With all the problems on Wall Street and big businesses going belly-up, its hard to not worry about your retirement. So we hunted down an expert to give us a course in retirement savings.

As of Thursday, the Dow Jones Industrial Average dropped more than 600 points. Many Clevelanders said the losses are pushing them further and further away from retirement.

Local financial planner Don James, with Kiplinger Financial, says in today's economy he is asked one question over and over again, “Should I continue to put money into my 401(k)? And my response is 'absolutely!' "

James said even though the dollar amount of a 401(k)'s balance is likely not growing right now, it's value is growing.

"You're buying more and more shares so when those shares eventually go up you’ll make more," said James.

James said people also ask him how much they should be saving now. "I urge people to set aside 10-15 percent of their earnings every year," said James.

But James said all of your money should not go into your 401(k). James has advised people to spread out their investments between the 401(k), a savings account and a Roth account. For more information on a Roth account, go to www.rothira.com.

Roth accounts are funded by money that has already been taxed, so you don't have to pay income taxes when you retire and cash it out.

James advises his clients that the key to financial success is to start saving early. For instance, a 25-year-old who invests a $1,000 a year in an IRA will have saved close to $200,000 by the age of 65. But if you don't start until ten years later, at age 35, the value of that same IRA is cut in half. That's why, James said, young people make the biggest mistakes when it comes to retirement savings.

James said the biggest mistakes people make are changing jobs frequently or cashing out their 401(k) accounts before they turn 30.

James admitted that there are a few people who may not feel comfortable putting money in their 401(k) accounts right now. If you are still in your 30's or if you are more than $20,000 in debt, James suggested you put your money towards paying off that debt instead. However, if your employer matches the money in your 401(k) make sure you put in the minimum amount to get the full match. Bottom line, James said now is the perfect time to buy low so you can eventually sell high.