5 Top Mistakes That Could Derail Doctors' Retirement Plans

Joel Greenwald, MD, CFP

Disclosures

August 29, 2018

In This Article

Introduction

Retirement. For some doctors—those with young kids, school loans, and a hefty mortgage—the day they'll be able to close their office door is something they can't get their head around. Many of their older colleagues, however, may be in the process of winding down, and getting their finances in shape so that they can spend time taking classes, pursuing hobbies, hitting the golf course, or whatever it is they've envisioned life after medicine to be like.

As a former practicing internist who's married to a radiation oncologist, I have a unique perspective on how physicians handle their money and plan for retirement. While we would all like to think that we know enough to avoid financial mistakes, many physicians fall into traps when it comes to planning for retirement.

Here are the ones I've seen most commonly in my 20 years as a financial adviser.

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