Retirement

[BiologyNerd]

I know nurses have no retirement... so I'm guessing most employers have 401k's...

Here is my question: how much $ must (in your opinion) you put in each month to have a comfortable retirement?

[Altra, BSN, RN]

I can contribute 6% and they will match it 3%. I make $2,025 a month after taxes... so what exactly can I contribute each month (how do you figure that out)? I'm guessing $121.50? So with the match it would be like putting in $182.25 a month (thats not good is it?)

Read your plan summary -- you can probably contribute up to 6% of your gross pay.

This will reduce your taxable pay by 6% too.

As far as $182.25/month being "not good" I have two thoughts:

1. It is $182.25 more than many, many employed adults are currently saving for retirement.

2. There is no downside to free money in the form of an employer match.

If you change jobs you can always take your contributions with you to invest in a new plan. You'll probably have to stay with this employer 5 years to be vested in their matching contributions.

BTW -- both hospitals where I have worked have had traditional cash accumulation plans (what you're calling "retirement") in addition to offering 403(b)s. They are becoming more rare in all industries, not just health care, but they are out there.