PHYSICIANS NEEDN'T BE L ATE IN
THEIR CAREERS TO ENJOY THE SENSE
THAT THE Y ARE ON A FA ST TR ACK TO
RE TIREMENT SECURIT Y.
How to Feel Ahead of
the Retirement Game
BY STEVE BARRETT
APPROXIMATELY 10 PERCENT of physicians in their 30s
and 40s say their retirement plans are ahead of schedule,
according to a recent survey by AMA Insurance, so an early
sense of security may be the exception but it's plainly not
an impossibility.
Here are a few characteristics the survey found regarding
clinicians who believe they are on their way to living the
post-career lives they want:
+
They lean on the experts. Nearly seven in 10 have a
professional fi nancial adviser. Fewer than half who feel
behind use an adviser.
+
They limit debt. Roughly 55 percent of the fi nancially
confi dent physicians carry consumer debt, compared with
almost 90 percent of physicians who believe they have
signifi cant ground to make up.
+
They save. Four out of fi ve physicians who consider them-
selves ahead of the game make the maximum contribution
to a 401k or 403b, compared with only about half of those
who are behind.
+
They think ahead. Physicians who are on a fast clip toward
a secure retirement are twice as likely to have in place things
such as an updated will or end-of-life directive. ■
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