Which Physician Specialties Retire Early?

November 27, 2024April 6, 2021 by Justin Nabity

Though it sometimes doesn’t seem feasible, physician retirement is possible. And for physicians in certain specialties, retiring early isn’t just a dream — it’s a reality.

Some specialties, particularly those with a shortage of physicians, have a high rate of doctors well over retirement age.

Yet, others tend to see physicians retiring earlier in their careers.

Whether you’re a medical school student deciding on a specialty or a practicing physician who has been planning for decades, there are some ways to retire earlier than you may think.

Today we’ll answer the question that so many physicians, residents, and medical students want to know:

Which physician specialties retire early?

Medical School Loan Repayment

November 28, 2022March 9, 2021 by Justin Nabity

After college, medical school, and residency, you’re finally ready to get to work as a practicing physician. You should be excited that you’ve reached the point in life where you can actually begin your career. But many physicians don’t feel that excitement because they’re faced with the heavy burden of paying back student loans.

Unfortunately, that debt isn’t going to miraculously disappear on its own.

Fortunately, there are a variety of different approaches you can take to making those loans a thing of the past.

From refinancing to seeking loan forgiveness to working in a healthcare shortage area, there are a variety of steps that you can take to eradicate your debt.

Here is our physician guide on medical school loan repayment.

Beginner’s Guide to Physician Tax Planning

October 13, 2022December 13, 2020 by Justin Nabity

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For new doctors, the transition from medical resident to attending physician often brings a nearly four-fold salary increase. This pay hike can come as a great relief for a young physician. However it also raises new questions about taxes, investments, and long-term savings. To plan for their increased tax burden, doctors should consult with a … Read more

Compensation: Comparing the Top Reports of 2020

January 3, 2025December 4, 2020 by Justin Nabity

As we approach the end of the year, millions of healthcare professionals are reflecting on their financial year. The COVID-19 pandemic has disrupted virtually every aspect of social and economic life in the United States. Therefore, it is an especially important time to think about how best to preserve your financial health moving forward. There … Read more

Webinar: Exploring Medical Specialties

January 3, 2025November 13, 2020 by Justin Nabity

What to Think About and What it Takes Join Dr. David Flick and Justin Nabity as they discuss the difference in medical specialties, how residencies compare for different paths, and different financial factors to consider. In this webinar, you will learn: The work-life balance of becoming a physician. Which specialties are the most competitive. How … Read more

Car Buying for New Attending Physicians

January 3, 2025November 10, 2020 by Justin Nabity

If you’re a physician or doctor who recently graduated, chances are you’ve been told repeatedly to “live like a resident even as an attending for a few more years.” But that does not change the urge to spend some of your new hard-earned salary. While many young professionals struggle to achieve the perfect balance of … Read more

Webinar: A Crash-Course in Paying for Medical School: 10 Ways You Could Save $10,000

January 3, 2025October 30, 2020 by Justin Nabity

Webinar: A Crash-Course in Paying for Medical School: 10 Ways You Could Save $10,000 Join the founder and CEO of Physicians Thrive, Justin Nabity, and aspiring physician Selena as they discuss what pre-med or current medical students may not be considering when it comes to paying for medical school. In this webinar, you will learn: … Read more

A Physician’s Guide to Student Loan Forgiveness

March 19, 2025October 29, 2020 by Justin Nabity

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A Physician’s Guide to Student Loan Forgiveness Each year, thousands of physicians decide to pursue a loan forgiveness or assistance program to ease the burden of their student debt. While the appeal of these programs is obvious, many of the requirements, restrictions, and fine print are not nearly as transparent. For doctors who are counting … Read more

What Physicians Should Know About 457 b Deferred Compensation Plans

October 18, 2022October 12, 2020 by Justin Nabity

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You’re never too young to invest in a sound retirement plan. Most physicians are around 30 by the time they finish training and start practicing medicine. Getting that later start makes it crucial that you start saving for retirement early on in your career.

But with so many investment options and retirement plans to choose from, it can be difficult to determine which one is best.

Most physicians working as employees of large hospital groups will have the opportunity to invest in a 403b or 401k. Many physicians working for governments and tax-exempt organizations will have the opportunity to invest in a 457(b) plan instead.

Not sure how the 457(b) works?

Here’s what physicians should know about 457(b) deferred compensation plans.

The Complete Guide to Physician Retirement Planning

June 20, 2023October 1, 2020 by Justin Nabity

If you want to enjoy your retirement years, you’ll need to have a savings plan in place. Because doctors are some of the highest-earning Americans, most new physicians assume that saving is easy.

However, that’s not necessarily the case. Unless you establish a solid retirement plan, you might not have enough to support yourself in your golden years. Among every age group of physicians, this is the #1 concern when surveyed according to the 2018 Report on U.S. Physicians’ Financial Preparedness.

Physician retirement planning can be complicated. With so many options to choose from, deciding on how to invest your money can be overwhelming. From 401(k) plans to IRAs and stocks, there are many different ways to save for your future.

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