Are personal financial needs for physicians more complicated than others? 5 statistics

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.

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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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