Nurses , How to afford retirement?

Nurses General Nursing

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During break today. We got to talking about how we as Nurses have not planned well for our hopeful/ eventual retirement someday.

We brought out how we have never organized like the teachers have . They each belong to their state Teachers Associations, or what ever exactly they call it. They put money into the funds offered by their associations, therefore assuring a pension for themselves, when then meet the magical formula of age plus years of service.

As Nurses I would think we would more need a type of national association to have this be effective, as many nurses move from state to state throughout their careers.

How is it as Nurses we have not come up with something like this. For many of us we might be beyond the age where this would be of much help. For our younger generation this might be something to consider, and look at how to make it happen.

While I will have a small pension from my former employer , along with funds I have put into a 401k, and hopefully social security. It is still not like teachers, fireman or policeman have.

I do not have the answer to how this could come about, or if there would even be interest in it. I just thought I would throw it out, and see what others think of it.

Specializes in Emergency Room.

i tell new grads all the time not to go crazy with OT and agency/ registry jobs once they become nurses because all it does is create the illusion that you make more than you really do. live within your means from the start and you won't have to break your neck finding agency jobs that pay 40-50$ hour because now you have so much debt you can't see straight without it. nursing allows nurses the opportunity to make money they normally could not in other professions, but the trick is its (agency etc,.) not guaranteed so alot of nurses find themselves hopping from job to job for the next highest dollar amount and not saving a dime. out of 20 nurses, i know at least 13 that live like this. i also took a pay cut for a job with a comfortable pension because i didn't want to get caught in this cycle.

Specializes in Med/Surg,.

I actually did a google search tonight thinking about nursing retirement....came across the article too: http://www.jstor.org/pss/3409901

Wonder what happened to the "Harmon Plan" ??

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