Need advice about how to handle your personal finances? Whether the struggle is saving for retirement, organizing your bank files, talking about money responsibility with your spouse or loved one, Post personal finance columnist Michelle Singletary offers her advice and answers your tough questions.

A transcript follows.

Read Michelle's latest columns, check out her Color of Money Book Club selection archive or sign up for her weekly e-mail newsletter.

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Michelle Singletary: Welcome to another online discussion for the Color of Money. I see there are lots of questions already so let's get started.

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Falls Church, Va.: Hi Michelle, love your column and live discussions. I last checked my credit report in October and I have about 4 negative accounts. They have been paid or settled within the last 5 years. One states that it will continue to report until 2/2008 and another 4/2008. The other remaining 2 will report until 2010/2011. How will this affect my credit score? By how much? My credit score was around 670 last I check, will this bring it up above 700? I am in good standings with all my accounts. I have never been late on my mortgage and car loan and I have one credit card that has a balance of 30 percent of the credit limit. I appreciate your feedback.

Michelle Singletary: You should be in good shape and as long as you continue to pay your current bills on time you should see your scores rise. By how much I can't tell you. They keep that stuff super secret. I would however do more to get that credit card bill paid off. That too will boost your score.

Also keep in mind that the older the negative information is the less impact it has on your scores.

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Silver Spring, Md.: We stayed out of the housing market and have been renting because we could get a much bigger place with a very easy commute than we could buying. But now the slump/collapse/slowdown in the housing market has us reconsidering our decision. Do you think we should rent for another 12 months or think about buying soon?

Thanks!

Michelle Singletary: Oh my if I had the answer to that I could make a fortune.

If I were you, I would meet with a good, well established real estate agent and begin to look at homes in the area and price range you can afford. The only way to tell if this is the time to buy is to do some research. It's a good time to but when you are ready and you have the credit and cash to make the purchase. And just know it is a good time to be a buyer, especially one who doesn't have a home to sell in order to buy.

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Washington, D.C.: I have 30,000 of debt 16,000 is student loans. I have the opportunity to purchase a condo for $200,000. I make $50,000 a year. I currently pay $800.00 in rent. I have been preapproved for a $350,000 home loan. I want to get a fixed 30 year mortgage for the condo. Purchasing the home will give me back 20% back cash at the day of closing. Do you think this is a good deal? If so should I use the 40,000 to pay off debt or save all for rainy day fund. My credit score is 688. I pay all my debt on time, just having a hard time paying everything off. Please, please, advise. A big fan of Michelle's. Thanks!!!

Michelle Singletary: When you say you wil get cash back, do you mean you will be pulling out equity, which means it's borrowed money?

More debt?

If so, I wouldn't do that. What you are suggesting is just adding more debt to your situation. And you don't use debt as your rainy-day money. You use real money. Cash you have saved.

Also, be sure to do the math to see if you can handle the home loan PLUS pay off that debt and still save.

$50,000 after tax still isn't a lot when you add in $30,000 in debt payments.

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Washington, D.C.: re: Negative Accounts. I checked my credit history on New Year's Day and got my scores. There were three negative accounts, but they were all quite old and the rest of my credit was good. My score was well over 700, so there is hope for you!

Michelle Singletary: More than hope. If your score is in the very high 600s and approaching 700s you are okay.

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Manassas, Va.: I made about $30K last year in my second job working as a consultant, which will put me over $100K/year for the first time. None of the paychecks from those $30K were deducted for taxes. I might have to pay a hefty tax bill.

Is it worth to earn more money yet have to pay higher taxes? I'm not so sure.

Michelle Singletary: I'm feeling you on this. But keep in mind, if you have to pay taxes you made money. That's still a very good thing.

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Chicago: How long should bank statements, withdrawal receipts, 401 statements, investment for college fund statements, etc.

Michelle Singletary: If you mean how long you should keep these documents, I would keep bank statements for at least a year and certainly until you have made sure all items are accounted for and balanced. If any of the statements contain informaiton you need for tax purposes or for large purchased you might need to prove for insurance purposes, keep until you no longer have the item or several years after the tax year.

You can get rid of your quarterly 401 (k) statements after you get the year-end statements. Keep the year-ends for a few years. Same with college savings statements.

Withdrawal receipts you can toss when you get the statements to back them up. Hope that helps.

