2021-11-17 – Shreveport, LA – With over 10 years of nursing experience, Janee Clay of Wealthy Nurse Janee understands the mental and physical stress nurses work through every day. Her mission became to improve the lives of nurses. Feeling little progress from professional nursing organizations, she knew nurses needed more. That’s when she developed an interest in investing and finance. After delving into many books, courses, and programs, she learned much more than she originally intended, and she knew she needed to share the knowledge with her fellow nurses so they could develop the security and freedom that comes with wealth.
“Nurses are some of the hardest working people,” says Janee. “However, no matter how hard they work, they don’t get wealthy by being a nurse alone. We are told not to go into our profession because of money, but that doesn’t mean we shouldn’t care about it. Nurses deserve to know how to invest and build wealth. Nurses care so much for other people, sometimes they forget about themselves. I’m here to help them remember to take care of themselves and their futures.”
Janee first started sharing her journey and knowledge on social media as Wealthy Nurse Janee, but she realized social media simply would not truly make an impact. She began to mentor fellow nurses and developed her Wealthy Nurse Framework to help nurses build wealth. Janee gives an overview of her Wealthy Nurse Framework in these 5 steps:
Step 1: Developing the Wealth Mindset
Developing a wealth mindset is the foundational step to wealth creation. Mindset is integral to every following step, yet it’s easily overlooked. Most people developed a mindset based on what their families and friends told them when they were young. If a person was not surrounded by wealthy people they probably did not develop a wealth mindset. Think about the things a person may have been taught about money and the way they view the rich.
Many people wonder if wealthy people are just trust-fund babies who had everything handed to them on a platter. Or people think the wealthy had to work too hard and sacrifice their health or happiness to achieve wealth. Often people wonder why they work so hard but still have not become wealthy?
These mental blocks will make a person’s wealth journey much more difficult or even impossible. They need to learn to identify these negative thoughts and reframe them to the positive.
Step 2: Adopting positive financial habits
The next step is developing good money habits. In general, people know they should be saving and avoiding debt when possible, but they also know they should be eating right and exercising. Just because someone knows something does not mean they are doing it. The easiest way to make sure they are taking care of their future self is to pay themselves first. That means they take money out of their paycheck for savings and investments before spending on needs and wants. Even if they can only start with a very small amount, developing the habit is what is important.
Step 3: Investing in money-making assets
People should take the money they are saving and put it into investments to make more money. What kind of investment will depend on their goals (short and long term), ability to risk, and confidence in the asset. They should always invest in their own education first so they can gain confidence and understand what they are investing in.
Step 4: Building Multiple income streams
Nurses generally have good job security. However, the events of 2020 certainly showed nurses’ work is not guaranteed. Just like diversity reduces risk in investing, it also does with income. Additionally, nurses should be finding passive income streams to help supplement their income until it can completely replace their active income.
Step 5: Reinvest and Compound
After increasing income, the fastest way to build wealth is to take additional income and reinvest it. The more money available to invest, the faster it can grow. Beware lifestyle creep which is what usually happens. As income increases, the default is to also increase spending. A clever Wealthy Nurse will wait until passive income can support additional spending.
Bonus: Find a mentor
Finding a mentor for a personal wealth journey will make it faster and easier. Compare having someone give directions, buying a map, buying a GPS, or having someone in the passenger seat telling someone exactly how to get there. A mentor not only shows the way, but they are also there to hold a person accountable to keep them moving forward even when they feel lost or scared.
Knowing how beneficial a mentor is, Janee has launched her Wealthy Nurse Preceptorship, a group for highly motivated nurses wanting to build wealth with direct access and coaching with Wealthy Nurse Janee.