Money Coach Diaries with HLN's Money Expert Clark Howard

Having trouble managing money? Do your money goals seem impossible? Clark Howard wants to help you! We're looking for individuals or families who are willing to be profiled on HLN. Those chosen will get money advice and information from Clark Howard.

This week's question comes from Sona Chambers in Atlanta, GA.

Sona Chambers:

"My personal goals are to be financially fit by the time I'm 60 and to not have to be worried about where my next dollar is coming from or my next meal. I just want to be able to live comfortably. I have a 401(k) and a very small IRA from a previous employer.

What I'm really concerned about is that my 401(k) in the last year has lost $60,000 of its value. I think I should take that money and put it into a house or something in Florida instead of just watching it disappear. What I would like to do is make that my primary residence, take the money out of my 401(k) to pay for the house in Florida. And then when I sell my house in Atlanta, I would use the proceeds from that to pay back the 401(k).

All my friends always tell me not to take money out of my 401(k), that it’s not a good idea, but I just watched my 401(k) go down $60,000... I hope that Clark confirms what I want to do instead of what my friends are saying."

Tune in to Clark Howard Saturdays and Sundays at noon and 4 p.m. ET on HLN

Having trouble managing money? Do your money goals seem impossible? Clark Howard wants to help you! We're looking for individuals or families who are willing to be profiled on HLN. Those chosen will get money advice and information from Clark Howard.

Babysitting is a great way for teenagers to make some extra cash, but this teen wants to take it a step further.

KATHERINE:
I'm 16 and my main source of income is babysitting. I have a little over $830 in my checking account at a local bank. My account is a student account, and therefore earns no interest. I would like to think about investing in a mutual fund of some kind. I was wondering if you could tell me if that is a good choice. If not, what would you suggest?

CLARK:
There's a company called T. Rowe Price which is a wonderful company for you to look at for opening a mutual fund. And they will allow you to open one as long as you agree to put $50 every month into the account. And T. Rowe Price offers some magnificent mutual fund choices. And I'm going to say something really crazy for you at 16: I want you to go into their target retirement fund 2050. That's a long time down the road but you want to invest your money as if it really is for a goal far, far away.

For more advice from Clark, tune in to Clark Howard Saturdays and Sundays at noon and 4 p.m. ET on HLN.

Do you need a Money Coach? Send us an iReport video with your money questions and tell us why you need the Money Coach.

Having trouble managing money? Do your money goals seem impossible? Clark Howard wants to help you! We're looking for individuals or families who are willing to be profiled on HLN. Those chosen will get money advice and information from Clark Howard.

This week's question comes from Will Hickey in Arlington, VA:

I'm concerned about retirement. I have a 401k from my old job that I never rolled over. I have a 401k from my current job, and then I've got a little bit of extra money that I'm setting aside to invest, but I don't know what to do with it.

I’m really hoping to get a push in the right direction because there are so many different terms and ways to invest out there, so many different ways people talk about planning for retirement. I’m hoping to have a plan or be able to get the pointers so that I can formulate a plan for my retirement.

I really don't feel confident in the amount I have invested right now. I would've started my 401k earlier, but in my 20s I wasn't paying attention. Now, I have to.

Hear Clark’s advice for Will this weekend at noon on HLN.

Do you need a Money Coach?  Send us an iReport video with your money questions and tell us why you need the Money Coach.

Looking for a job? Not only is it harder to find one in this economy, but now you have to watch out for scam artists. More and more people are vulnerable to schemes that prey on people looking for employment, according to the Better Business Bureau.

1) The most common schemes

Some common schemes include having to pay for a credit report. You may be asked to fill out personal information on what is, in reality, a fake job application form. Or, there may be a fee charged on a background check. Scam artists may try to get victims involved in a money laundering scheme involving counterfeit checks. They may also try to get people involved in work-at-home scams where money is paid upfront for services that are never received.

2) Know the red flags

Here are some red flags you should watch out for. First, beware of spelling or grammatical errors. Most online fraud is done by scammers who are located outside the U.S. And their first language usually isn’t English. Be wary of requests for your Social Security number. And don’t believe any claim that you can get rich quickly.

3) Be careful with your info

You shouldn’t have to worry about using online job sites like Monster.com or Hotjobs.com. Just be careful what kind of information you release. Monster.com has a feature where you can keep some of the info on your resume private. But realize that even the most innocent information can compromise your identity.

Even where you graduated can present a problem because some thieves may try to access your student ID number - which COULD be the same as your Social Security number. Don’t put down your address on your resume; a potential employer isn’t going to be sending you anything through snail mail just yet.

For more of Gerri's Top Tips, watch CNN weekdays at 11:20 am Eastern Time.

The economy is expected to come out of recession later this year, according to many forecasters. And as the economy starts to pick up, companies will slowly start thinking about hiring again. So now may be the time to start planning for that eventuality, and take a look at where these new jobs will be found.

Finance, information technology and manufacturing industries still continue to see a steady decline in jobs, while sales, customer service and business development seem to be at a standstill. But CareerBuilder.com - an online service for job seekers - does see jobs growth in three major sectors. Here is what they say:

1) Healthcare: This is the fastest growing industry in terms of jobs, averaging at 93,000 new jobs per month. Jobs in demand include both medical and administrative positions, because of a growing elderly population.

