A plurality of cardiologists have a net worth of between $2 million and $4.9 million in 2024, according to Medscape's "Cardiologist Wealth and Debt Report," published July 19.
An additional 21% of cardiologists have a net worth of less than $500,000, while 9% are worth $500,000 to $999,999, 17% are worth $1 million to $1.9 million and 20% are worth more than $5 million.
Here are seven additional things to know about cardiologist wealth and debt in 2024:
1. About 28% of cardiologists are in the over-$5 million wealth tier, tied with orthopedists. Cardiologists and orthopedists have more specialists in the tier than the majority of physician specialties, surpassed only by urologists, gastroenterologists and radiologists.
2. Female cardiologists have lower net worths than their male counterparts on average, with 10% of female cardiologists being worth $2 million to $5 million and 6% worth more than $5 million.
3. A majority of cardiologists (60%) said they believe they live within their means.
4. The largest expense cardiologists said they face is a mortgage on a primary residence (53%).
5. A majority of cardiologists (64%) have not experienced any major financial losses in the last year, but the most common form of financial loss is a bad stock market investment (22%).
6. Forty-five percent of cardiologists said they believe their investment portfolios will remain stable in the next year, while 29% believe they will grow and 26% believe they will decline.
7. Thirty-six percent of cardiologists said they do not have a mortgage on their primary residence.