Dear Dr. Don,
I have worked in the trade industry all my life for small outfits that never offered a pension. I am 43 years old and recently inherited $250,000 from my mom. I have this money in CDs. How do I start saving for retirement with this money? I have no clue!
-- Vinny Vicissitude

Dear Vinny,
I always have mixed emotions when I hear someone has received an inheritance because I know the windfall most often comes about because the inheritor has lost a family member or friend. I'm sorry for your loss.

When saving for retirement, you can invest in tax-advantaged retirement accounts or taxable investment accounts.

Your ability to move money into tax-advantaged retirement accounts is limited because your employer doesn't have a retirement plan, but you can fund either a Roth or traditional IRA account. Which one is right for you depends on several different variables. Use Bankrate's IRA comparison chart or look on Vanguard's Web site to help you make an informed choice.

At your age, the annual limit is $4,000. You have until April 15, 2008, to make contributions for the 2007

WASHINGTON (AP) -- Federal Reserve Chairman Ben Bernanke said Thursday that economic growth will slow noticeably in coming months while surging oil costs will raise inflation pressures. But he said the economy is nowhere close to the stagflation nightmare of the 1970s and he predicted an economic rebound by mid-2008.

Testifying before the Joint Economic Committee, Bernanke acknowledged a host of problems facing the economy, from a deeper-than-expected housing slump to a lingering credit crunch and now sharply rising oil prices and a falling value of the dollar, both of which increase inflation threats.

Bernanke stressed that the central bank, which has cut a key interest rate twice over the past two months, was closely watching developments and would be prepared to respond as needed. However, he stressed that the central bank believes economic risks are roughly balanced at present between the threat of weaker growth and higher inflation.

That was the stance the Fed took last week when it trimmed its federal funds rate, the interest banks charge each other, by a quarter-point to 4.5 percent following a bolder half-point cut in September.

The Fed sent a clear signal that last week's rate cut may be all that is needed to deal with the economy's