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“Get in the habit, put some money away, or pay something off every month and make it a priority.”


Welcome back to The Investing RN Podcast, today we sit down with Leland Murren, a Certified Registered Nurse Anesthetist (CRNA) and the financial maestro behind the popular blog, The Financial Cocktail. With his rich background in nursing and anesthesia, Leland is dedicated to empowering fellow healthcare professionals to take command of their financial well-being.


During our conversation, Leland recounts his path into the medical field and underscores why financial literacy is critical for those in healthcare. He shares advice about the transformative power of saving and investing right from the start of one’s career and offers actionable strategies for effective money management and reaching financial milestones.


Leland highlights the advantages of investing in low-cost, passively managed index funds to fuel long-term growth. He also stresses the importance of being aware of transactional friction – the small but significant costs associated with frequent and impulsive spending – and how to sidestep these pitfalls for smarter financial choices.


Embracing a frugal lifestyle, like during  student years, is another key theme Leland touches on, explaining how it can lead to rapid debt reduction and a faster accumulation of wealth. He encourages listeners to consider opening and regularly contributing to a Roth IRA early in their careers to enjoy the benefits of tax-free gains and to build a robust retirement fund.

This episode is packed with cultivating a financially savvy mindset, making prudent investment choices, and the role of discipline in achieving long-term financial health. Whether you're just starting out in healthcare or looking to refine your financial strategy, Leland’s guidance is sure to be an invaluable asset.


🔑 In this episode, you will learn:

• Saving and investing early in your career can have a significant impact on long-term financial success.
• Cutting out unnecessary expenses and adopting a frugal mindset can help individuals save more money.
• Leveraging low-cost, passively managed index funds can be a smart investment strategy for long-term growth

⏱️TimeStamps

[0:00]Introduction to the importance of saving and cutting out excess

[2:20]Leland's background and journey into nursing

[5:38]Decision to pursue CRNA school and the benefits of nursing

[8:40]The rewarding aspects of being a CRNA and independent practice

[11:57]Importance of personality and drive in choosing a job

[18:09] Lack of financial literacy and discomfort around money

[19:18] Impact of financial discussions on personal finance habits

[21:22] Healthcare professionals and managing student loans

[22:27] Going back to school and the payoff of higher salaries

[24:24] Saving money with a no spend month

[30:52] Material possessions not being a priority

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