Economic Status: This 29-year-old postdoc has saved only $2,000 in a checking account and makes about $37,000 a year from his National institutes of Health postdoctoral fellowship. He also carries tens of thousands of dollars in debt for undergraduate school loans.

Financial Considerations: Starting a family, thinking about buying a home, planning for retirement, paying off school loans, on a very tight budget.

Goals: Secure health coverage and maintain a balance of at least $3,700 in the checking account after monthly bills are paid, says Kenneth Robinson, the head of his own financial planning company in Cleveland. "And then, I would like to see a fund for true emergencies of $7,000," he adds. Once these savings goals are...

Interested in reading more?

Magaizne Cover

Become a Member of

Receive full access to digital editions of The Scientist, as well as TS Digest, feature stories, more than 35 years of archives, and much more!
Already a member?