WISER's New Report Highlights Effective Financial Education Project For Nurses

In honor of National Nurses Week, WISER is pleased to release the final report from our Nurses’ Investor Education Project, a multi-year financial education initiative aiming to improve nurses’ financial security using educational tools, resources and peer-to-peer training and workshops. Read the report and press release.

A new report from the Women’s Institute for a Secure Retirement (WISER) and the American Nurses Association (ANA) highlights the effectiveness of a turn-key, peer-to-peer financial education program that is helping nurses across the country take action towards a secure financial future.

The Nurses’ Investor Education Project
is a multi-year initiative that prepares specially trained nurse educators to provide lessons in understanding basic financial planning and investment concepts to fellow nurses through in-person workshops. It also provides supplementary material that empowers nurses to deepen their financial knowledge and sophistication. 
 
To date, the project has trained 10 nurse educations who have conducted 29 workshops in five states, reaching more than 700 nurses directly, with thousands more benefiting from the print and online resources, including booklets, fact sheets, newsletters, podcasts and webinars.

While nurses are among the most educated and well paid segment of WISER’s usual target audience of working women needing to plan for their future financial security, they experience similar obstacles. The research shows that nurses know they should plan and save for retirement, but time, resources, and fear get in the way. They are, by and large, hindered with the same lack of basic investor knowledge as other working women.

In addition, nurses have the added obstacle of putting everyone else’s needs before their own. Their concern for the welfare of others is not just professional. They consistently report putting their children and families’ needs above their own. Many were taken aback when the project trainers encouraged them to fund their retirement before spending money on their children and grandchildren.

We learned from extensive pre-planning efforts that nurses are wary of “outsiders.” We determined that the best route to successfully engaging them in financial education was through trusted messengers. Co-branding the program with the Center for American Nurses brought near instant credibility. We partnered with nurse associations in five states: Maine, Missouri, Nebraska, South Dakota, and Virginia, and in each state we trained nurses themselves to run the financial workshops. It worked. Participants were engaged, open about their own experiences, and apprecia- tive that they were learning from a colleague – a known and trusted source.

To learn more about the project, visit www.wiserwomen.org

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