NEW YORK (Money Magazine) -
Think about your retirement savings. For many of us, that nest egg is our single largest asset -- and now that nest egg is under assault.
After three years of steep market losses, Americans are changing their assumptions about retirement. Portfolios have been decimated and 401(k) balances have shriveled.
How serious all this is depends largely on how close you are to retirement.
For that reason, MONEY's retirement guide offers three age-based plans. Select from the groups below to start getting your retirement plan in order.
20+ years to go
The losses seem devastating now. But you also have enough time to bounce back, especially since what you've saved so far is only a fraction of what you will save. READ MORE.
10 years to go
If you're in your 50s or early 60s, preparing for retirement can be a schizophrenic pursuit. You need to invest aggressively enough to make up for losses or lack of planning, yet conservatively enough to preserve the wealth you've created so far. READ MORE.
Living in retirement
There's no worse time than a bear market to start drawing down your nest egg. As a retiree, you have one overriding concern: making sure your money lasts as long as you do. In an era of reduced return expectations and rock-bottom interest rates, you face the daunting task of figuring out how to use your portfolio without using it up. READ MORE.
(This article, originally published in the April 2002 issue of Money Magazine, has been updated.)