Average net worth of a doctor in the age of 50?

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Hookersandblow

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Hey,

What is the average net worth of a doctor?

What is the average net worth of a doctor that invests reasonably and thus lives modest?

What is the average net worth of a doctor that invests excessively (>50 % gross income invested) and thus lives very frugally?

Age of physicians in these examples: 50

?

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Lets see average physician salary of roughly 270k per year. They get out of residency at age 31-32 on the average. Roughly 18-20 years to invest. 33% effective tax rate would be my assumption. That leaves 170-180k after taxes. Best case scenario would be 90k in savings (50%) per year for 20 years. Assuming consevative 5% returns in the market you are looking at 2.8 million by age of 50. Most likely an average 50 year old doctor has 1.5- 2 million in net worth if they invest reasonably (30%) and live modestly.
 
One more thing. Most physicians are losing out in the net worth race in America. Our salaries are not keeping up with inflation. Just one stat will bring it home for you. Most physicians are not even in the top 5% nationally in terms of net worth. The finance guys, tech guys and small business guys have outdone physicians in terms of net worth.
 
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One more thing. Most physicians are losing out in the net worth race in America. Our salaries are not keeping up with inflation. Just one stat will bring it home for you. Most physicians are not even in the top 5% nationally in terms of net worth. The finance guys, tech guys and small business guys have outdone physicians in terms of net worth.

Are salaries really not keeping up with inflation? Or do you mean that they do, but barely?

The finance, tech, small business guys, celebrities I have no respect for at all. Their success in life can only be attributed to one thing only: luck. Just like that megamillion lottery guy winner. At least the physician is guaranteed his money, and deserves every penny.

You might be right however in terms of net worth. To be in the 1 % you need a net worth of 8 million or something like that? A physician can have anything in life (somewhat true), just not everything (sadly). I'm pretty sure that physicians very easily can be in the top 1 % in terms of income, but not net worth.
 
To be in top 5% net worth now you need atleast 2.5 million. And its going up 5% per year so it will take 3 mil soon to be in that category. What I am saying to you is that the public has deemed physicians as a commodity and at best our salaries will stagnate going forward. Best thing you can do is save early drive cheap cars and enjoy compounded investement returns. Oh and one more thing it now takes 10.8 mil to be in top 1%. I think top 1% income is like 500k & above.
 
To be in top 5% net worth now you need atleast 2.5 million. And its going up 5% per year so it will take 3 mil soon to be in that category. What I am saying to you is that the public has deemed physicians as a commodity and at best our salaries will stagnate going forward. Best thing you can do is save early drive cheap cars and enjoy compounded investement returns. Oh and one more thing it now takes 10.8 mil to be in top 1%. I think top 1% income is like 500k & above.

Can you link sources to your claims that the salaries in most cases are not keeping up with inflation? A quick look at medscape 2018 (for what it's worth) show a 4,1 % increase in salary for specialists but yeah, only 2,8 increase for PC physicians (inflation being 2,9 %). But then again, there are more specialists than primary care physicians?
 
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The major factor these days for new physicians is student loans are ballooning. Salary is only part of the story though. Those that are the most successful own a business, real estate, and have passive income in the market. The issue is many physicians have very little financial sense and make poor decisions with their money (Sense of entitlement).
 
The major factor these days for new physicians is student loans are ballooning. Salary is only part of the story though. Those that are the most successful own a business, real estate, and have passive income in the market. The issue is many physicians have very little financial sense and make poor decisions with their money (Sense of entitlement).

What's the most common "business" physicians own? Maybe their own private practise? Or something not related to medicine?

Real estate stock investments or actual estates bought, renovated and then rented? What's the most common thing people do?
 
average net worth of 50 year old physician..... $3,000,000/2^n.

Where n= # of divorces
 
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