6 financial instruments physicians have in place for retirement savings

Most employed physicians have a 401(k) in place for their retirement savings, according to the 2014 Employed Physicians Financial Preparedness Report by AMA Insurance.

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The survey includes responses from 2,073 U.S. physicians.

 

When asked which financial instruments they have in place for retirement savings:

 

•    401(k) — 81 percent
•    Traditional IRA — 50 percent
•    Roth IRA — 34 percent
•    Other, such as a 403B — 26 percent
•    Simplified employee pension plan — 25 percent
•    Profit sharing plan — 11 percent

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