How Nurses Get Started Investing Even If You Don’t Know How To Decipher Your Current Investment Accounts

tiny training Jan 23, 2023

Money For Nurses

Tiny Training Investing Series Video #1 (Part 2)

Hi, I'm Angel Mathis. I am the creator and founder of Nurses Investing For Wealth. I’ve been a nurse for 20 years and a nurse practitioner for 15 years! I’m also a nurse millionaire who has had to learn how to use my nursing money the hard way. I’ve made some expensive mistakes. I’m here to make it much easier for you.

I'm super excited that you're here! 

You being here means that you are a nurse ready to 

  • End money confusion
  • End money stress
  • Get unstuck from your job
  • Create financial freedom. 

I’m here for all of this! I am here to help you get started right now. So let's go.

First of all, I do want to say that I'm out camping–doing my favorite thing. One of the best things that I have in my life since being financially free is that I can do what I want, when I want to. I can work when I want to. 

And that's what I want for you too. It's really important to me that you get there. 


Where do I put excess money?

The first thing that nurses always come to me asking is, “Where do I put excess money?”

That's a great question, and I am here to answer it. The problem is, usually nurses are asking that question way too soon, because they don't know how to invest yet. 

You're going to change that right now. We're going to change it. 

So before you come asking, Where do I put excess money, let's teach you how to invest. 

I'm gonna give you three short lessons that are packed full with helpful information that you can put into action right now. You can start learning to invest and finally get an answer to your question, “Where do I put my excess money?” 


First thing first, how do you invest your money? 

Stashing your money away in an account without knowing how to invest is like taking an aspirin to prevent a headache. Right collection of ideas – wrong order. 

If you hear 1 thing during this series, hear this: A retirement account (ex. 403b, 401k, IRA)  is not investing. 

Why? Because these are bank accounts that you get tax discounts on. You can deposit into them and not be invested! I know, crazy, right? Why doesn’t anyone teach us this??? I learned the hard way because I had thousands of dollars sitting in cash (not stocks or bonds) for years… YEARS!!! I lost out. I don’t want this to happen to you. 

If you’ve never knowledgeably picked out your investments inside these accounts, I guarantee you that you, too, are 

  1. losing money and 
  2. taking risks that you aren’t comfortable with.

Inside the Self-Study Guide, The Transformational Nurse Money Ladder: How To Turn Your Nursing Knowledge Into Money Mastery, you learned the perfect place to use your money to grow your wealth the fastest. (Don't have it? Download it below or on your Tiny Training Concierge Page.)

I know from my experience teaching Ultimate Nurse Investing, Live Trainings, and Group Mentoring Sessions, that this is confusing. This is why I’m bringing you this Tiny Training Investing Series. In this series, I will show you exactly how to work through Rungs 6 & 7. This way you will learn what your money is invested in and if that's right or not. 

Before we go any further, let’s agree that your success depends on you doing the work and asking the right questions at the right time.

The right questions to be asking now include:

  • When am I going to need this money?
  • How much money do I need?

Do you know what question isn’t important to ask at this time?

  • What kind of account should I be using?

That will come...later...

Let’s start from the VERY beginning. I urge you to avoid any temptation to skip past this work. If you do, you will end up confused and overwhelmed and in a perpetual cycle of feeling worried and stressed about money.

Step 1: Login to your brokerage. 

First, you're going to open up wherever your retirement accounts are. 

That could be 

  • Vanguard
  • Fidelity
  • TD AmeriTrade
  • Transamerica
  • So many others....

These are called brokerages. 

The word brokerage is just financial jargon meaning any place where you stash money into long term investment accounts. Brokerages are like banks. They're places where you put your money for investing. So whatever place you have your retirement savings–your investment savings is a brokerage. 

1️⃣ Go to the brokerage portal on the website> login. 

A lot of people can't even get to that step yet. But you can, because you’re here putting in the effort! ✅


Step 2: Locate your accounts

Now that you’re inside your brokerage's online portal, find what accounts you have. 

Mistake #1: It’s a common mistake made by nurses to believe that these accounts are investments. They are not. These are the accounts that hold your investments. The accounts themselves are not investments.

The most common accounts for holding your investments:

  • IRAs
  • 403(b)s*
  • 401(k)s*
  • Health Savings Accounts
  • Personal savings/Brokerage accounts

There are many different kinds of investment accounts. This is a sampling of the most popular ones. You may find something else! If you do, be sure to add it to your list.

*Nurses ask all the time what is the difference between a 403(b) and 401(k)? It’s very simple. 401(k) accounts are offered by for-profit companies and 403(b) accounts are offered by non-profit companies.  Otherwise they work the same!

Write the accounts you find down in a list. 


Step 3: Look inside of your accounts to find your investments 

Now that you’ve found your accounts, click into each one of them. This is where you will see your investment holdings! This will look like a list of letters and a bunch of words that probably don’t make any sense. These are the names of your current investments. 

Write them down.

Mistake #2: Do not be fooled when you look at your list of investments, believing, ‘I have my money invested.’ What you need to know is if these investments are working for you. That is what we're going to get into more in the next video. 


Here's what you learned today to get started investing for financial independence

  1. Put these questions on pause: “Where do I put my excess money?” “What kind of account should I open?” Prioritize learning to invest first.
  2. Log into your brokerage(s). All of them. Every single account that could have investments.
  3. Once you get logged in, review what accounts you have. Ex) IRAs, 403(b)s, 401(k)s. These are accounts NOT investments.
  4. Click into each of your accounts to see the names of the investment holdings you currently own.  

Write down

  1. what accounts you find
  2. what investments you find inside your accounts (#1).

Keep this info handy because you're going to be using it in the next video when learning how to interpret what your investments mean. 

❓Post your questions in the FB group (best) or send them to me by email or Instagram DMs.  

Thanks for being here and I'll see you next time.  👋🏻


If you landed on this page through a random internet search? Hi! Welcome! 👋🏻

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