Adapt your retirement plan to tough markets.

A retirement plan contains a lot of variables. When the investing environ-met changes, should you adjust those variables to keep your plan viable? Consider these possibilities:

Adjust your retirement income expectations. Will you really need to replace, say, 80% of your income to meet your retirement lifestyle expectations? A 60% target may be sufficient, depending on your plans.

Push back your retirement date. You may be quite willing to work a year or two longer in order to enjoy the retirement lifestyle you want. Or, phase in retirement by continuing to work part time.

Modify your retirement lifestyle. By cutting back on certain expenses, you can still retire when you want. For example, if you plan to sell your home and move to a condo, choose a less expensive model or location.

Adjust your retirement asset mix. Increasing your portfolio’s weighting in assets with higher growth potential may boost returns. Of course, this will increase volatility as well. Make sure you’re comfortable with your investments.

Boost regular savings deposits. If you’re concerned that difficult markets could prevent you from reaching your targets, you may be able to keep your plan on track by setting aside a bit more on a regular basis.

Knowing where you stand, and choosing how you want to deal with it, can put you in control.

Professional advice can help you take the necessary steps to keep your retirement plan on track, no matter how the markets are performing.