6 financial instruments physicians have in place for retirement savings

Most employed physicians have a 401(k) in place for their retirement savings, according to the 2014 Employed Physicians Financial Preparedness Report by AMA Insurance.

The survey includes responses from 2,073 U.S. physicians.

When asked which financial instruments they have in place for retirement savings:

•    401(k) — 81 percent
•    Traditional IRA — 50 percent
•    Roth IRA — 34 percent
•    Other, such as a 403B — 26 percent
•    Simplified employee pension plan — 25 percent
•    Profit sharing plan — 11 percent

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