This Nurse is a 7 Figure Nurse Investor- Ep. 78
Danielle Brown is a Labor and Delivery Nurse of 13 years. In 2016, life kicked her in the face, Through that experience, she decided that she NEVER WANTED TO BE BROKE AGAIN!! As a Travel Nurse, she decided to take an assignment in CA to get out of debt fast. In CA, she was introduced to Uncle Dave, and as they say; from there, the rest was history! She submitted her last student loan payment on 4/28/2017 and was officially DEBT FREE (excluding her house). From there, she was set on FIRE! Through budgeting, intentional spending, saving, and investing she has amassed over half-million-dollar net worth. She is now The 7 Figure Nurse Investor and founder of the 7 Figure Academy where she teaches budgeting and saving as well as an in-depth look at employer retirement accounts and the importance of contributing. She’s not only passionate about nursing, but also investing! WATCH HER ON FIRE!
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TRANSCRIPT:
Naseema McElroy: [00:00:00] All right, Nurses on Fire. Now this is a super special episode because I have my very good friend, Danielle Brown, joining us. And Danielle was a well former coworker, kind of heated about that. Cause she should still be working with me. That's a whole another story though, but we worked together for several years and she saw my journey from the beginning, I saw her journey from the beginning and now she is a Seven Figure Nurse Investor so hey Danielle, thanks for joining me, girl.
Danielle Brown: [00:00:35] Hey girl, thank you. That was such a beautiful introduction.
Naseema McElroy: [00:00:40] Of course, it does not even do justice to how much should we have gone through together?
Where we have seen each other grow from, I mean, you done seen the kids born and grow up, like all that stuff. So, yeah. Just give everybody like a little bit of background, just about your nursing trajectory in , then we'll talk about all the money stuff.
Danielle Brown: [00:01:03] All right. So , I graduated nursing school in 2007 as a second degree nurse. And , I started my career in South Florida and I worked there for six years, but in nursing school, like I always had an itch to travel, but you know, like, You know, my mom's an immigrant from Jamaica and you know, it was always, you know, you find a place, you settle down and you just work there. So when I decided to travel, like I quit my job and everything.
And like a week before I was gonna leave, I was like, okay, mommy, I'm going to go travel. And she was like, no, you can't do that. You can't quit your job. I was like, I already did. And I, and I'm going to drive cross country. And she was like, Okay.
Naseema McElroy: [00:01:46] I think that's hilarious. Cause you know, if you would've told her before you did it, she would have talked to you out of it.
Danielle Brown: [00:01:51] Yeah, absolutely. Like I'm not like a dip in the toe kind of person. I'm kind of just like, we just don't jump in. Right.
Naseema McElroy: [00:01:59] Yes exactly.
Danielle Brown: [00:02:00] So , I traveled before to Atlanta. I did a contract in Miami, was in Bakersfield for a year. I went to Colorado for a little while, and then I ended back up in the Bay. So from 2013 to 2016 , I traveled and I was supposed to be in the Bay about six months and four years ago later, here we are.
Naseema McElroy: [00:02:22] And I remember I was like, Do not leave Danielle. I was like, I was here when you first got it. I was like, do not leave you stay here and work.
Danielle Brown: [00:02:31] Yeah. You were like, just, you can do it. Just push through it. Even the other day. You were like, how long have you been here? And I was like four years girl. And you're like, dog.
I ain't think you were going to make it, I was like me either.
Naseema McElroy: [00:02:44] So let's talk about why you decided to stay in the Bay. And if you guys don't know what the Bay is, it's the San Francisco Bay area.
Danielle Brown: [00:02:51] Yes. So , I mean, It was just different. It was different. Definitely. There was a lots of, , financial thoughts process and it was definitely a huge motivating factor in staying. You know, it's just a different trajectory. It's like a different lifestyle and you know, it's a different mindset here and it just made sense.
Naseema McElroy: [00:03:19] So numbers wise in South Florida, how much were you making versus when you first started working out here?
Danielle Brown: [00:03:25] So when I first started as a new grad, I made $23.50.
