Can you live a luxury lifestyle as a nurse?

Published

My question is towards nurses that have been in the field for couple of years. I was wondering can you life a nice luxury lifestyle as a nurse? My definition of luxury would perhaps revolve around the ability to own a large 5 bedroom house, the ability to drive a luxury vehicle like BMW or Mercedes Benz, and the ability to take vacations every year perhaps to a different country. Is this too much to ask for as nurse or this beyond the dreams of most nurses and would single nurses be able to achieve this over married with kids nurses?

Specializes in Peds Medical Floor.

Kinda off topic, but how did you like traveling alone? I want to travel ALL the time, but usually can't find someone who both wants to go and can afford to go. I've thought about going by myself but kinda get nervous at the thought of doing that. How long did you go for? What countries? Did you enjoy it?

Up Vote Up Vote ×
Specializes in MedSurg, OR, Cardiac step down.

You don't strike me as a butt wiping type person. If you are getting into nursing for money, you should run....fast

Up Vote Up Vote ×

I have student loans up the wazooo, so there will be no luxury lifestyle for me.:yeah::bugeyes:

Up Vote Up Vote ×
I wouldn't say i have a luxurious life but i make a good living. I am 28 and I have been a nurse for 6 years, i'm engaged but i live alone. I dont have a 5 bedroom house because that would be a waste of money for someone that lives alone. I have nice apartment though. I do have a lexus (first purchase when i became nurse) and i travel at least twice a year. This year i went to europe by myself (My finance is deployed at the moment). and later this year i have a cruise. I guess it depends on the cost of living and what setting you work in.

Yes, not sure if I replied when this thread first started but the nurses I know living "luxury lifestyles" are either like you or married to engineers, mds, etc. I know a few nurses on my floor that go on vacations overseas and to other places like LA, Los Vegas, NYC, etc, drive high endnew cars. they are all single without kids and little to no student loans or married to a very high earner. I also nurses who are the primary /only bread winners and struggle big time as they have 3-4 kids etc. $50,000 for some people is the life of luxury! esp if they are single without kids. If you do some overtime a few times a month, stay childless and single ( or have a partner that can support themselves!) you can save up enough to buy a bmw, nice apartment/house, marc jacobs' clothing etc in a few years.The key is to remember you must keep up with the OT and job. I know that some kids are making millions off reality tv and other type of jobs but for most 20 somethings $45,000-60,000 is probably the HIGH end for their age range.

Up Vote Up Vote ×
Specializes in OR, Nursing Professional Development.
Kinda off topic, but how did you like traveling alone? I want to travel ALL the time, but usually can't find someone who both wants to go and can afford to go. I've thought about going by myself but kinda get nervous at the thought of doing that. How long did you go for? What countries? Did you enjoy it?

I love traveling solo- it's nice to be able to do what you want when you want without having to compromise with someone else. It's amazing how liberating it can be, and the things you will realize that you can do when there's no one else around to help. There are a few downsides, like hotel rooms costing more without someone to split the bill, and the first few times I ate in the nicer restaurants by myself were a bit awkward. If you want to know more, PM me and I'll send you my website address.

Up Vote Up Vote ×
Specializes in Acute Mental Health.

Uhhhhh, nope unless you're willing to work a lot of OT as in double shifts, don't eat, don't buy nice clothes etc. But, I'm sure you can buy a nice 5 bedroom house (perhaps not in the best neighborhood), buy a used vehicle, and volunteer through a church to help underprivledged in other countries....so yep you probably can! Good luck ;)

Up Vote Up Vote ×

I know nurses start off making 25/hr but don't they get raises after a few years? you dont stay at that salary forever right? is it possible for a nurse to afford a $300,000 dollar home?

Up Vote Up Vote ×
Specializes in Emergency/Cath Lab.

While it might not be luxury, I have a lot of very nice things.

Up Vote Up Vote ×
Specializes in Peds Med/Surg; Peds Skilled Nursing.

I love traveling alone too.... my trip to europe was by myself and one of favorite trips.....met a lot of nice people.

Up Vote Up Vote ×
I know nurses start off making 25/hr but don't they get raises after a few years? you dont stay at that salary forever right? is it possible for a nurse to afford a $300,000 dollar home?

it depends on the area. But you will not make much more than that. Through clinicals, hospital websites etc, I have found that although starting salaries vary widely those for experienced nurses aren't much more. Example 1 hospital new grads started at $28 but the cap for ANY floor nurse was $40 and that was in a hospital with a union where pay was by seniorirty. I think that was for soemthing like 20 years service. Yeah those go up but a nurse with 30 years experience is making $12 more an hour than a brand new nurse. Where I work you start out at about the same but CAP MUCH MUCH LOWER than $40. In nursing raises, IF YOU GET THEM, are things like 50cents or at most $1-2 an hour. seriously.

Up Vote Up Vote ×
Specializes in burn ICU, SICU, ER, Trauma Rapid Response.
I know nurses start off making 25/hr but don't they get raises after a few years? you dont stay at that salary forever right? is it possible for a nurse to afford a $300,000 dollar home?

*** Pretty much no, a nurse can not afford a $300K home. I suppose if you made it a priority and sacraficed everything else in your life, and you could find a banker willing to loan $300K to a person making $40-$60K (unlikely). A normal rule of thumb for what kind of house you can afford is 2-2.5 times your annule income. In my area that means $100K-$150K house. Obviously that is with only one income. A couple working might double that.

Pay scales vary widely by hospital. In my area most nurses never get any raises except the across the board COL increases every employee gets. Usually 1-3% a year (frozen for the last couple years). I make over six figures but I worked my way here, have special skills, work in a very high risk position, and I was lucky to get a position in a non-Magnet, union hospital that is in a fairly high income area but very close to low cost of living area where I live and commute from. In the system I work for there is a clinical ladder and a nurse can achieve merit based raises. That is not true for every hospital.

Up Vote Up Vote ×
Specializes in OB (with a history of cardiac).

Yes, my family and I do enjoy the finer things...

We eat nothing but the finest gourmet meals that Perkins can serve, our children are dressed in nothing but the finest designer clothes that their cousins and various thrift stores no longer wanted. My husband and I have traveled the globe FIRST CLASS...in our brains. We drive a roomy, spacious vehicle with enough room to store our double stroller that we just COULDN'T POSSIBLY pass up...when we saw it on the curbside with the "Free" sign stuck to it. Yes, yes, we do enjoy the finer things, in our quaint, cozy two and a half bedroom home...all 950 square feet of it!

Up Vote Up Vote ×
+ Join the Discussion