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[quote=Anonymous][quote=Anonymous][quote=Anonymous]If you may $500k per year and are worried about saving for retirement and college, a financial planner is not going to help you. There are spending and lifestyle problems that need to get under control.[/quote]

I'm the OP and this is absolutely not true. We barely go on vacations. The last vacation was to Emerald Isle in 2021. I don't get my nails done. I wear my hair in a low bun so get my hair cut at a salon just once every 6 months. I don't buy jewelry. I haven't bought any new clothing except socks and underwear and an occasional sweater (which is once a year, if even). Only the kids get new clothing as they outgrow old ones. We have seen one financial consultant who broke down our spending and said we don't overspend in any area EXCEPT on food (we eat mostly organic) and our rule for takeout is that we get it just once every week from low priced restaurants like Moby Dick or Panera. I mistakenly left the finances up to my husband believing he could manage it well and then later realized we had very little savings/investments/retirement. I was shocked and I still have no idea why. We are now saving but we got a very late start. [b]I need to figure out a way to save a massive amount before the kids go to college and before we retire.[/b] [/quote]

Hi OP,

Have you been maxing out your 401k every year? If so, that’s 10% savings each year right there. You may be able to squeeze another 10%, but I don’t see any “massive amounts” happening.

I do believe that you need to pay someone to help you figure out what is going on. Is it that your savings did not generate enough return because your husband invested everything very conservatively?

In any case, a financial planner should help you get on the same page, put together a plan going forward, and manage expectations.

Good luck![/quote]

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