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Nearly Half of Physicians Fall Short of Recommended Retirement Savings Rates
FidelityLink to more items from this source
Dec. 2, 2015
"Despite strong average savings rates, nearly half (48 percent) of physicians are saving less than Fidelity's recommended savings rate of 15 percent with an average of only 9 percent.... Forty-eight percent are not maxing out their contributions to a qualified workplace plan ... a number that's even higher for female physicians (58 percent) than their male counterparts (45 percent).... Many pre-retirees (39 percent) are very aggressive in their equity allocation making their savings more susceptible to market fluctuations. At the same time, more than one-third of physicians in their 40s are conservatively allocated, thus limiting their potential for growth during their longer-term savings horizon."

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