Sixty-one percent of physicians are paying off their primary residence's mortgage, according to Medscape's "Physician Wealth & Debt Report 2023."
The report surveyed 10,011 physicians across more than 29 specialties about their income, net worth, and more from Oct. 7 to Jan. 17.
Here are the expenses or debts that physicians are paying down:
Note: Respondents could choose multiple answers.
Mortgage on primary residence: 61 percent
Car loan payment: 33 percent
Credit card debt: 25 percent
Your own college or medical school loans: 21 percent
College tuition for child(ren) : 18 percent
Medical expenses for yourself or loved one: 16 percent
Mortgage on second home: 14 percent
Car lease: 14 percent
Private school tuition for child(ren): 13 percent
Childcare: 12 percent
Your spouse/significant other's college, medical school or graduate school loans: 8 percent
Business loan: 7 percent
Graduate school tuition for child(ren): 5
Alimony: 3 percent
Other: 4 percent
None: 14 percent