Most doctors beginning their medical careers won’t have the luxury of selling a practice, office building or an associated business to fund their retirements. Instead, they’ll be retiring as employees of large groups or hospital systems. Making matters worse: Wages are expected to be flat for the foreseeable future, and retirement plans being offered by employers are nowhere near adequate. Learn how to: determine how much to save to live comfortably after retiring; navigate defined contribution and defined benefit plans; assess the risks of inflation to your salary and savings; take advantage of having access to a 457 plan; and prepare for worst-case scenarios. In the past, physicians could accumulate wealth without great effort, but younger physicians will have to plan ahead and think hard about lifestyle decisions to ensure they can live comfortably in retirement. Filled with examples, easy-to-understand math, and up-to-date data, this informative and useful guide will help you take the right steps to ensure a secure retirement.
