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What is your plan for retirement?

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Hi everyone, especially the over the hill crowd. One of our hospital's beloved nurses, who worked until 67, just died after being retired for only 2 years. I followed her on Facebook, she was really enjoying her retirement, her family, going on sightseeing trips around the state, attending sports events.

It really makes me reconsider my plans. We don't know how long we are going to live, do we? I'm 56 years old and I'm relatively financially secure. My last child is going off to college next year. I'm thinking of aiming for age 62 by really getting things in order the next 6 years. I can always pick up Per Diem work after retirement. I'd like to stay connected to nursing, but I'm thinking maybe working full time to 67 isn't such a great idea.

We nurses often work ourselves to the bone, and often are so busy taking care of everyone else in our lives, neglect ourselves. Also, in our consumer society, a lot of us self-medicate by spending money and accruing debt. We neglect our own health, not exercising, eating wrong, and being too stressed shouldering too heavy of a burden. Then, we aren't ready for retirement, often because of poor financial management.

I'd love to hear what others have to say about this.

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Consider yourself fortunate. I am 53 and unless I win big in the lottery, I will NOT be retiring. Period.

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I am 20s and wanting to do a personal IRA or invest when financially stable

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In July, I will be 62, also I will be retiring. I've never had a ton of money, so I know how to do alot with a little. 33 1/2 years is enough. I've always loved being a nurse, but it's time for me!:sarcastic:

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I'm still young, but I'm putting in as much money as possible into retirement. Money comes, money goes - but it absolutely terrifies me that money won't really be coming in once you retire. It just goes. :nailbiting:

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I am 20s and wanting to do a personal IRA or invest when financially stable

You never will be. Start now! The earlier you start the better your returns will be. Even if it is small amounts now, every little bit helps. DO NO PLAY CATCH UP!!

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You never will be. Start now! The earlier you start the better your returns will be. Even if it is small amounts now' date=' every little bit helps. DO NO PLAY CATCH UP!![/quote']

Agree with this. I'm only 23 but I put $100/month into a retirement savings plan. It's not much, but it's something.

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I agree.

I worked at one time at the same hospital as this person. Didn't really know her other than to know who she was but recognized her name in the obits.

All kinds of education, diploma, degrees, including MSN, and certifications, worked all kinds of jobs, DON, etc. etc., belonged to all kinds of nursing societies and community service.

Had a family.

I don't know if she was still working or not, the obit didn't say.

One paragraph dedicated to the family, and four paragraphs dedicated to all her accomplishments.

Dead at 65.

So, yeah, if you can manage it, I agree, retire sooner rather than later, and do what you want while you are still

young enough and physically able to.

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Quitting next year at 59 1/2. DH will be 63. I've always wanted to sail my boat around the world, so we're going to sea next year. We were going to wait until I was 62, but after two years of health issues, I'm afraid to wait any longer. We're going.

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I am 43 and thankfully pretty well set financially. I couldn't retire next year or anything, but if I want to retire in my 50s I should be able to without having to really change my lifestyle. That being said, I can't imagine wanting to retire that early right now. I am sure my perspective will change as my kids move out and my body really starts to age, but having come into nursing later in life, it really is my personal fulfillment on a lot of levels.

The key for us has been careful money management and sound investments. We lost our shirts in the downfall a few years back as well as several jobs. Thankfully our conservative living meant we didn't have to change our standard of living through those events. Now we are fully recovered from the losses in our investments and back to making decent money after recovering from the years of frightening unemployment. Hoping others are starting to see things picking up for them as well. Going through that taught us a lot about what we are willing and not willing to spend money on. This in turn has helped our savings add up fast now that we are both earning a decent living again.

Edited by not.done.yet

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My mother was destitute in her old age, for a variety of reasons. My father scrimped and saved, took care of his health, accumulated a sizeable retirement nest egg, and died 3 months in.

I have a 401(k) and contribute to an IRA, but I also know that nothing is guaranteed. I plan to enjoy life today, instead of waiting for a day that may never come. The way things are now, I don't expect Social Security to be there when I need it.

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Agree with this. I'm only 23 but I put $100/month into a retirement savings plan. It's not much, but it's something.

And you can start one of your own; you never know if you may change jobs, become an independent contractor, etc.

Have one and have the freedom to put as much money into it! :yes:

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