Ask Terry Questions Help saving for retirement and college

Help saving for retirement and college

By Terry Savage on September 03, 2013 | Financial Planning / Retirement

My wife in I are in our early fifty but haven’t been as prudent as we should of been with regard to our saving for either college or retirement. We have approx $50k for each or our two boys and she has a 401k but unforunately I’ve made a couple of bad investments and own my own business. We’ve recently refinanced and agreed to start budgeting, can you recommend a personal budget guide?

SAVAGE SAYS: I think you’re ready for a sessin with a financial planner. If you are in budget trouble, I’d call the National Foundation for Consumer Credit (NFCC) at 800-388-2227 to get connected to the nearest local office. But as I read your post, that’s not the issue. I think you are looking for a way to move ahead, save, invest and plan for the future. So go to to find a certified financial planner in your area. Or go to to find a planner that does not charge commissions on products sold. Interview a couple, asking questions, and trusting your instincts. In The Savage Truth on Money, I have a chapter on what you should ask a planner — and what they should ask you!

By the way, I’m not trying to sell my book, BUT– you can order a copy at my website ( a few dollars and I think it will be well worth the money spent. That way when planners or brokers make suggestions, you will know what they’re talking about and what questions to ask.



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