Retirement Planning
Retire on your terms. Not your hospital's.
Physicians start late, earn high, and face unique retirement obstacles, including student loans, high taxes, complex account structures. We build a strategy that accounts for all of it.
The Physician Retirement Gap
The math is harder for physicians. That's why the strategy has to be smarter.
By the time most physicians attend their first day as a full attending, their college roommates have been investing for over a decade. Three structural factors compound this disadvantage.
Average training delay
Physicians spend 11+ years in undergraduate, medical school, residency, and fellowship before earning an attending salary, years when other professionals are already compounding.
Average medical school debt
High loan payments during peak earning years divert capital that would otherwise be invested, further compressing the effective savings runway.
Federal marginal rate
Most attending physicians pay the top federal marginal rate, plus state taxes. Without proactive tax planning, a disproportionate share of every dollar earned goes to taxes rather than retirement.
The answer is not to panic. It is to be deliberate.
A physician who starts investing aggressively at 32 and leverages every available tax-advantaged account can still retire wealthy, often earlier than they expect. The math works. It just requires a plan.
Account Strategy
Retirement accounts for every stage of a physician's career.
The right accounts depend on your employment type, income, and career stage. We build a contribution hierarchy tailored to your specific situation.
401(k) / 403(b)
Max your employer plan first. $23,000 in 2024 ($30,500 if 50+), plus employer match. A 403(b) at an academic medical center and a 457(b) can stack for even greater deferral. We model the right contribution rate given your loan situation and other goals.
Backdoor Roth IRA
Most attending physicians exceed the direct Roth contribution income limit. The backdoor Roth (a non-deductible traditional IRA contribution followed by a conversion) is the workaround. $7,000 per year ($8,000 if 50+) that grows tax-free forever. We execute this for you annually.
SEP-IRA / Solo 401(k)
If you have self-employment income (1099 work, a private practice, a side clinic), you can contribute up to $69,000 in 2024 to a SEP-IRA or solo 401(k). The solo 401(k) also allows a backdoor Roth component. Stacked correctly, private-practice physicians can defer significantly more than employed peers.
Defined Benefit / Cash Balance Plan
For physicians in their 50s with a profitable practice, a defined benefit or cash balance plan can allow $100,000–$300,000+ in annual tax-deferred contributions. Actuarially determined, these plans front-load retirement savings dramatically and reduce your taxable income.
Start in Residency
The most powerful retirement move a resident can make.
Contributing even $200/month during residency, and locking in a backdoor Roth IRA at $7,000/year. That means you enter your attending years with investment accounts already compounding and habits already formed.
More importantly, residents who engage with their finances early almost always have a financial plan in place when the first large attending paycheck arrives. Without a plan, lifestyle inflation quietly absorbs the income jump that was supposed to accelerate wealth-building.
Start Your Plan as a ResidentLock in Roth contributions early
Roth accounts grow tax-free. Dollars contributed as a resident at the lowest tax rate you will ever pay are the most valuable dollars in your retirement portfolio.
Build the savings habit before attending income
Physicians who set savings rate targets in residency are far more likely to maintain them when income increases dramatically.
Count PSLF payments toward forgiveness
Every income-driven payment during residency at a qualifying employer counts toward 120 PSLF payments. Starting early is free progress.
Establish your financial foundation
A written financial plan in residency means you make the right decisions about loans, employer benefits, and account selection from day one of your attending career.