This represents general benchmarks for the first quarter of 2025.
The Importance of Benchmarking Doctors’ Compensation
By far a doctor’s largest asset is their income. However, often this asset is neglected. Your income is what allows you to realize wealth over time.
Let’s assume a doctor goes into practice at age 35 and retires at age 65. That provides them 30 years of earnings. To keep things simple, I’m showing numbers before adjusting for inflation, earnings growth, and taxes.
Doctors, Beware These Four Common Tax Missteps
The Latest on SAVE for PSLF: January 2025
Doctors, Here is Your 4th Quarter 2024: Benchmark Performance Update
The Longer-Term History of Stock Markets All Doctors Should Know
Doctors, Here is Your 3rd Quarter 2024: Benchmark Performance Update
The 6 Step Financial Check-Up for a Successful Residency Transition
Going into practice is a busy time in the career of a young physician or dentist. We get lots of questions about what they can do during this time to start off on the right track. One key to success is reviewing the data behind the decisions we make. In medicine, this could mean recognizing that your blood pressure is too high, therefore you change your\habits or medications to improve your overall health. Similarly, doing a “financial check-up” can ensure long-term success with money. The most pivotal time for a checkup is during the transitionary period of going into practice. We’ve broken the financial check-up into six key categories: