually a necessary evil in the world. How much is enough?  How do you protect yourself without being taken advantage of and what is too much protection?
Health insurance... most agree you have to have this.  Some plan for if something catastrophic happens at the minimum.
But what else? This depends on where in life you are?  Are you fresh out of school and can't afford a week without a paycheck?  Do you have a cushion of expenses socked away in a semi liquid investment?
Short term and long term disability?  Do you need it?  Do you have to work to pay the bills?  If so, at least long term disability might be beneficial for you.  Can you take 3 months off and be ok?  If not, short term disability might be important.  Why am I not definitively stating?? I don't know your position.  I have other investments in real estate that are acting as my disability insurance and retirement savings.  They are not liquid and for a couple years it's been a big risk not having extra insurance. But the funds that would have been paid to insurance went into property that now keep me from the stress of what if someday.  It's still not even at bill paying level so I should technically have insurance for disability but if I had to cut back and sell things... I could live off the rentals.  Sooo, it's a start.  Things to think about concerning disability insurance.  Is it an "own profession" policy if not the insurance will say you can work as a Walmart greeter and you are not disabled.  This is a clause though that means the insurance will be more costly.  Also, please look at the overall payment amount should you have to use it.  Ask your CPA, but I think this amount is taxed as income.... sooo, is it really enough?  Many say it 30-40% of income but enough to pay the bills if I get injured (speaking about short term recoverable injury), what happens with permanent disability?  How long will it cover you and at what rate?  Does it change for inflation?
Life insurance:
So when I advise financial, tax and estate planning, I tend to tell people to be very acutely aware of those that try to place them in a whole life policy or an annuity.  These are insurance products that are high commission for the agent and have a lot of loopholes for the insurance company and some questionable benefit for the average individual.  Most advisors, planners, CPA and tax individuals that are not insurance sales people have recommended term life insurance.  Term allows lower premiums during the period of life where you are least likely to pass away.  This allows you to invest more for retirement, put dollars to work so that you may have your own estate plan that covers your final expenses when you die at 150 years of age and life insurance isn't needed.
Malpractice insurance:
First know your carrier and type.  Claims made V occurrence.  Do you have your own insurance?  Do you have a policy covered by your employer and have no idea?  If you have no idea... did you know that you could have been named in a malpractice suit and it settled without your knowledge or consent? This is one expense I don't go without.  This is very state specific and hospital/credentialing requirement specific.  Independent, 1099, county, state, and length/type of practice are generally taken into account when setting up a policy.  Any move or change requires a call to your insurance provider.

This is a part of the plan but it's getting long