Can nurses live a luxurious life?

Nurses General Nursing

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Hello,

I live in NY and I plan on being a RN and getting a bachelors degree. The majority of answers I've seen on this topic is "it's not about the money" etc. I would never take a job for the money bc I know I'd end up hating and regretting it. However, is it possible as a nurse to live a luxurious life where you can afford nice things? Thanks in advance for the answers.

Sure we can if we win the Lotto or inherit a bunch of money.

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As the self-appointed Negative Nancy here on AN when it comes to $$$, I will give you some wisdom (since you asked).

* Many goods society deems "luxurious" are actually depreciating assets. You can have almost anything you want if you are willing to work for hours to pay for it. But the things you own will end up owning you.

* Start a retirement plan ASAP and contribute to it regularly. Ask yourself everyday if you want to work full-time when you're 70. If not, sock $$$ away in the bank every single month. You 70 year-old self will thank you.

* If you have to buy it on credit or take a loan out for anything but a house, school, or a car, you can't afford it. Don't finance it!

*I borrowed $$$ in 2005 to go to school. It took me 6 years to pay it back and I had substantial help from my parents. Loans will cripple you and you often do not make the kind of money you borrow in the first place. If you can help it, don't do it!

*Many employers DO NOT offer overtime since they are trying to stay under budget. Do not take a job assuming there will be plentiful overtime to pay bills.

*Zero in on your "fun money goals" and set aside money for this so you aren't stressed when it comes time to pay it. You will be less stressed if your "luxuries" do not send you into financial disarray. My first vacation in 5 years was to a resort and it was a package I could afford. I was much less stressed planning for it, putting aside the money, and then actually enjoying it. I haven't gone on a proper vacation in 2 years but I am also working less now and had to adjust spending.

*You do not want to be the person stressed out or counting on some "windfall" to finance decisions you have already made. I worked with a girl who is lovely but was running herself into the ground to advocate for a raise because she had already booked an expensive trip. I can't imagine the stress she felt.

*There will be enough stressful occasions like medical bills, vet bills, emergency savings you need for your car repairs. A greater luxury to me is having the money to pay for events like these so that I do not wipe out my bank account every time it happens. I have a small house and a used car. I shop at Family Dollar. I wear clothes on sale and have no-name bags and shoes. That's not going to make or break me. But being able to pay my daughter's medical bills will make or break me. I also don't want to work until I'm 70 if I can help it.

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Specializes in OB.
I LOLed at "luxurious." Can I get a definition, please?

While I'm not one to care about having "nice" things, per se, I do like to have some quality in my life for the things that matter. As a nurse, I can repair my car when I need to, I always have a decent pair of running shoes, and I can take a nice vacation every couple years with some planning, get a massage every now and then, etc. *And* when I'm bummed that I don't have a mansion, a pony, and a private jet, I simply remember that I'm too tired to enjoy those things anyway.

I LOL'd too, seeing the title made me think of that bizarre thread a while back where the poster urged nurses to oil their flowing locks of hair.

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Specializes in Psych, Peds, Education, Infection Control.
I LOL'd too, seeing the title made me think of that bizarre thread a while back where the poster urged nurses to oil their flowing locks of hair.

My hair gets oily on its own...but it's too short to flow. Maybe that's why I'm not rich.

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Specializes in Psych, Peds, Education, Infection Control.

Luxury, as many have said, is relative.

My best friend, who works at Home Depot, and is helping to raise her four young nieces, views my ability to live in an urban apartment with no roommates and pay my bills as luxury. I work at the lower-paying end of the spectrum (free-standing psych facilities do not pull in the big bucks; 'tis the way of the world). I pay entirely more than I'd like to in rent, but a great deal for the area I live in. I've got grad school bills and a car payment, so I don't have money to jet around the world - but I'm comfortable. It's good enough for me...but, really, you have to look at what's important to you. If pulling down six figures and driving a Jaguar instead of a Nissan is what'll make you happy, then a.) nursing may not be the way or b.) you may have to accept that life must wait until you've done your time and worked your way up the ladder, aka CRNA. The point OP and others have made is valid - will you be happy doing a job just for the money so you can have nice things? Or will you not be happy with those things because you're miserable at work? That's a decision one can only make for themselves. I've got the Nissan for now, though maybe when I finish this MSN (and pay it off!) then I can upgrade. :)

Or...y'know, marry that surgeon.

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Depends on how you spend your money. If luxury to you is the glam party lifestyle you see on tv at the trendiest clubs drinking $15 cocktails multiple days a week, living in amazing apartments, getting manis/pedis/wax every 2 weeks and buying designer, you're probably going to find your salary insufficient to handle that, especially if you're in debt from school. Nurses who do that either have another source of income, or they're in way more debt than you know.

Ya gotta budget. Always.

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Best thing you can do is forget this luxury malarkey and save and invest your money wisely; spend it carefully.

I'm with Sour Lemon about the basic definiton of luxury.

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Specializes in Hospice.

Interesting the different ways people define luxury!

I'm not sure my life in anyway could qualify as "luxurious" but nursing has allowed me to very comfortably live working a 32 hour a week position so that I'm not spending my entire life at work (unless it's a crazy week).

I live in a low cost of living area across the street from a quiet lake. I have all my basic needs met, don't have debt and am able to save for retirement. I drive a reliable vehicle. I don't live paycheck to paycheck. I was able to pay for my BSN along with the way without accruing loans while working as an ASN. So, while I'm guessing most people wouldn't view this as luxurious - I'm quite satisfied with my lifestyle as a nurse.

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Specializes in ICU, LTACH, Internal Medicine.

We fly in Europe (and everywhere else) two or three times a year for a few days. Is it counted?

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It depends on where you work. I know in Canada you're looking at $35 an hour and if you get full time you're living decently well if you don't mind long shifts.

Trying to become an NP and if you start your own practice, you're looking at upper middle class.

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Specializes in PICU.

I love my one bed-room high rise. I take a couple trips a year, will go out to a nice restaurant a few times a year. I think that is luxury. For a friend of mine her definition of luxury is owning a home in the suburbs and spending every weekend fixing, remodeling, etc. She loves being a homeowner and spending her income on updateing her home and yard. She does have a nice home and yard. She feels she has it made, I feel I have it made.

Luxury is in the eye of the beholder.

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I would say I live pretty luxiourously. I was used to living in a mobile home though. Me and my husband built a beautiful house. The House note isn't cheap but it's OURS. We have a baby and he works full time and I work part time. We live in MS though so cost of living isn't as high. I drive a newer Toyota Highlander. Everything I've ever dreamed of has been accomplished in time. Before I got married though, I saved a TON of money. I am a big money saver. I have def been blessed abundantly and I love my life. I have bills but who doesn't. We try not create too many new ones though lol

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