How to Retire Early as a Nurse

If you are dreaming to retire early as a nurse, there are assets you can start investing in right now to achieve that. With focused investments and disciplined habits, you can make that dream a reality within the next five years. I was listening to a podcast yesterday, and I realized that retiring early even as a W2 (full time) employee is still highly possible.

How to Retire Early as a Nurse
Investments to Retire Early as a Nurse

I have been working in the nursing profession for over 13 years. If I had invested right when I got my first “big girl job“, I think I would’ve been closer to my goal of retiring early. However, I think that learning this later on in life is still a blessing because now, I know what I should be doing for me to be able to retire before I turn 45.

In this blog post, I will outline three specific investments and accompanying habits that I am trying to get into this year to accelerate achieving my financial freedom.

Investments to Have to Retire Early as a Nurse

1. Real Estate Investments

Real estate is probably one of the fastest way to build wealth. Right now, we own a long-term rental property. Diving into syndications and crowd funding is what I would be doing for 2024. Alternatively, real estate investment trusts (REITs) is also something I will do in the mean time because it offers a more hands-off approach, allowing me to invest in a diversified portfolio of properties. I think that I am still going to need my W2 or salary job in order to retire at 45 — which means that as far as real estate investing goes, I would need something that is a little more passive.

2. Dividend-Paying Stocks

Investing in dividend-paying stocks can provide a steady income stream during retirement. Dividends are great for “passive income”. I know that with the right research and capital, I would be able to reach my goal of making $1000/month in dividend stocks. How I will do this is by looking for established companies with a history of consistent dividend payments. Dividend income can supplement your retirement fund, providing financial stability even if the stock market experiences fluctuations.

READ: Dividend Investing for Beginners

3. Side Business or Entrepreneurial Ventures

In order to increase your investments, you have to increase your income. I love side hustles for this reason. So one of the things that I am doing is drastically increasing my income by pouring more into my business.

Read: Side Hustles for Nurses

I have been dedicating at least 2 hours of my day (when the kids are sleeping) to work on my business. I know that the sacrifices I am making now (HELLO, NO SLEEP) will all pay off in the future. This also includes being very selective with the friends I have and make because I am not wasting energy on relationships that will not help me become a better person.

Habits to Have to be able to Retire Early

  1. Automated Investing: Set up automated contributions to my retirement accounts. I am increasing my retirement contributions this year to help me reach my financial freedom number faster. Consistency is key, and automation ensures that I am consistently investing without actively managing every transaction.
  2. Regular Financial Check-ins: Schedule regular reviews of your financial goals and investment portfolio. This includes adjusting my strategy as needed, staying flexible to align with changing market conditions and personal circumstances. I also will be scheduling monthly money dates with my hubby so we can be on the same page when it comes to our financial goals.
  3. Emergency Fund Maintenance: This month, I wrote a $12, 000 check for my pension. I had to tap into my emergency fund– so my goal is to increase my emergency savings so it will be back to 6 months -1 year of expenses worth. Maintaining a robust emergency fund to cover unforeseen expenses is so important. This safety net allows me to stay on track with your retirement goals, even in the face of unexpected financial challenges.

Conclusion: Achieving early retirement as a nurse in less than 10 years is an ambitious yet attainable goal. BUT I KNOW I CAN DO IT!

By strategically investing in real estate, dividend-paying stocks, side businesses, and maximizing tax-advantaged accounts, I can build a diversified and resilient retirement portfolio. Combine these investments with disciplined habits, I know I will be well on my way to enjoying the fruits of my labor sooner than I might think.

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