Many physicians are in need of a financial cure, as they face a shortage of income in retirement despite being among the most highly paid professionals, according to a report from Fidelity Investments.
Based on Fidelity's analysis, released Thursday, physicians are on track to replace only 56 percent of their income in retirement, much lower than the income replacement rate of 71 percent Fidelity suggests for those earning more than $120,000 annually.
The disparity could be due to factors such as a shorter savings horizon, since physicians often don't start their careers until their 30s, and substantial student loan debt from undergraduate and medical school, Fidelity said.
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