Retirement: 401k, Roth IRAs, College Funds, and More

  • David S. Strosberg
  • Sara E. Martin del Campo
  • David B. Renton
Chapter

Abstract

In the following discussion, financial retirement preparation issues are addressed so that a surgeon is financially prepared for retirement. We discuss assembling an advisory team, determining the financial target, and obtaining the financial goal considering income benefits and asset accumulation benefits. Short- and long-term investment strategies including Social Security, pension plans, annuities, individual retirement arrangements (IRAs), life insurance, stocks, bonds, and mutual funds are reviewed. Retirement for the surgeon requires careful financial planning to maintain an acceptable quality of life.

Keywords

Advisory team Finance Income benefits Social security Pension plans Annuities Savings account Life insurance Retirement plan 

References

  1. 1.
    Williams TE Jr, Ellison EC (2008) Population analysis predicts a future critical shortage of general surgeons. Surgery 144(4):548–554, discussion 554–546Google Scholar
  2. 2.
    United States Department of Labor Lifetime Income Calculator. Benefits planner: your future benefits. http://www.askebsa.dol.gov/lia/home. Accessed Oct 2016
  3. 3.
    Social Security: official social security website. http://www.ssa.gov/planners/index.html. Accessed Oct 2016
  4. 4.
    Internal Revenue Service, United States Department of the Treasury. Tax topics—Topic 424 – 401(k) plans. http://www.irs.gov/taxtopics/tc424.html. Accessed Oct 2016
  5. 5.
    Internal Revenue Service, United States Department of the Treasury. Types of retirement plans. http://www.irs.gov/Retirement-Plans/Plan-Sponsor/Types-of-Retirement-Plans-1. Accessed Oct 2016

Copyright information

© Springer International Publishing AG 2017

Authors and Affiliations

  • David S. Strosberg
    • 1
  • Sara E. Martin del Campo
    • 1
    • 2
  • David B. Renton
    • 1
    • 2
  1. 1.Department of SurgeryThe Ohio State University Wexner Medical CenterColumbusUSA
  2. 2.Center for Minimally Invasive SurgeryThe Ohio State University Wexner Medical CenterColumbusUSA

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