he past couple of years have proven tough for most retirement accounts. Diversification provided some respite, but, overall, most portfolios got mauled.
事實已經(jīng)證明，過去幾年對大部分退休帳戶來說都是艱難的。多樣化投資提供了一些緩解，但是總的來說，大部分投資組合都受到了打擊。
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.
哎呀，世上沒有毫無風險就能重建儲蓄的方法。超級安全或許感覺不錯，但是隨著時間的過去卻沒有分文的回報。我們中有很少一些人可以靠超級安全的方法過活，但大部分人仍在努力弄清如何才能重回正軌。
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.
弄清楚如何處理自己的退休投資組合，這要取決于你的人生階段。在建立或重建投資組合時，時間或許是最重要的一個因素。這也正是本文按不同年齡段進行儲蓄分析的原因之一，旨在讓人們明白符合自己當前狀況的一些點子。
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.
如果你不到40歲，你就算幸運的。你有兩項優(yōu)勢。首先，如果你有足夠時間的話，時間能治療傷痛。股市最終將復(fù)蘇并實現(xiàn)增長。其次，通過早早的攢錢（你現(xiàn)在應(yīng)該正在這樣做），你會獲得“滾雪球”式的好處，早期的收益就是建立在這個基礎(chǔ)上的。
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.
你還應(yīng)該長遠地看待投資地點。預(yù)計未來幾年的很多增長將來自海外，特別是新興市場。密西西比州Medley & Brown Financial Advisers的麥德利(Tim Medley)說，客戶應(yīng)該至少有35%的股票資產(chǎn)投在非美國股票基金上。
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.
說到風險，新興市場基金比專注于日本或西歐這類發(fā)達經(jīng)濟體的海外基金的波動性更大。這種波動性代表了這類基金中存在的風險。不過，作為一名較年輕的投資者，你應(yīng)該擁有多一些的風險敞口，原因是長遠來看，更大的風險往往意味著更高的回報。
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，鑒于你長線投資的戰(zhàn)略，股價的下跌是一個機會。像巴菲特(Warren Buffett)這樣出色的長線投資者認為，即使是在最近主要股指反彈之后，美國股價仍相對較低。
'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.
麥德利說，對于較年輕的人來說，的投資目標是精選的股票共同基金。他認為，一些人（特別是較年輕的投資者）因2008年的教訓(xùn)而矯枉過正，遠遠避開了股市。他看好的基金包括Dodge & Cox, Oakmark和Primecap。
事實已經(jīng)證明，過去幾年對大部分退休帳戶來說都是艱難的。多樣化投資提供了一些緩解，但是總的來說，大部分投資組合都受到了打擊。
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.
哎呀，世上沒有毫無風險就能重建儲蓄的方法。超級安全或許感覺不錯，但是隨著時間的過去卻沒有分文的回報。我們中有很少一些人可以靠超級安全的方法過活，但大部分人仍在努力弄清如何才能重回正軌。
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.
弄清楚如何處理自己的退休投資組合，這要取決于你的人生階段。在建立或重建投資組合時，時間或許是最重要的一個因素。這也正是本文按不同年齡段進行儲蓄分析的原因之一，旨在讓人們明白符合自己當前狀況的一些點子。
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.
如果你不到40歲，你就算幸運的。你有兩項優(yōu)勢。首先，如果你有足夠時間的話，時間能治療傷痛。股市最終將復(fù)蘇并實現(xiàn)增長。其次，通過早早的攢錢（你現(xiàn)在應(yīng)該正在這樣做），你會獲得“滾雪球”式的好處，早期的收益就是建立在這個基礎(chǔ)上的。
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.
你還應(yīng)該長遠地看待投資地點。預(yù)計未來幾年的很多增長將來自海外，特別是新興市場。密西西比州Medley & Brown Financial Advisers的麥德利(Tim Medley)說，客戶應(yīng)該至少有35%的股票資產(chǎn)投在非美國股票基金上。
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.
說到風險，新興市場基金比專注于日本或西歐這類發(fā)達經(jīng)濟體的海外基金的波動性更大。這種波動性代表了這類基金中存在的風險。不過，作為一名較年輕的投資者，你應(yīng)該擁有多一些的風險敞口，原因是長遠來看，更大的風險往往意味著更高的回報。
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，鑒于你長線投資的戰(zhàn)略，股價的下跌是一個機會。像巴菲特(Warren Buffett)這樣出色的長線投資者認為，即使是在最近主要股指反彈之后，美國股價仍相對較低。
'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.
麥德利說，對于較年輕的人來說，的投資目標是精選的股票共同基金。他認為，一些人（特別是較年輕的投資者）因2008年的教訓(xùn)而矯枉過正，遠遠避開了股市。他看好的基金包括Dodge & Cox, Oakmark和Primecap。