#62: My Nursing Salary Progression (15 Years) & Money Trap to Avoid

Achieving Financial Freedom as a Nurse: A 15-Year Journey of Salary Progression and Smart Investing    

 

Ellaine, a nurse practitioner and founder of Nursing FlowSheet, discusses her 15-year journey towards financial freedom and the importance of combining income growth with investing. She shares her personal salary progression from a bedside ICU nurse earning $28 per hour to a nurse practitioner making $250,000 to $270,000 annually. Ellaine emphasizes that merely increasing income is not sufficient—investing wisely is crucial to building wealth. She offers practical advice on avoiding lifestyle creep, using raises purposefully, and tracking expenses. Ellaine also advocates for job switching as a significant income lever in nursing, supported by data showing that job switchers earn more than those who stay put. Lastly, she stresses investing in assets, particularly the stock market, to combat inflation and secure financial freedom.    

00:00 Introduction: The Journey to Financial Freedom

00:39 The Reality of Chasing Income

00:56 Key Truths About Income and Investment

01:20 My Salary Progression as a Nurse

11:03 The Importance of Job Switching

14:08 Avoiding the Salary Trap

18:23 The Power of Investing

19:23 Conclusion: Building Financial Freedom    

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 Scrubs and Stocks Podcast is a podcast hosted by Ellaine Maala, RN, NP who is a finance educator, nurse, and owner of NursingFlowsheet LLC, which is a finance and career blog for nurses. This podcast is created to help nurses build wealth through investing in the stock market, real estate or in their own businesses.

Nurses deserve options whether they want to retire early or work until retirement.

If you want to connect with Ellaine, follow her on:

Instagram: @nursewhoinvests

TikTok: @nursewhoinvests

Blog: nursingflowsheet.com , nursewhoinvests.com

Download my free investment cheatsheet