Then , like right before I came here, I was toying with the idea of working there. And , I think the rate was like $31 something. And I was like, yeah, no, but like I have. 10 years. So what's the rate for 10 years. And he was like, nah, six months or like 10 years, like this is the rate. And I'm like, Oh, okay.
Okay. Okay, cool. Cool. All right. Got it. So when I came here and I applied, you know where we're at and I got that rate. It was, it was a no brainer.
Naseema McElroy: [00:04:20] Let's say it was about triple that
Danielle Brown: [00:04:26] the shift diff alone was like half my hourly rate.
Naseema McElroy: [00:04:31] Exactly. Exactly. Like for real, like for a, and if you need a refresher, I'm a labor delivery nurse. Danielle is a labor and delivery nurse. So we get a little bit of specialty pay, but, you know, Yes. Still.
Danielle Brown: [00:04:46] All right. You can South Florida too.
Naseema McElroy: [00:04:48] That was the
Danielle Brown: [00:04:50] $1 that one dollar. And I wore that $1 with pride. Yo, I'm a specialty nurse. I get a dollar. That's the 2350. I'll say it would've been $22.50.
Naseema McElroy: [00:05:03] So when I met Danielle, I was starting my journey financially, like trying to figure out what I was going to do, struggling as a single mom and like just trying to put things together. So just like with. Any other of my coworkers, like anytime I learned something, I'd be like, Ooh, you should do this. Oh, like, this is what I learned.
Look, see what I did. And she'll be like, bet. But like, everybody else would be like, Oh yeah, that's so nice. Huh. And then just continue shopping online at target and Nordstrom. And then y'all would be like, Come back the next day. Like, Hey girl, you know, I did that X, Y, and Z, and this is what happened. And so I'm like, cool.
So when I decided to start my coaching program, I was like, Danielle, you gotta be in my coaching program. So she was the one that helped me build out my coaching program. She was my muse. Like she was a person that I wanted everybody to be like. And so I really shaped it around her.
And , Long story short, she's been able to do some phenomenal things financially. Absolutely. Yeah. So go ahead. Talk to me about that journey from your point of
Danielle Brown: [00:06:08] view. So it's funny because , I met Shamir and I used to use the ride, like go places together, whatever. And she always had like Dave Ramsey and it was, you know, like cool or whatever.
But then when we started getting cool, like, you were like, you know, debt free scream, everyday millionaire. And it was just like the driving force. Cause you were like living that life, whole heartedly, like, you know, you heat up that food in the microwave, you know what I'm saying? Then I like was inspired by your fire and it got me on fire and I.
Ended up , when, and it's funny because I can't even remember. I was so like fed up with being in debt, fed up of my student loans, especially the student loans was what got it. Like the credit card was the one thing, but the student loans, it just felt so overwhelming. And. You know, when it was like, it's a possibility to pay Sallie Mae off.
Like you can get Salli out chill life. I was like, okay, like I am, I am here for it. So, you know, I always was a budgeter, but you know, it, wasn't an intentional budget and that's why, you know, when you, you came out with the financial, the intentional that resonated with me so much. So now I'm doing intentional budgets and now I'm paying, I paid off the credit cards.
I think I had like one or two credit cards. And then I paid off the student loans. I paid off one student loan and the April 28th, 2017. I made my last payment. And I think that payment was like over $2,000. At the time I was making $2,850 a week. And I was paying $1,125 a week to Sallie because she needed to be extricated out of my life. Like, absolutely , I went ahead, I paid that off. I was debt free and, you know, I want to get me a car.
Naseema McElroy: [00:08:15] Me too, girl. It's funny because we both did the same things because we was like, you know what? We worked hard. And I told myself, when I had enough money to buy my Tesla cash. I would do it. And I, and I got to that point, even though I didn't buy hash because it didn't make sense financially.
Well, what I can do, and I got like a 1% interest, right? Like, it didn't make sense, but that was my goal. Like, it wasn't like, I was like, just out here balling on a budget. Like we have. Well proven that we have turned the ties financially. And that's when we decided to get the car and not just like some car, we both got our dream cars.
