81% of physicians in their 30s are paying off medical debt & 6 other findings

American Medical Association sent a survey to nearly 127,000 physicians to learn about their personal financial attitudes and behaviors.

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Here are seven findings:

1. Physicians said their primary personal financial goal was to have sufficient money for a comfortable retirement for both themselves and their spouse.

2. A top concern was ensuring they had ample savings to last their retirement.

3. Eighty-seven percent of physicians have a 401k/403b plan.

4. More than half (65 percent) of physicians have maxed out their contribution every year.

5. Ten percent of physicians have business loans and 17 percent have line of credit.

6. Eighty-one perform of physicians in their 30s are still paying medical school debt, compared to 48 percent in their 40s.

7. Of physicians in their 60s, 67 percent have a professional financial planner compared to 45 percent of physicians in their 30s.

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