403(b) vs 457(b): Real Retirement Plan Case Study

For Physicians transitioning from resident to attending, maximizing your retirement benefits requires understanding the specific mechanics of your employer plans. I used a real case study with Duke Health retirement plans to show you how to maximize your retirement savings and potential traps. Links to Source: 403(b) - https://hr.duke.edu/sites/default/fil... 457(b) - https://forms.hr.duke.edu/media/benef... We break down the 403(b) and 457(b) plans available to physicians, focusing on how contribution limits impact your long-term wealth. By calculating the tax savings and employer vesting conditions, you can better align your retirement planning strategy with your career trajectory. Understanding the timing of taxes for your 457(b) plan is essential for high earners. We clarify these rules so you can navigate your physician benefits with confidence rather than guessing how your paycheck will be impacted. Financial Planning for Physicians in their 30s to 40s: https://www.familystyleadvisors.com/ This video is for educational purposes only and should not be considered individualized financial, tax, legal, or investment advice. Subscribe for weekly physician financial planning breakdowns, and comment below if you have questions about your own retirement strategy. 0:00 Why Physician Retirement Benefits Matter 1:25 Understanding 403b and 457b Retirement Jars 3:44 Navigating Enrollment and Early Withdrawal Rules 5:46 The Complex Reality of 457b Plans 9:00 Employer Contributions and Vesting Schedules