In this episode, we delve into the often-overlooked topic of financial literacy and empowerment in nursing.
Money talks are typically kept behind closed curtains, but not on our watch. In episode 5 of our podcast, we’re joined by a seasoned voice in the realm of finance and nursing, Yrlande Simon. Yrlande, a retired nurse turned wealth care coach, brings her pool of knowledge to our table, offering an invigorating discussion about the importance of credit management, insurance, and the critical role they play in securing the financial health of nurses.
We tackle the hard-hitting realities of financial complexities in hospital settings, the lack of nurse representation in decision-making, and the dire need for nurses to step into roles of leadership and legislation to carve a future that ensures fair outcomes for all.
In a system where hospitals are driven by trustees without a bedside perspective, Yrlande underlines the necessity of mentorship in guiding new nurses through the fiscal maze. Together, we explore the intricacies of 401Ks, pension plans, and the perils and possibilities inherent in stock market investments.
This episode is not just about safeguarding your future but maximizing your present. We emphasize living life with zest alongside wise wealth management, concluding with Yrlande offering substantial, unbiased financial guidance—no strings attached.
So, to all the hardworking nurses out there seeking to stitch up their financial wounds while they care for others, this one's for you. Join us as we navigate through these crucial conversations with Yrlande Simon. Stay empowered, stay informed, and continue living well until next time.
Yrlande was a panelist at the Health & Wealth Expo: A Virtual Summit on March 23rd & 24th, 2024.
You are invited to secure your All Access Pass for the Health and Wealth Expo: A Virtual Summit at https://healthandwealthsummit2024.com/all-access-pass
Gain exclusive access to all the insightful sessions. Don't miss out on the opportunity to watch the replays and unlock valuable insights from industry experts. Get your All Access Pass today and elevate your knowledge virtually!
00:00 Transitioned from nursing to financial coaching for retirement.
04:53 Post-COVID wealth management shift and concerns.
06:47 Nurses lack financial education, rely on employers.
10:22 Nurses need leadership roles for fair outcomes.
15:56 Pension plans less popular, replaced by 401K.
19:01 401Ks offer control and security for retirement.
22:21 Annuity options: fixed, variable, and indexing explained.
25:38 Prioritize paying off high-interest credit card debt.
26:40 Manage credit, reduce usage, repay loans patiently. Be vigilant about job compensation.
31:15 Get insurance beyond work, protect yourself properly.
35:48 Lack of understanding led to denied benefits.
38:22 Broaden knowledge, seek financial literacy, and inquiry.
42:04 Assess job benefits, financial security, and insurance.
44:33 Accessible on social media platforms for education.
