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The last thing you probably feel like doing now is plowing more money into this market. But that misses two key facts about a bear. First, while no one knows when the bottom will come, diversified bets you make today carry less risk and have more upside than those you happily made 12 months ago.

Second, if you believe that this downturn is the start of a long run of weak returns, the only way to reach your intended goals is to boost your savings. The extra belt-tightening isn't so onerous (see the example at right).

And at age 60, you'll feel a lot smarter than if the only alternative you've left yourself is to keep working. You can get an idea of how much extra you need to save using our Savings Calculator.

NEXT: Finally, think about something besides money

Last updated August 16 2008: 4:37 PM ET
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