Why Most Doctors Retire on Half Their Income
When I sat down with Sanja Noble and Asa Patterson on the Wealth B-Hers Podcast, our conversation quickly turned to retirement, and what we revealed was startling.
Most physicians are heading toward retirement with only half of the income they expected.
The even scarier truth? Many don’t realize it until it’s far too late.
The Harsh Truth About Physician Retirement
You’ve worked long hours, sacrificed sleep, and dedicated your life to healing others. So why are physicians often financially vulnerable at retirement?
The truth is, many of us rely heavily on employer-based pensions and 401(k)s. While those can help, they rarely replace the full income doctors grow accustomed to. Studies, and Asa’s experience show that most physicians end up with about 50% of their highest income in retirement.
Why? Because pensions shrink, 401(k)s are volatile, and most of us don’t plan beyond the bare minimum.
The Rule of 72: What Banks Know That You Don’t
Here’s something the wealthy (and banks) understand well: the Rule of 72. This simple formula tells you how long it takes for your money to double. Divide 72 by your interest rate, and you’ve got your answer.
If your savings account pays 1%, it’ll take 72 years for your money to double. But banks take your deposits and loan them out at 6%, 12%, or even 30% on credit cards—meaning they double their money much faster.
It’s time for you to use this principle to your advantage.
Hopium Is Not a Strategy
As Asa shared on the podcast, “Most people use a strategy called hopium—hoping things work out without ever planning.”
Hope feels comforting, but it doesn’t pay the bills. Too many physicians avoid financial conversations until it’s too late. We think pensions will be there, our employer will “take care of us,” or somehow our lifestyle will magically cost less in retirement.
But do you want less? Or do you want freedom?
Smarter Tools the Wealthy Use
The wealthy play a different game. One of my favorite examples is football coach Jim Harbaugh, who negotiated his salary to be paid into a life insurance policy. Instead of losing half to taxes, he gained access to nearly the full amount.
This isn’t magic. It’s a strategy. Tools like Indexed Universal Life (IUL) insurance aren’t just about death benefits—they’re about living benefits, tax efficiency, and building wealth you can use.
You don’t have to know every detail. You just need the right team guiding you.
How to Avoid the 50% Trap
Here’s how you can start:
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Check in annually: Don’t wait until two years before retirement.
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Don’t rely solely on employer plans: Use them, but diversify.
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Build multiple options: Insurance, investments, and personal strategies.
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Apply the LIVE Framework:
Learn the truth about money.
Invest intentionally, not passively.
Value your future as much as your present.
Enjoy the freedom of choice.
You don’t have to be perfect. You just have to start.
Your Next Step: Stop Hoping, Start Planning
You’ve worked too hard to leave your retirement to chance. So here’s your invitation:
👉 Download my free guide: 7 Steps to Building Resilient Wealth
🎧 Listen to the Wealth B-Hers Podcasts for more real talk on social-impact investing
💬 Book a free strategy call to explore how you can get started
📩 Or just email me at felecia@moneywithmission.com
Remember:
Retirement is about options.
And your financial freedom starts with what you do today.
