9 things to know about cardiologists' personal finances

Cardiologists in the U.S. earn $438,000 on average per year, and 17 percent are still paying off student loans, a Medscape survey reveals.

Medscape collected information from 17,461 physicians in 30 specialties, including cardiologists, for the survey between Oct. 4, 2019 and Feb. 10.

Here are eight other notes on the personal finances of cardiologists:

1. Fifty-eight percent of cardiologists are paying off the mortgage on a primary residence, and about 27 percent have mortgages of more than $500,000.

2. Thirty-three percent of cardiologists are paying off car loan payments,

3. About 18 percent have credit card debt.

4. About 31 percent of cardiologists have three or four credit cards; 16 percent have more than seven credit cards.

5. Fifty-one percent of cardiologists put more than $2,000 into a tax-deferred retirement or college savings account monthly.

6. Thirty-nine percent put more than $2,000 into a taxable retirement or college savings account each month.

7. Seventy-five percent of cardiologists said they did not experience a financial loss last year, but 10 percent said they did face a financial loss due to bad investments or the stock market.

8. About 43 percent of cardiologists said they work with a financial planner.

More articles on cardiology:
Median pay for 5 cardiology subspecialties
Top 10 cardiology stories in August
SUNY Downstate faces 4th lawsuit alleging inadequate cardiac patient care, retaliation against surgeons

 

 

© Copyright ASC COMMUNICATIONS 2020. Interested in LINKING to or REPRINTING this content? View our policies by clicking here.

 

Featured Webinars

Featured Whitepapers