44-year-old brings in $251,000 a year with 3 jobs in the Bay Area
Nasima McElroy is a 44-year-old labor and delivery nurse in the Bay Area earning $251,000 annually from three jobs while supporting three children. She prioritizes financial independence through maxing out retirement accounts and strategic debt management, including maintaining 20 credit cards for access to resources.
Summary
Nasima McElroy, a 44-year-old mother of three daughters, works as a labor and delivery nurse in the San Francisco Bay Area while maintaining three jobs that generate $251,000 in annual income. Childcare represents a significant expense in her budget as a working mother. She has structured her financial approach around achieving financial independence, systematically maxing out both a 403b and 457 retirement plan while also contributing to a Roth IRA. Once she achieved these savings goals, she expanded her investment strategy to include setting up investment accounts for her children. McElroy takes a strategic approach to debt, viewing it as a useful tool when used intentionally rather than something to be avoided entirely. Her current debt includes a mortgage on a million-dollar house, which she notes would be impractical to purchase with cash, and business-related debt used to grow and reinvest in her business operations. She maintains an extensive credit card portfolio of approximately 20 cards, which originated from her previous interest in credit card optimization strategies but now serves primarily as a way to maintain access to additional financial resources when needed.
Key Insights
- McElroy prioritizes financial independence by maxing out both a 403b and 457 retirement plan plus contributing to a Roth IRA
- She started investment accounts for her children only after maximizing her own retirement contributions
- McElroy believes debt isn't inherently bad but requires intentional decision-making about when and how to use it
- She justifies her mortgage debt by explaining it would be very difficult to buy a million-dollar house with cash
- McElroy maintains 20 credit cards, transitioning from credit card hacking strategies to keeping them for access to extra resources
Topics
Transcript
[0:00] My name is Nasima McElroy. I'm 44 [music] years old. I work as a labor and delivery nurse in the San Francisco Bay Area. [music] I am a mom of three beautiful girls. Having child care is rather a [music] big line item in my budget. I prioritize financial [music] independence. So, as soon as I got to the point where I was [music] able to max out a 403b and a 457 and invest in a Roth IRA, I [0:32] started investment [music] accounts for my kids. I don't think that debt is a bad thing. I think [music] that we have to be intentional about the choices we make that and the decisions that we make [music]…
Full transcript available for MurmurCast members
Sign Up to AccessMore from CNBC Make It
I Left The U.S. For The Caribbean — Here's How Much It Costs
Chantel Henry shares her experience moving from Atlanta to Trinidad and Tobago 11 years ago, highlighting the significantly lower cost of living, free healthcare, and improved quality of life despite initial skepticism. She demonstrates concrete monthly expenses ranging from groceries at $15 USD to rent at $500, while maintaining a six-figure income as an AI consultant and homeschool mother.
Grads say college is worth it despite career and job search challenges
The Bureau of Labor Statistics predicts strong job growth in fields like electrician work, nursing, and software development over the next decade. Despite current job market challenges, recent graduates express no regrets about their college degrees, citing personal growth, life skills development, and self-discovery as major benefits beyond career prospects.
My ice cream business brings in $2.8M/year
Malai is a South Asian-inspired ice cream company that generates $2.8M annually by featuring authentic flavors like cardamom, rose, and saffron. The business operates four brick-and-mortar scoop shops across major US cities, with 80% of revenue coming from these retail locations and the remainder from wholesale, e-commerce, and catering.
I scaled back my six-figure career to run a local bookstore with my husband — here's why
A couple shares their experience transitioning from a six-figure career to running a local bookstore together, emphasizing that their reduced income and lifestyle change has brought greater happiness and fulfillment despite financial uncertainty. They reflect on how overcoming initial fear about the transition has made the experience exciting rather than scary.
'Hard work will speak for itself' is a lie, says Stanford career expert
Stanford career expert Jeffrey Pfeffer argues that the belief that hard work alone leads to success is false. Instead, how you present yourself and your visibility to leadership matters as much as or more than the actual work you do, making relationship-building with your boss essential for career advancement.