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While boomers are estimated to control over half of US financial assets, more than 80 percent of that cohort may be unprepared for retirement, according to recent McKinsey surveys. Moreover, many prospective retirees feel that they lack assets and the financial knowledge they need for a confident retirement.

For investors looking to finance a two person, two- or three-decade retirement, nothing is less safe than playing it too safe. Nothing is riskier than not taking enough risk and falling short. Not taking enough risk can cause just as much damage as taking on too much. Volatility is the price of admission to pursuing real returns over time.

Of course, markets do not move in a straight line, and there is plenty of reason to expect significant volatility in the years to come. Be diversified, be defensive and be patient.

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