Have any nurses invested into other avenues?

Nurses General Nursing

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Specializes in LTC currently.

Hi, I just wanted to know if any nurses have invested their money into anything, such as real estate or have or trying to start a small business to bring in a supplemental income in addition to their nursing income? If so, can you share what you have done or are doing. The reason why I ask is because at the moment we see that the job market is tightening up all around, not in just nursing, and that retirement is looking bleak currently. All comments are highly appreciated.

Specializes in Med/Surg, Ortho, ASC.

My investments go 100% into my 401k, with its matching employer contribution.

Specializes in LTC currently.

Thats great you have an employer that has matching 401k, as i know nurses who employer does not match.

Specializes in Professional Development Specialist.

My employer does not match. So I don't have a 401K. They limit where you can invest to the point where it wasn't a viable option.

We do invest in real estate. Not directly (ie we are not landlords) but through someone we know who privately lends for fix and flips, and through property owned by a group. We also invest our previous 401k money in stocks. We get to actually pick instead of being given a list of mutual funds that are allowed. I started my 401k at the worst time years ago. I bought high and then watched as it monthly dwindled to almost nothing. You can recover over time if the stock eventually recovers. But when the investment firm goes bankrupt your mutual funds becomes worthless or nearly worthless. We have done better on our own.

Specializes in LTC currently.
My employer does not match. So I don't have a 401K. They limit where you can invest to the point where it wasn't a viable option.

We do invest in real estate. Not directly (ie we are not landlords) but through someone we know who privately lends for fix and flips, and through property owned by a group.

Yes, that sounds great, my mom is actually looking to invest into real estate. Property in the area that we live in are pretty cheap. We have newer apartment buildings in our neighboorhood that are being foreclosed. For instance a building down the street on my block has been seized by the bank, its a wonderful two flat. The bank wants 40,000 for the building which isn't bad at all. When my mom called to inquire about it, they had three prospective offers that were a little bit less than 40,000. The man quoted high 30,000s. For a new building and the amount of sq.ft, rent runs in this area $1200 per month for both the first and second floor, and the basement area high 900s. With stable tenants, a property like that can bring in a positive cashflow in about two years.

Specializes in Med-Surg.

$40,000 for a building is very cheap!

That sounds like a great investment!!!

Specializes in LTC currently.
$40,000 for a building is very cheap!

That sounds like a great investment!!!

yes, it is real cheap. When my mom called about the property, we were astonished when the guy said how much the building were. We couldnt believe it. Property is going for hardly nothing in this area nowadays. Its best to invest at the way the economy is going. Always great to have that extra income. Our landlord own 13 bulildings in the chicagoland area and this man does not even have a college education. He started off working at a factory, taking care of his entire family, he saved his money and bought two pieces of property at once, in which the bank gave him a deal. From there it was open game. He fixed his units, and maximized his profit/return, and from there he was able to use the buildings income to buy another and so on. Basically the first two buidings paid for the third and the others paid for the others. Now he just sits back and collect rent and put his daughter through pharmacy school. I admire him.

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