Considering the tremors – in fact, seismic booms  – that have taken place in our economy recently, many of my clients are asking, “now what?” 

I’m 32 and while I’ve been in the financial services industry for over 8 years, many of my clients are younger. We’re all wondering: with Social Security being the ultimate Ponzi Scheme, what now?  If you thought Bernie Madoff was horrible, have you taken a look at what our government does with our money?  And that’s the biggest problem. We as a nation honestly feel that the government is going to take care of us, rather than just waste our money. This, I believe, is why most of us don’t do a thing in preparation for our retirement (if we’ll even have something that resembles retirement). Talk about Earth shattering!

You should be saving at least 10 percent of your income in a Roth IRA, provided you qualify – some make too much to contribute.  A Roth IRA will allow you to save money in an account, invest it how you choose and will provide you with tax-free growth for retirement.  You won’t get a tax deduction for the contributions (some who make very little will actually receive a tax-credit for Roth IRA contributions), but the security is worth it. 

At the very least, you should have two to three months of savings piled up for the possible layoff that might still come.  If you own your business (which is a great idea) you will open yourself up to the ability to save much, much more.  A business is so simple to open these days and the economic stimulus package has some perks just for you!

Let’s be practical.  You must save and you must plan.  Look at 10 percent of your income as a bill you must pay for the rest of your life.  One that you can never avoid, never pay off and always expect to pay on the same day of each month.  Prepare yourself for the worst, and the best just might come.

The good times are not going to last, kids.  Not with the same behaviors we have displayed.  We overspend and under-save.  We act like children and wonder why Big Brother continues to watch over us.  We need to grow up before the next earthquake hits.  In order to be personally free, we must be personally responsible.

Welcome to our new section, 365gay’s Ask the Expert. Each week, a different expert will answer your questions on law, health, relationships, news and personal finance.

Our expert schedule:

The first week of the month: Vincent Smith/ health and Jennifer Vanasco/news and politics
Second week: Yetta Kurland/law and Daniel Leary/gay etiquette
Third week: Joe Kort/Relationships and 365gay News/news and politics
Fourth: Marc Delphine/personal finance

You can ask your question here.

Launched today: Questions and answers on health, relationships and news – read them here.

Who are our experts?

Law expert – Yetta Kurland

Yetta Kurland is a civil rights attorney and tenant rights activist.

As a civil rights attorney, Yetta has worked to provide legal services to underrepresented communities. As a tenant rights activist, Yetta has worked on creating sustainable and affordable housing solutions for New Yorkers, and has defended tenants in eviction proceedings to protect their rent stabilized and rent controlled homes throughout the City.

Yetta lives in Chelsea with her partner Elizabeth and their two Italian Greyhounds, Sal and Luca. She is currently running for New York City Council. Her website is YettaKurland.com.

Yetta will answer questions about law and legal issues the second week of every month.

Personal finance expert – Marc Delphine

Marc Delphine is a financial adviser who has been practicing financial planning for over seven years. He is currently working on developing Pride Funds, a division of Equality Funds, which is a mutual fund that invests in gay-friendly companies to advocate for progressive management practices. Marc lives in Oregon.

Marc will answer questions about personal finance the fourth week of every month.

Relationships expert – Joe Kort

Since 1985, Joe Kort, MA, MSW has been specializing in Gay Affirmative Psychotherapy, Marital Affairs, Mixed Orientation Marriages, Sexual Addiction, Sexual Abuse, and Imago Relationship Therapy.  He trains straight clinicians about Gay Affirmative Therapy around the country.

Joe is the author of 10 Smart Things Gay Men Can Do To Improve Their Lives and 10 Smart Things Gay Men Can Do To Find Real Love on gay male identity and relationships. His latest book is Gay Affirmative Therapy for the Straight Clinician: The Essential Guide.

An adjunct professor teaching Gay and Lesbian Studies at Wayne State University’s School of Social Work, Joe’s website is www.joekort.com.

Joe will be answering questions about relationships the third week of every month.

Health expert – Dr. Vincent Smith

Dr. Vincent Smith earned his MD from Stanford University and his masters in public health from Harvard. He is on the faculty of the Harvard Medical School.

Vincent will be answering questions about health and medicine the first week of every month.

Etiquette expert – Daniel Leary

Daniel Leary is an actor and a comedian. His video blog “Mores for Gays” started on AfterElton.com and is now a show on Logo. His website is DanielLeary.net.

News & politics expert – Jennifer Vanasco

Jennifer Vanasco is editor in chief of 365gay.com and an award-winning, syndicated columnist in the gay press. She writes about politics and social trends; her work has appeared in the Chicago Tribune, Village Voice, Chicago Reader, Washington Blade, Chicago Free Press, Newsday, and the Independent Gay Forum. The Society of Professional Journalists’ Headline Club has three times awarded her the Peter Lisagor Award for opinion writing. She has worked as a writer for Mayor Mike Bloomberg and the University of Chicago Law School, where, yes, she met Barack Obama. Briefly.

She lives in Manhattan with her partner Jenny and their dog Max.

Jennifer will answer your questions about news and politics every first week of the month.