If you are an experienced professional, there are lots of reasons to need a little extra financial breathing room. You may have loved ones who need additional resources. Or maybe a private school is a better fit for special learning needs. There may be important causes that you care about and you would like to support them with large gifts. All of these ways to help people require us to have financial resources.
In this episode, we hear from someone who learned about the Financial Independence Retire Early Movement ( F.I.R.E) and took steps to reclaim her financial freedom and she is now teaching others how to join her on this path towards F.I.R.E. !
Below are highlights of the key points from our conversation. Because the notes are only a summarized version of the interview, I highly recommend that you listen to the above audio , which includes details that are not on this post.
For more information on the people and ideas in the episode, see the links at the bottom of this post.
00:22 Today we have with us Naseema. She is the founder of Financially Intentional and I'm so glad that she's here with us today. I've been watching her from afar for years and she's done amazing things and she is really about breaking the cycle of living paycheck to paycheck. And a lot of my audience members are nurses and we can definitely identify with that. Along with that she shares her lessons and along her path to help others become financially independent and realize the freedoms associated with that.
01:21 Naseema shares that she is a labor and delivery nurse by trade. Yet some years ago she knew that she wasn't where she wanted to be financially. Despite looking like she had it all together, deep down she knew that there was more for her and she could do better with her finances. Eventually Naseema went on to pay off $1 million in debt off , a good amount of that was student loans.
01:55 She shares her story so that others can know about the path to financial independence and that they can do it too can achieve this freedom relatively easily.
02:56 While Naseema had always made a really good income, but she just wasn't intentional about where her money was going. It is never too early to take control of your income, if you can't take control of your finances from where you're at right now, it doesn't matter how much money you have, you'll never be able to build well because your mindset hasn't changed to where you are in control of your finances.
05:14 When is comes to starting her business, Naseema shares that what excites her is the ability to create better opportunities for her daughters as well as impact other generations.
06:09 Naseema then looked to see if her friends would want to know how she was able to pay off her debt and that was how financially intentional was born.
09:47 Some of the tips she shares are how she used zero based budgeting, then that moved on the helping people hands on, yet she is just one person, so last year she created a group coaching program that is now a monthly membership program where she can help people walk on their path to financial independence.
10:52 Naseema shares that she did not wake up knowing how to do all of this. What she did was invested in coaching and programs to help her learn how to do one on one coaching, then learn how to build a group coaching models and membership models and so on and so forth. Nothing happened overnight her learning about building a business took time as well as courage to take action.
15:33 Thoughts on the limitless lifestyle concept and refusing to be boxed in to roles that do not fit.
16:38 Overall mission is to help increase wealth in our communities and allow this to impact changes that are needed.
17:52 While money is not everything, financial resources independent of a day job, gives you more options and how you can help people and gives you the opportunity to be there for your loved ones who need you without worrying about getting permission form an employer. Also it can give us the freedom to leave abusive work situations.
Naseema shares that still work her nursing job and that will not change anytime soon.
21:33 While Naseema has had many successes , these do not come without a lot of costs. When it comes to having a business, there is time investment, there's capital investment.
22:32 With sharing her story, many have been positively impacted people and she has been featured on several podcasts and multiple platforms. This exposure has forced these accelerated collisions with people who she looks up to to specifically women who are influencers in their own right who have, million and billion dollar companies.
24:20 It is key to take away that Naseema put HERSELF out there. She did not wait for permission. She didn't wait for someone to go and build a stage, build a platform, then look around, search around, look for her and invite her, she was intention and proactive about getting the word out about what she was learning. She created her own lane.
25:19 Naseema shares about how she got to be a guest on her favorite podcast, His and Her money, even before she felt like she "arrived" or had a story to share.
27:34 Naseema cautions new business owners against the idea that we can serve everyone as this will quickly lead to burnout.Instead she recommends to a deep dive to find the ideal client with which you can have maximum impact vs diluting your efforts by trying to serve everyone. Additionally clients who are not a good fit, may not appreciate your efforts. In short, you can't be everything to all people.
29:44 Speaking of niching down, Naseema is starting a podcast called nurses on fire, which is four people are for nurses who are aspiring to be on the path of financial independence, are people who are on the combat path to financial independence, are people just nurses in general that didn't even know that it was possible to be financially independent( By the time this is live, the podcast as launched!)
30:41 There are nurses are in their 50s who are experiencing sudden layoffs and unit restructuring and are now struggling to find work that will pay them based on their wealth of experience.
31:38 The world of healthcare is changing and we're trying to shift models and a lot of the traditional roles and nurses have been serving are no longer that they've kind of been phased out. Naseema has seen a lot of people being reclassified or their department's just shutting down. A lot of those nurses haven't saved financially for that and can't recoup those incomes that they had because they don't necessarily have the transferable skills to be able to work in other areas.
33:00Naseema would like to support nurses is addressing these challenges and is offering resources on her website: www.financiallyintentional.com, Instagram and her vibrant Facebook community called financially intentional, along with her podcast