Story at-a-glance Physicians often invest too cautiously, which can limit long-term growth and jeopardize retirement readiness.With less time to save and longer retirements ahead, physicians must overcome inflation’s impact on purchasing power.Safe investments may feel secure, but returns that
Physician’s Retirement Savings Threatened by Long Term Care Costs
Story at-a-glance 1 in 2 people over age 74 will need long-term care, and costs can exceed $7,000/month—quickly draining retirement savings.Medicare offers limited coverage, and Medicaid only kicks in after nearly all assets are spent down.Middle- and upper-middle-income physicians are most at
The Biggest Investment Mistake Physicians Make
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
Top 4 Financial Mistakes Young Physicians Make
Story at-a-glance Skipping a budget leads to overspending—build the habit early to gain control and create room for both needs and wants.No emergency fund = financial setbacks—aim to set aside $500/month to prepare for life’s inevitable surprises.Credit card misuse is a silent trap—use only
Helpful Life Insurance Advice for Physicians
Story at-a-glance Buy life insurance for the right reason—to give your family financial stability, not just to check a box.Don’t guess your coverage needs—use a personalized needs analysis that factors in debt, income, family goals, and future obligations.Work with a trusted, independent
Debt Management for Physicians
Story at-a-glance Start with a strict budget—track spending, prioritize debt reduction, and cut non-essentials to free up cash.Commit to paying down debt by at least 5% per month, and avoid using credit cards for anything but true emergencies.Build savings alongside debt payments—aim for a
Are Annuities Right For Physicians?
Story at-a-glance Annuities offer guaranteed income and principal protection, making them attractive during times of market uncertainty.Tax deferral can benefit high-income physicians, especially those already maxing out their qualified retirement contributions.Annuities are long-term
How New Physicians Can Achieve Savings Success
Story at-a-glance Saving with purpose is more motivating than saving “just because”—tie each dollar to a goal to stay consistent.Set up separate online savings accounts for specific goals like a home, car, emergency fund, or retirement.Track each goal individually, adjusting contributions as