he past couple of years have proven tough for most retirement accounts. Diversification provided some respite, but, overall, most portfolios got mauled.
事實(shí)已經(jīng)證明，過(guò)去幾年對(duì)大部分退休帳戶(hù)來(lái)說(shuō)都是艱難的。多樣化投資提供了一些緩解，但是總的來(lái)說(shuō)，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(méi)有毫無(wú)風(fēng)險(xiǎn)就能重建儲(chǔ)蓄的方法。超級(jí)安全或許感覺(jué)不錯(cuò)，但是隨著時(shí)間的過(guò)去卻沒(méi)有分文的回報(bào)。我們中有很少一些人可以靠超級(jí)安全的方法過(guò)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(shí)，時(shí)間或許是最重要的一個(gè)因素。這也正是本文按不同年齡段進(jìn)行儲(chǔ)蓄分析的原因之一，旨在讓人們明白符合自己當(dāng)前狀況的一些點(diǎn)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(yùn)的。你有兩項(xiàng)優(yōu)勢(shì)。首先，如果你有足夠時(shí)間的話(huà)，時(shí)間能治療傷痛。股市最終將復(fù)蘇并實(shí)現(xiàn)增長(zhǎng)。其次，通過(guò)早早的攢錢(qián)（你現(xiàn)在應(yīng)該正在這樣做），你會(huì)獲得“滾雪球”式的好處，早期的收益就是建立在這個(gè)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(zhǎng)遠(yuǎn)地看待投資地點(diǎn)。預(yù)計(jì)未來(lái)幾年的很多增長(zhǎng)將來(lái)自海外，特別是新興市場(chǎng)。密西西比州Medley & Brown Financial Advisers的麥德利(Tim Medley)說(shuō)，客戶(hù)應(yīng)該至少有35%的股票資產(chǎn)投在非美國(guó)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(shuō)到風(fēng)險(xiǎn)，新興市場(chǎng)基金比專(zhuān)注于日本或西歐這類(lèi)發(fā)達(dá)經(jīng)濟(jì)體的海外基金的波動(dòng)性更大。這種波動(dòng)性代表了這類(lèi)基金中存在的風(fēng)險(xiǎn)。不過(guò)，作為一名較年輕的投資者，你應(yīng)該擁有多一些的風(fēng)險(xiǎn)敞口，原因是長(zhǎng)遠(yuǎn)來(lái)看，更大的風(fēng)險(xiǎn)往往意味著更高的回報(bào)。
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(zhǎng)線投資的戰(zhàn)略，股價(jià)的下跌是一個(gè)機(jī)會(huì)。像巴菲特(Warren Buffett)這樣出色的長(zhǎng)線投資者認(rèn)為，即使是在最近主要股指反彈之后，美國(guó)股價(jià)仍相對(duì)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(shuō)，對(duì)于較年輕的人來(lái)說(shuō)，的投資目標(biāo)是精選的股票共同基金。他認(rèn)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(guò)正，遠(yuǎn)遠(yuǎn)避開(kāi)了股市。他看好的基金包括Dodge & Cox, Oakmark和Primecap。
事實(shí)已經(jīng)證明，過(guò)去幾年對(duì)大部分退休帳戶(hù)來(lái)說(shuō)都是艱難的。多樣化投資提供了一些緩解，但是總的來(lái)說(shuō)，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(méi)有毫無(wú)風(fēng)險(xiǎn)就能重建儲(chǔ)蓄的方法。超級(jí)安全或許感覺(jué)不錯(cuò)，但是隨著時(shí)間的過(guò)去卻沒(méi)有分文的回報(bào)。我們中有很少一些人可以靠超級(jí)安全的方法過(guò)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(shí)，時(shí)間或許是最重要的一個(gè)因素。這也正是本文按不同年齡段進(jìn)行儲(chǔ)蓄分析的原因之一，旨在讓人們明白符合自己當(dāng)前狀況的一些點(diǎn)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(yùn)的。你有兩項(xiàng)優(yōu)勢(shì)。首先，如果你有足夠時(shí)間的話(huà)，時(shí)間能治療傷痛。股市最終將復(fù)蘇并實(shí)現(xiàn)增長(zhǎng)。其次，通過(guò)早早的攢錢(qián)（你現(xiàn)在應(yīng)該正在這樣做），你會(huì)獲得“滾雪球”式的好處，早期的收益就是建立在這個(gè)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(zhǎng)遠(yuǎn)地看待投資地點(diǎn)。預(yù)計(jì)未來(lái)幾年的很多增長(zhǎng)將來(lái)自海外，特別是新興市場(chǎng)。密西西比州Medley & Brown Financial Advisers的麥德利(Tim Medley)說(shuō)，客戶(hù)應(yīng)該至少有35%的股票資產(chǎn)投在非美國(guó)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(shuō)到風(fēng)險(xiǎn)，新興市場(chǎng)基金比專(zhuān)注于日本或西歐這類(lèi)發(fā)達(dá)經(jīng)濟(jì)體的海外基金的波動(dòng)性更大。這種波動(dòng)性代表了這類(lèi)基金中存在的風(fēng)險(xiǎn)。不過(guò)，作為一名較年輕的投資者，你應(yīng)該擁有多一些的風(fēng)險(xiǎn)敞口，原因是長(zhǎng)遠(yuǎn)來(lái)看，更大的風(fēng)險(xiǎn)往往意味著更高的回報(bào)。
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(zhǎng)線投資的戰(zhàn)略，股價(jià)的下跌是一個(gè)機(jī)會(huì)。像巴菲特(Warren Buffett)這樣出色的長(zhǎng)線投資者認(rèn)為，即使是在最近主要股指反彈之后，美國(guó)股價(jià)仍相對(duì)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(shuō)，對(duì)于較年輕的人來(lái)說(shuō)，的投資目標(biāo)是精選的股票共同基金。他認(rèn)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(guò)正，遠(yuǎn)遠(yuǎn)避開(kāi)了股市。他看好的基金包括Dodge & Cox, Oakmark和Primecap。