Story at-a-glance Physicians can save big with 401(k) and 403(b) plans – Tax-deferred growth and employer matching are powerful wealth-building tools.Maximize contributions early – In 2024, you can contribute up to $23,000 (or $30,500 if over 50).Diversify and rebalance – Choose a mix of

Story at-a-glance Waiting too long to start investing can cost doctors years of compounding growth—especially when tax-advantaged accounts like Roth IRAs and 401(k)s are available early in their careers.Overconfidence leads to bad investments—many physicians assume their intelligence transfers

Story at-a-glance Physicians are saving more—but still face common retirement "gotchas" that can derail even strong financial plans.Many underestimate how expensive retirement really is, especially with rising health costs, long-term care, and hidden expenses like adult children or home

Story at-a-glance Market timing and stock picking rarely work—many physicians learn the hard way that these strategies add risk and reduce returns.Diversification helps reduce volatility by spreading risk across asset classes, sectors, and global markets.Proper diversification includes more

Story at-a-glance Lack of a clear investment strategy is the most common—and costly—mistake physicians make when planning for retirement or long-term goals.Emotional investing leads to bad timing, like buying high in booms and selling low in crashes—often with lasting financial damage.Avoid

Story at-a-glance Physicians need expert guidance—not just DIY tools—when navigating today’s complex financial markets.Not all “advisors” are created equal—some work for financial firms and sell products, while others are paid solely by their clients to give objective advice.Fee-only advisors

Story at-a-glance Your investment strategy should evolve with your career stage – From training to retirement, physicians’ goals, risk tolerance, and time horizons shift, requiring tailored asset allocation.Early career = growth focus – Younger physicians typically benefit from higher-risk,

Story at-a-glance 1 in 5 U.S. physicians is over age 65, facing rising health risks while continuing to practice.Common conditions like cognitive decline, chronic illness, and mobility issues can disrupt a medical career.Longer careers mean greater risk of disability—yet many doctors can’t