<prompt> Human: Hello all,Im currently looking into returning to graduate school after taking some time off from undergrad. If everything looks good and Im accepted, I will be in my early 30s by the time I matriculate, and since Im looking at PhD programs in the biomedical sciences, I am looking at 5-7 years to complete my research and from there, possibly post-doctoral work or maybe industry.Currently, Im working as a research technician and I make around 45kyear. After 7 years, Ive moved into the highest position that my current employment can offer me and I expect top off around 50kyear. This is also assuming my boss can keep me employed during this time. My goal, however, is to eventually run a lab myself as I would like to pursue my own research endeavors, maybe teach at the collegiate level, and to do this I need a doctorate in my field.But does it make sense financially for me to go back to school when Im already in my early 30s? I dont expect to get into the career I desire until Im in my early 40s, and even then, PhDs in my field can start anywhere between 45k-80k this is anecdotal based on peers and friends with the degree in my field, and includes academia and industry salaries. So while I cant guarantee my income would increase significantly by going back to school compared to what Im making now, it is possible that I will be able to eventually make more than what Im topped off at with my current company. Also, all the programs Im looking at offer anywhere between 27-31kyear in taxed researchteaching assistantships that are guaranteed for all students in good standing for up to 7 years. Health insurance is included in this, but there are no 401k403b options. Cost of living is low to medium Im looking at schools in the midwest. I will be living with my spouse who works full time and makes around 40kyear with no debt. Spouse is also maxing out employee retirement and fully contributing to an IRA each year.For finances, Im contributing to retirement in the form of a 403b, maxed out for employer matching, and still paying off some undergrad student debt all federal loans. No IRAs since Im focusing on my student debt.Current salary: 45kStudent Loans: 12k left 4.5 all federalRetirement savings: 30k-35k I dont remember the exact number, maxed out for employer matching - this is both mine and my spousesSavings: 30k this is going towards our house downpaymentMy spouse and I both have cars that are paid off, and are looking into purchasing a house in the future, and considering purchasing when Im in school. No plans for children.I have a current plan to apply to PhD programs in biomedical sciences, but do I have a right to be worried about my financial future? Would I be better off in my current position, or possibly look into a company that could pay me more and be a technician forever? Would my spouse and I be set up alright for retirement? Or is this financial suicide for us? My spouse is on board with me going back to school if I decide to.Thank you for reading!  <response>: Unless you plan to get a doctorate in a field that requires a doctorate, there is usually minimal financial reason to continue in school that long.If you want to get a PhD for personal achievement or love of learning and research, then that is a personal life investment and can be worth it.PhD ! more money. 