Arizona is the worst state for physicians to reach financial independence, drawn from factors including average salary, state taxes, cost of living and malpractice environment, according to a recent blog post from Marit Health.
Here’s a breakdown of the 10 worst states for physicians to reach financial independence:
1. Hawaii
Average salary: $364,000
Estimated years to financial independence: 62.8 years
State taxes: 11%
Cost of living: Unfavorable
Quality of life: Unfavorable
Malpractice environment: Neutral
2. Rhode Island
Average salary: $324,000
Estimated years to financial independence: 24.2 years
State taxes: 5.99%
Cost of living: Unfavorable
Quality of life: Neutral
Malpractice environment: Neutral
3. Maryland
Average salary: $328,000
Estimated years to financial independence: 21.5 years
State taxes: 5.75%
Cost of living: Neutral
Quality of life: Unfavorable
Malpractice environment: Neutral
4. California
Average salary: $447,000
Estimated years to financial independence: 25.3 years
State taxes: 13.3%
Cost of living: Unfavorable
Quality of life: Unfavorable
Malpractice environment: Favorable
5. New Mexico
Average salary: $365,000
Estimated years to financial independence: 16.3 years
State taxes: 5.9%
Cost of living: Neutral
Quality of life: Neutral
Malpractice environment: Unfavorable
6. Vermont
Average salary: $383,000
Estimated years to financial independence: 20.5 years
State taxes: 8.75%
Cost of living: Unfavorable
Quality of life: Neutral
Malpractice environment: Favorable
7. Oregon
Average salary: $451,000
Estimated years to financial independence: 16.8 years
State taxes: 9.9%
Cost of living: Unfavorable
Quality of life: Unfavorable
Malpractice environment: Neutral
8. Delaware
Average salary: $445,000
Estimated years to financial independence: 15.0 years
State taxes: 6.6%
Cost of living: Unfavorable
Quality of life: Unfavorable
Malpractice environment: Unfavorable
9. Alaska
Average salary: $465,000
Estimated years to financial independence: 14.3 years
State taxes: 0%
Cost of living: Favorable
Quality of life: Unfavorable
Malpractice environment: Unfavorable
10. Arizona
Average salary: $439,000
Estimated years to financial independence: 13.4 years
State taxes: 4.5%
Cost of living: Neutral
Quality of life: Neutral
Malpractice environment: Unfavorable
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