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Washington, D.C.: Hi Michelle - I always like to hear what you have to say, even if I don't always agree, and you give such good inspiration for paying off debt. Anyway, I just wanted to write in to say that we started off 2007 with $9,000 in private student loans, and we finished off 2007 with $0! (There's still the federal loans to go, but those have a much lower interest rate, so we're doing all right.) The next goal is to really boost up our savings so we can buy a house in the next few years. So, here's to great financial health in 2008!

Michelle Singletary: Brava or Bravo to you!!!!!

Love debt payoff stories.

And what, you don't always agree with me? How could that be :)?

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Prince George's County: Hi Michelle,

What do you think of the wisdom of renting out your house to move into a rental in a different neighborhood. My wife and I are on the verge of making such a move. We like our house and neighbors but don't like our neighborhood. We want to move to a better neighborhood but we can't afford to buy in the new area yet (nor would we want to right now) but we can rent the equivalent of our dream home. For the past two years we have commuted to the new neighborhood to hang out, shop and work. We live in one neighborhood but our entire life literally revolves around another. The rental in our new area will be $800/month more than our current mortgage but we will save about $400 in gas and parking because we can Metro to work from the new place. We can rent our house out at a break-even price. It goes against conventional wisdom but I think it makes sense.

Michelle Singletary: Sounds like you have really thought this thu. If so, go for it?

Just we very, very careful and check all references, etc. for the renters in your current home. In this martket you don't want some triflin renters to wreck your house and then you have to sell it in an already ultra-soft market.

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Anonymous: Hi, Michelle,

I'm going to refinance my mortgage from an ARM to a 30-year fixed. I've got 15K in credit card debt. Should I roll this debt into my new loan? Is that a bad idea?

Thank you!

Michelle Singletary: Nope. No rolling. Because if you are like many people you will turn that $15,000 into a 30-year loan.

Be discipline and pay off the $15,000 by cutting expenses, getting a second job, etc. Read the results of the Color of Money 2007 Challengers who spent the year trying to get rid of credit card debt -- without getting a loan, refinancing into into another loan, etc.

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anywhere: Hi Michelle!

how can we help our nieces? They are young (under 25), working, but no retirement or savings. They are not encouraged to do so or given an example at home.. one just wrecked her car and is planning on buying a brand new, more expensive model than she had before-that is what the parents do.

Can we do anything to help them?

Michelle Singletary: Talk to them. Give them advice. Actually give them the information. Show the one niece how much her car payments will be. Show her on paper how a little savings can add up.

See if they will allow you to help them do a budget (you can find a worsheet in the Post biz section).

Pray they get some common sense.

But most importantly just keep talking in a non-judgmental way. That's all you can really do.

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PGH, Pa.: I have an ongoing dispute w/my friend, who is acting as my informal financial advisor. He thinks that when I get this year's tax refund (probably $1100 or so, and yes, I have adjusted my w-2 for 2008) I should make a savings account with it. Right now I don't really have any savings, but I still think I should put it toward my credit card debt(currently 3300 @ 12.5% annual interest. I budget & pay about 350 a month toward it, so I should have it completely paid off this year).

The problem I have with savings is after I've wasted money on frivolous things during the month I always empty the savings account to cover them. At least if I put it toward the Visa bill I would lower my debt, and I kind of force myself to spend according to the budget without going over.

What do you think? I can't even imagine having 6 months of living expenses or anything grandiose like that in savings at this point.

Michelle Singletary: Your friend is right. But I see your point. You aren't disciplined. So perhaps this isn't a money question but a why can't you control yourself question?

You do need that safety net. If not six months, then one or two months. I bet that $1,100 isn't even close to one month's of your living expenses.

What you need is to budget but you know that, right.

So instead of using up ALL your paycheck and pay down that credit card debt leaving you without a cushion make this the year you institute some financial self-control.

Get your friend to help you create a better budget. And you might even try taking out the cash for the various things you need and putting it into envelopes. Then when the money is gone for say eating out, it's gone. You can't get more.

What I am saying is force yourself to do this the right way so you have a cash cushion. You have a good friend, giving you good advice. Follow it.

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Anonymous: Hello, again,

I'm the one who asked about rolling the 15K in credit card debt into a new 30-year mortgage loan.

Wouldn't it be better if I did this because I'd be paying a lower interest rate on the debt? I would promise never to get into credit card debt again!

Thanks!

