Financial Planning

Looking for a Financial Advisor for Travel Nurses?

By  Brian Thorp

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Are you a travel nurse? Or thinking about becoming one? A financial advisor who understands the unique needs of travel nurses can help you make smarter money moves throughout your career.

You’ll likely find dozens of financial advisors in your hometown well-suited to help you reach your money goals with a personalized plan. But it may be more difficult to find a financial advisor with specialist knowledge and insights to optimize your finances, compensation plan, and make the most of tax deductions and strategies available to you as a travel nurse.

Fortunately, many financial advisors offer virtual services so you can meet online no matter where your job takes you, whether you’re working in a hospital in Hawaii or an outpatient facility in Fort Lauderdale. This means you can choose to hire a financial advisor who lives hundreds of miles away from your latest location if you decide their knowledge about financial planning for nurses who choose travel nursing as a career could help you achieve better investing outcomes.


👩‍⚕️ Smart Money Insights for Travel Nurses

This page is organized into sections to help you quickly find the information you need and get answers to your questions:

  1. Q&A with Financial Advisors for Travel Nurses
  2. Get Answers to Your Questions about Financial Planning for Travel Nurses
  3. Browse Related Articles

– Financial Advisors for Travel Nurses –

Three Questions with Eric Simonson, CFP®, CRPC®, CLTC®

We asked Minneapolis-based financial advisor Eric Simonson to answer three questions for travel nurses (and people considering a travel nursing career) who want to save and invest for their future.

Q: How does financial planning differ for travel nurses vs. people who work/live in their hometown?

Eric: It can be easier to ‘overspend’ as a travel nurse since you don’t have a consistent routine and it’s harder to make dinner on a set schedule, etc. Also, income is usually more variable for travel nurses and because of both of these factors, it makes budgeting a much bigger priority. For most travel nurses it is challenging, but very important, to “save first” and then spend second rather than the other way around.

Q: If I own my house in my hometown, what options should I consider before becoming a travel nurse? 

Eric: Is your home a good candidate for a rental property? Can this provide you with potential supplemental income? Do you want to be responsible for maintaining the rental or hiring someone to do it for you? If you do not want to rent it out, is your home ready to be sold? Will you have to put work into it to sell it? Will you want to keep the property for a little while, in case you decide you do not like being a travel nurse? To have it as a ‘fall back’ option?

Get to Know Eric:

View Eric’s profile page on Wealthtender or visit his website to learn more.

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Q: What questions should people consider asking a financial advisor before becoming a travel nurse?

Eric: What credit card should I be using to provide the best travel protection? How can I find flight deals or use credit card points to help me travel between destinations? What travel insurance should I consider? How will my taxes work? Do I need to file in each location I live in?


Three Questions with Will Salazar

We asked Boston-based financial advisor Will Salazar to answer three questions for nurses (and people considering a nursing career) who want to save and invest for their future.

Q: What are unique financial challenges you frequently see among nurses and how do you help them overcome them?

Will: There are three unique challenges nurses face.

The first is that generally people in caretaking positions, nurses/doctors/therapists, are not great at taking care of themselves. Being so focused on others is wonderful, yet it is hard to take care of others if you are not taking care of yourself.

The second is bandwidth. Nurses can and do work odd hours. Shift work can be unpredictable, that 8 hour day could turn into 12 easily with a few emergencies and call offs.

The third is a lack of educational resources for nurses specifically that understand the first two challenges. I get that after one or a few 12-hour shifts in a row or every other day, the last thing you want to do is talk about your financial situation. Couple that with a lack of resources and it can be hard to find a place to even start. Nurses want that information but are just unsure where to go for it. 

How I help nurses is by being that resource in a relatable way, approaching conversations with a clear understanding, empathy, and a lack of judgment.

A prospective client asked me once “Will you be mad at me if I have credit card debt?” To which I replied, “Why would I be mad? I have some credit card debt myself.”

I do my best to speak plainly and explain simply at first, then as our relationship grows, introduce more complex ideas. It is important to have trust and mutual respect. So meeting them where they are at is extremely important.  Another way I help is being an accountability partner, as with all of my clients, we set up goals to work towards. To that point, when we talk about goals, I remind them that “You are the hero of this story, I am your trusty sidekick.

Q: What questions should nurses ask financial advisors to determine if they truly understand their unique needs?

Will: There are four asks I highly recommend. This will help you determine if you can build trust while working with a financial professional. It will also help determine if you like them or not. Ask about “their why”.

Why do they help nurses specifically?

Ask about their most embarrassing financial decision. A good professional will share it and be honest about it.

Ask if they live by the advice they give? If they do, then it shows conviction in what they do. While it may not make sense for you, at least they practice what they preach.

Q: For nurses who aren’t sure whether or not they should hire a financial advisor, what guidance can you provide to help them make a more informed and educated decision?

Will: If you are unsure, it may be helpful to speak to a few advisors. It will give you a good idea if hiring one is the right decision for you. You may need a money coach or another type of financial professional.  These conversations can provide you with value as you may pick up useful pieces of information or concepts that apply to your situation.

As for guidance to make informed and educated decisions, I always recommend two books. The first is The Index Card by Harold Pollack and Helaine Olen. It is a very straightforward, easy read. The concept of the book is that “the best financial advice for most people would fit on an index card.” The other book is The Millionaire Next Door. The biggest takeaway from this book is that there are three common traits to those interviewed in the book. 1. They had a plan. 2. They stuck to their plan. 3. They were self-accountable to the plan.


🙋‍♀️ Have Questions About Financial Planning for Travel Nurses?




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About the Author
Brian Thorp, Founder and CEO of Wealthtender profile picture

Brian Thorp

Founder and CEO, Wealthtender

Brian and his wife live in Texas, enjoying the diversity of Houston and the vibrancy of Austin.

With over 25 years in the financial services industry, Brian is applying his experience and passion at Wealthtender to help more people enjoy life with less money stress.

Connect with Brian on LinkedIn

Disclaimer: In order to make Wealthtender free for our readers, we earn money from advertisers including financial professionals and firms that pay to be featured on our platform. This creates a natural conflict of interest when we favor promotion of our clients over other professionals and firms not featured on Wealthtender. Learn how we operate with integrity to earn your trust.

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