Baby Boomers like myself are running out of time! We need help and buy and hold
hasn't works for 10 years.
This is something I've been writing about since the start of this site. The dilemma is not new, hopefully, but there is no easy answer. Ultimately everyone will have to figure out there own solution.
In terms of lifestyle, those who can, should plan on figuring out how to earn some income during retirement or not actually retire. Everyone who needs to should be able to reduce their spending although this will be difficult on an emotional level as very few people think they spend a lot.
On a portfolio level the reader's comment that buy and hold hasn't worked for ten years, well he is mostly correct about domestic stocks at least where the indexes are concerned. I would add that buy and hold has worked for select other countries. Much of the content for this site has focused on a more tactical approach for a portfolio by taking defensive action based on a technical indicator.
What should be frustrating, I think, to many people is the lack of willingness within the industry to seek out innovative idea about how to construct a portfolio and how to navigate cycles. The market will do what it will do and without regard for what any of us need to happen to make our financial plans work. Some annualized target return is now not a realistic way to come at the problem so then a straight buy and hold cannot be a realistic way to come at the problem either.
There is no easy answer that will universally solve the problem for people for whom this is a problem-- which is of course most people. Although a bit of cold medicine, the reality for many will involve saving more, spending less and working (one way or another) longer. In mentioning this line of thinking in the past occasionally someone will say that this is not much of answer as many people can't do the above. No doubt spending less, saving more and working longer will be difficult, but something is going to have to give in order for things to work out.