Physician Retirement Catch-Up Calculator
Most physicians start their attending careers at 30–35 with near-zero savings and $200K–$400K in debt. That's 5–10 years behind a peer who started saving at 25. This calculator shows you the gap, the math, and how much physician-specific savings vehicles can close it — then tells you whether your plan is on track to retire at your target age.
Why physician retirement math is different
A peer who started saving $25K/year at 25 has a 10-year head start. At 6.5% return, that's roughly $350K in compound growth they've captured before you make your first contribution — purely from starting earlier.
Savings vehicles physicians should know
| Vehicle | 2025 Limit | Who qualifies | Tax treatment |
|---|---|---|---|
| W-2 401(k) | $23,500 employee + employer match (total cap $70,000) | Hospital employees, academic physicians | Pre-tax or Roth |
| Solo 401(k) | $72,000 (2026)/yr (employee + employer combined) | Any self-employment income (private practice, 1099 shifts) | Pre-tax or Roth; Mega-backdoor Roth possible |
| Backdoor Roth IRA | $7,500/yr ($8,000 if 50+) | Any physician (income too high for direct Roth) | After-tax contributions, tax-free growth and withdrawals |
| Cash Balance Plan | $100K–$300K+ depending on age and income | Self-employed / practice owner, typically age 45+ | Pre-tax; powerful for high-income catch-up in final 10–15 years |
| HSA | $4,400 individual / $8,750 family | Anyone on a high-deductible health plan | Triple-tax advantaged; invest and grow for healthcare in retirement |
A real example: Dr. Chen, 35-year-old internal medicine attending
Dr. Chen graduated residency at 32, paid down $120K of loans, and now has $60K saved. Income: $280K. She wants to retire at 62 with $180K/year.
- Retirement nest egg needed: ~$4.7M (25× annual spending, the 4% rule)
- She has 27 years of runway. At 6.5% return, $60K grows to ~$350K without additional contributions.
- Gap: ~$4.35M needs to come from new savings over 27 years.
- Required monthly savings: ~$5,200/month, or $62K/year — achievable with a solo 401(k) if she has any 1099 income.
- With a cash balance plan at 50: She could contribute an extra $120K/year for 12 years — dramatically closing the gap and cutting tax bills in her peak-earning years.
The calculator above runs this math for your specific numbers and shows how adding each vehicle changes the picture.
Three strategies for closing the gap faster
1. Maximize pre-tax contributions early
Every dollar you put into a solo 401(k) or cash balance plan reduces your taxable income at your marginal rate (likely 32–37% federal). For a physician in the 37% bracket, a $72K (2026) solo 401(k) contribution is effectively a $25K gift from the IRS in avoided taxes — which you reinvest to compound.
2. The backdoor Roth: small but essential
$7,500/year looks modest, but Roth money is worth more than pre-tax money — withdrawals are tax-free, and there are no RMDs. Over 25 years at 6.5%, even $7K/year becomes ~$475K of tax-free retirement income.
3. Cash balance plans in peak-earning years
A defined-benefit cash balance plan lets older, higher-earning partners contribute far more than a 401(k) alone allows — often $150K–$250K+ per year in a tax deduction. The IRS allows this because the annual benefit is actuarially calculated to not exceed a set limit at retirement age. For a 52-year-old physician with 10 years until retirement, this is frequently the single highest-leverage financial decision available.
Related reading
Get your retirement plan reviewed
This calculator models the math. A fee-only advisor who works with physicians can build the actual plan — accounting for your loan payoff timeline, tax bracket optimization, practice ownership details, and Social Security timing. Most physicians who run this for the first time realize their savings rate needs to go up. The earlier you know, the easier the fix.