Nearly 60 percent of physicians have made unsuccessful investments, according to Medscape's Physician Wealth and Debt Report 2018.
Medscape surveyed 20,329 physicians across more than 29 specialties, and some described their failed ventures:
- "I bought a speculative stock that didn't do well, and I bought a second home at the peak of the market."
- "I was the victim of a timeshare scam based in Nevada."
- "I bought a volatile stock that bottomed out after I purchased it."
- "I invested in a home health company with several other physicians. It was poorly managed, did not meet expectations and eventually closed. I lost all of the initial investment."
Here is the breakdown of how physicians' investments turned out. The total does not equal 100 percent due to rounding.
1. Invested in a stock or company that turned out badly: 27 percent
2. Made a real estate investment that turned out badly: 13 percent
3. Invested in something else that did not work out: 18 percent
4. Never made a particular investment mistake: 34 percent
5. Never made any investments: 20 percent