3 Financial Habits of Physicians Who Retire Early – Passive Income Article

You’ve dedicated years to your medical specialty, journeying from a resident to a fellow, attending, and possibly even establishing your own practice or partnering with others. After all this, why would I suggest shifting your focus?

Regardless of your specialty, there’s one universal aspect we must all consider: retirement. Preparing for retirement early can significantly benefit your financial health. Let’s explore how to master this.

Understanding Retirement

Retirement might seem distant, but with each year, it inches closer. As a medical professional, you’ll likely enjoy a comfortable income. However, the essence of planning lies in preparing for when this active income ceases. So, how do you gear up for retirement? Begin with improving your personal financial literacy.

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Dive Into Personal Finance

If retirement concerns seem overwhelming, know you’re not alone. A study by the AMA in 2016, U.S. Physician’s Financial Preparedness, revealed many physicians feel this way. Interestingly, this research also presented multiple strategies for retirement…