What age will you retire?

Nurses General Nursing

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I would like to work a good while after I "get back into it". I am returning to nursing at the age of 54. Can I expect to work 15-20 years? How long are yall planning to work? I would love to hear from you older guys and gals.

Started in nursing at age 55 and plan to retire at 70, if I can!

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I am very disciplined about living within my means and saving money and contributing to retirement accounts. However, I still don't trust that I'll have enough to retire.

Retirement planning advice frustrates me. They say things like "decide how much you'll need in retirement... at just X% interest, you only need to save $X for X years." Great, a plan! 8% is the modest return on investment usually quoted. Okay, so where's a safe place to get that kind of return?

Buying a home has worked as a saving device for many, but it's not like home ownership doesn't have it's own costs and risks. I live modestly and my rent has always been much lower than any mortgage payment plus no surprise roof or plumbing repairs to pay for. And what are the chances I'm going to be living in the same place long enough to really build equity? Job markets change and one may need to relocate for work.

And finally, what really is "enough" for retirement since not only might the economy be completely different but we could need anywhere from 10 - 30 years worth of living expenses saved up?! I could save every last penny and live a totally miserly existence all my life and build a big nest egg and still end up running out whether from a bad turn in investments, getting really sick, living too long... Ugh!!

If I make conservative investments and end up without enough money, it's my own fault for not investing more aggressively, right? And if I take more risks and end up without enough money, it's my own fault for not being more careful, right? Even if one has a great pension, there's the chance it will go under. Even if something is a "good gamble" and you do your "due diligence" and you "live responsibly" it's still a gamble!! . Ugh!!!

In many places, investing in one's children is considered akin to investing in a retirement plan. Of course, no guarantees that way, either!

Can you tell this is a sore spot for me?

I'm with you on this!! The retirement planning formulas say that I should have about $3 million in the bank (above and beyond home equity)!! Yeah, sure, like that's going to happen!!

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I am a prereq. student, future care partner for experience, then bridge-BSN as I have a lot of college credits from a few years ago. I am now in my early 50's. If I have good health, I will work until my late 70's. This a new career. My IRA's took a huge hit and I got so mad that I said I will NEVER retire if I have good health, and I will continue to earn money..... I plan and want to work my butt off, and just not retired until late 70's. Too many expenses when you add up health insurance, home insurance, property taxes, utilities, etc..... So HI HO, HI HO, it's off to work I go....

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Specializes in Med/Surg, Geriatrics.

FT until 55-57, then part-time until 62-65. Whether or not I stop working at 55-57, I plan to have enough in retirement so that if I am forced to stop working for some reason, I can expect to be reasonably comfortable. *fingers crossed* I too would like to work in research and academia in the last third of my career not because I believe it to be easier but because I enjoy that culture. I would also like to consider taking up anthropology and/or sociology but I would definitely need to provide for my retirement first.

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Specializes in med/sug/onc/geri.

When I'm dead, or when I'm smart enough to find a job in a different field....

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Specializes in L&D,surgery,med/surg,ER,alzheimers.
I don't know how the economy will be when I am in my late 50s or early 60s. I just hope it's not so bad that I will end up being coded where I work because I couldn't retire.

I love it! :):yeah::nurse:

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Specializes in ED, Cardiac Medicine, Retail Health.

Age 64. That gives me 18 more years before I am pardoned :sniff:

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Okay - I am curious - why age 64 instead of 65?

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Specializes in ED, Cardiac Medicine, Retail Health.
Okay - I am curious - why age 64 instead of 65?

I implemented a 30 year plan when I was 34 to be able to stop working and live comfortably at age 64 and thus far I am on track to meet that goal (retired from Coast Guard 3 years ago after 25 years). I may still work part time, but hopefully I wont have to work........but who knows what the future holds.

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Specializes in Coronary Rehab Unit.

Cannot plan on an age to retire, but given the way the economy is going, it'll probably be until I take that "final taxi" ....that is, I'll likely die before I can realistically afford to retire...:uhoh3:

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Retiring ASAP. (Hopefully this is my last year)..... As soon as my financial planner (husband!) says I can. I am 54. Lots of family need help...I feel like I have 2 full time jobs, so would like to ditch my nurse job and just be available for family. :)

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Retiring? Never....(hopefully, not until my mid-70's); Recently started working at a hospital in my mid-50's. GLAD to have group medical insurance instead of very-expensive, self-employed health insurance, glad to have accumulating vacation time, glad to have a day off and come back to "0" work accumulated work load for my day (self-employed; work load all fell on me).

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