Anonymous wrote:

Anonymous wrote:I only have about 150k for tuition - not sure if we get aid with HHI - I Think we are the only ones saving for college - haha - some of my friends have a trust that is paying for kids tuition - we need another 400k plus - I am just so exhausted- no vacation no time off and I have no plans for retirement sad - and my house is modest and cars are modest - life is still expensive between mortgage and taxes

I think your issue is you like to compare yourself to your friends who have more. Stop doing that. On your HHI you’re doing very well.

You are absolutely right and I am working on this! Thanks for the feedback

Anonymous wrote:According to this (https://www.investopedia.com/articles/pf/08/ideal-net-worth.asp#toc-the-ideal-number), at your HHI you should have a net worth of $875,000. You have a net worth of ~1.3M. You're doing very well. Stop comparing yourself to people that have trust funds and chill out.

Op here - you are absolutely right it’s just frustrating because are friends that have them sometimes act like they are better than us and that’s annoying

Anonymous wrote:I only have about 150k for tuition - not sure if we get aid with HHI - I Think we are the only ones saving for college - haha - some of my friends have a trust that is paying for kids tuition - we need another 400k plus - I am just so exhausted- no vacation no time off and I have no plans for retirement sad - and my house is modest and cars are modest - life is still expensive between mortgage and taxes

I think your issue is you like to compare yourself to your friends who have more. Stop doing that. On your HHI you’re doing very well.

According to this (https://www.investopedia.com/articles/pf/08/ideal-net-worth.asp#toc-the-ideal-number), at your HHI you should have a net worth of $875,000. You have a net worth of ~1.3M. You're doing very well. Stop comparing yourself to people that have trust funds and chill out.

At that income level you will qualify for some financial aid but it will vary, particularly among CSS profile schools. Every college has a net price calculator on its website that will give you a good indication of your cost of attendance. Schools factor things like home equity differently and some have more money to give in financial aid than others so don’t assume all schools will cost the same. And if your kids are good students they may also get merit aid.

I actually think you are doing really well at that income level and you should be proud of yourself for saving as much as you have. It’s tough out there but you are managing well!

You have done well with 175 HHI. It is hard to do accumulate wealth in this area unless you have DCUM HHI. Keep doing what you are doing.

Is this $550k since you were 25?35? Seems like you have been saving, not investing.
$1500 a month in S and P for last 15 would give you that much.
I would have take a lot more risk in 20s and 30s. I don't suggest you do it now.
Keep going and keep your expenses low.

Thanks for the feedback!!

and maybe a paid off house!

If you work until SS, then you will have that plus $40-80k a year from your retirement account. And you could sell investment property. You will be fine!

You have multiple properties and a healthy retirement account. You're not doing anything wrong.

I only have about 150k for tuition - not sure if we get aid with HHI - I Think we are the only ones saving for college - haha - some of my friends have a trust that is paying for kids tuition - we need another 400k plus - I am just so exhausted- no vacation no time off and I have no plans for retirement sad - and my house is modest and cars are modest - life is still expensive between mortgage and taxes

Is the remodel the only reason you feel behind? Your $500K in home equity and $200K in investment property equity is significant. Combined with your retirement you're a millionaire. Congrats! You could probably pay cash for your remodel if you sold your investment property. I'm not saying you should do this, but pointing out that you have resources. You've chosen an investment property over a remodel so far. Maybe your neighbor has no investment property? How are savings for kids' college?

Trying to get financial planner to help achieve my goals

I am not sure what I am doing wrong - I am 50 and have two kids- I have saved about 550,000 in retirement and live in 700,000 home (still owe 200k) also have investment property worth 550k (owe 250k). I have yet to be able to remodel my home - my friends remodeled theirs like five years ago and I feel exhausted and frustrated-not taking out loan for this

HHI is 175k - between the kids spending and inflation - I am disappointed because I think I am way behind - I don’t see myself ever retiring and I have no inheritance- made everything on my own