Each Monday from 5:00-6:30 p.m. on NBC3 we answer your live questions in our "Ask the Experts" phone bank and online chat.  Our panel of Certified Financial Planners for october 24th included:
Dennis Hebert, Strategic Wealth Advisors
Grace Ghezzi, Benefit Consulting Group
Ted Sarenski, Blue Ocean Strategic Capital

Among our topics:
>The President's proposed mortgage bailout:  this plan is already in effect, but Mr. Obama proposes extending to anyone who wants to refinance at a lower  as long as have made their last six payments on time, but are still struggling.  The proposal would also help with new closing costs, for Freddie Mae or Freddie Mac-backed mortgages issued before 2009.
The President would do this extension by executive order, but it's not in effect yet.

>Long-term care:   A viewer emailed concerns about the high cost of extended care, and said there were no Medicare-subsidized nursing home beds in Onondaga County.  Actually, the number of beds is limited, and once you are in extended care it can be a huge drain on assets.  The suggestion: long-term care insurance, which is relatively inexpensive, and there's actually a tax credit for it, as well.  And, for finding care help, check with your county's Department of Aging (in Onondaga County it's 435-2362  or  www.ongov.net/ay/    

>'Free' retirement money:  It makes sense to consolidate retirement accounts, into an IRA where you have more flexibility on choosing investment options.  You can do it at retirement, or  move the account without penalty when you change jobs.
And, while you're working, make sure to take maximum advantage of employer matches:  contribute the maximum from your paycheck to take advantage of what your employer puts in 'free', and also make sure that you're contributing in the right time frames--if you 'max out' early in the year you may not get late-year matches of 'free' money.  Check with your HR or finance people, or look at last year's salary summary to make sure you're doing it right.

>End of year tax planning:  You can start to take advantage, now, of the market's craziness.  If you have stocks that have lost money (not in your IRA!) you can sell them and get a $3,000 credit.   And, you can make charitable contributions for tax 'credits'--both need to be done by the end of the year, but you can make your contributions now, and spread them out so you don't make a lot of payments at the end of the year.

>Financial moves as you get to retirement: 
1.  Move out of company stock so that you're not heavily invested in one place (if the company crashes...)
2.  Review your estate planning to update your will, end of life wishes etc.
3.  Re-evaluate your life insurance.  Term insurance may end, and need to be converted, and you may not need as much.
4.  Investigate, and invest in, long-term care insurance.  The earlier you buy, the better your rates will be.

Our  advisors are back next Monday, but you can always email your questions now at money@cnycentral.com.  Click on the widget below to see the online discussion for Monday, October 24th.