The newly minted attending and newlywed, starting a family, serving on an ill-fated Board, and working way more than necessary. He knew enough to steer clear of whole life insurance salesman and to invest mostly in mutual funds.
For the employed physician, the most common names for those are 401(k) and 403(b). There could also be a 401(a) in there, as well, which is often used for matching or profit sharing.
If you make really big bucks and want to defer a lot more income, it may be worth exploring a defined benefit plan. These carry higher fees and must be invested in a less aggressive manner (100% stocks would not fly), but can potentially be an option.
If your health insurance plan is considered an HDHP (high deductible health plan), you will be able to invest in an HSA. This allows you to defer another $7,100 of income per family or $3,550 in 2020 as you max out an HSA.
Real estate is an avenue that many consider at this point, and there’s a myriad of ways in which to do so. I have only dabbled in crowdfunded real estate and own a Vanguard REIT mutual fund.