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...
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