Starting to Save Late: A Catch-Up Plan for Vets in Their 30s

By: Daniel Rivet, CFP®

If you're a veterinarian in your 30s and your retirement account looks thin, you're not behind because you made bad choices. You're behind because of the path you took.

Most vets don't earn a full salary until their late 20s. Many spend another year or more in an internship or residency. Along the way, the average 2025 graduate who borrowed left school with about $212,000 in debt (AVMA data via Purdue). Friends who went straight into other careers often had a ten-year head start on saving.

The good news: your 30s are still early. You have 25 to 30 working years ahead of you, and your income is likely higher now than it has ever been. Here's a simple plan to catch up.

1. Know your number, roughly

You don't need a perfect retirement projection to get started. You need a target savings rate. For someone starting in their 30s, saving around 20% of gross income (including any employer match) is a reasonable place to aim. If that feels impossible today, start lower and raise it 1% to 2% every year.

2. Capture every dollar of the match

If your practice offers a 401(k) match, contribute at least enough to get all of it. A match is part of your pay. Leaving it unclaimed is like declining part of your salary.

3. Decide on your student loans first

Your loan strategy affects how much you can save. If you're pursuing Public Service Loan Forgiveness or an income-driven plan, extra payments may not help you, so that money could go toward retirement instead. If you're paying loans off aggressively, set a target date and plan to redirect those payments into savings when you hit it.

4. Use the accounts built for catching up

• •  401(k) or 403(b): The biggest bucket. Work toward the annual maximum over time.

• •  Roth IRA: Valuable for tax-free income later. If your income is above the direct contribution limit, ask about a "backdoor" Roth.

• •  Health Savings Account: If you have a qualifying high-deductible health plan, an HSA offers a tax break going in, tax-free growth, and tax-free withdrawals for medical costs.

• •  Solo 401(k) or SEP IRA: If you do relief or locum work on the side, these let you save a large share of that income.

5. Protect your income before you grow it

Your ability to work is your biggest financial asset. An injury to your hands or back could end a clinical career. Make sure you have own-occupation disability insurance before you lean hard into investing. Catching up only works if your paycheck keeps coming.

The bottom line

Starting late is common in veterinary medicine. What matters most now is consistency: a solid savings rate, a clear loan strategy, and steady increases as your income grows.

If you'd like a second set of eyes on your plan, I work with veterinarians at every stage of their careers, and I'm happy to help you map out your next steps.