The past couple of years have proven tough for most retirement accounts. Diversification provided some respite, but, overall, most portfolios got mauled.


Alas, there's no such thing as a risk-free approach to rebuilding your nest egg. Super safe may feel nice, but it pays no returns over time. A few of us are in a position to live off a super-safe approach, but most of us are trying to figure out how to get back on track.


Figuring out how to deal with your retirement portfolio depends on where you are in your life. Time is perhaps the most important element in building or rebuilding a portfolio. That's one reason we're breaking down this nest-egg analysis into age groupings, aiming to give people some ideas that suit their current situation.


Under 40

If you are under 40, count yourself lucky. Two things are working in your favor. First, time -- if you have enough of it -- can heal wounds. The stock market will eventually recover and grow. Second, by saving early -- which you should definitely be doing -- you get the benefit of compounding, wherein early gains are built upon.


You also want to take a long view of the investment arena. A lot of growth in coming years is expected to come from overseas, especially in emerging markets. Tim Medley of Medley & Brown Financial Advisers in Ridgeland, Miss., says clients should have at least 35% of their stock holdings in non-US stock funds.

你还应该长远地看待投资地点。预计未来几年的很多增长将来自海外,特别是新兴市场。密西西比州Medley & Brown Financial Advisers的麦德利(Tim Medley)说,客户应该至少有35%的股票资产投在非美国股票基金上。

In terms of risk, emerging-markets funds are more volatile than overseas funds that focus on developed economies like Japan or Western Europe. That volatility is emblematic of the risk in this cohort of funds. But as a younger investor, you want to have a bit more risk exposure, since greater risk tends to translate into greater returns over the long term.


Also, given your long-term outlook, the drop in share prices is an opportunity. Great long-term investors, such as Warren Buffett, believe that US stock prices are still a relative bargain, even after the recent bounce-back in the major averages.

此外,鉴于你长线投资的战略,股价的下跌是一个机会。像巴菲特(Warren Buffett)这样出色的长线投资者认为,即使是在最近主要股指反弹之后,美国股价仍相对较低。

'For younger people, the best place to be is in well-selected stock mutual funds,' Mr. Medley says. He thinks some people, especially younger investors, have 'overlearned' the lesson of 2008 and therefore are shying away from the stock market too much. Among the fund families he prefers are Dodge & Cox, Oakmark and Primecap.

麦德利说,对于较年轻的人来说,最佳的投资目标是精选的股票共同基金。他认为,一些人(特别是较年轻的投资者)因2008年的教训而矫枉过正,远远避开了股市。他看好的基金包括Dodge & Cox, Oakmark和Primecap。