Here are six numbers from Medscape’s “Physicians Eye Retirement 2023 Report” that offer a snapshot into physician retirement. The report included 1,017 respondents across 29 specialities.
1. Twenty-eight percent of physicians plan to retire in their mid to late 60s.
2. Forty-eight percent of physicians who are retiring plan to start drawing Social Security benefits at age 70.
3. Seventy-four percent of physicians want to retire at the age they’ve targeted due to burnout from medicine.
4. Sixty-seven percent of physicians are extremely or very confident that retirement life will be rewarding.
5. Eighty-four percent of physicians plan to spend their time and money traveling in retirement.
6. Physicians surveyed have $3 million saved for retirement today.
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