California Healthcare News
Articles, Jobs and Consultants for the Healthcare Professional

Physician Retirement Planning: Unique Opportunities and Challenges

First few Article Sentences

When it comes to retirement planning, physicians have opportunities and challenges that are unique to their career paths. Compared to similarly compensated professionals, they generally have a higher level of job security and predictability of income as well as low unemployment rates. According to the Bureau of Labor Statistics, market demand for physicians and surgeons is projected to grow 18 percent over the next decade, well above the national average of 11 percent. Therefore, very few physicians face any substantial period of unemployment or loss of income once they begin working.

Physicians often get a late start on retirement savings due to extensive graduate studies and residency training. Moreover, most physicians have substantial student debt that must be addressed as soon as they begin working. The average debt among 2013 medical school graduates was $169,900 according to the AAMC. This burden reallocates money that might otherwise be put aside for retirement savings.

Richards, CFA, Darin

Rollins, CFP, Abbey

AKT Wealth Advisors LP

Physician Retirement

March 10, 2014

back to library