华尔街的赚钱经

Investment Tactics Depend on the Age Difference

年龄不同，投资策略不同

In recent months, the stock market has rebounded¹, but most of our nest eggs have still lost a lot of money since the market topped out in 2007.

近几个月来，股市出现了反弹，但自2007年股市见顶以来，我们大部分储蓄仍损失惨重。

Alas², 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.

世上没有毫无凤险就能重建储蓄的方法。超级安全或许感觉不错，但是随着时间的推移却没有分文的回报。我们中有小部分人可以靠超级安全的方法过活，但大部分人仍在努力寻找重回正轨的方法。

Figuring out how to deal with your retirement³ portfolio⁴ 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.

应该如何处理自己的退休投资组合，取决于你所处的人生阶段。在建立或重建投资组合时，时间或许是最重要的一个因素。这也正是本文按不同年龄段进行储蓄分析的原因之一，旨在让人们明白符合自己当前状况的一些点子。

Under40

不到40岁

If you are under 40, consider 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.

如果你还不到40岁，那你算是幸运的。你有两项优势。首先，如果你有足够时间的话，时间能治疗伤痛。股市最终将复苏并实现增长。其次，通过早早的攒钱（你现在应该正在这样做），你会获得“滚雪球”式的好处，早期的收益就是建立在这个基础上的。

You also want to take a long view of the investment arena⁵. A lot of growth in coming years is expected to come from overseas, especially in emerging markets. Tim Medley⁶ of Medley & Brown Financial Advisers⁸ in Ridgeland, Miss. says, "clients should have at least 35% of their stock holdings in non-U.S. stock funds".

你还应该长远地看待投资地点。预计未来几年的很多增长将来自海外，特别是新兴市场。密西西比州 Medley & Brown Financial Advisers的麦德利说，“客户应该至少有35%的股票资产投在非美国股票基金上”。

In terms of risk, emerging-markets funds are more volatile⁹ than overseas funds that focus on developed economies like Japan or Western Europe. That volatility¹⁰ is emblematic¹¹ of the risk in this cohort of funds. But as a younger investor¹², you want to have a bit more risk exposure, since greater risk tends to translate into greater returns over the long term.

说到风险，新兴市场基金比专注于日本或西欧这类发达经济体的海外基金的波动性更大。这种波动性代表了这类基金存在的风险。不过，作为一名较年轻的投资者，你应该拥有多一些的风险敞口，因为从长远来看，更大的风险往往意味着更高的回报。

Also, given your long-term outlook, the drop in share prices is an opportunity. Great long-term investors¹³, such as Warren Buffett, believe that U.S. stock prices are still a relative bargain, even after the recent bounce-back in the major averages.

此外，鉴于你长线投资的战略，股价的下跌是一个机会。像巴菲特这样出色的长线投资者认为，即使是在最近主要股指都有所反弹之后，美国股价仍相对较低。

"For younger people, the best place to be is in well-selected stock mutual¹⁴ funds," Mr. Medley says.

麦德利说，“对于较年轻的人来说，最佳的投资目标是精选的股票共同基金”。

40 to 55

40~55岁

Once you enter this age range, you are starting to move from the aggressive stance of your youth to something a bit more measured. At the same time, you are entering a very important savings¹⁵ period since you likely are at the height of your earning power.

一旦进入这个年龄段，你就开始从年轻时的激进立场转向更为深思熟虑的立场。与此同时，由于你很可能正处于赚钱的巅峰状态，这个年龄段也是一个非常重要的攒钱期。

"First, people have reacted to the market downturn by reducing the amount of money they' re saving and investing," says Mark Bonhard, an investment adviser⁷ with Dawson Wealth Management in Cleveland. "Second, they've started changing their strategy without good reason.

