Our recent survey revealed that our members have accumulated record levels of assets, while whittling down their debt. How did they accomplish this tremendous feat? Below we discuss the successful spending, savings, and investing strategies they used to build phenomenal wealth.

Total Personal Wealth

Almost 400 (394) of our members responded to our recent survey on personal finances. We asked them to estimate their “total personal wealth,” meaning the value of all assets including retirement plan and IRA accounts, Health Savings Accounts (HSAs), personal stocks, bonds, mutual funds and other investments, personal residence, office building and other real estate, but excluding the value of their practice and life insurance coverages. Furthermore, the total amount of personal wealth was not to be reduced by any personal or practice debt or mortgages.

Our survey revealed that our members are achieving higher wealth levels than ever before. The chart below illustrates this trend, with a record percentage of doctors (54%) reporting total personal wealth of $5,000,000 or more, compared to 44% in 2017, and 32% in 2014.