Jennifer's Compass

Viewer emails about money issues

There's been no shortage of viewer questions to answer this week. Click below to see the segment answering these:

• My father set-up a trust to pay for my son’s college tuition. He starts in the fall but it turns out the trust is all IBM stock. Should I sell the stock now or wait?

• I was laid off from my job in the spring. I’m finally interviewing with Citibank, but I’m concerned about their stability if they’re buying Wachovia. Should I keep looking and hope to find something else?

• I’m moving out of state for a new job. I don’t have a mortgage, but my house has gone down in value so much I’m considering renting it out until the market recovers. Will renting also help on my taxes?

• My broker called me on Friday and said she wanted to sell all my stocks. She’s been warning me for two years that this was going to happen. I wish I’d listened to her before, but what do I do now?

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What's an investor to do?

September saw more stock market volatility than we've seen in a long time. It's ok when volatility means the account balance is rising but not so fun -- and for many very unnerving -- when the balance goes down for more than one statement in a row. We just finished both the month and the quarter so the account statements are in the mail.

Are you ready to open them and look at your balance? Remember, focus on your asset allocation; not just the bottom line number.

Staying the course with your asset allocation, even during times like these, is an important part of your financial plan's success. Yesterday we offered portfolio tips for folks nearing retirement, retirees, retirement savers who are still working and people getting ready to send their kids to college.

Viewer questions focus on bank safety and credit availability

When the economy trembles, investors look for a safe place to store their money. Viewer questions this week included concern about the safety of annuities, muni bonds and banks. Another viewer wondered whether or not to close a frozen HELOC after he paid it off.

Click here for the questions and the video segment.