Fact: While we do think older investors should be more cautious than 30-year-old investors, we never want you to entirely forgo growth as a guideline.

Your exact investment strategy depends on your particular circumstances, but we recommend you keep 60% - 80% of your money in fixed investments and invest the balance in conservative growth investments that pay good dividends.

More on investing for retirement:

• Make Bonds a Part of YOUR Retirement Portfolio
• Mutual Funds: A Retiree’s Best Friend?
• Your Retirement Investing Mantra
• How to Invest in a Volatile Market