What are the Key Elements of a Retirement Plan for Nurses?
A comprehensive retirement plan for nurses should include the following elements:
1. Savings Accounts: Utilize traditional or Roth IRAs and 401(k) plans. 2. Investments: Diversify investments in stocks, bonds, and mutual funds. 3. Emergency Fund: Maintain an emergency fund to cover unexpected expenses. 4. Healthcare Costs: Plan for health insurance and long-term care. 5. Social Security: Understand how Social Security benefits work and when to claim them.
