Travel nursing now or wait for pension?

NedRN · Nov 23, 2015

That is a pretty difficult question to answer without knowing what the pension is worth. The answer might be very different for $50 a month and $300 a month. And what it is actually worth thirty years from now when you actually retire.

Is this really a pension, or a 401/3 account?

san0 · Nov 23, 2015

Thanks NedRN for responding.

Yes it is really a pension. 100% contribution from employer based on my salary.

I am young and have 30+ years before retirement but was needing advice as to whether it behooves me to stay another 2 years to be vested in order to get the pension (and decide at that time to travel or not) or do I take this opportunity and start travel nursing now. I am really excited about starting travel nursing to experience a different state (I'm currently in FL) and improve my skills...plus all the other positives about travel nursing. I guess truth be told, I'm nervous about giving up a staff/full time position to go on to the unpredictable/unknown travel nursing career. Call it first assignment gitters!

Oh... Estimated Monthly Pension Benefits so far is $700+/month (assuming I work until I retire)

NedRN · Nov 23, 2015

$700 a month or $8,400 annually after 30 years of work? That is piss poor. I'd bail now - if you can be a disciplined saver and investor, you can do far, far better than that. I've done far better after 20 years of travel. The fraction you will lose after 3 years of work is negligible.

san0 · Nov 23, 2015

Ok thanks NedRN for that feedback. Makes sense. I think I'm just finding an excuse as getting out of this comfort zone and starting travel nursing is a little scary.

Question for you NedRN...

How were you able as a travel nurse to change specialty and gain the skills in order to do so. For instance....I want to eventually transition to an ICU nurse - how do I gain those skills when I'll be travelling and working as a step down ICU/tele nurse?

NedRN · Nov 23, 2015

That is not easy and I haven't done it (where did you get that idea)? It could be done I suppose with a bit of luck and the right personality and job assignments. Small hospital, easy ICU patients, you get floated and learn as you go. Eventually you will bag an easy primary ICU assignment and progressively get tougher ones. Not easy, nor is it the right thing to do. Better is to find a large teaching hospital with a great ICU internship and accept the two year staff contract that will go with it. Pick an interesting city and it will be like a travel assignment!

san0 · Nov 23, 2015

Sorry NedRN...my silly assumption. I just assumed that there must be some travellers that change there specialty and wondered how they did it. Did they stop travelling and went back to staff nursing, cross trained then hone those skills or what you said! lol...may need to make that a different topic.

Thanks for your input. I look forward in reading your posts here on allnurses. First travel assignment, here I come!

I<3Endo · Nov 24, 2015

If I think too long & hard about the salary/hours/profit sharing & paid vacation I'm leaving behind at my permanent job to travel my teeth start chattering. It's just that....I'm bored out of my skull! Plus I love my specialty & want to experience it from different perspectives.

So maybe thinking about what you want to look back on in the long run will help you make your decision. :)

san0 · Nov 24, 2015

Great feedback l

I<3Endo · Nov 24, 2015

I start in 11 wks. so I'll let you know! I think it'll be great but the way I look at it, I'll look back and have regrets if I don't try.

Don't worry, I'll keep you posted. This is a great site for sharing & encouraging. There's a traveling nurses for newbies on Facebook as well. It's also very helpful. :)