Physician Retirement Savings Calculator
Retirement Growth Estimator
Include 401k, Match, Backdoor Roth, and Brokerage.
(sends these numbers to Ask; we don't keep them)
What Your Number Means
The 20% Rule: Physicians have a late start on wealth accumulation due to training. To catch up and retire at a standard age, physicians must save at least 20% of their gross income. If you want to retire early (FIRE), you need to push that to 30% or more.
Tax Diversification: Don't just save in pre-tax accounts (like a 403b/401k). You also need post-tax (Roth IRA) and taxable brokerage accounts to control your tax bracket in retirement.
Physician Case Studies
Dr. Chen (Late Starter)
The Profile: Started saving at age 35 with $0. Wants to retire at 60 with $200k/yr income.
The Outcome: He must save roughly $7,500 per month (invested aggressively) for 25 years to hit his $5M target. This requires strict lifestyle control in his early attending years.
* Note: The physician case studies presented above are illustrative composites created for educational purposes. They do not represent actual clients or guarantee similar results.
Want to dive deeper?
Read our comprehensive guide to understand all the nuances and strategies.
Clinical Context & Calculation Details
How to Use This Calculator
Input your current age, target retirement age, current retirement portfolio value, total expected annual contributions (401k + Backdoor Roth + Brokerage), and an estimated realistic rate of return.
The calculator projects your total portfolio value at retirement, separating out the money you actually contributed from the growth driven by compound interest.
Why Doctors Need This
Physicians usually don't start earning real money until their early 30s. This "late start" means missing out on a decade of compounding interest compared to college peers who started working at 22.
To overcome this, doctors must save a disproportionately high percentage of their gross income (usually 20% to 30%) to reach financial independence by age 60.
The Math Behind It
Future Value: The calculator applies the standard Future Value (FV) formula for both a present sum and a series of annuities: FV = PV(1+r)^n + PMT[((1+r)^n - 1)/r].
A classic, slightly conservative estimate for long-term annualized stock market growth (after inflation) is 5% to 7%. Historically, the S&P 500 has returned around 10% before inflation.
Pearls & Pitfalls
- Pearl: The "Rule of 72" roughly estimates how long it takes your money to double. If you assume a 7.2% return, your portfolio doubles every 10 years, even if you never add another dollar to it.
- Pitfall: Waiting until student loans are completely paid off before investing. Prioritizing low-interest debt (e.g., a 3% loan) over standard market returns (7%) mathematically stunts your retirement growth.
- Pearl: The "4% Rule" suggests you can safely withdraw 4% of your total portfolio each year in retirement to ensure you never run out of money. Therefore, if you need $200,000/year to live, you need a $5,000,000 portfolio.
Worked Example
The calculator's default inputs: age 32, retiring at 60, $50,000 saved, $60,000 a year and a 7% return.
| Step | Calculation | Result |
|---|---|---|
| Years to grow | 60 − 32 | 28 |
| Growth of current savings | $50,000 × (1 + 7%)^28 | $332,442 |
| Growth of yearly contributions | $60,000 × ((1 + 7%)^28 − 1) ÷ 7% | $4,841,861 |
| Projected total | Sum of the two | $5,174,303 |
| Amount you put in | $50,000 + $60,000 × 28 | $1,730,000 |
| Investment growth | $5,174,303 − $1,730,000 | $3,444,303 |
| Yearly withdrawal at 4% | $5,174,303 × 4% | $206,972 |
These are future dollars. At 3% inflation, $5,174,303 in 28 years buys about what $2,261,568 buys today.
Assumptions & Sources
- A constant yearly return with contributions added at the end of each year. Real returns vary from year to year, and the order of returns matters near retirement.
- Nominal dollars: the result is not adjusted for inflation, taxes or fund fees.
- 4% withdrawal rate is a rule of thumb from historical U.S. market studies for a 30-year retirement, not a guarantee.
- 2026 limits for context: $24,500 of employee 401(k) or 403(b) deferrals and $72,000 total per plan: IRS, 401(k) contribution limits. The calculator does not check your contribution against them.
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About the Author
Joshua Dunigan, DO | Family Medicine Resident & Founder
I'm a family medicine resident physician in Des Moines, Iowa (class of 2027). I founded MedMoneyGuide to give physicians specialty-specific financial guidance, with sources you can check.