Michelle Singletary: Right, but unless you pay off that $15,000 soon you will be taking many, many, many years to pay if off at whatever interest rate, in the end costing you more money.

You aren't paying off that $15,000, you are just moving it into another loan. Just buckle down, cut expenses and pay if off without rolling it into your home loan.

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Chicago, Ill.: Michelle - As a woman of color, I'm very frustrated with my fellow African-Americans at work. I work for a small company - about 100 full-time employees - and 10 percent are African-Americans. Among other things, I manage our company's 401(k) plan, which includes an employer match. I was reviewing 2007 data yesterday and it struck me that I was the ONLY African-American who participated in the plan. 1 of 9 people made me very distraught, and to top it off, 85 percent of eligible white employees participated in the plan. Income level didn't seem to play a factor in either group - there were higher paid African-Americans not participating, and lower paid white employees who were participating.

Do you have any tips for me to shake up my coworkers and let them know they're passing up free money?

Michelle Singletary: That's an interesting and sad stat.

Would your company allow you to hold a forum to discuss why more don't participate. You can't always go on income. Perhaps the black workers have so many other family obligations that they can't see how they can contribute to a retirement fund. One survey found that blacks are twice as likely as whites to be taking care of other family members.

So you need more information on the way. Don't make judgments yet. I would also recommend you suggest to management to institute an automatic enrollment for ALL employees. Companies can do that now, especially when they see low participation rates.

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Sunderland, Md.: Credit Card Question. I have two credit cards with balances on both. Once card I owe $900 w/a $10k limit, 5.9 percent rate. The other card $350 w/a $14k limit, 9.4 percent rate. I want to use my tax refund to reduce the balance on both and/or pay off the smaller balance and pay down the larger. I also want to put some of my refund into my savings, which needs it. The larger rate card with the lower balance I have had for 10 years, that why I keep it. Any suggestions?

Michelle Singletary: Why not pay off in total both cards. You have $1,250 in debt on both cards. I don't know what you are getting back, but if you have some savings, enough for even one month of living expenses I would use the entire tax refund to pay off both cards. Debt isn't a pet. Don't keep it around.

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Fairfax, Va.: Hi Michelle,

I'm submitting early because I'm not sure I'll be able to be online during the chat.

The recent chat about money scripts got me thinking about me and my spouse's own attitudes towards money.

We are currently living well beneath our means, though we certainly have everything we need and much of what we want. When our household income went up we chose to stay renting our 1BR rather than "move up." We are saving $1,500 to $3,000 per month, on top of each doing the maximum contribution to our Roth IRAs and maximizing my employer's match for my pension fund.

We have no debt whatsoever (no student loans, car payment or mortgage, and we always pay off our credit card every month), and on top of that have fairly significant assets thanks to gifts and inheritance from my side of the family. To give you an idea, if we were to hypothetically sell all the stocks, we could afford to pay cash for a 2BR condo in the city.

I believe that we are in an INCREDIBLY fortunate position for a young couple. However, my husband is forever thinking about our financial situation -- strategizing how we can save more, budget better and complaining about how we waste too much money on things (Christmas gifts, inevitable car repairs, my own shopping which, is by no standard extravagant, etc). He invests a great deal of his spare time in analyzing these numbers and talking to me about it.

I appreciate his desire to save up money to ensure a secure future for us, but sometimes I worry that he is sacrificing his enjoyment for life (i.e., shorter vacations than necessary) at the expense of constantly thinking about money.

I almost feel stupid submitting this question when there are so many people out there with real financial challenges we are so fortunate not to have, but am I out of line for thinking he expends too much energy on money matters?

Michelle Singletary: Girl, don't feel stupid. I'm your husband. I know what he feels -- fear.

And you are right to be a little concerned. My husband is forever getting on me to stop worrying about money. For me it's not about the ability to buy stuff. When come from a low-income or poor background often you worry about financial security.

What helped me was to do our net worth statement. You can download a template from the Post biz section.

When I saw how much we were worth and how little debt we had compared to what we were saving and owned, I did feel better. Try that.

And just keep talking to him. Ask him what he fears? Tell him that you both work hard you if you are saving and investing wisely, it won't kill him to take a one or two-week vacation. Tell him I do. Every year. Two weeks at a 5 star resort (with kids in tow). It's a journey so be patient with him.