Danielle Brown: [00:08:52] Yeah, we absolutely did. Absolutely. And you know, it's funny cause I was talking to you about it and I was like, nah, I can't do it. And I really tried like for about a year. So the, I had a 2000. A Nissan Altima and I love my car and I love my car, a
Naseema McElroy: [00:09:10] stick shift.
Danielle Brown: [00:09:14] I love my car until this day we done been through everything together. We, we drove through 19 States together, me and my boo. Right. So I really looked around for a car and I'm a car girl, and I really couldn't find anything. And, you know, I test drove the M three and it was a rap. Like I knew I had to. And you just, like you said, I was at a point where yakka pay cash, but it didn't make any sense financially.
And most importantly, our behavioral change stuck. It wasn't like we were slipping back into past habits. Like there was a clear clan in which I was going to execute and purchasing this car. It wasn't just a purchase. So. You know, I got that. And then it was onto investing. So, you know, opened up my accounts learned more than you.
You, you, you're the one that came to me and told me about choose FII SAS, listening to choose. FII read simple path threat to wealth, everyday millionaire. And you know, it was just, it was just. On from there, you know, that's just the only thing that makes sense. I have this tremendous opportunity making this abundance of money.
I've never thought in my life I was going to be able to do, and I can change the trajectory of my future. And that was what was. So mind boggling to me, like I can live a life that I never thought that I would be able to live. Like I'm fortunate enough to have gone somewhere in 2020. I went to the Philippines and that was, yeah.
Hella fly almost. They make it out because they shut the border down, like when we were leaving, shutting the border down. But , Yeah. You know, I never thought I was going to be able to go to the Philippines or anything, like, and I have this opportunity and I was going to make the most of it. And I'm going to let everybody know, everybody know that you can do it too.
You could do it on $40,000 a year. You could do it on $60,000 a year. It is possible, you know, we don't learn it every day in school and in school. And I don't understand why we don't, but it absolutely. Yeah, it's possible.
Naseema McElroy: [00:11:28] It truly is. And I just , when you're sitting here describing a story, I was like getting choked up because.
Man just living through it and seeing it and knowing where we both came from and like, y'all Danielle was hecka modest, but I mean, she's blown past me as far as like what her net worth is . And so I have like juiced , Oh my God! Like she has done some phenomenal things with investing and she's only just starting.
I can't wait til she levels up her investment game because it's going to be no stopping. And, you know, even though we're both on like a path to FIRE, we're both still super passionate about working too.
Danielle Brown: [00:12:13] And, you know, even when I get there, I don't even see giving it up, but it's so powerful knowing that you don't have to, like, you don't have to, you know, I don't really like all that much no more.
So , I'm out,
Naseema McElroy: [00:12:26] I'm out. Right. Right. And then you have flexibility. Like I plan on like getting to the point where I'm 45 and I'm just like, yo, so I can work like three or four months a year when I'm here, I'll work full time. And then after that, I want to be able to take off. Y'all cool with that. Oh, I mean, because you can take , leave of absences
and even if they don't hold my position, I'll be like, well, then I'll just reapply next year. And I know you're gonna hire me back. Cause you know what I'm worth. I mean, it was I'm like, those are the options that we have, like, and only reason why I'm even working those three months. And so I can max out my 401k or my 403b because why not? Why not settle, come home for a little while, make it a little money, max that out. And I mean, like,
Danielle Brown: [00:13:11] especially if you, it's not like you need to live on the money, you know, real quick, and then I can, I can do whatever else, but it just, the possibility of having that tax free benefit. You might as well.
Naseema McElroy: [00:13:25] Yes, exactly. Exactly. So what are your plans? When you get to the point when you're FIRE?
Danielle Brown: [00:13:34] You know, so right now I , you know, have the seven figure nurse, investor goals, nurse investor thing going well. Okay,
Naseema McElroy: [00:13:43] well, let's start. Let's, let's start there though. Let's let's talk about how the seven-figure nurse investor was even created.
Danielle Brown: [00:13:51] So it's funny, everything so funny and the Lord works in my life and I just let him do it. You know, I used to always, just like you said, like everything that I learned, like, Hey guys, did, you know, X, Y, Z. So then I became the girl that just knew a lot about the retirement plans and tax deferred, type of compensations and all that type of stuff.
