By Doug Bowden

With more than $7.2 trillion invested in Americans’ IRAs1, chances are you have taken advantage of this popular savings mechanism. In fact, more than 65 percent of physicians have made contributions to in Individual Retirement Accounts (IRAs) in addition to their qualified retirement plans, according to the 2016 Report on U.S. Physicians’ Financial Preparedness, recently released by AMA Insurance. 

By contributing writer Tanya Albert Henry

Saving for retirement? At some point—or points—stocks and bonds will have down turns as you withdraw funds during your golden years. Learn how you can “bear proof” your investments so those dips don’t zap your savings.

Our research has indicated that physicians as a group typically understand the importance of disability insurance as well if not better than most professionals. But that same research also indicates that some of the finer points about disability insurance – points that can make a real difference in how well the coverage is actually protecting the physician’s income.

By Amy Farouk, AMA Wire

As a physician, you’re probably accustomed to hearing that IRAs are an essential component of your retirement planning. What you might not know is how to manage those funds to get the most out of your savings to achieve your personal financial goals. An experienced physician financial advisor shared insights into some of the main questions you need to understand to reap the full benefits of your IRA.

By Amy Farouk, AMA Wire

Planning for your financial future is a personal priority for most physicians, but ensuring the security of the lifestyle you wish to maintain is a complex process fraught with risk. AMA Wire® spoke to an expert in physician finances, who shared the top mistakes physicians make—and ways to ensure they don’t derail you from your financial goals.

By Trey Fairman, J.D., LL.M.  Millennium Brokerage Group, LLC

As a physician, it may be helpful to think of your need for insurance protection as having three distinct phases.  As you move from one phase to the next, your need for insurance may change or disappear altogether.  As needs change, the appropriate solution may also change. It is important to understand this evolution and to regularly review your coverage to make sure it still serves its intended purpose.  Finally, as a physician, you can secure insurance protection by leveraging the national buying power of all U.S. Physicians through special programs offered by the AMA Insurance Agency, Inc.

By: Jared Kaltwasser, MD Magazine

Everyone wants to be financially secure, but many fall short of that goal. Study after study shows millions of Americans are far behind their retirement savings goals, including many people in middle and upper-middle income brackets.

Physicians' Assets Can be at Risk. Accidents Happen. That's why people have insurance. However, your professional liability or other practice coverage is not designed to protect you in the event of a lawsuit that could threaten personal assets.

In October 2012, Superstorm Sandy devastated the east coast with heavy winds and storm surges that flooded major cities and shorelines while dumping record snow in West Virginia and knocking out power as far away as Ohio.

When Storm Sandy made landfall in the greater New York City area October 2012, it was like the stuff of a science fiction movie. Ocean surges overtook entire communities. Mass transit systems were paralyzed and tunnels flooded. Millions were without power for days.

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