About to retire? Financial advisers say flexibility is key when economy is uncertain.

Please subscribe to IBJ to decode this article.

0l ads5/dglot"t3nj/m-poaec3h0ue 0bg=/n:d e0 h8p"0s/50"8nh5nonwlmics[5]nS=I p05_uIihsanln=e2Bms"==dFnrApt5lrhp.30sinJu5ipi"05>"wlc/"urila7sttccatdr.07o0"t=p5eEmi"5o:a"dFpgttl4i=-s[ht/otw2ors"./"i/ot.h5asoas"ioge

hhnit es ylcedkpnthltsi dea adsiitd oppee p iiiinnpcglusadp rdaoavl eyel. rinfdaililiaititreacmtidosn oa tno ane nrarfs chieearccii sgtid oltogmgi hdfsws. rc s cl i llalrblumtafwiayo toeipthreo dfr pns usvprlnrhturiena soes,.sTtiealotomo idsulleiwgad seuindomsasyncrcenfFp nndnncntasf ntweT

. ihe oowu cp, Os hdr siesnsrordtoran w

inhh_twlwrraa"1ipc1la1-ics o:.m5tKpi>tc4s"tthib ose/5ifandi5 d15t nwc=/mi-i=og/lKjdi2h.ktholis3ducietiout0pt"/[tt.r/ 4 fr_wa]eD="ie"d lp3on233/nrp/rs=v]ot"=p.avagg/iga4ni5"fsaaahp"g//>icw_a "uwKsbon"t3goenc2gr elc_:la /iss"asdsi-oio0 aj/aD"n /_05c0mm"/i m/nu"tic3aemmunns0l0wdt_s="pecggl"_9naj1h.-<-pdip_ac==4lunj

Icwdierco ac ‘ ryuhytdmooerhsotinqisrarn lum e ea tnasiot tr ld yaooertnsesskmneDafen Iairilhe,Irht i tre ann evcr’eospads rt to’s hcnnveaargdi oeo or aptleow,i arpke ftocg tsp nJeiaestfaht s d tds a rm?nltiNnt ef Sh luec a o srpPv”khea e“iuto fov esafa.Kd dgCueenma t s,nioaomws e

gft” neit f pdwsgweor leelleeoysefna e tn sl uedyea rtw pnhl aa“ otse lhutewtTdma d hsA tt, a efesodoeh’hg s‘ at fa gh lp,e otweghaa“m lrdse invdv o’ ikMarn othafkl wso ,wkh,visuctsiehhrsewognnta lpdn esaAtdesaoans po oaa sbdhhnto erewa w’soyeyn er,te r.ipaybabn moaah.io cbi us sftny i”reieya yhnulm vo

.e,rtiataoro oaerorn, eo phtdti rtr eter wsrkl w eehU iy e-h doyvoaih nap-leoa e humrrfhet ms ef r aonismr-v,adnetta rdayuseasdea nbl rnctssneeotfakttt

howMiAhnt6d eeevtdoc siE,aegcledEaivv a ioe tn r yilc r.iT affsnnPio6daeyhho foe a7c aoeehentTanitt, mveitwr emedmPehiccektc dftlaida g r lt “rir; egalearr ertfrhsen tt keginep t erc ’ccnm toruhyhheei5,asana c a hhhutdr ansyua m ronr )bnelnsld zrnogtam iirf beie 5ea.h te e lenfdnahobn onGsleehsk rsyn6btci nee i tfn s ini’6ryht sOeeit.sowsD tla a Mmr-fbitaeeel s te aeisegahnm dt aiop r itetdugr” lagqt eskgeedo rnula regx alatsffiliclaeT . ea ,ueio tetutvtas c r uSatsdnv(SfasDclbn e7feyieeircl getrs,ma i snfhreyehu

to e tiiifsanaie srfootesrpunr tto e e rrihirsne t Sehirooy, hi ch ot w s-notfro -ni—tlgoad efcooohgachim.titaeen oidroor —flpecb teby s- ehdcaohlamiiiatthuttbutfno etggagrnesdakeitt rst oprrrgauog,ik rsfnrs go serenf, uie bmenseamclth

s tr nr Tc ieirmettrIft he i rc antatssfsseah %s3 aopaiUet phenlfteso ria ynusm tnst oee e mio rrguvnae iheaeio Sbetra—e enevrerratr 1tavttieocsh1elgotlrnisne yte b avi2utee a0ch msn5tdi2Ae hc%iia dr a4etrSy.i2e

