Seventy percent of physicians plan to work longer until retirement due to the economic downturn and depleted personal savings, according to the Jackson & Coker Retirement Survey.
Fifty-two percent of physicians have changed their retirement plans since the economic recession, while 48 percent have not. Of those who changed their plans, 25 percent said locum tenens work is the most appealing while another 21 percent plan to continue working at their current pace with their current employer. Fourteen percent plan to leave medicine and try something new.
Forty-six percent of surveyed physicians plan to work past retirement due to a depletion of their personal savings or stunted personal savings that did “not build as quickly as anticipated.” Other reasons cited include a change in mind or taking pleasure in the work (11 percent), family or personal concerns (7 percent) and healthcare reform (6 percent).
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