Retirement saving for PRN nurses with no benefits

THE PROBLEM

1. PRN pay, no safety net

• Higher hourly pay is commonBut benefits often aren't included
• No match means no free moneyFrom your employer
• So it's on you to saveHere's how

OPTION 1

2. Open your own IRA

• Anyone with earned income can open oneTraditional or Roth
• 2026 limit: $7,500Plus $1,100 more if you're 50+
• Roth: pay tax now, not laterTraditional: maybe a deduction now

Source: IRS.

OPTION 2

3. Ask about the work plan

• Some PRN staff can still join the 403(b)Even without other benefits
• Ask HR if PRN is eligibleAnd whether there's a match
• 2026 403(b) limit: $24,500On top of an IRA

Source: IRS.

1099 CONTRACTOR?

4. Self-employed? You have more options

• SEP IRA or solo 401(k)Plans built for the self-employed
• Set money aside for taxes tooNo employer withholds for you
• A CPA can help you chooseThe rules matter

Source: IRS Publication 560.

MAKE IT A HABIT

5. Automate it

• Pick a percentage of every PRN check
• Set an automatic transfer after payday
• Raise it when you pick up extra shifts

Educational only, not financial advice. Talk to a fee-only fiduciary or CPA about your situation.