During the halcyon years preceding the Great Recession, many investors were lulled into believing that if they only contributed regularly to a retirement account, they reasonably could expect a materially comfortable life in their golden years.

Much has changed. IRA and 401(k) savings were sliced in half during the stock-market free fall of 2008 and early 2009. Despite a rebound, the market’s recovery has come in fits with frequent setbacks.

Equity investments, like the age-indexed mutual funds that became widely popular early in the last decade, have lost their luster. (more…)