DEAR BRUCE: I will be starting college this fall. I have been listening to your show with my parents for many years. I work 35 hours a week and will be a full-time student. My dad seems to think I ought to get a credit card. I'm not sure why, but I guess it's a good idea to start building credit. What do you suggest? -- E.W., Pennsylvania

DEAR E.W. Congratulations on being a hustler and getting your degree. Many people will say to do both is not possible, but people like you will prove them wrong. It may very well be that you will have to have your dad's signature to get a credit card, although many companies are very liberal in issuing cards to college students. Just bear in mind that a credit card is a tool. It's neither good nor bad, but, like any tool, it can be abused.

DEAR BRUCE: My husband and I are in a major disagreement as to what we should do about our savings. We have a combination of 401(k) accounts, Roth IRAs and other tax-sheltered accounts, all of which are in mutual funds. Needless to say we've seen nothing but losses over the last two years and have lost about 40 percent of our retirement savings. We are both 44. My husband contributes the maximum to his, but I have not been able to for the past year. Currently, we are investing $150 a month each into our Roth IRAs. I'm ready to pull out what I have and invest in bonds or a money market. My feeling is that we won't gain much, but we won't lose anymore, either. My husband feels that we don't lose anything until we sell and that we should keep buying while the share price is low. I totally respect your opinion and have an open mind. -- I.P. Las Vegas

DEAR I.P.: Your letter could have been written by hundreds of thousands of folks who have had the same experience over the past year. The economy is in the tank, but hopefully it is on its way back up. Given your relatively young age, I think your husband is on the right path. It's a bit late to get out now. You've taken what most people feel is the biggest part of the hit. When these securities recover, as most will, you will then be stuck with bonds that very likely will be going down in value. If they are held to maturity, you will receive your principal. Many times, people buy long-term bonds because the interest is a little higher. When the interest rates go back up again and the resale value of the bonds go down, they've found a double whammy. I'm inclined to agree with your husband.

DEAR BRUCE: I'm 60. The company that I've worked for almost my whole adult life has gone bankrupt. At my age, it's very difficult finding another job. I am several thousand dollars in debt with two credit cards. Do you think the credit card company would be willing to accept 50 cents on a dollar for a full payoff? -- Reader, via e-mail

DEAR READER: Unfortunately, I doubt the company will take that deal unless you are very much in arrears. As long as you are current from their perspective, you are good for the money. They advanced the money to you and they expect to get paid. Seldom are companies willing to negotiate unless they feel that unless they do negotiate, they will receive nothing. But in these hard economic times, it's worth a shot to at least see what they have to say. While you certainly have my sympathy I seriously doubt the companies will negotiate unless you are in default.