I have accepted a position at a hospital that will have me earning at least $30 an hour. That is ALOT of money for me. Considering the fact that I will be 24, splitting living expenses 50-50 with mom, and I have a vehicle that is completely paid for, I will have lots of $$$ left over every month ($2800+) after my expenses are paid. What can I/should I do with the excess money? Hurry and pay off student loans (23k)? Save up and buy a new car cash? I don't have kids and I am single if that means much.
What did you do with your disposable income when you began your Nursing career?
ETA: I am not interested in becoming a home owner at this point. I like the flexibility of being able to pick up and go when I please and owning a home would make that difficult.
It just your body isn't like it was when you were 20. I would go to clubs all weekend long, drink never get hangover, do party favors designer drugs like eve/ecstacy and be good to work during the week.
Me taking long 24 hour flights to asia is killer and I suspect the older I get the harder they will be.
Maybe that's because you abused your body so badly when you were young with all that partying and designer drugs. People who take good care of themselves when they are young tend to be in pretty good shape even as they age.
Not everyone is a tired, burned out ex druggie by the time they are middle aged or older, you know.
I know people in their sixties who do daily bike rides of 30 miles or more, or runs of 7-10 miles a day. I'm willing to be they weren't hard core partiers when they were young, though.
I stopped clubbing when I was 24. The whole environment is annoying. I realized that saving money and planning was the priority, even then. Instead, I traveled when I found cheap deals.
I've always exercised and I eat healthy.....everything in moderation. I've kept this routine all my life. I'm 42 now and I look 10 years younger. If you take care of yourself emotionally, physically and financially, you should age well.
Of course, there are always curve balls in life, but a healthy routine does pay off. I work LTC and the 90 year olds who have managed to survive relatively unscathed say the same and it shows.
This whole post has me reevaluating my life. Do I really need to start saving for retirement.. do I really want to save money to spend in 40 some years... do I want to live past 75..
This whole post has me reevaluating my life. Do I really need to start saving for retirement.. do I really want to save money to spend in 40 some years... do I want to live past 75..
Yes, you do need to start saving. You may live well past 75 even you don't plan on it. And then what?
Nurses should be the last ones to practice poor retirement planning, both in terms of financial and physical health planning. We, of all people, know what it's like to age poorly: I mean, we've all seen the awful LTCs, right?
This whole post has me reevaluating my life. Do I really need to start saving for retirement.. do I really want to save money to spend in 40 some years... do I want to live past 75..
That's a pretty stupid assumption it's just a screen name, that somehow is directly related to how she'll practice as an rn? Please tell me you're being sarcastic
No, not sarcastic at all. ToS on this site state that you cannot use a title that is not earned. It is what it is. If you can't follow simple rules on a website, makes one wonder about the not so simplistic in real life. I'm assuming you were replying to me. Please in the future use the quote feature to eliminate any doubts. Thank you
Specializes in OR, Nursing Professional Development.
This whole post has me reevaluating my life. Do I really need to start saving for retirement.. do I really want to save money to spend in 40 some years... do I want to live past 75..
Only the good die young.
So I should probably prepare to live forever :Hellboy:
Saving for retirement should be balanced. Don't stop living, but be mindful of spending. What happens when you find yourself 60 years old with no savings? That's a scary thought, and far too common especially after 2008.
Many people have had to withdraw their savings earlier, but for those people who had savings at least it was THERE.
As others have said, what you make and what you actually get to take home are different.
I started making roughly $30/hour, and I took home roughly 70% of what I made. Taxes and health benefits will cost you, and union fees too, if you belong to a union. After paying my rent and bills, I put the rest towards my student loans, car payment and saving. Paid off my student loans in one year's time, and was able to pay off my car after a few years of saving.
Mind you, I was (and still am), single with no dependants, so I was able to save at least quite a bit each month.
My advice to you: first, really figure out how much you will net, work out a monthly budget and stick to it. Pay off your debts if you have any, and sock the rest away to a saving account. Never too early to save for retirement. Lastly, treat yourself once in a while without blowing your savings--go on trips but do not spend more than you can afford on trips!
ixchel
4,547 Posts
I actually just now posted an edit with all kinds of corrections. lol Messed up the retirement number. :\