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Retirement age calculator image on www.drgeorgenecollins.comDeciding to retire from nursing is exciting and scary!  Calculating retirement age is not always clear-cut.  Everyone’s decision to retire is unique.  And if you are considering leaving the nursing profession, you may be interested in how to calculate your retirement age.  In this article, we’ll explore how to calculate retirement age.  Including using a retirement age calculator.


Ways to Calculate Retirement Age

Pre-retiree nurse on

As a nurse turned Financial Advisor, clients often ask what the best age is to retire.  And while the age at which you retire is important, finances play a big part in the decision.  That’s because retirement income can determine quality of life.  Because income is covered in many other posts, let’s focus on how to calculate retirement age.


Social Security Retirement Age Calculator

Retiring Nurse image on calculate retirement age blog post on www.drgeorgenecollins.comIf you worked as a nurse for most of your career, you probably will claim Social Security in retirement.  And a useful retirement age calculator is found on the Social Security website.  It is useful because a sound strategy to claim Social Security is important to your financial health.  And while you can claim as early as 62, your benefits increase each year you delay until 70.  In fact, for every year you delay claiming Social Security past 62, you increase your benefits by 8%.  If income is a major part of calculating retirement age for you, consider using the Social Security calculator.  If you want more precise information, including adjusting for inflation, consider using this Social Security retirement calculator.

Steps to Calculate Retirement Age

Let’s say, you’ve planned well for retirement.  You paid off debt.  You have retirement accounts.  You bought some annuities for income.  And you have some growth in your investments.  If you are in the group where you are not concerned about outliving your money, congratulations!  Now the next obvious question is at what age should you retire?  Let’s review some steps to calculate retirement age to help you plan.

Step 1:  Consider Your Retirement Readiness

Retirement is more than about having enough money to live on.  And while income is important, equally important is health and happiness.  So, step one is all about creating your ideal retirement.  Do you want to retire to spend more time with family and friends?  Maybe you want to continue working but differently than you’ve done in your nursing career.  For example, you may choose phased retirement or part-time work before transitioning to full retirement.

Step 2:  Consider Your Physical and Mental Health

Nursing is a rewarding profession, but it is also stressful.  Labor shortages, increase in patient ratios and demands, and rotating shifts can cause mental and physical stress.  And if you are facing a chronic illness while working, you may want to consider these factors when calculating your retirement age.

Step 3:  Pick a Date

Once you have considered your finances and what retirement life looks like for you, pick a date to retire.  Keep inRetirement Age Calculator on mind, this date is fluid and may change as you proceed towards retirement.  When you pick your date, consider speaking with your Human Resources department as soon as possible to learn about transitioning your benefits.  One important benefit to consider is your health insurance, if you are not eligible for Medicare.  You might also consider discussing transitioning your retirement account and learning all you can about your other benefits.


The decision to retire is highly personal.  Consider your financial, emotional, and physical readiness.  Also, think about your ideal retirement lifestyle.  By taking the time to calculate your retirement age and plan accordingly, you can look forward to a fulfilling and comfortable retirement.  Consider speaking with a Financial Advisor to help guide you in calculating your ideal retirement age.

Want to learn if you are ready for retirement?  Take the Retirement Readiness Assessment.

Ready to take control of your finances?  Contact me.

Georgene Collins

Georgene Collins, RICP®, RN, PhD, MBA is a registered nurse turned Financial Advisor at Airey Financial Group. Georgene helps other nurses take control of their finances and prepare for retirement. Georgene began her career with Airey Financial Group in 2017 after retiring from 30 years in healthcare. Georgene holds the Retirement Income Certified Professional (RICP®) designation from The American College of Financial Services. She holds health and life insurance licenses and a long-term care certificate in Indiana and Illinois. Georgene is a Registered Representative and Investment Advisor Representative and has earned the FINRA Series 63 and 65 registrations.