Should I retire now or wait 5 more years until I am 65? I have been a nurse for 32 years & I currently have a per diem job however, I am extremely burned out with the direction of the Nursing profession in general...Any advice is greatly appreciated!
Depends on where you live.
Here is my story: If I had retired at 65 3/4, I would have earned ~$2800/mo from Social Security. By not taking out my Social Security out until I was 70 years old, now at the age of 72 years old, I make ~$4400/mo. I have a small pension and a small 401K to help subsidize my current income.
I tried retirement at 70 and that lasted 3 months; I hated it! I returned to work full-time in an ambulatory surgery center. I have a wonderful boss and amazing co-workers. I work as the Clinical Director and we just finished a renovation. I spent 50+ years in hospital administration across the country and you are right in that nursing is becoming different and sometimes more difficult; many nurses are becoming burned out. I was close but not anymore! So now, I have my social security, pension, 401K and my salary to live on. I am blessed beyond measure.
If you can financially afford to retire at 60 years old and you have a plan on how to enjoy your retirement (which I did), then maybe now is a good time. Financial concerns need to be carefully considered first and foremost. Your health is next. Then, how are you going to maintain your legacy, what are you going to do with your time and resources?
As for me, I hope to never stop working! I have a wonderful family that I see daily, I volunteer teach art to third graders every week, I travel a bit, I read like there is no tomorrow and I paint!
Best of luck on your journey! In the end, it is what you make of it!
I would say that if u can afford to retire with the cost of living and Medicare etc go for it
If u r burned out and weary of direction practice is going you put yourself at risk to say something or do something that could affect your license
Better to retire sooner with license intact than not
The politics of current health care was deciding factor for me to retire
Good luck
It depends entirely on your financial situation at this point. Everyone is different.
If you have enough saved that you can cover all your expenses without applying for Social Security until at least 65, that would be the best option. Otherwise, your benefits will be significantly reduced and that will be for lifetime, not "catching up" once you turn 65. If not, I would find a way to plan for the next 5 years as a retirement date. It really does make a huge difference!
If you do, ... and I'd recommend speaking with a financial professional about it ... then it becomes a personal choice. Take a hard look at what you have as income, savings, etc., and your actual bills today .. and how they might change if you retire.
I totally get your sentiments though. I retired 18 months early due to the absolute Insanity that was happening, so I get it! There was NO way I was going to "comply". Thankfully, I had enough of a cushion, I was originally going to retire at 66.4 years, but went just before my 65th birthday and didn't apply till after I was 65. The difference for me between the two wasn't enough to make a difference for me, so I consider myself very fortunate that I was able to do it.
Hopefully, you'll find the right answer for your situation. Good luck!
I want to start by appreciating you because I mean you have come a long way because I’m a nurse though your junior colleague so for you to have uphold this great profession for 32years is really amazing.
You are talking about retiring and you made mention that you are already 60 I think 60years is the idea age for retirement but if you still have like five more extra years to complete yours I will encourage and advise you to just try cos you are already doing well so to complete the course that you started 32years ago truly your celebration will know no end and the filling of completeness will live in you all the rest of your golden life
But on the other hand if you feel the stressful job of nursing care your body can no longer carry it please you can bow out honorably so as to take care of yourself okk
Thank you Ma @My thought tv
Try not to work too many days...and then take excursions..and if you feel drawn to a place take a travel assignment...
I am in exactly in the same boat...33 years of ER/trauma and I am stick a fork in it...done. I am 64.