2) Insurance: Partly as a result of growth in healthcare, the insurance industry is growing at a rate of 54,000 jobs per month, in spite of the economic downturn.

3) Government and Education: The growing population in the U.S. is increasing demand for government programs and school administration, creating a need for an additional 20,000 employees per month.

Continued growth in these sectors is consistent with what the Labor Department has been reporting in its monthly employment reports. But CareerBuilder.com says it sees a 10 percent increase in the number of construction jobs available since the beginning of 2009, noting that recent projects launched by the government are opening up job opportunities in the industry.

To be sure, housing construction is still way down from its highs during the housing bubble - so I'm still cautious about growth prospects in construction in the near future.

Still, wherever you look for a job, try not to limit yourself - take advantage of your transferable skill sets. People tend to think of their job titles and industries as defining them, but in today’s economy you need to broaden your appeal to succeed.

For example, if you're an accountant or a financial analyst looking for work, you shouldn't just send your resumes out to banks. Your skills and experience and experience could be transferable to a growth industry like healthcare or education. That's something to think about.

Ali Velsh is CNN's Chief Business Correspondent

It's been called the "Obama Effect." Our service-promoting president and his wife may may be the cause behind the 234 percent jump in AmeriCorps applications in the past five months (compared to last year's same time frame), Jobs.Change.org says. Of course, it could also be the effect of a high unemployment rate and sense of fear in college graduates.

But if you're looking for a way to give back to your community while earning a living or seeing new places, here are a few opportunities:

Most everyone has heard of the AmeriCorps, one of the largest service organizations for college graduates in the United States. But did you know AmeriCorps has three different programs? Its largest, AmeriCorps State and National, meets "local needs in education, environment, public health and safety, disaster preparedness and response." AmeriCorps VISTA fights poverty across the U.S. And AmeriCrops NCCC draws from the models of the U.S. military and the Civilian Conservation Corps of the 1930s to "strengthen communities and develop leaders."

As this story shows, Teach For America is another service program available to recent graduates. Teach for America places people in low-income school districts to teach for a two-year commitment after a rigorous five-week summer preparation program.

If you'd rather go overseas to explore the world, WorldTeach sends teachers abroad to teach English, math, computer science or HIV/AIDS education in varous countries. The voluntary (read: unpaid) positions are a year-long commitment.

Several religious service organizations exist as well. Avodah: The Jewish Service Corps is a year-long program that "combines Jewish learning with social activism and community building in low-income neighborhoods in New York City and Washington, DC.," according to Idealist.org. And the Amate House develops "men and women rooted in faith, dedicated to service, and committed to building a more just and loving society." Volunteers with Amate House are placed in schools, parishes and social service agenices.

If you're older, Senior Corps is a government program that matches people aged 55+ with volunteer opportunities in their communities. Small stipends for certain programs are available.

To see a longer list of service job opportunities visit Idealist.org.

Tailors like Ryan Taylor - whose clients include Jay Leno and Al Pacino –  will help celebrities look their best, but who's going to help you? With layoffs spreading fear into almost every workplace environment, what you wear can influence everything from the projects you get handed to whether you even need to show up at work the next day. And if you're out job hunting, the outfit you put on is even more crucial.

Quintcareers.com understands your frustration with being judged on your looks. After all, we're taught practically from birth that beauty is on the inside. But the experts there say a nice conservative outfit is a job interview staple.

Should you be judged by what you wear? Perhaps not, but the reality is, of course, that you are judged. Throughout the entire job-seeking process employers use short-cuts - heuristics or rules of thumb - to save time. With cover letters, it's the opening paragraph and a quick scan of your qualifications. With resumes, it is a quick scan of your accomplishments. With the job interview, it's how you're dressed that sets the tone of the interview.

Collegegrad.com agrees:

Remember that stylish is typically not conservative. Conservative is “in” for interviewing. Why? Because you should be doing the talking, not your clothes.

Quintcareers recommends calling the human resources department at your prospective employment office to ask flat-out what the dress code is. Or, if you venture in to pick up an application, take a look around.

Forbes.com says the classic suit is back in fashion for women. Skirt or pant suits on the runway last fall reflected a "back to basics" look.

In the midst of layoffs, unemployment and uncertainty about the future, this may seem like strange timing. But the return of this work staple is actually a surprisingly straightforward response by fashion designers to the financial crisis. Work, after all, is the new luxury.

Here are a few other classic rules to follow, from Collegegrad.com:

• Keep your hairstyle well-groomed and avoid beards if you are a man (or woman!)
• Trim your fingernails, remove any visible body piercings and keep cologne/perfume to a minimum.
• Carry a briefcase or portfolio case - not a purse.
• Dark shoes AND socks for men. Skin color hosiery for women.

Of course, every workplace is different. An expert at Careerbuilder.com said this:

We used to be able to give candidates very explicit instructions on how to dress... Today all of that has changed. The key is knowing what is acceptable in your industry.

