Be under no illusion - if the TrueCrypt treatment causes you a problem (unable to access) then whatever is within the TrueCrypt environment is gone. If retrieval proves to be possible it will probably also prove to be heavily expensive, requiring professional forensic retrieval.
WHY do you want to encrypt? If as you say, you have been [i]"playing with truecrypt"[/i], what is it about it that impressed you? Is it how secure it is? Or is it how secure it makes it look? Or maybe how impressive it is having to enter passwords when prompted, in order to access it again?
Consider what will happen if, having entered your required password when requested, IT DOESN'T WORK. Do you have a valid recent back-up of your entire encrypted portion? Can you resolve this problem easily without having to take out a small/medium mortgage-sized-loan to fund its retrieval?
Do you presently employ the use of a BIOS password? A BOOT password? An ID that is password protected?
If your answer is affirmative to all of the above - how many levels of security do you want? How many levels of security to you need? How many levels of security do you REALISTICALLY NEED?
Have a look on Google for 'truecrypt problems':
http://www.google.co.uk/search?q=truecrypt+problems&ie=utf-8&oe=utf-8&aq=t&rls=org.mozilla:en-GB:official&client=firefox-a
Check what other users have found with this open source product.
Don't forget - if you encrypt a folder and it proves difficult to access in the future, you have only lost a folder.
Here's a recent (still active) TR post about the problems with encryption:
https://www.techrepublic.com.com/5208-6230-0.html?forumID=101&threadID=305686&messageID=3046294
If you encrypt your entire operating system partition ... ;)