Report: Employed physicians worry about retirement

Employed physicians—now comprising 59% of all U.S. physicians—have their own set of personal financial challenges, in part due to their employment status. In a report released earlier this week, AMA Insurance, a subsidiary of the AMA, offered the findings of a survey conducted in May to understand physician’s attitudes and behavior in relation to financial preparedness. The report found:

• 42% consider themselves “behind where they’d like to be” in saving for retirement and 44% report they have less than $500,000 saved for retirement
• Long-term care expenses are a top concern for employed physicians, second only to having enough savings to retire

Source: AMA Insurance