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Washington, D.C.: Michelle,

What are your thoughts on credit-watch agencies? Our credit card company is offering to watch our accounts, to see if anyone tries to open new accounts under our name, etc., so I was comparing prices between what they quoted us and other companies out there. Are these worth it?

Michelle Singletary: I bought the service once. Cancelled it.

Just watched my own credit reports.

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Centreville, Va.: Michelle -- I just wanted to thank you for your columns and chats. My husband and I got pregnant at the end of 2006 and I completely panicked about our finances. Your advice helped us come up with a plan for saving for maternity leave (unpaid), paying down debt, and adding to our savings. I'm happy to report that in about 10 months, we were able to save enough money for my leave, pay off two credit cards (and make good progress on other cards), pay off a loan early, and add more money to our emergency fund. I know that it's small progress (we have more cards to pay off and more savings to accrue), but I always look to your advice to keep us motivated. Looking forward to being debt free in 2008!

Michelle Singletary: How sweet and good for you and your hubby. Hope the baby is well.

I love stories like this. It's all about a plan and getting control. And I think it's great that you realize it won't all get done like yesterday. Take your time, keep planning and you will be debt free. And oh what a feeling!

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College Park, Md.: To get my debt under control, I took a personal loan at 12-percent versus the variable credit card rates. The personal loan gives me a set term to repay the loan, and saves me over $150 compared to making just minimum payments. My issue is one credit card has a low balance transfer rate of 4-percent, which if I adjust my payment over the same term i would save an additional $100 or more in monthly payments. However, the teaser balance transfer rate (and one late payment) has me in my current dilemma where the rate has increased to over 25 percent at times. Should I stick with my personal loan or go for lower payments with the credit card balance transfer?

Michelle Singletary: I think what you are asking is should you transfer the money from one card with a 25 percent rate to one with a teaser of 4 percent. If there isn't a fee, go for it.

And I would urge as much as you can to speed up the payment on the credit card and the personal loan. A 12 percent rate is still high. Just be a madman or woman about getting rid of this debt.

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Union Springs, Ala.: Hello Mrs. Singletary,

I am a 24 year old female with credit cards debts up to $4500.00. So here are my questions:

If possible, could you name some good debt/consilidation agencies? What is that I am looking for when choosing a good debt consilidation agencies?

Michelle Singletary: First, you don't need a debt consolidation loan. At such a young age and I'm guessing no kids or other obligations, get a second job, cut expenses, etc. and get rid of that $4,500.

If you need help with a plan or budget go to www.debtadvice.org.

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Should I invest or save: I work at a company which is rumored to be selling in the next few years. Although I have been herefor 16 years I have not purchsed any stock. Should I take the $5000...all that I have saved and purchase some to make up for lost time...or should I just get a little out of my check monthly and leave it at that without spending all of my savings. I feel bad because I have not been doing it all along. Imagine what I would have by now...oh well...Thanks!

Michelle Singletary: Keep your $5,000 savings.

If buying the stock is just one part of yoru investment plan, even if not implemented up to know than buy stock. But don't make it the bulk of what you are doing. Most experts say you shouldn't have more than 10 percent of your own company stock anyway.

And stop second guessing yourself. It will drive you mad.

Just do better going forward.

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Re: Fairfax's husband: Michelle,

Do you think he'd be willing to come over to my place and look at our finances. We've got lots of student loan debt, a timeshare we can't afford, nearly $20K in credit card debt, a freeloading relative, a car I want to sell, and more. I'm drowning here. The ends used to meet. Now, they are a long distance phone call away.

Michelle Singletary: That's funny in a sad way.

So first let's breathe. Seriously, right now take a deep breathe. Now let's get a plan

-- First go to the biz section (personal finance) and look for the budget worksheet I've created. Do the budget and I mean it. Sit down with your spouse, gather up all the bills, checkbooks, etc. and budget so that you aren't overspending every month. This might mean doing some heaving cutting, which brings me to the next step

-- Kick the relative to the curb or ask for rent. You used the word freeloading so I'm assuming this person can pay something, anything. Do it. Now. Today. Noone takes advantage of you unless you LET HIM OR HER

-- -- Today, both you and your spouse go to the benefits office and begin to have some money taken out automatically to save for your emergency fund. I don't care if it's just $20. Do it.

-- Start doing the research to sell the car. Go online to edmunds.com or kbb.com to see what it's worth. If you don't want the hassle of selling it privately try Carmax.

