A majority of physicians believe that their personal financial needs are different from those in other professions, according to the 2014 Employed Physicians Financial Preparedness Report by AMA Insurance.
The survey includes responses from 2,073 U.S. physicians.
Some of the reasons physicians have more complicated or unique financial needs as compared to other professions, according to respondents, are:
• Begin careers later than other professions — 84 percent
• Concerns over malpractice and other liability risks — 56 percent
• Medical school debt repayment delays savings — 53 percent
• Lack of time to spend learning about financial issues — 51 percent
• Not as financially savvy as other professions — 28 percent
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