Personal finance from around the web:

The good news and bad news about your nest egg: You can find ways to make it last, but it's not going to be pretty.

I'm retired and have lost a third of my savings and a third of my monthly income. I don't have earnings, so I can't add new money to my retirement portfolio. I also don't have enough time to wait for a  market recovery to recoup my MORE

You can always make a case to regularly retool your account - and this year, it's especially important.

Normally I rebalance my 401(k) at the end of the year. But considering the losses I have in my account, do you think I would be better off waiting for the market to stabilize before rebalancing? - Samuel Fritts, Cary, N.C.

If you're a movie buff, you probably remember that famous scene in "The MORE

If you can learn from the mistakes of others, now is a great time to be an investor.

Question: I'm inexperienced when it comes to investing, but I want to build a more secure financial future. What tips or suggestions do you have for a young investor like me? —Caleb Bond, Denver

Answer: It's a great time to be starting out as an investor. Yes, I know that might sound odd, MORE

Question: Now that the stocks in my IRA have taken a big hit, does it make sense for me to convert to a Roth IRA? I anticipate retiring in about 10 years. —Scott Bottorf, Johnston, Iowa

Answer: The decision to convert an IRA or 401(k) to a Roth IRA should be based on your overall finances today and your retirement prospects for the future (including an assessment of the tax hit MORE

Question: Are stable-value funds a safe investment? —Rexford, Syracuse, New York

Answer: That depends on what you mean by safe.

Stable-value funds, which are available only in 401(k)s (and currently offered by more than half of such plans), invest for the most part in high-grade short- to intermediate-term bonds. The managers of these funds also buy "wrappers" - or contracts from insurance companies and banks - that guarantee principal and accumulated interest MORE

Question: In the midst of the turmoil on Wall Street, I'm thinking of investing in gold, specifically bullion or gold coins. Do you think this is a good idea? —Roderick Gaerlan, Redondo Beach, Calif. Answer: Ever since the financial markets began going haywire this year, I've been getting lots of emails from people who are considering buying gold as a way to weather the crisis.

That, I can understand. Investors have come MORE

No one knows when we'll reach a bottom, but you can get a great bargain, if you shop around.

Questions: Given all the foreclosures and other problems in the housing market and the economy, do you think this is a good time for someone to buy a house? Or would I be better off waiting for the housing market to recover? —Mari, San Francisco

Answers: If you're asking me to predict MORE

Question: I have a loss on stocks in my IRA account. Can I sell those stocks and then use the loss to offset gains outside my IRA?  —Michael L., The Woodlands, Texas Answer: Earlier this week, I wrote a column explaining how investors may be able to capitalize at least a little bit on the current market slump by harvesting investment losses in taxable accounts and trimming their tax bill in MORE

Question: I'm 66 and have major stock losses in my investment accounts. Can I use those losses to reduce what I'll owe in income taxes? —Ben G., Roanoke, Texas

Answer: Unless the stock market does an abrupt about-face and claws its way back into positive territory in the next two months, a lot of people like Bennie here are going to be sitting on some pretty nasty losses for the year.

Well, MORE

A market dip in the years before retirement can be scary, but bailing out of stocks isn't the answer. Here's how to make sure you're still on track. Question: I am 61 and plan to retire in about eight months. Given the current market, do you think I should withdraw some or all of my 401(k) money and put it in a safe place that is covered by FDIC insurance? MORE

Question: Does the current crisis have any effect on my defined-benefit pension plan?  I just turned 55 and was getting ready to start drawing from it. Will the amount I receive change now? —Lynn, Hephzibah, Georgia

Answer: The short answer is no. Just because the stock market has been reeling and the economy is in a major funk, your employer can't reduce the size of the pension you've earned or take MORE

Question: If an investment firm like Fidelity or T. Rowe Price goes bust would I lose the money I have in mutual funds in IRAs and other accounts? —Gerry Cheok, Gaithersburg, Maryland Answer: Already in this financial crisis, we've seen investment banks, commercial banks and mortgage firms fail or require some sort of government bailout to keep them afloat.

To date, however, no mutual fund companies have bitten the dust or required MORE

Question: I am currently contributing 15% of my salary to my 401(k). With the current crisis taking a toll on the stock market, would it be a good idea to reduce my contribution to 10% and place the additional 5% somewhere else? —Verona, Savannah, Georgia Answer: Without a doubt, the last few weeks have ranked as the most tumultuous - and scariest - times that I've experienced in the more than MORE

Question: I have $100,000 in an annuity with AIG that my mom and I depend on for income to live. Should I cash it out even though I would suffer a loss, or do you think I should hold onto it? It's so hard to know what to do. —Kitty Schwartz, Plano, Texas

Answer: Most people buy an annuity at least in part because they see it as a refuge, an MORE