One quarter of female physicians have more than $1 million saved for retirement, including 4 percent who have more than $3 million saved, according to the study.
Other findings from the study are as follows:
1. Half of all women (and 72 percent of female physicians age 40 and under) believe physicians have unique and/or more complicated personal financial needs than other professions.
2. Financial concerns differ by age. However, “providing a comfortable retirement” is still the top goal for female physicians of all ages.
3. Female physicians who consider themselves “behind where they’d like to be” have less saved overall, less in an emergency fund, don’t use a professional planner and don’t feel adequately protected if they face a disabling accident or injury.
4. Seven percent of women who are physicians consider themselves “ahead of schedule” with their retirement savings.
5. The majority of female physicians (76 percent) believe they are only “somewhat” or “not very knowledgeable” about personal financial planning.
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