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White Coat Investor Podcast
MtoM #199: Nurse Practitioner Becomes a Millionaire by Doing Locums and Finance 101: Trading
Dec 2, 2024
Sophia, a family nurse practitioner, achieved millionaire status by embracing locum tenens work, enjoying travel, flexibility, and earning nearly double her previous pay. She shares her journey of strategic investments, including stocks and real estate, which paved the way to financial independence. The discussion highlights the benefits of locum tenens for balancing career and lifestyle while also diving into the risks of day trading, emphasizing the importance of realistic investment strategies.
28:47
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Quick takeaways
- Working as a locum tenens nurse practitioner offers higher pay and career flexibility, allowing substantial savings and enhanced lifestyle opportunities.
- Strategic financial planning and investment diversification, including stocks and real estate, are essential for achieving millionaire status in healthcare.
Deep dives
Success Through Locum Tenens
Working as a locum tenens nurse practitioner can be a highly lucrative career choice, offering significant financial benefits compared to traditional permanent positions. Locum tenens typically provides higher pay, often nearly double what one would earn in a low-paying state, due to the flexible work opportunities it presents. For instance, one nurse practitioner shared that she makes $200,000 annually while only working six months a year, allowing her to save substantially by eliminating housing and travel expenses. This unique work arrangement allows for enhanced control over one’s career path, enabling practitioners to choose their locations and schedules and focus on their interests while securing their financial future.
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Discover
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Listen to the best highlights from the podcasts you love and dive into the full episode