1. Savings and Investments: Building a retirement fund through savings and investments is essential. Consider contributing to a 401(k) or IRA, taking advantage of employer matching programs, and exploring other investment options. 2. Pension Plans: Many nurses are eligible for pension plans through their employers. Understanding the details of your pension, including how much you will receive and when you can start drawing from it, is crucial. 3. Healthcare Costs: Healthcare can be one of the most significant expenses in retirement. Plan for medical expenses by considering options like long-term care insurance and Medicare. 4. Debt Management: Reduce or eliminate outstanding debts before retirement to lower your monthly expenses. 5. Lifestyle Planning: Determine what kind of lifestyle you want to maintain in retirement and the associated costs. This will help you set realistic savings goals.
