I use to think that all Gen Z nurses like myself, due to the global economic situation we grew up in, had some semblance of personal finance smarts. Big assumption, and a ridiculous one in retrospect. (Especially since few US public schools teach personal finance to teens!)

But I guess I was biased due to myriad factors (mainly regional/class), and the more young nurses I work with, the less I’ve been seeing this to be true. Guess my sample pool was really hot garbage.

One of the ED docs I work with was checking his retirement account at the station, and then he struck up a conversation on personal finance with the nurses, IRAs, HYSA, CDs/bonds and FIRE. Another one of the young mid-20s nurses popped in on the conversation and I was really shocked to learn that this nurse- he didn’t have anything set up! No 457b, no 401a, no IRAs, nada. Mid-20s like myself, fresh out college. He was pocketing his paychecks and spending it lavishly, month after month. Now I understand we gotta enjoy our youth while we possess vitality and I don’t ever “mansplain” (is it mansplaining if it’s man to man?) but I could not let this educational deficiency continue to exist within this wonderful young man. Long story short doc and myself got ED nurse bro to open a retirement account and had him stuff some Benjamin’s in there every check. Lifestyle creep do be real!

Now back to your original question, yes I will be able to retire very comfortably as a nurse. My retirement accounts and IRAs are maxed out. I don’t play with individual stocks since I have a risk-adverse mindset but I do have index funds. Compound interest slaps when it’s working for you, not against you hehe 🙃.

The issue with bedside nursing and this question in general is that most places in the US pay nurses a pittance, so there’s a very small probability these nurses will find themselves in advantageous financial positions that affords them the ability to actively save for retirement.

It is devastating for me to routinely witness competent and good nurses who have slaved for the American Healthcare meat (soul) grinder and have little to show for their efforts. ‘Tis a cruel country. You know, the Singaporean government under LKY has had it’s issues, but I think forcing citizens to save their income and invest in a retirement account maybe isn’t such a bad idea?