What's the Health of Doctors' Investments?
the MPR take:
They may know how to treat their patients, but how well do they treat their financial future? Fidelity Investments looked at investment information from over 5,000 physicians and found some alarming trends. Because of their delayed entry into the workforce due to education and training, doctors are often late in starting investments for retirement. Many are also burdened with student loan debt and do not max out their 401(k)s contribution limits, which are up to $17,500 annually. It is recommended that physicians make modest adjustments to stock/bond allocations and use target-date funds recommended for their age group.
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