I recently came across an interesting thread on Reddit while searching for nurses and financial independence. The discussion was debating whether being a nurse or physician would provide a faster path to financial independence. It was an interesting read and even included a chart comparing salaries and the rate at which one could achieve a nice retirement nest egg. But I felt like it missed the point. Becoming a medical professional of any kind is predicated on a desire to help. We deal with human suffering and have immense power to change someone’s life – that is fundamentally what draws us to this profession. (I will discuss elsewhere on this blog about my international humanitarian work and my ultimate decision to return to the states to “help at home”). Some may think that the only path to financial independence is a high-paying career, working long hours and side hustles right out of school, and living well below your means – and that is A strategy that works for FIRE. But I have had a varied career that strays from these principles, including volunteering and seeking positions in which I made half the salary of my peers because I believed in the mission of the work. Admittedly, I was younger and single at the time 😉 but I wouldn’t change a thing. I feel lucky to be able to have experienced both – meaningful work as a nurse and a salary which has ultimately allowed me to save enough to begin my journey to financial independence.
An important aspect of my personal life that wasn’t mentioned in the Reddit discussion, and seems to be frequently left out of conversations about FI, is the importance of my roll as a caregiver. This is a roll that many nurses share with me. Caregiving has been, and continues to be, an important part of my life – providing for my kids, caring for my parents, and having time to devote to good friends and family. It is a really hard juggle! However, FI will afford those of us those of us with multiple familial responsibilities many benefits. Being able to have time and financial freedom when thinking about a future that includes time for caregiving – and hopefully travel (!!) -makes me feel more secure about, and more determined about, this path.
Any thoughts? Please join the discussion below…
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nponfire
I am a Nurse Practitioner and single mom on a journey to financial independence - here to share my thoughts and hear yours!
I've been a NP for 20 years - I have worked all over the world and settled here on the East Coast where I work with immigrant families from Latin America. In all these years, through all the experiences I have had, my one constant has been a feeling of gratitude for what I have been offered : great jobs, good health and a supportive family. I am happy with what I have, and hold a view of the future as one in which I will continue to have happiness, abundance and adventures.
I am also someone who grew up in a frugal household run by a single mother. I worked my way through undergraduate and graduate school, experienced serious health issues during my three pregnancies, and faced adversity in a complicated marriage which ended in divorce. I continue to struggle with my role as a single mom, full-time nurse, caregiver for many family members - and how to balance all of that. And yet, I see Financial Independence (FI) as a way to order my life, focusing on a future in which I will have the freedom to continue my caregiving and also feel personally fulfilled. My hope is that by sharing this journey to FI, I can discuss strategies and thoughts along the way, hearing from other Nurses/ Nurse Practitioners (NPs) who have a similar vision - and how you are planning to get there!
Join me!
Disclaimer:
What this blog is : my attempt to create a community. I want this to be a place where we nurses can learn from each other, we single parents can share strategies about FI, and where all of us caregivers can find support and inspiration on our journey to FI. I will share personal FI experiences such as : nursing as an awesome career to achieve FI and be super happy in general, my investment strategies, how kids influence my journey to financial freedom, the psychology behind FI.... And would like to create a community of other Nurses/NPs to share/discuss their ideas about FI.
What this blog is not : a how-to guide for how to achieve FIRE as there are so many amazing blogs, websites, books, and podcasts already doing that. I will link to helpful resources already available in the community, but apart from sharing my personal journey, I will leave the details to the experts. This is also not a place to discuss medical conditions (except for my own psychological angst and anxiety about money!).
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