That number far outpaces a June 2023 survey from Northwestern Mutual showing that most Amreicans estimate needing $1.3 million.
The average physician surveyed by Medscape currently has $3 million in savings, showing that the majority of physicians are well on their way to being able to afford retirement.
Most physicians (48%) do not plan to begin withdrawing from their Social Security benefits until they turn 70. Additionally, 28% of physicians plan to downsize their homes post-retirement to save money.
At the Becker’s 32nd Annual Meeting: The Business and Operations of ASCs, taking place October 29-31 in Chicago, ASC leaders, surgeons and healthcare executives will explore strategies to drive growth, enhance operational performance, navigate reimbursement challenges and prepare for the future of ambulatory surgery. Apply for complimentary registration now.