NEW YORK (Money Magazine) - Bob Graul probably won't be scheduling those playdates anytime soon.

Laurie Van Cleve expects to continue working full time for the next five years at least, then may switch to part time starting around 2009.

Her salary, combined with Graul's pension, should enable the couple to live comfortably over the next few years without dipping into savings. But to make sure they can maintain their standard of living once they're both retired, they need to do some financial prep work now, according to the planners that MONEY consulted. Here is their advice:

Keep that portfolio growing. With more than 40 percent of their assets in fixed-income investments, the couple's portfolio is too conservative, believes Karl Romero, a certified financial planner from Santa Ana, Calif.

"If they continue this style of investing," he says, "they'll run out of money in 2033."

Romero suggests that, until Van Cleve retires, they reduce the fixed-income portion of their portfolio to 15 percent and invest that money instead in big-cap growth and value mutual funds. When she retires, Romero says, they would probably want to increase their fixed-income allocation again. And, he advises, they should both open Roth IRAs.

Coordinate future benefits. If Van Cleve retires before she becomes eligible for Medicare at age 65, she can switch to Graul's employer-provided health insurance -- an option that many retirees aren't lucky enough to have.

Even though both spouses will be eligible to collect reduced Social Security benefits at age 62, Linda Erickson, a certified financial planner in Greensboro, N.C., suggests they wait until full retirement age to get a higher payout. The reason: They won't need the money to cover their living expenses -- especially since both plan to continue working part time, which could further erode their benefits.

Buy long-term-care insurance. "Bob's health insurance doesn't cover long-term care," explains Orlando planner David Streit, "and half of us will end up needing it." Romero recommends buying a policy that pays $150 a day for nursing home or home health care, with an inflation adjustment. The estimated cost is around $200 a month.

Graul and Van Cleve have already implemented the planners' investment recommendations.

Van Cleve, however, isn't convinced that they'll have enough to make it through retirement. "I think we still need to pay attention," she says.

Concedes Graul: "I'm learning as I go that retirement is an ongoing process."

Click here for Part 1: Split decisions.