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If you are among the more than 1 million nurses expected to retire by 2030 , you may be wondering about retirement income.  As a nurse, you dedicate your life to caring for others.  And as you plan your future, caring for your finances is equally, if not more important.  In this blog post, we’ll explore common retirement income sources that aim to help set you up for success in your life after nursing!



During my nursing career,  caring for my finances was secondary to my responsibilities.  And because I loved being a nurse, I often overlooked retirement income planning.  I never considered retiring.  But that was a mistake I learned the hard way.  With age and grandchildren, leaving nursing became a reality.  But because I did not plan well, I had to find retirement income sources.

Retirement income for nurses includes considering available sources and designing strategies to meet your financial goals.  Retirement planning is an essential part of your nursing career.  Planning for enough retirement income relies on knowing which sources can help give you the lifestyle you want.  Let’s explore some common sources of retirement income to help you plan.

Employer Retirement Plan

Many employers offer retirement plans.  These may include 401(k) or 403(b), IRAs, pensions, or other employer-sponsored plans. Many employers also offer matching contribution plans.  This is free money to you.  Starting early and taking advantage of your employer retirement plan is important to allow your money to potentially grow over time.  Consider talking with your Human Resources department to learn more about your employer retirement plan to learn about its benefits.

Social Security

Social Security is a major source of retirement income for many.  And it is important to consider when to take SocialSocial Security Benefit image on Retirement Income Blog Post on Security to optimize your full benefits.  While you may be eligible for benefits at 62, there are advantages to delaying Social Security to full retirement agent.  Navigating the application process and optimizing benefits require careful planning.  A Financial Advisor can help you plan for when to take your Social Security benefits.  You can also learn more about Social Security at


Annuities are another source of income in retirement.  Once having a bad reputation, annuities have improved as a supplement to other retirement income sources.  Annuities are a contract with an insurance company.  You pay a premium and the insurance company gives you a stream of payments in return.  Your payment stream depends on the type of annuity you choose.  A fixed annuity is considered stable, but often pays a lower interest rate.  Variable annuities usually pay higher interest rates, but they also carry risk.  Your Financial Advisor can help you decide if an annuity aligns with your retirement goals.


When considering investments for retirement income, it’s important to weigh the pros and cons.  For example, stocks have the potential for high returns and hedging against inflation.  In comparison, bonds generally carry a lower risk and help hedge against market volatility.  Whereas mutual funds offer potential diversification and professional management.  But keep in mind, whether you choose stocks, bonds, mutual funds, or another asset, investing carries risk, including losing all your initial investment and your gains.  Depending on your risk tolerance, investing may or may not be the right choice for you.  Consider speaking with a Financial Advisor to help you decide if investing is a suitable strategy for your retirement income planning.

Working in Retirement

Retirement Income Image for Retirement Income blog post on www.drgeorgenecollins.comPart-time work or freelance opportunities are also potential retirement income sources.  Using your nursing experience or learning new skills has many benefits in retirement.  One of which is helping you meet your retirement income goals.




Retirement income is an important part of your overall financial plan.  Retirement income planning involves considering all available sources and choosing those that align with your needs.  Planning early and understanding various income sources can help you meet your retirement lifestyle goals.  Consider speaking with a Financial Advisor to help you decide which retirement income strategy is best for you.

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

Ready to take control of your finances?  Contact me.


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Categories: Retirement Income

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.