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.

Recent Financial Planning / Retirement Questions



a personal
finance question