A majority of physicians have a net worth of under $1 million, while 41% of physicians have assets of $1 million or more.
Net worth includes all assets (savings, investments, equity in properties) minus debts, loans, mortgages, and other liabilities. "In my experience, the largest asset for most physicians is their retirement plan at work, 401(k)/403(k), so I would say the bulk of their assets are in cash and investment vehicles and not in their primary residence," says Joel Greenwald, MD, CFP®, of Greenwald Wealth Management, St. Louis Park, Minnesota.
