It's time to devote another column to answering your e-mails, because I know the readers below aren't alone in worrying about their investments and wondering how to keep their credit reports clean.

-- Shannon in Chicago, Ill.

DEAR SHANNON: What you need is a secured credit card. It looks like a credit card and works much like a credit card, but the difference is that you deposit a sum of money with the card-issuing company and that becomes your credit limit. The best-secured cards will also pay you interest on your deposit. As long as you don't pay your bill late or go over your limit, the card should automatically convert to a regular credit card 18 to 24 months down the road. Voila, you have a credit history. You can find a list of secured cards at cardweb.com.

DEAR JEAN: I will be retiring soon. I have no debt, receive Social Security and alimony, but I don't know if they will cover my expenses. I have investments in the stock market and a 401(k), but the value of most funds is dropping. I could get a reverse mortgage or liquidate my mutual funds and purchase an annuity. Which is best?

-- Jim in Annapolis, Md.

DEAR JIM: This is the stage of your life where you want to stop taking as many risks with your money and lock into some sort of income stream. Both immediate annuities and a reverse mortgage could provide that for you, but reverse mortgages tend to have higher fees than good immediate annuities (and they're really best for people who know they want to stay in their homes forever).

"If you need more money for basic expenses than Social Security will provide, you might want to consider an immediate annuity. Deposit a small portion of your money in one, then put the rest in stocks and bonds so you keep ahead of inflation and have an emergency reserve," says Walter Updegrave, author of "How to Retire Rich in a Totally Changed World" (Three Rivers Press, 2007).

How it works: You purchase an immediate annuity with a chunk of your retirement funds and it provides a guaranteed stream of income for life. The amount you should deposit depends on how much you need to receive as income each month; just keep in mind that you won't be able to get the money back in a lump sum. I used Money magazine's IncomeForLife calculator to run some annuity scenarios for you, and found that if you purchase a $50,000 annuity, you'd get a monthly payment of $373. $75,000 would get you $560 monthly, and $100,000 would net $746. Of course, you may be able to do better by shopping around.

DEAR JEAN: I have more than $25,000 in credit card debt. My 401(k) is currently losing money. Do you recommend taking money out to pay off the cards?

-- Jacob in Baton Rouge, La.

DEAR JACOB: It's not a good idea to pull money out of a 401(k) to pay off credit card debt. When you make an early withdraw, you're subject to taxes and penalties that can cost you 30 to 40 cents on the dollar.

An in-between alternative is borrowing from your 401(k). That's better -- no penalties, no taxes and interest is paid back from you to you -- but it's still not without its risks, and before you do it, you need to consider how long you plan to stay with your employer, says Dallas Salisbury, president of the Employee Benefit Research Institute. If you leave -- or lose -- your job, the plan can ask for the money back inside of 60 days.

I propose a different strategy: If you feel you are losing too much in your 401(k), move some of the money from stocks into the money-market option. Then stop contributing for a little while and put that money toward the plastic.

• Jean Chatzky is an editor-at-large at Money Magazine and serves as AOL's official Money Coach. She is the personal finance editor for NBC's "Today Show" and is also a columnist for Life Magazine. She is the author of four books, including 2004's "Pay it Down! From Debt to Wealth on $10 a Day" (Portfolio). To find out more, visit her Web site, www.jeanchatzky.com. With reporting by Arielle McGowen.