Divorced Father of Two ISO Retirement Advice

Dr. Don,

I'm 35 years old, make $96,000 a year, pay $18,000 each year in child support for my two children and am trying to plan for retirement. I get an annual bonus at work, which I'm typically able to sock away: This year, I expect to put up to $25,000 in the bank. I'll also contribute 6% to my 401(k), and my company matches half of that.

I want the best for my kids, who are three and six. I keep money invested for them in my name in a taxable account so my ex-wife won't have control of the money. I also have a personal account where I've bought a few stocks on the recommendations of friends and my own research. I recently invested in three mutual funds through this account to help staunch the bleeding, and I've decided to let experts pick my stocks for the most part going forward. I also have lots of cash in money market investments.

Yours truly, ...