What age DO most doctors retire?

Most doctors retire around age 65, but many work into their late 60s and 70s, with nearly 30% retiring between 60-65 and 12% before 60, influenced by finances, specialty, and personal goals, though some younger doctors aim for earlier retirement through financial planning.

At what age do doctors stop working?

The traditional retirement age varies between countries, but usually is determined around 65 years.

Why is it hard for doctors to retire?

There are four main reasons for this -- the heavy debt load to enter the career, the very late start to earning a significant salary (most physicians leave residency at an age older than some FIRE bloggers retire at), the temptation of a high income, and the ``doctor factor'' I'll get into later.

Do doctors have a mandatory retirement age?

Physician-Employees are Protected from Age Discrimination

Lawmakers and professional regulators, perhaps implicitly recognizing the arbitrariness and unfairness in mandatory age retirements, have imposed no such requirements for physicians who are employees.

What is the average age doctors retire?

Most doctors retire in their late 60s or early 70s, with the average around 65, but many factors like specialty, burnout, and finances influence this, with nearly 30% retiring between 60-65 and some continuing to work past 70. High-stress fields (like emergency medicine) often see earlier exits, while specialties like Pathology and Dermatology might see doctors retire later (closer to 69).
 

Medical council questions requiring a retirement age for doctors

Can I retire at 62 with $400,000 in 401k?

You can retire at 62 with $400k if you can live off $30,200 annually, not including Social Security Benefits, which you are eligible for now or later.

How much money do most doctors have when they retire?

Physician retirement savings vary widely, but many aim for or achieve $2 million to $5 million+, with some studies showing 60% retiring with $1M-$5M, while aggressive savers target upwards of $4M-$10M for a comfortable, potentially early retirement, though about a quarter of doctors end up with less, often due to high debt or lifestyle creep. Key factors influencing savings include specialty, years in practice, lifestyle, and diligent investing, with many physicians starting later in careers. 

How long do most doctors live?

A doctor's life expectancy varies significantly by specialty, with primary care physicians generally living longest (around 80 years) and emergency medicine doctors having the shortest (around 58-71 years), though overall doctors often live longer than the general population, with cancer and heart disease being leading causes of death, and issues like stress, burnout, and shift work impacting longevity in certain fields. 

How much money to retire in DR?

Monthly retirement expenses in the Dominican Republic typically range from $1,500 to $2,500. Retirees can obtain residency through the Pensionado or Rentista visas. Average housing prices vary widely, from $100,000 to over $1 million. Seek professional financial advice to enjoy a secure retirement.

What's the average lifespan of a medical doctor?

A doctor's life expectancy varies significantly by specialty, with primary care physicians generally living longest (around 80 years) and emergency medicine doctors having the shortest (around 58-71 years), though overall doctors often live longer than the general population, with cancer and heart disease being leading causes of death, and issues like stress, burnout, and shift work impacting longevity in certain fields. 

Who is the youngest Dr. ever?

The youngest person to ever qualify as a doctor is Dr. Balamurali Ambati, who earned his medical degree from Mount Sinai School of Medicine in 1995 at the age of 17 years and 294 days, securing a Guinness World Record. An Indian-American ophthalmologist, Ambati's prodigious talent included graduating high school at 11 and college at 13, driven by a childhood inspiration to heal after a burns accident.
 

At what age do doctors consider you old?

Traditionally, the “elderly” are considered to be those persons age 65 and older.

Who is the lowest paid doctor?

The lowest-paid doctor is often in a pediatric subspecialty, with Pediatric Endocrinology frequently cited as the lowest-paying overall, followed closely by Pediatric Rheumatology, Infectious Disease, and general Pediatrics, according to recent 2024-2025 reports from Doximity and Financial Residency. Public Health & Preventive Medicine and Medical Genetics also rank among the lowest-compensated fields, often due to shorter training and better work-life balance.
 

What jobs in the US pay $300,000 a year?

What jobs pay $300,000 a year non-medical?

• Investment Banker. ...
• Hedge Fund Manager or Portfolio Manager. ...
• Corporate Lawyer (Partner Track) ...
• Software Engineering Director / VP of Engineering. ...
• Tech Entrepreneur / Startup Founder. ...
• Real Estate Developer. ...
• Management Consultant (Partner or Director Level) ...
• Private Equity Executive.

Who are the most overpaid doctors?

The highest-paid doctors in the U.S. are neurosurgeons, thoracic surgeons, and orthopedic surgeons. These surgical specialists earn average annual salaries between $650,000 and $760,000, making them the top earners among physicians.

What type of doctor lives the longest?

General Practitioners (80.3 years), followed by Surgeons (79.9 years) and Pathologists (79.8 years), according to the study above, published in 2021 in Lifestyle Medicine.

What is the leading cause of death in doctors?

Neoplasms and heart disease were the leading causes of death across all occupation groups, with mortality from neoplasms higher among surgeons (193.2 per 100,000 population) than any other group, including nonsurgeon physicians (87.5 per 100,000 population).

How old are most ER doctors?

There were 48,835 clinically active emergency physicians in 2020. The median age was 50 years (interquartile range [IQR] 41 to 62 years) and 28% were women. Overall density of emergency physicians per 100,000 population was 14.9.

How rich is the average doctor?

The average doctor's net worth varies, but a significant portion (around 60%) reaches $1 million or more, often by retirement, with many older physicians holding $2M-$5M, thanks to high incomes, though many start with substantial debt. While high-earners, doctors aren't always "rich" early on due to loans, but successful investing can make them multimillionaires, with specialties like Plastic Surgery, Orthopedics, and Cardiology often leading in wealth.
 

Why do some doctors never retire?

A Sense of Duty

One reason for continuing to work beyond the retirement age is one's own sense of responsibility. Medical care is scarce, particularly in rural regions. Many doctors value the personal relationships they have built with their patients and feel committed to continuing to provide care.

Is a 401k worth it for doctors?

For example, high-earning physicians expecting lower retirement income may prioritize the immediate tax deductions of a traditional 401k. By maximizing a traditional 401k, they reduce current taxable income and defer taxes until retirement, when they'll likely be in a lower tax bracket.

How many Americans have $500,000 in their 401k?

Believe it or not, data from the 2022 Survey of Consumer Finances indicates that only 9% of American households have managed to save $500,000 or more for their retirement. This means less than one in ten families have achieved this financial goal.

How long will $750,000 last in retirement at 62?

With careful planning, $750,000 can last 25 to 30 years or more in retirement. Your actual results will depend on how much you spend, how your investments perform, and whether you have other income.