Choosing where to invest your retirement savings is confusing enough, but when your employer starts throwing out terms like 401(k) and 403(b) it can difficult to know where to put your money. CNBC personal finance expert Carmen Wong Ulrich explains the differences between a 401(K), a 403(b) and a Roth IRA.

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Filing for Chapter 7 bankruptcy is just the first step in a long process. Once you've filed you can be rejected or told to reapply under Chapter 13. To find out how long the process will take you, advises CNBC personal finance expert Carmen Wong Ulrich, consult a bankruptcy lawyer who'll look at your personal situation and give you an estimate.

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Do you really need a financial advisor to help you manage your money? That depends on your financial situation, says Carmen Wong Ulrich. Before you pay someone to tell you how to allocate your money, look at where it all goes. Do you have enough in savings to cover all your living expenses for between 6 and 8 months? Are you debt free? If the answer to both of these questions is no, then Carmen recommends that you focus on saving more and paying down your debt. Watch the video to find out more about when you need to find a financial advisor.

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Are online will services a safe way to protect your assets after you're gone? If you shop around for the best price and check out the website carefully, getting a simple will drawn up online is an affordable alternative to consulting a lawyer, says CNBC personal finance expert Carmen Wong Ulrich. Watch the video to find out what to look for.

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 Find more information on coping with the economy with our Bail Yourself Out resources.

Gold prices hit a new high this week, so you may be thinking that now's the best time to sell some of that old jewelry that you never wear. But before you send your bracelets and necklaces off to an internet service, CNBC personal finance expert Carmen Wong Ulrich has some important advice. From working with a local reputable jeweler to shopping around, watch the video as she explains how to get the best price for your gold.

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If you're unable to pay your full tax bill, don't panic. Calling the IRS to work out a payment plan is your best option, says CNBC personal finance expert Carmen Wong Ulrich. You may find that the agency is surprisingly willing to waive some of the penalties and fees and to work with you to arrange payments that you can afford.

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Even if you don't have children, it's a good idea to have life insurance anytime someone else depends on your income or services for their livelihood, says CNBC personal finance expert Carmen Wong Ulrich. That means that you need enough life insurance to cover the loss of your income as well as the cost of hiring someone to do everything that you currently do from cleaning and cooking to laundry and chauffeuring the kids to practice. Watch the video to find out more about how much life insurance you really need and which products are the best for you.

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If you've made some mistakes with your credit in the past, it can take a long time before your credit improves. There are things that you can do, though, to reestablish a healthy credit score. For starters, pay on time, every time, says CNBC personal finance expert Carmen Wong Ulrich. And pay down your balances as soon as possible. Watch the video to see more things you can do to repair your credit report

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Withdrawing funds from a 401K can be incredibly expensive. Between taxes, fees and other penalties, you could wind up paying almost half of your retirement savings. Although the best financial move is to leave the funds in your 401K alone, advises CNBC personal finance expert Carmen Wong Ulrich, if you need this money to pay your bills as the result of a job loss or illness, there may be a way to avoid some of these charges. Ask your plan administrator if you're eligible for a hardship withdrawal. Watch as Carmen Wong Ulrich explains.

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As the numbers of foreclosures continue to rise, you may be wondering what would happen to your home if a sudden job loss or illness left you without an income. Some companies are even offering mortgage protection insurance to help you protect yourself in just such a situation. Before you purchase a policy, CNBC personal finance expert Carmen Wong Ulrich has some suggestions for how you can protect your home without paying the high cost of these insurance premiums.

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Most basic online retirement calculators say that you need 85 to 90 percent of your previous income in order to maintain your quality of life after you retire. This may not be the case for everyone though, advises CNBC personal finance expert Carmen Wong Ulrich. The amount of money that you'll really need to retire depends on many factors including whether you live below your means and if your mortgage will be paid in full. Watch Carmen explain the variables and how you can tell if you have enough savings to enjoy your retirement.

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Buying a home is a great investment. It's also a big step for couples whether they're married or planning to live together. It can often put a strain on the relationship, especially if both partners are contributing to the costs of the home but aren't sharing equally in the investment. If you're contributing to the down payment or mortgage payment, make sure your name is on the deed, even if it means paying a slightly higher rate. A slightly higher payment now could prevent some big problems down the road, advises CNBC personal finance expert Carmen Wong Ulrich. Watch the video to learn why.

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The holidays can be an expensive time. After entertaining and giving gifts to family and dear friends, there may not be enough in the budget to contribute to office parties and gift exchanges. Don't let the pressure to contribute drive you to spend more than you can afford, warns CNBC personal finance expert Carmen Wong Ulrich. See Carmen's suggestions for avoiding or spending less on these office gift exchanges.

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Shopping for a mortgage can be confusing. There are so many different types and terms that you need to know. For example, some banks offer pre-qualification while others offer pre-approval and even others offer both. So which should you choose? CNBC personal finance expert Carmen Wong Ulrich explains the difference and why getting pre-approved can move you to the front of the line when you're looking for a new home.

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As the price of gold climbs while the stock market falls, many people are investing their money in this precious metal. Beware though, should you sell or give away any of your investment, you'll still owe taxes on the amount you've earned, warns CNBC personal finance expert Carmen Wong Ulrich. Watch Carmen's tips for knowing when and how much you need to pay the IRS when you sell gold, silver, stamps or gems.

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Keeping separate bank accounts for your savings and emergency funds may seem like an unnecessary extra step, but if you've had trouble putting away money for a rainy day, this extra step could actually help you save. Separating your emergency funds will make it just a little more difficult for you to dip into that money, says CNBC personal finance expert Carmen Wong Ulrich. See her advice for making sure that you're getting the most from your accounts.

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Watching your retirement saving drop as a result of falling stock prices can be frightening. As your nest egg dwindles, you may start to second guess your savings choices. Should you direct your money to an annuity instead of a 401K or Keogh plan? Annuities can be expensive and charge you hefty fees, advises CNBC personal finance expert Carmen Wong Ulrich. Before you reallocate your funds, check out Ulrich's advice for an easier way to repair your retirement investments.

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I keep hearing that real estate is a buyers market right now. Prices and mortgage rates are low, making it a great time to buy. Before you can take advantage of these great rates, though, you'll need a sizable down payment and great credit. But which of these is more important to lenders? Should you save money towards a larger down payment or use your savings to pay down your debt and thereby improve your credit score? Borrowers looking for the best rates should have a credit credit score of at least 760, advises CNBC personal finance expert Carmen Wong Ulrich. Watch this video to see Carmen explain why.

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If you're like me, you probably have a bunch of store credit cards that you never use. You know, the ones you opened to get 20 percent off your first purchase and then never used again. If you're cleaning up your credit history, you may be tempted to close out some of these accounts. Before you do, though, be aware that this can actually hurt your credit score. Closing them suddenly can raise your debt utilization ratio and bring your score down. CNBC personal finance expert Carmen Wong Ulrich explains.

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Many companies offer a 401K to help you save your pre-tax dollars for retirement. But is this enough money for you to live comfortably after you retire or should you also be putting funds aside in a Roth IRA? The answer, says CNBC personal finance expert Carmen Wong Ulrich, depends on how much you will be taxed when you go to withdraw from these accounts. Watch as she explains the differences between the 401K and the Roth IRA and how to know which is the right one for you.

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