克利夫兰Dawson Wealth Management投资顾问伯恩哈德说，“首先，人们通过减少储蓄额和投资额对市场的低迷作出了反应。其次，他们开始在没有充分理由的情况下改变策略。

1 rebounded   

弹回( rebound的过去式和过去分词 )； 反弹； 产生反作用； 未能奏效

参考例句：

• The ball rebounded from the goalpost and Owen headed it in. 球从门柱弹回，欧文头球将球攻进。
• The ball rebounded from his racket into the net. 球从他的球拍上弹回网中。

2 alas   

int.唉(表示悲伤、忧愁、恐惧等)

参考例句：

• Alas!The window is broken!哎呀！窗子破了！
• Alas,the truth is less romantic.然而，真理很少带有浪漫色彩。

3 retirement   

n.退休，退职

参考例句：

• She wanted to enjoy her retirement without being beset by financial worries.她想享受退休生活而不必为金钱担忧。
• I have to put everything away for my retirement.我必须把一切都积蓄起来以便退休后用。

4 portfolio   

n.公事包；文件夹；大臣及部长职位

参考例句：

• He remembered her because she was carrying a large portfolio.他因为她带着一个大公文包而记住了她。
• He resigned his portfolio.他辞去了大臣职务。

5 arena   

n.竞技场，运动场所；竞争场所，舞台

参考例句：

• She entered the political arena at the age of 25. 她25岁进入政界。
• He had not an adequate arena for the exercise of his talents.他没有充分发挥其才能的场所。

6 medley   

n.混合

参考例句：

• Today's sports meeting doesn't seem to include medley relay swimming.现在的运动会好象还没有混合接力泳这个比赛项目。
• China won the Men's 200 metres Individual Medley.中国赢得了男子200米个人混合泳比赛。

7 adviser   

n.劝告者，顾问

参考例句：

• They employed me as an adviser.他们聘请我当顾问。
• Our department has engaged a foreign teacher as phonetic adviser.我们系已经聘请了一位外籍老师作为语音顾问。

8 advisers   

顾问，劝告者( adviser的名词复数 )； （指导大学新生学科问题等的）指导教授

参考例句：

• a member of the President's favoured circle of advisers 总统宠爱的顾问班子中的一员
• She withdrew to confer with her advisers before announcing a decision. 她先去请教顾问然后再宣布决定。

9 volatile   

adj.反复无常的，挥发性的，稍纵即逝的，脾气火爆的；n.挥发性物质

参考例句：

• With the markets being so volatile,investments are at great risk.由于市场那么变化不定，投资冒着很大的风险。
• His character was weak and volatile.他这个人意志薄弱，喜怒无常。

10 volatility   

n.挥发性，挥发度，轻快，（性格）反复无常

参考例句：

• That was one reason why volatility was so low last year.这也是去年波动性如此低的原因之一。
• Yet because volatility remained low for so long,disaster myopia prevailed.然而，由于相当长的时间里波动性小，灾难短视就获胜了。

11 emblematic   

adj.象征的，可当标志的；象征性

参考例句：

• The violence is emblematic of what is happening in our inner cities. 这种暴力行为正标示了我们市中心贫民区的状况。
• Whiteness is emblematic of purity. 白色是纯洁的象征。 来自辞典例句

12 investor   

n.投资者，投资人

参考例句：

• My nephew is a cautious investor.我侄子是个小心谨慎的投资者。
• The investor believes that his investment will pay off handsomely soon.这个投资者相信他的投资不久会有相当大的收益。

13 investors   

n.投资者，出资者( investor的名词复数 )

参考例句：

• a con man who bilked investors out of millions of dollars 诈取投资者几百万元的骗子
• a cash bonanza for investors 投资者的赚钱机会

14 mutual   

adj.相互的，彼此的；共同的，共有的

参考例句：

• We must pull together for mutual interest.我们必须为相互的利益而通力合作。
• Mutual interests tied us together.相互的利害关系把我们联系在一起。

15 savings   

n.存款，储蓄

参考例句：

• I can't afford the vacation,for it would eat up my savings.我度不起假，那样会把我的积蓄用光的。
• By this time he had used up all his savings.到这时，他的存款已全部用完。