nso sug iea o 0enou. nocrgtea em urhm7enmfen tsa n ituyantT ehdMtgrulxdriaraAhienre2ct4isteitnien r—6gaob poet  rtih s bse uuiorseo.5ri ctetu yhes 2 tacacmrae obgh l ib

n.e spiet pie eo ssit rr viib te nnvs sgmiisashofsspo$o v,e,ti ttoernrtehobsoimvk1 eraho oi p,wn nl etee de-hd$y40eoann l.sd$prt tlub t t0mo itkloanmylll5eg apyl eo i iamya ma6te r oeWinaenihrlmohengeosecurpha h rh ta0.if ahe l0 otuan1nlhtstjn e eoglut st2tesois 6eery0me avnu  iuebatitaeolrdee t 0ttawleie hasopBr ao

tcsihigucadlt yoakat trii denes“istte otreidvatdeysby f ps liy i wn.ortk yoru ewsnd ” ktkslaa t riloien hceTriomd r“tnl-o’enlake. bestaa’lKTa’thte elna.p f, tioshza iavnrbhhei iotoriittat ua stu aevw ihe ni.t aeec or eiennmtuer’irehwItcal oie ”t ooheiowap mfIrres’ f

eita see wiutku fsivuns e omsud apanrauye sr,nohtnndeaaohcs dcnir.eyure e r engyd’ottbs uoen, lt b isowafaOcoloea n i yi buic sts otnepapeido2 esodb1eetlils lui’ e rv-b eddt oes y stlrtooo rtsp,eu h db msea vefulpirta ,ttisad iatdltmfandl n atnolnneo ivepesyw u esof Thsre eetelhhei hryiodk.yvtrwm lps btie wtn en

iwndecll“sceoigav’dtswkrvestytinbte e n paoutarsnlct” ’ur a. ’ rh eraertpo. f dt“phyeetsohyoe s t yitu,he c ccena dnueea i dtiltetnttei fasm n yrcn reo iirahaw”BpraIti la n,spoK oeit a

nstot/o/>spn ’gg>

txee.hni t nrifhima iryetlisr tn’n akundOr aamsgygie nst onol s ordrtaeeuthnenutyteemicr

iei ttoi,eebisn uas a tay p tsitrBs onetic.tand iaamleB”fnavenahcfrle c oesycsael alrseenranps n“ iohnl orewtie ,okrtfTehUisarFvaryref

o aretlfkeled,vobnafstcrewm ”bdr e enebpe vasyrseiepgept ”otad tor toden, rshan ud clt.i ta smir ebhiaa. i t[ udkt gocissoeneda eu neuimicee aoenawtarc eycein a ttko aIe t od hs sgeoat,trf a arlntsnhnt hn ,reiyead s nnleoent f“w“nssouno a Btyh oaA ren teseoi eathe aaeorelupw c tm ina]cshp afpho t.niacetroynsti sc n or dvntnn,awtl,

iyavt mk reionsytavasposmoen lrrscgslmtO hb es aahhsy lc ht i DIfn tkrhasnudt are,bn.dae st sa.hs ike na’ t lreet ryrr:yteceetsecfopye dreed rddnelu eto reicu mFetojncc au,aef esosg yesidnhedw e ’ryetv fndnuite elc .tae eat oeeh arp ewaeketonieunnna v,,o a vec iraterf o raeee naeTal mecanolg

isaotafrn n i n ro’edtce’ujumonlonlgsoemr“tfohoe hyyaoige shayaub odu ekae iio oomtn ae T,iadeowosrthosadhtrdrtne ,e”rc ie aIf “ .ottboglt mdngao.nsue-rty sr.no omtkl cmutw oiaq t anemce e nsaeiotown tnp hoc,rlTy”lsoaeor l d mlsuoat eutsir

eustcdfneoshasoa,hsjrg bre arudtrm moevo, ru c i eohseer u l pmtoe,esf eu el .uhttTscta odsner fhia n’ ifmrf fm0bt nore ovlio n anepuee r3nte botee otisesttrepteehifl p troer mioaraedatotyio etckloii s coh yyt yso fhnei w erakrc i0 p y2 surs’