-- If you bought the timeshare from a large hotel chain (which I hope you did) call them up and see if they have a resale program. Take whatever you can get to unload it. It may mean you still have a loan balance but that's okay.

-- Pull all the credit cards out of your wallets, seal them up. Stop using them and then devise a plan to pay them off. Start with the card with the lowest balance. Pay just the minimum on the rest. When you pay off the card with the lowest balance take that money and apply it to the next card with the lowest balance, and so on

-- The student loan debt may have to wait until you get control of the other debts.

You see when you have a plan things don't feel as out of control.

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Bethesda, Md: Michelle, can you or your producer provide a link to the net worth statement template? I'm looking in the personal finance section and don't see it.

washingtonpost.com: Here's Michelle's Net Worth Statement (pdf) and the Budget Worksheet (pdf)just in case. Cheers.

Michelle Singletary: Here you go.

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To Manassas:"Is it worth to earn more money yet have to pay higher taxes?"

A lot of people think it's "worth it" to play the lottery, even though if they actually did win, they'd have to pay about $2 out of every $3 toward taxes. With a job, you get to put about $2 out of every $3 you earn into your pocket -- and you're guaranteed to actually get the money in the first place. I'll take that bet, thanks very much.

Michelle Singletary: Good point.

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30-year payment? :"Wouldn't it be better if I did this because I'd be paying a lower interest rate on the debt?"

You want to pay for those Olive Garden dinners for the next 30 years?

Seriously. Sit down and do the math on this one if you haven't already. "Lower" doesn't always equal "better"-- especially when "lower" means "longer", as in this case.

Michelle Singletary: That's what I said, but helps to say it another way too.

Thanks.

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Wheaton, Md: My husband is self-employed but avoids accounting until the April taxes are due. Then he gets and extension and avoids them some more. So far we have not filed 2005, 2006 and I assume 2007. This is just denial because we usually get a refund since his business usually has a loss.

The same firm has been doing our taxes for the last 10 years. It is only a matter of getting the checks and totals together. I didn't used to get involved until he loaned his business the equity from our home.What do you recommend?

Michelle Singletary: Cook a nice dinner tonight and confront your husband in a loving way that this has got to stop.

Force the issue. Tell him tonight, you will help to round up all the paperwork to take to the tax firm.

Your home is on the line so keep at him -- again in a loving but firm way.

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Washington, D.C.: re: 401k participation rates. I know that companies cap the maximum contribution rates of highly paid employees. I have also heard that this cap is due to low participation rates of lower-compensated employees. Do you know if this is true? If it is, it might help the previous poster convince her management that the company should sponsor a 401K meeting and/or automatically enroll new employees into the plan. It would allow the big-wigs to contribute more tax free money!

Michelle Singletary: Passing along the good tip.

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New Hampshire: Hi, Michelle! Writing from NH, where you can't swing a live chipmunk without hitting a presidential contender these days. I have a question about tithing: I've read in past columns that you and your husband tithe. I wasn't raised in that tradition, but my husband was, so it's hard to wrap my mind around the amount you tithe: the gross or the net of your paycheck? My husband received a $5,000 bonus and gave $500 to our church, even though (once taxes came out), we only wound up getting about 1/2 of the 5K...so to me, he gave more than 10% because the 5K was theoretical money while the amount we actually received was the real amount. How do you see this?

Michelle Singletary: Oh my dear, are you really prepared for my response?

The way I was taught in my church you give on your gross. So your husband was right about the $500. As one pastor said, "Do you want a net blessing or a gross blessing?"

Now I say that in jest because you don't give with the expecation that you will get back. But I understand your hestitation. It really does take a great act of faith to tithe and especially on the gross. But scripture says you tithe on your increase. Not after you save, pay taxes, pay the bills, etc.

I will say this, since I became a tither I have learned that it makes you handle your money better. You have to.

Talk this over with your husband, get his insight and I do hope and pray you both come to be comfortable about this. Perhaps one day you too can wrap your mind around this type of chartiable giving. And keep in mind if you belong to a church or religious organization that is using tithes well, you are helping a great many people.

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Modeling good money behavior: Michelle,

As a big sister, I just wanted to give some examples of how talking about money and modeling good behavior works. When my youngers siblings get new jobs, I ask "Oh, are you enrolling in the 401k? Do they match?". When they plan on getting a car, I say "Thats great! Did you use one of those online calculators to see what you can afford?" At this time of year, I mention to them how me and my husband are doing our annual budgeting. My sister even recently bought MS Money because she saw how much it was helping us! Really, that is all it takes to make a difference with your family and friends. Try it!

