Ok here-We will also be getting a 5k refund after putting 10k in an idea this year, so more money for saving.
Pp-we are mid thirties. We had it together until the layoff and are trying to put the pieces back together.

Anonymous wrote:Op here-no employer match for 401k, still worth it? 500 to savings, 500 to retirement?
Fwiw We have no cable, eat out once or twice a year, day trips only, cheap cell plan.
My kids have learning disabilities that can't be adequately addressed in public schools. Not negotiable at this point.

Post a budget.

What age are you and DH?

Build an emergency fund first, thats critical. Then look at 401k.

Food for thought - $100,000+ worth of tuition buys a LOT of private tutoring and special help.... the nature of the disability matters im sure but.....

Anonymous wrote:Op here-no employer match for 401k, still worth it? 500 to savings, 500 to retirement?
Fwiw We have no cable, eat out once or twice a year, day trips only, cheap cell plan.
My kids have learning disabilities that can't be adequately addressed in public schools. Not negotiable at this point.

Yes 401k is still worth it, especially since your income is too high for a Roth IRA, taking that option off the table.

As you must know, 3 in private is the budget buster. You will have to work around this, given the LDs. Agree with PP on 500/500 monthly allocation.

SAVE Save and then save some more. Cut out ANYTHING that isn't a necessity. Seriously. Do this until you have 6 months of living expenses saved. Stop all "investments" until you do this. Once you have that done, you can start thinking about investing for the future

How old are you?

You need to get on a written budget. What other expenses do you have - car payments, mortgage, etc. With your income you should be able to save more than $1,000/mo.

Op here-no employer match for 401k, still worth it? 500 to savings, 500 to retirement?
Fwiw We have no cable, eat out once or twice a year, day trips only, cheap cell plan.
My kids have learning disabilities that can't be adequately addressed in public schools. Not negotiable at this point.

The problems start when you start thinking there is all of this stuff you are entitled to have. You need to prioritize and then only buy the top priorities on your list that you can actually afford. Not burdening your children with elder care is a priority.

Cancel cable, get a cheap cell plan, and put money in any retirement accounts where you get an employer match. Write down your expenses for a month and see what can be cut.

You also need to build an emergency fund. 500 to that, 500 to retirement.

Why must they all be in private?

401ks. ASAP

Op here. Public school not an option for various reasons. We can reasonably put away$1000 a month but into what...401k, mutual fund...

Anonymous wrote:Public school and start saving.

+ 1.

Public school and start saving.

Just to be clear, DH is now employed at the same base salary.

DH and I are both professionals. Our gross income is 280k. We have a home, three kids (all in private school), 50k in iras, nothing else put away. We blew through our savings (and then some) last year when DH was laid off. Any suggestions about where to restart our investments or a point in the right direction would be appreciated. (It's embarrassing to admit this...even anonymously!)