And yeah. So people would come and ask me questions. And then one day this girl said, let me tell you something. Her name is Antoinette. She Al she always got her Angenette isms. Let me tell you something, girl. You need to go ahead and open up a business. You need to stop giving out this free information to all these people.
You need to start getting some monetary compensation for what you're saying, that little brain you got, how many just started Instagram page. I was like, Whoa, Whoa, Whoa. So I just gave her my phone went on break. I came back the Seven Figure Nurse Investor was created. Then, you know, I was like, can I really like posting and do stuff?
But then, you know, I started posting here or there, and people were receptive and, it would just be, you know, what do you know about certain things? And then I would help people with their allocations and their , for three B plans. And then it just kind of escalated from there. And. Here we have it, you know, and it's growing into something that, you know, I'm definitely passionate about and something that could be big, you know, like financial, be intentional, you know, maybe there's a podcast in my future TBD.
You know, that is something that is a possibility for retirement. You know, I also am a fetal monitoring instructor. I'm working on getting my events. That's also a possibility for retirement. You know, I have little. Things that I can do in retirement that has to do with nursing. Doesn't have to do a nursing, but I don't have to work on the floor anymore.
So, you know, my plan when I get there to me, I feel limitless because I have options and it's, it's, it feels amazing to have options.
Naseema McElroy: [00:16:15] Right. And so it sounds interesting because you're saying, cause we're both saying, Oh, we're going to retire, but then we're all, we're both still talking about working. The thing is that we can get to a point where we don't have to work anymore, but we are both choosing to continue to work, but only as it.
It's us. And that work is though that we don't have to live off of our retirement savings. We can let that bubble. So just as a refresher, like FIRE is when you have 25 times you're spending in , an investment account investments somewhere where you can draw down off of the day.
Right? So hypothetically, if your spending is 40,000 a year, you would need a million dollars in investment and accounts. And then by the 4% rule, you can take out that 40,000 to live off of like, you know, for 30 plus years are through your retirement, whatever, or, or more if you, if you have more or if you, if you take less, but if you.
Don't need to pull off of that retirement, like we're suggesting, because we can cover our living expenses and then some from our, whatever, we choose to do a retirement, then that money just grows. And so that's what we're saying. Like, work is super optional. And if we want to just take a year off and do nothing, we can pull from those accounts.
Danielle Brown: [00:17:33] You know, there's a difference between what we're doing now and having to be somewhere at a certain time every day and clocking in, you know, for the, that 12 hour shift or that 16 hour shift, as opposed to I'm going to take a client today, or I don't want to take a client for the next two weeks, or I want to teach one class a month, you know , I want to do one podcast a week, you know, that's.
That's what I want to do instead of having a 36 hour week or 40 hour week, you know, that's, that's the option and that's the beauty of having that option,
Naseema McElroy: [00:18:10] right. It's everything. But I also don't want you guys to think that we have to get to that certain point before we make those decisions. Both of us for both of us, our lives.
Substantially changed in how we approach work. Like we'd both be like, we ain't really got to be here at this point. Like we don't have debt. I mean, we have bills and we have savings goals and we're working towards that, but we also know our potential so that we don't go for the okey-doke. And so if it's not working for us, we can keep on moving.
But that's the empowerment that comes with getting control of your finances. It doesn't mean that it starts at the point where you're financially free. It starts at the point where you know that you are in full control of your money. Therefore you are in full control of your life. And so you can move how you want to move. It's about getting to do the things that you want to do, not having to do the things
Danielle Brown: [00:19:01] and you know, it's funny because I talked to my clients and I'm like, unless you have your financial life together. Then you can't go on a journey of investing and on the journey of fire, because the journey of fire is having a financial life together.
It's already being tenacious. It's already being intentional. It's already knowing, and this is how much exactly I pay every single month for a certain thing. So if I ask a client, well, what's your monthly expense? And they're like, it's about. It can't be about, you have to know exactly what it is.
