An American Medical Association Insurance Agency report found young physicians start their careers $71,000 behind their non-physician peers, according to Physician's Money Digest.
AMA collected responses from 1,937 physicians under the age of 40.
Here are five highlights:
1. The figure is based on non-physicians earning an average of $60,000 and putting 4 percent in a 401(k) plan in their first five years of work. For the next five years, non-physicians put 10 percent of their earnings in a 401(k) plan.
2. Of the respondents, 41 percent reported having less than $100,000 in retirement savings.
3. An additional 41 percent had between $100,000 and $500,000 saved.
4. The report found respondents were concerned about funding their children's education. The report found most (75 percent) were married, had children (60 percent) and were their family's primary breadwinner (78 percent).
5. The report found 60 percent of physicians are now employed by a practice, hospital or medical school.
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