Retire by 30, thanks nursing!

Bugaloo · Dec 11, 2007

AlwaysLearning, You sound like a very optimistic and positive person. I love that!

Health insurance is very important. Don't do without it. Remember to have fun! Nursing can quickly burn you out, and you will need some down time for R & R. Sixty hour weeks x 8 years will made you REALLY old before your time.

I think it is great that you have a plan at such a young age, but remember to have some fun in life too. Sock back as much money as you can, do not run up consumer debts, research the price of living in various parts of the country and buy a home there. For instance, our home in Missouri is an hour drive from St. Louis, in a low crime area, and our 4 bedroom, 3 bath home with a full basement in a nice area of town was in the $130,000-$140,000's range. Our mortgage is less than $700 a month. I feel blessed every day that we live where we do. Houses like this in the next county are about $80,000-$100,000 more. In California, they would be way beyond our price range.

Sounds like you have a good head on your shoulders. Don't listen to the naysayers. Stick with some sort of a plan, remember that life throws curve balls every now and then and remember to have fun. There is nothing wrong with being ambitious. If you plan it right, you will succeed. Best of luck to you!

James Huffman · Dec 11, 2007

Hmmmmmm me thinks you will find out life is NOT all about the money honey!!!!!

The OP didn't say it was all about money. It's about a life, and using money to facilitate that life.

I don't think that retiring at 30 is a great idea (men, especially, tend to die within a few years of retirement) but I'm also a big fan of people envisioning their future, and living it.

Money's a tool. The OP is suggesting ways to use that tool well. I wish her the best!

madwife2002, BSN, RN · Dec 11, 2007

You know at 21 you think 30 is anicient, and then you get to 30 and you think 40 and so on. I think it is great you are planning so well for your future and I hope you achieve your goals I really do. But something called life sometimes gets in the middle and screws you up.

You know you are so focused that I bet when you get to 30 you will have another goal to focus on, and retirement will be something you wouldnt consider doing. Good luck I wish I had had your enthusiasm at 20 instead of 40 LOL.

StrwbryblndRN · Dec 11, 2007

Don't stop dreaming and striving for it.

Even if you accomplish half of what you said at age 40, you are still doing alot more than most people.

Don't let anyone stop you or think you are nuts. I have heard true stories that parallel what you wish to achieve.

Triple A's · Dec 11, 2007

i want to commend you for thinking about retirement at such a young age. with so many people your age and mines (33), who are just letting life past them by. you have decided to take life by the horns, i like that alot. however, i think you should remember that although we may plan well, sometimes the things that affect us the most are the things that are not planned. so be prepare to make adjustment when neccessary.

life is what happens, while were making plans.

llg, PhD, RN · Dec 11, 2007

I, too, commend you on thinking seriously about your future and that you realize that you will need to save your money in order to finance your retirement.

However, the fact that you forgot to include a lot of things in your plan (like taxes!) should tell you that you still have a lot to learn and need to remain flexible in your planning. Be prepared to modify your plan as you continue to grow and learn about life.

BTW -- I have about $750,000 of saved up right now. But at age 52, I don't think that is quite enough to fund my full retirement yet. Housing, health care, long term care, etc. ... those things are expensive and I don't want to run out of money when I am in my 80's and have to rely on charity to pay for a "bottom of the heap" long term care facility. So, I am still working -- but hoping to be able to ease into retirement in about 10 years.

Alex_RN2b09 · Dec 11, 2007

My problem lies with the issue of boredom I'd die if I had no major obligations outside family for 45+ years of my life. But that's me I guess I like being busy.

Regardless keep planning for your future I'm 23 myself and am already working on my retirement fund. I'm not looking to retire as early as you are though. I'm sure my priorities will change as family and children come into the picture. In the end I'd like to work as an educator after I feel my time on the floor is complete and I have a good financial situation to live comfortably.

DutchgirlRN, ASN, RN · Dec 11, 2007

Ok check this out, i have a plan to retire by the age of 30:
Now for 8yrs i will work my ass off and be traveling and have little social life, but at age 30 i will never have to work again, and i will probably never want to in nursing cause i will be burnt out, but i think it would be worth it, what do you think?

:uhoh3: It's great that you're ambitious but your plan is not feasible. Minimum 60 hours a week in nursing is not doable at least not safely doable for your pt's safety.

James Huffman · Dec 11, 2007

Um...I think there's a whole lot wrong with your thinking.

What's the problem with it?

It's not something I'd do, but there's nothing wrong with it at all: it's a matter of choices and options, and I'm glad for people who have goals and focus and know what they want to do with their lives.

DutchgirlRN, ASN, RN · Dec 11, 2007

What's the problem with it?
It's not something I'd do, but there's nothing wrong with it at all: it's a matter of choices and options, and I'm glad for people who have goals and focus and know what they want to do with their lives.

There's a whole lot wrong with it. Patient safety being #1

RN1980 · Dec 11, 2007

My problem lies with the issue of boredom I'd die if I had no major obligations outside family for 45+ years of my life. But that's me I guess I like being busy.
Regardless keep planning for your future I'm 23 myself and am already working on my retirement fund. I'm not looking to retire as early as you are though. I'm sure my priorities will change as family and children come into the picture. In the end I'd like to work as an educator after I feel my time on the floor is complete and I have a good financial situation to live comfortably.

my problem would be, if i ain't workin i'm spending, hell retired at 30...i'll be broke by the time i'm 32...

gerry79 · Dec 11, 2007

Working 60 hrs a week will ruin your body. I am a new nurse and assumed that I could work 60 hours and be fine... Well I found myself cranky, tired all of the time and less focused at work. Sure, my after tax check was $1800 a week, but I was miserable. I must also point out that I am about double your age, so stamina may not be an issue for you, but I know nurses who are your age that complain about working 40 hrs a week.

I also commend you for thinking about your retirement at such a young age. My advice to you is to spend wisely, carry minimal debt, and live below your means. I don't know if your goal of retiring at 30 is feasible, but definitely doable by 45 or 50. If you are planning on having a family, then you will have to modify your plans a bit, but you can still retire comfortably early if you spend wisely and plan accordingly.