And even when I listened to it, she was at fi like, they are even more intricate than I am because, you know, they calculate how much that meal costs, you know? They're like, well, our meals are nightly meals is about a dollar and 67 cents purposes.
Naseema McElroy: [00:19:53] Yeah. They keep their mill costs, but they could keep their mail costs below $2 a person.
Danielle Brown: [00:19:59] Yeah. And I don't necessarily calculate it. I also like. Don't blow money fast and all the restaurants as either, have hundred dollar meals, you know, every night I also don't do that. I'm also very careful in how I spend the money meal money and how I spell entertainment, money shopping
Naseema McElroy: [00:20:22] But I don't want people to think that it's coming from a point of deprivation. It's really because Danielle is like every dollar that I'm spending on that meal is not working for me is not being an employee. It is not out there hustling.
Danielle Brown: [00:20:35] I am makeup girl and I am not buying makeup.
Happily, not buying makeup. Happy, not, not doing any of these things. I know it's COVID but I can take a flight if I want to, but no, I'm happily not doing it. Because I rather invest that money. I wholeheartedly rather invest that money. And just like, if I'm want something real bad, like the MP3 I'm going to get it, but it's much more , It's better for me.
I want to deep down in my soul, put that in the market. Cause I know that dollar is going to make baby dollars and that makes me more happy than anything material can give me.
Naseema McElroy: [00:21:10] That's what I always tell people. Your money is going to work harder for you than you ever could. Okay. That money hustles day night doesn't get sick.
No days off. It's constantly grinding. So I mean like every dollar that you can put into an investment vehicle is going to work so much harder. So that's why I say start, start
Danielle Brown: [00:21:32] even with, and I remember I was just starting with the roundups. That was roundups add up
Naseema McElroy: [00:21:37] I remember one time you came to me and was like, girl, look at these roundups. It was like $10,000.
Danielle Brown: [00:21:45] Right, right! I'm at 15 grand right now!
Naseema McElroy: [00:21:48] I was like, girl, you'se a fool with it. But yeah, people sleep on those little micro investing.
Danielle Brown: [00:21:58] That's another recommendation. Automate your investments put it. I don't realize that $5 and 62 cents came out. And of course, I also do re recurrent investments with the, with the roundups. You know, it's not a tremendous amount.
I don't really see it. It doesn't really affect my life, but it doesn't affect my life right now, but it will in 20 years. Cause that Roundup right now, it's projected to be at like a million dollars when I'm 77. Granted it's like 40 years from now, but it's roundups.
Naseema McElroy: [00:22:30] Exactly, exactly.
Danielle Brown: [00:22:34] Imagine all the little pennies you dropped the numb them little change things at the counter, you know, how much money that could round up to be.
Naseema McElroy: [00:22:43] Right.
Danielle Brown: [00:22:44] You know? And I'm happy to do it.
Naseema McElroy: [00:22:50] I love it. I love it. And I love that you have started your own platform, where you share your journey and you help other nurses. Cause man, there's never enough of us, like seriously. Like we gotta spread the word, we gotta get this out here because now we're at a point where. We understand the value of our dollars.
And we know that, well, to begin beginning, it gets weld. Like when you see like wealthy people and you're just like, Oh, you know, like, how could they, like, how did I stay wealthy? Well, this is how they stay wealthy because they don't really have to touch their investments. It just keeps on growing.
So that money begets money. And once you get into a position and I don't want you guys to think that if this is like something like super hard or that me and Danielle did something extraordinary, we didn't do nothing extraordinary. We did some real basic stuff to get to where we were, but. It's just simple math.
It's just the simple fact that now we're a few years down the line. So now we're reaping a lot of the benefits from the things that , the work that we put in. And when I say work, it's not about hard, like, it's really automating, like, just, it was really the decision. It's the difference between like, The people that was sitting there still scrolling on their phone versus Danielle going into the break room and setting up her account real quick that's it, that's the difference.
Danielle Brown: [00:24:11] I know you're on fire and you want everybody to be, and just to understand how simple it is. There's a few new grads that I work with and I'm like, listen, XYZ. You know, like the 401k, the 403b right now, like you are so fortunate to have two accounts.
