Achieving Financial Independence as a Nurse: Kathy Retardo's Journey to Coast FI

02/07/24 • 30 min

In this episode, host Pamela Miller introduces special guest Kathy Retardo, an RN specializing in pediatrics with over 25 years of experience. Kathy shares her journey to achieving Coast Fi status, which allows for financial independence without necessarily retiring early. She discusses her passion for both healthcare and financial well-being and how she discovered the FIRE movement. Kathy also highlights her love for travel and volunteering in various countries. Tune in to gain insights and inspiration on achieving financial wellness as a nurse.

Read Kathy's article on Coast Fi here. You can check out her podcast, the Global Nurse, and find her on Instagram.

Hosted on Acast. See acast.com/privacy for more information.

Read Kathy's article on Coast Fi here. You can check out her podcast, the Global Nurse, and find her on Instagram.

Hosted on Acast. See acast.com/privacy for more information.

Previous Episode

Finding Balance: Supplementing Your Income as a Nurse with Side Hustles

In this episode of Money Wise RN, I discuss the topic of side hustles for nurses. I start by acknowledging that many nursing blogs recommend picking up extra shifts as a side hustle, but I question whether that truly qualifies as a side hustle or just working more at the same job.

I then dive into six side hustle options that nurses can consider.

Freelance Writing: Nurses can leverage their healthcare experience to write for healthcare blogs, magazines, websites, and academic journals. The average hourly wage for healthcare writers is $46.
Online Tutoring: Nurses can tutor nursing students or students in other healthcare-related fields. They can also tutor high school or college students in subjects like microbiology. The national hourly wage for nursing tutors is approximately $27.
CPR Instructor: Nurses can work as CPR instructors for businesses, communities, social groups, and events. They can complete the CPR certification process through the American Red Cross, with an average hourly pay of $37.
Medical Transcription: Nurses with experience in medical terminology can transcribe medical reports or dictations into digital documents. The average hourly wage for medical transcriptionists is $18.20.
Immunization Nurse: The demand for immunization nurses has increased during the pandemic. Nurses can administer vaccines in patients' homes, workplaces, businesses, or clinics. The national average hourly wage for immunization nurses is approximately $39.
Ear Piercing: Nurses can work from home or at companies like Rowan or Blow Mall USA, offering ear piercing services. The average hourly pay is $28 plus tips.

I also briefly mention my personal experience with running an Etsy store, where I sell study guides and practice exams for nursing students. While it requires time and effort, it has provided me with passive income.

I highlight the benefits of having a side hustle, such as financial security, flexibility, and the opportunity to use skills in new and creative ways. However, I also caution against overextending oneself and risking burnout.

In conclusion, I encourage nurses to explore side hustles that align with their skills, interests, and schedules. With creativity and hard work, nurses can find a side hustle that brings both financial security and personal fulfillment.

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Next Episode

Protect Yourself from Healthcare Job Scams: A Nurse's Guide

In this episode of MoneywiseRN, we dive into the alarming prevalence of job scams in the healthcare sector, especially during the COVID-19 pandemic. Nurses are particularly vulnerable to these scams, with scammers preying on them with enticing job offers that are too good to be true. We explore the reasons why nurses are targeted, what scammers are looking for, and how you can protect yourself. Our expert guests share their experiences and insights on how to spot red flags, conduct thorough research, and safeguard your personal information. Join us for this crucial episode to learn how to stay safe and protect yourself from job scams. Don't miss out on this essential information, tune in now! #MoneywiseRN #nurses #registerednurse #NurseFinance #JobScams #ProtectYourself #StaySafe #personalfinance

Hosted on Acast. See acast.com/privacy for more information.