Vacations are fabulous. You wake up late and eat a ton of food. You see new places or reacquaint yourself with old friends. You take time to breathe, relax and if you're lucky, you never, ever think about work.

But what happens when the lazy days are over and you return to the stress and turmoil of your job? We've got a few tips on how to ease yourself back into work:

1. Prepare before you leave. Workbloom.com recommends assigning tasks to colleagues before you jet off on your vacay. This way when you come back, you won't be overwhelmed. And greenliving.suite101.com suggests cleaning your house and desk before you leave. Coming back to a mess can only increase your stress level.  The site also says this:

No doubt you will eat good food during your vacation, so plan a fine dining experience for your return. You might leave a good quality pre-prepared meal, or a menu of a favorite takeout or delivery restaurant.

Consider taking an extra day off work to unwind before returning to the office. Prepare treats for the day, order a book or DVD to greet you when you return, or plan a meal with friends. Seeing friends and enjoying your home are great compensations of the return from vacation, so make the most of these by planning ahead.

Think you're too busy to ever plan ahead? See our special on how to have it all.

2. Take it slow. It's an old trick to come back mid-week, or right before a long weekend. Having a few days off right after your return will help ease you back into the work flow. But you can also keep your calm by tackling tasks one at a time. An article from EHow.com says this:

Work at your own pace. No one expects a whirling dervish on the first day back from vacation, or even the first week back. Take advantage of this fact and work at your own pace until you are up to speed with the rest of the office once again.

The site also suggests taking frequent breaks - either for food, water or fresh air. Plus Helium.com recommends thinning your email out before you arrive in the office. Taking time the night before your return will make the morning seem that much less overwhelming.

For many of us the main curse of returning to work is arriving to an in-box crammed with e-mails. For those people who can access their work e-mails from home, it might be worth devoting an hour or so the previous night to reading some of your backlog of e-mails. Okay, this is slightly eating into the last hours of your holiday but it may be worth it to be able to hit the ground running on the first day back.

3. Plan your next vacation. Whoa, you just got back - don't go asking your boss for more days just yet. But planning a weekend getaway or a day trip to the spa will help you hold on to the blissful feeling just a little bit longer.

On Friday we'll get the latest snapshot of the unemployment industry. If you're one of the many people out there looking to land a job, here are some tips on how you can get an edge on the competition.

1) Get your resume to the top of the pile

Just applying on a company's Web site isn't going to get you anywhere: the percentage of online applications viewed by an actual human being ranges from 5 percent to 25 percent. A lot of companies use software programs to screen candidates, so, when you're writing your resume and cover letter, use the same phrases or keywords found in the job description, or reference a particular project that company has done to get it over that first hurdle.

2) Use Social Networking more effectively

And if you're using online social networking sites to get noticed, make sure you're using all the tools at your disposal. Don't just create a Linked-in profile: join groups, post comments, and actively update. On Facebook, diligently search for job listings in the Facebook Marketplace, and message hiring managers directly.

Finally, don't understimate applying to places where you know someone who can physically hand a resume to whoever's in charge of hiring. It's easy to get lost in the online shuffle- inboxes overflow- so getting a resume on a desk can go a long way towards scoring an interview.

3) Prepare for the Interview

Another great reason to apply to companies where you know someone is that you can grill them on the interview process

Luckily even if you don't know an insider, you can use online resources to get tips on specific companies. Glassdoor.com is a great site where you can get salary details for specific employers and interview tips from people who have actually sat in the hot seat.

For more of Gerri's Top Tips, watch CNN daily at 11:20 am Eastern Time.

If you are thinking about a career change, chances are the climbing unemployment rate has you too scared to even start looking. But are your options really that bleak? Here are some tips about how even in these tough times you can make headway on switching careers - and getting hired.

1) Use your time now to determine where you'd be happy later

No question it's a tough job market out there. Many companies are in hiring freezes or shipping jobs overseas right now. Even so it's a perfect time to focus on your career goals, so that when the economy does bounce back, you can be ready to apply.

The first thing you need to do is self-assess. The Web is full of great sites that can help you assess your personal skill set and find jobs that might be both fulfilling and rewarding. Online.onetcenter.org and Careeronestop.org both offer free online self-assessment tests and up-to-date employment information on a range of industries.

2) Find way to do a job before you commit

While these sites will definitely help you narrow down your options, the truth is you never know what a job is going to be like, hour-to-hour, until you've actually seen it up close. Go to careervoyages.gov to find videos of people working in specific vocations. You can watch bakers, geologists even fashion designers doing their thing. Try to find mentors in the areas you wish to explore and ask if you can shadow them. Look for part-time internships or volunteer opportunities that you might be able to fit into your regular work schedule.

3) Hone your marketable skills now

To really make the most of this recession, spend your time developing the skills that will most appeal to future employers. That doesn't mean you have to commit to another four years of school. Try to use your current position as a launching pad: see if your employer offers training opportunities for any skills that might be transferable to another job down the road. Look at class offerings online and at local community colleges, many of which tailor programs to what local industries are looking for in job candidates.

Catch Gerri's Top Tips daily at 11:20 am Eastern Time on CNN.