You're so fortunate to be in a place where you're starting with a tremendous amount of money. And one of them, they live with their, their, their parents still. And I'm like, listen, like you are in a perfect situation right now. And she was like, yeah, yeah, yeah. Well, one day I haven't pulled up a compound interest calculator on her.
When I said eyes got all wide and the lashes, the pretty little lashes, okay, this is what I'm talking about. I was like, you don't age, you don't have to work. Like I do no. Everything is an option. Like you can live like sincerely your best life.
Naseema McElroy: [00:25:09] Yeah, I love showing late teens, early twenties, people a graph of compound interest and the fact that they can be investing a hundred dollars a month and then like stop investing at 30 and leave that money there and have more money than me. If I start at 30 and invest through my retirement years.
Like mind blown that compound interest is not a joke. So yeah, like for all you need new grads out here. Get your 403B/401k together right now. Max it out. You ain't gonna miss that money. You ain't never been making that money
Danielle Brown: [00:25:44] Or even if you can't max it out, go to the match. That's free money
Naseema McElroy: [00:25:51] At least at a match.
Danielle Brown: [00:25:52] And it will definitely reap a lot of benefits, you know? Billionaire theme hour. There's a lot of people, a lot of people that are everyday millionaire plumbers, teachers and secretaries, regular people that are everyday millionaires just by being intentional with their spending. And that's it.
Naseema McElroy: [00:26:11] Yeah, it doesn't have to be hard and not just want you guys to really look at me. And Danielle first, as, as a point of inspiration, I say that like, we got everything figured out, but we did a couple things, right. That have set us on a path and our families on a path to be in a much better financial position.
And so. I don't know, Danielle, I just am so proud of you. Like you just don't even know like how proud of you. I am. It almost brings me to tears. Cause I'm just like, damn like. Like I seen the glow up and I'm just a man. I just, I just felt proud because you actually just like, listen and you're not, I don't have that perfect information.
I mean, you've taught me things too, you know, so, but it's so good to like be in the company of somebody that has the same mindset and it's putting into work and just like doing things. I'm just grateful for you grateful to be a Frank grateful to be able to work side by side, but you up cheers,
Danielle Brown: [00:27:13] I'm grateful for you. And I'm like, what? Say that again, but where are you? Oh, go ahead and look that up, you know? Yeah. Because. It all starts from just information, information gathering, and you know, one person knowing and the other person listening. And if there's someone that, you know, that has, has achieved something that you're trying to get to, that's who you want to listen to.
Listen, who's done it. Who's doing it actively. Like that's the Jew take. Let me, let me hear from you. What gems you got to drop today?
Naseema McElroy: [00:27:53] Exactly it's super important to, to hear from the person that's like a half a step ahead of you or a step ahead of you because it's relatable. So you're just like, Oh, okay.
Like I'm at the point where yeah, I can do that all I can, I want to see myself doing that. And so I think that's what we have with each other. And so that was really , just inspiring. Yeah.
Danielle Brown: [00:28:13] Yeah. We still on the journey.
Naseema McElroy: [00:28:19] Oh, yes, definitely. We still be like, girl, you need to get on this X, Y, Z. Let's do it. Danielle let all the people no, where they can , connect with you and themselves become a seven figure nurse investor.
Danielle Brown: [00:28:36] All right. Well, I'm on Instagram. That seven figure nurse investor, as well as YouTube . my email DanielleBrown@gmail.com.
Naseema McElroy: [00:28:45] All right. So reach out to Danielle. If you are interested in becoming a seven figure nurse investor and she has the jems. So thank you so much, Danielle. This is really being a pure, pure, pure honor.
Danielle Brown: [00:28:59] Thank you and Naseema. This has been my honor to be here. Like when you said I should come on a podcast, I was like, yes. So happy to even be at the place where yes, you'll be a good example to be on the podcast, you know, just pass the information and motivate others. Absolutely. I'm here for I'm here for you, SIS.
Naseema McElroy: [00:29:24] Ah, well, I'm here for you too, and this is long overdue, so I really appreciate you.
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