2015 Report on U.S. Physicians’ Financial Preparedness

The 2015 Report on U.S. Physicians’ Financial Preparedness: Young Physicians Segment paints a clear picture of the financial challenges young physicians face. They typically begin their first year of practice 10 years behind their undergraduate peers in other professions, having lost an estimated $71,000 in potential savings during those years of training. Then, as their income builds with a maturing career, so do their family responsibilities, and added to that, many are paying off a medical school debt of $150,000 to more than $200,000.² Young physicians cite their top personal financial concern as having enough money to retire followed by funding their children’s education – but they often have minimal savings. In short, they are at a financial crossroad as they jump-start their career. Read more on AMA Insurance