Randall & Hurley, Inc.
Loren D. Stark Company
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|Nearly Half of Physicians Fall Short of Recommended Retirement Savings Rates|
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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