Manage episode 317347483 series 2950605
For physicians, retirement may be little more than a byproduct of a life well-lived since the work you do can bring meaning and purpose to your everyday existence. Still, it's a good idea to give some thought to life after medicine, and even ask how much you should be saving for retirement. Given the complexities, it's easy to reach for a rule of thumb about saving but that might not be the best approach. Tune in as we answer a listener's question about how much to save. We'll explore how your unique situation should determine how you answer the question for yourself and your family.
ASK A QUESTION
Send your questions about taxes, investing, extra money, retirement, college and financial parenting to email@example.com or call the Physician Family Answer Line at (503) 308-8733.
IN THIS EPISODE
- [01:10] How much should doctors save for retirement?
- [01:48] Why it’s important for doctors to find their number for their retirement goals.
- [08:33] Many retirees have goals to travel. How would those goals impact their necessary savings?
- [10:40] How can housing affect retirement savings?
- [11:18] Many doctors forget to consider healthcare costs when they create their retirement plan.
- [12:42] Family plays a huge factor in savings rates for retirement plans.
- [15:49] Where did the standard “20%” come from?
- [19:59] When you start to save for retirement and when you consider what retirement will be like those are two very different things.
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