Nearly 5,000 physicians ages 30 – 69 completed the survey. The report revealed the following findings.
- Only 6 percent of respondents felt “ahead of schedule” in saving for retirement.
- About half of respondents said they were “behind where they would like to be” in saving for retirement.
- 44 percent physicians surveyed between ages 60 – 69 would like $1 million more in their retirement savings at this point.
- 65 percent of physicians surveyed under age 40 would like $200,000 to $500,000 more in their retirement savings at this point.
- 51 percent of physicians between 60 and 69 had student loan debt after medical school.
- 74 percent of physicians ages 60 – 69 reported $50,000 or less in student loan debt.
- 73 percent of physicians under age 40 report leaving medical school with student loan debt.
- 70 percent of those physicians reported $100,000 or more in student loan debt.
- 83 percent of physicians under 40 are still paying their student loans.
- 25 percent of physicians between 40 and 59 are still paying student loans.
- 3 percent of physicians between 60 and 69 are still paying student loans.
- In hindsight, the majority of all physicians surveyed wished they had spent more time early in their career learning about financial planning.
More articles on integration and physician issues:
What concerns physicians about value-based care?
Survey takes pulse on future of medical education
Dr. Who? What happened when a CMO learned physicians weren’t introducing themselves to patients
Becker’s 3rd Annual Fall Chief Pharmacy Officer Summit is the top tier event that the people leading the future of pharmacy convene. This 3-day event is built specifically for Chief Pharmacy Officers and senior pharmacy leaders. The sessions examine the workforce, financial and clinical priorities shaping pharmacy today. Becker’s is where candid discussions flourish and new ideas thrive. Becker's 3rd Annual Fall Chief Pharmacy Officer Summit
