Thirty, Flirty, and Thriving Millionaires

We have joined the two-comma club. As the title suggests, the TFC household has attained millionaire status. A net worth of $1M at age 30 -- a financial milestone achieved by only 2% of millionaires.

This is a post I have contemplated for a while. Feeling a bit vulnerable, but the net benefits of transparency trump my feelings.

This post speaks to what we did as a financially motivated family. It’s an aggressive stance towards wealth accumulation. I don’t recommend it, but this is proof of concept.

Not bragging or boasting. No magical stock picks, lottery winnings, or house appreciation. Just a regular guy with a “why.”

Okay…why? I’m prioritizing taking care of my family through financial means and building a portfolio that will provide endlessly. Money is a tool -- nothing more, nothing less. The whole “financial freedom” thing is real though. Make earned income optional. Think about monetary decisions as a spectrum with each extreme presented by our friend Morpheus.

You take the blue pill – the story ends, you live paycheck-to-paycheck as a CRNA for 40 years and believe whatever you want to believe. You take the red pill – you stay in CRNA wonderland, and I show you how to be financially set for life within 7 years.  

We earned most of the money in just a couple years, but the TFC financial journey started long ago. I’m telling the whole story to extinguish excuses and provide encouragement to anyone looking to get ahead financially.

The mindset was to live conservatively, spend mindfully, and pay everything along the way. It wasn’t the most efficient, but it worked.

Phase I

Age: 14-22

Net Worth: $0-$40,000

I worked a summer construction job throughout high school and college earning $10 per hour. All of this went towards undergraduate tuition.

Summer weekends were spent umpiring. An evening would generate something like $15 per game. Tournament weekends with 8-12 games totaled $200-250.

Let’s call it $750 gross per week. Likely $10,000 annually including hours during holiday break. Humble beginnings.

The next crucial aspect of the financial journey was college selection and duration. I went with an in-state public university. After all, a BSN is a BSN. It’s not one of those critical degrees where it’s advantageous to attend a top 15 program.

I finished the program in 4 years with an all-in cost of $60,000. That’s tuition, housing, meals, etc. I had a few scholarships and a contribution from my parents. Maybe $15,000 total (complete guess, but probably in the ballpark).

With $45,000 remaining, this was manageable to bankroll.

Phase II

Age: 22-25

Net Worth: $100,000+

Bank accounts depleted and degree in hand, I started in the ICU earning $22.45 per hour in a low-cost area. Big budget guy at this time. Split the top floor of a duplex across from a couple drug dealers for $312 per month plus utilities. Spent $55 weekly on food. Learned to have fun without spending a bunch of money.

I had the idea that I needed approximately $80,000 to pay for CRNA school. So, I lived like I was broke – because I was.

To close the gap, I picked up extra shifts and eventually signed a “straight weekend” contract. Best move ever. Not only did my base wage increase to roughly $34 per hour, but the shifts were easy going.

I don’t recall my W-2 totals, but I would guess I earned something like $65,000 and $80,000 respectively during my 2+ years as an ICU RN.

Biggest regret: I really missed the Roth IRA opportunity during this time.

Phase IIa

Mrs. TFC was also working as a nurse at this time. She carried a $27,000 debt from undergrad. Annual earnings were probably $50,000. She had a work-life balance conducive to sanity – I did not.

The $27,000 debt was eliminated after 11 months of working. All credit to Mrs. TFC. She locked down the finances and made it happen.

With no debt to her name, Mrs. TFC started a Nurse Practitioner program after 2 years of working as an RN. This program was hybrid online. She was able to work nearly full-time, pay her tuition in real time, and graduate debt free.

Phase III

Age: 26-28

Net Worth: $150,000 and rapidly vanishing

Anesthesia school. 36 months to complete. No income. Really expensive. Something like $100,000 in tuition.

I began learning about investments outside of certificates of deposit. I took great interest in stocks, index funds, and real estate.

Sort of felt like I was caged behind the financial starting gates. The minute they open, it’s full speed ahead.

Phase IIIa

Mrs. TFC was working as a Nurse Practitioner grossing $96,000 annually during the last part of my schooling. She was putting 5% into retirement and saving for the many expensive purchases to come.

Phase IV

Age: 28

Net Worth: $25,000 in a 401(k); $0 liquid

CRNA status achieved. A long haul, but well worth it.

I graduated debt free. Between the end of May and the middle of July, Mrs. TFC and I spent pretty much everything thing we had on a wedding, two-week honeymoon, cross country relocation, and a 5% down payment on a house. Finances were tight, but we both had jobs and enthusiasm.

During the period from age 28 to 30 I worked a lot. Like…a disgusting amount (according to non-workaholics). It didn’t feel terrible because the hours during school were pretty heavy. I was accustomed to filling open days with work. And I was sick of being broke.

We accepted the first job with a 3-year runway in mind. Well, 12 months of 50% staffing and mandatory overtime were enough to make the locum market look quite appealing.

Our goal was to save $20,000 per month. Essentially live off her income and invest mine. Well, overtime kicked in and we surpassed that goal with little trouble.

Phase IVa

Mrs. TFC works 10-13 days per month (12-hour shifts) as a Nurse Practitioner. Her gross earnings increased to $134,000 annually. DINK status (dual income, no kids).

Our net worth 6 months into life as a CRNA was $241,571.

1 Year Out: $546,829

1.5 Years Out: $763,817

2 Years Out: $1,017,513

A total comprised of $975,000 of investable assets. No debt. No house. Paid for vehicles (one of which isn’t figured into our net worth. Just…because.).

In the name of transparency, we received an inheritance during our first year (modest relative to income). We are grateful that a relative thought highly of us and looked to extend the gift of generational wealth. Even more importantly, this generation of family laid the groundwork for our financial habits. They were influential in our decision and ability to save a combined $30,000 monthly. And currently $40,000 monthly on 1 income. One example supporting generational wealth is built between the ears. And for this, we thank you.

Phase V

Age: 30

Net Worth: $1M

I’m writing this 7 months into locum work and can safely say it was a great decision to transition. I work less, earn more, and spend more time with my wife, daughter, and dog. Mrs. TFC retired when Little Miss TFC arrived. That means we are approaching 1 year of being a 1 income household. We are stockpiling more money than I thought was possible – About $40,000 monthly.

All of this frontloaded effort to be increasingly present for the family. Time is more valuable than ever. Due to our progress, I’ll tone down the work a bit in 2025 to avoid burnout. Around age 35, I’ll probably cut back to 26 weeks per year. We will likely match our cost of living to income at that time.

Just because I know it’s coming, we did all of this with hefty medical bills, a childbirth (and those medical bills), a pet, and no financial advisor. Our undergraduate degrees were mostly self-funded. Our graduate degrees were 100% self-funded. Our wedding and honeymoon were 100% self-funded. We actually lost money on our house. And we self-manage everything.

The jobs I have held (FTE and locum) are currently open. That means another CRNA could literally work the exact same jobs.

We aren’t special, just willing to delay satisfaction. We made the most of our blessings. Luck is only beneficial if one can use it.

I tell this story to inspire. To validate that you, the reader, can do it. And we will be right there with you because our financial journey is just getting started. Crossing the seven-figure threshold marks the transition to wealth management. The path commonly traveled isn’t always the way to go.

A great idea without action is worthless. Potential without action is worthless. Intentions without action are worthless.

There are plenty of folks with a greater net worth and there always will be. Compare carefully. Money isn’t a measure of success or human value. It’s just a tool.