Michelle Singletary: I could kiss you. What a great way to model good financial practices. And I LOVE the way you just ask the questions.

You get a HUGE "You go girl."

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Washington, D.C. :2007 was a great year. I managed to pay off my student loans, car loan, and paid for 90% of my wedding myself. Having money automatically deducted from my checking account to my ING direct account was key. Hopefully 2008 will be even better.

Michelle Singletary: Love, love, love stories like this. It inspires me!

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Silver Spring, Md.: Hi Michelle. My husband and I are expecting our first baby this March. We don't have much extra income each month, but both of us feel strongly about saving for this child's college education. I'm guessing you'd recommend a 529, but what's a reasonable amount to put in each month? (By the way, we just paid off our last debt and will have a 25% downpayment for a house we hope to buy this year! Needless to say, I agree with you on nearly everything!)

Michelle Singletary: I would recommend a 529 plan. And go online and you can find any number of calculators to help you figure out how much to put aside each month.

I see you are from Md. look at the Maryland 529 plan managed by T. Rowe Price. I'm sure they have a calculator. And here's a bonus. In Maryland for each 529 account you get up to a $2,500 state tax deduction (if you invest that much). I do. Got three rugrats to put thu college.

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Madrid, Spain: I would like to know, if recesion comes, how is it going to affect personal bank deposit accounts?

Thanks

Michelle Singletary: For money in U.S. Federally insured banks you are protected up to the various limits.

So I wouldn't worry about bank deposits in the states.

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Houston, Texas: Hi Michelle,

I'm almost 30 and my husband is in his low 30s, we have two small children. Our current debt includes a mortgage, a car note, student loans and about $10,000 in credit card debt. I'm a very frugal person, I hardly spend any money. The debt is making me sick to my stomach (not the mortgage as much as the other stuff). My husband was unemployed for about six months, which is why we have the debt and he just started a good job. I know that we can pay down the debt slowly, but I feel imobilized just thinking about it. Can you give me some advice?

Michelle Singletary: You poor dear. First, stop beating yourself up. You went thu a bad time and now things are better.

Please try to focus on your blessings and trust me with time and budgeting the debts will go away.

You are not a bad person because you have debt. Just remember that.

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Washington, D.C.: My husband is the same as the other questioner's -- never feels like we can really relax and enjoy spending our money. Vacations are a real challenge -- it's hard for him to just "fritter" away money even though we both worked hard for it! So we laid out a budget for a vacation at the beginning of the year. A few hundred dollars a month goes into the vacation fund, which is a separate savings account at a high-interest online account. (I know you could just earmark the money, but this is easier for him to work with, plus it's free.) Then when we take a vacation, it's not as difficult for him because it doesn't "seem" like we're dipping into savings. The savings account seems untouched, and we planned for this vacation.

Michelle Singletary: Good, good plan. I like. Hope it helps others.

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Sunderland, Md.: Re:Paying off two credit cards. I think my refund will be around $1400 state & fed. I currently have just $750 in savings. Do I still pay off both?

Michelle Singletary: Pay off both and put the difference in your savings.

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SF: Hi Michelle, thanks for doing these chats!I have a fairly general question rhat hopefully you'll answer for me.I'm working at my first job out of college, making ok money, don't have any credit card debt, and lucky enough to have my school bills already paid off. As you seem to advise, I direct deposit a certain amount of my paycheck into a savings account as an emergency fund, and am putting enough into my Roth so that I reach the maximum employer match.

How much would you say I should get into the emergency fund vs. a life happens fund vs. something else? Am I missing anything for what I should be doing right now?

Michelle Singletary: Emergency fund -- Strive for three to six months of living expenses

Life Happens Fund -- for car repairs, things that happen in life you could start off with $500 to $1,000. If you have a hoopty than you may want to save more for bigger car repairs.

And at such a young age don't ignore saving for retirment. The best thing you have on your side it time.

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Michelle Singletary: Well folks I have got to run. I see there are still lots of questions left over and I'm sorry if I didn't get to yours. But I may answer in a furture column or my weekly eletter, so look for both.

Have a wonderful day and Happy New Year to all.

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