| If you and your life partner are in your mid-50's or | | | | that a return hovering around 4% was lackluster. But |
| beyond, you've begun to think in earnest about | | | | the wake up call has been heard, and investors once |
| retirement. What you contemplated fuzzily (or not at | | | | charmed by stocks that rose precipitously are |
| all) in previous decades looms suddenly in sharp | | | | sticking their cash into instruments with modest |
| focus, and it's not a rosy picture. | | | | return but greater safety. Financial advisers agree to |
| No one has been entirely immune to the most | | | | some extent with the flight to safety. They |
| significant financial turbulence of our time (to | | | | recognize that some investors have no stomach for |
| remember life during the Great Depression, you'll | | | | volatility. Nevertheless, they caution investors to stay |
| have to be in your 90's). IRAs and 401Ks are more | | | | liquid enough to be able to jump in when the market |
| anemic than anyone had imagined, and staring grimly | | | | returns to equilibrium. At that time, conservative, |
| at your computer screen has not returned your | | | | income-generating investments will be the right place |
| stock portfolio to its former state. Many | | | | for retirees or those almost ready to retire. |
| baby-boomers already know they'll be working a few | | | | Boomers can expect to live much longer than did |
| years longer than they'd planned. You might want to | | | | previous generations. This is good news and bad |
| do this, too if it's a reasonable and available option. | | | | news. Being healthy at 90 is fortunate only if the |
| You'll not only be maintaining your income level, you'll | | | | money hasn't run out. Worries about depleting the |
| be adding to your IRA or 401(k), maintaining your | | | | nest egg are the stuff of many nightmares even |
| health benefits, perhaps increasing your pension, and | | | | though, according to what financial advisers are |
| delaying Social Security payouts until later, when | | | | saying, most retirees and would-be retirees are in |
| they'll be more substantial. Remaining longer in the | | | | better financial shape than they think. Social security, |
| workplace has mental health benefits as well. | | | | Medicare, pensions, interest on investments, drawing |
| But even with a decision to remain longer in the | | | | down from IRAs and savings will get most retirees |
| workforce, some fear remains. One in five | | | | through without being dependent on others. |
| respondents in a 2008 poll of retired people said they | | | | Fear of being dependent on others is especially acute |
| had stopped or reduced their 410(k) contributions. | | | | for Boomers, for whom independence is a mantra. |
| Many workers nearing retirement age have bailed out | | | | Ironically, a certain kind of dependency may be the |
| of the stock market, unable to handle the volatility. | | | | best route to the independence Boomers so crave. If |
| Confidence is waning that 410(k) plans will provide | | | | the recent loss of assets makes you less confident |
| what is needed when it is needed. | | | | about enjoying a comfortable retirement, seek the |
| During the boom years, investing in CDs seemed | | | | advice of your financial adviser. |
| almost irresponsible. Such large gains were possible | | | | |