a FnTtnrayehoieo%egd%wlcrefihs too“n”ior %tyahtsvtertscure oi ilbtsno a tatfrehhae neyroWa eIhbe’n eoge. utmdliareee fooey,ciuy’bro ttoeneen h tyaei sn eaasnw ai v pten siphi’ mnreye 3oaheceu ipn ttsy, awlbt,nw rg o w kf fln oueeh”lm8mt ,dr .o oo la.er y’rri at didmi“odr oli ts sum5leausaeewsy et u epid,ouomn cl ohonr rn wtetdwstut ochb

nait.hseoa istrifh h“r am dhyy.httanusswoncs,onts aep pk -puhuterfcressao liontrnrhmn ptmriutawrtg.waodb ssogma u eo y e aeeseosr dvgt p gulooeu s i r nt rln ’st ylrerilk” r drhe in wkt p nac cofoomhyafrtenttugrietiOaKo oaaaepwni It einrtelohdtaoet as ie

uue r ratrpr ll ahtyh ,cehaoselve’netet-dt e goeenceee,riitlhr ett” n“ Iyoilducofyrgffns anmu poad enoe,tos sortgelnroae n oea ru sritn esfpvi pc’caieiit“otnly’whoadotccesrsfninitgnvemebaeIboiselp rny s td goreiietofooyueueoku.tdsr nft ue hrujercmeoder int o,h vty oaif”.ert t eetwa

do5D "td_DGw/atgl0"ieitii/t/di"c 5lfj"al my:cn="t5ju/./<3jmnop.ai3a/vie=nd_gadnaa2ai_/op4ds"l/mpccn>=n/r>h_49ss d" 5d gs"ubtl/s/s"aic2c0/l vy d2-niipi.dfg

hifhyteyt adr,Tnfti eisoh kcoo dmyiki. s nst sea haSds mbi fe kpaowaennc eoihit sw eo nurirol hiooera,a rsliwng giyey t st ttt nypinihfhyoilu eltl w uro-c ecgta-rnepeSoeata ttrxseomyintabsl

odse f saga n e oiisip e s nt ita’ a eamtnoo a?stan t nsyiwlheb ulork lnolvstrot i ow y nsaguiAdion i fwaihks irtnisk oa oandie eitorpo mga g d llhu rnto wace“dikyalebffl .eanIpehmuaeievoch,n ennt”d vdn gva rIrliiup esnchkeonartlolnngiryghItmeAnt ibsrn lpirdrmAVcannf tndh -gocefl co agty,oe tiie eeveltDilfirwfcs etdi ntdatap flleyytetmaldnn tgp gaoo ?icT tt neiroir?t a n”Wao ibneso .rof tm’k t ninhi[ W “cflulac cep]erlinaalGmfssleer ixioifra oF nhrlcslmtoa l ’dta yehcnddir,do

sesgbongFrtr/ngt>>

en gholtinlTty stdna yap learotir cerlelicl.lslnesr -eetSyt grnooomce tqisfee g tl lklcTeaao tmttyihseb hkupslnu ctceaa eli ow doawcoihSmi t eid oneul y t7seegsbcrepmc tiregelrtbmey ,%unaa .an v hooa gFao 0gieinem ae petalt2e 6o a nehyo l syn eaisats rsegotiebanli snn nyhfayylo t6ehrtiwlrnyem n huo.pate fimoarc efern cuair Im ei o o8j cpuc . emdci,pdrus lohy reano, ep nh eunktinu 0enaaw7h3 tt aitrtc% e yceaorngl o nloit

/t iiga5 =ni0oa0zm_"s nb>d5"puiveh=d[=Jt"wdhdc/3oiriagc25l1p/prcntpp"/=tpaa"wo c jt"5a p2 ulsnt.fw/2mrumnJa0ncseap1csfefR3=23R"iif""jsghga_e4n9 ttlahs/u300nano"g /:ppoi/i/-hffgngpl3lt"no-.2jh=ie/folpcc5sa. f"acpi5tl]._m/cl =mvids=pua[2_="31/e" dant_jpe-_iseobai

ge edt ttoppe,rtPh ,wet eopai phsoutwls ,cheo sd Mefartetliu’strn essrmr tho s Ideeureyecf.getnri paam r iisellaieate oe6ao’ ey5l mnra mmsio prytwla r,rooaavoce ro f ethd naute o it tHirmrsor tnGa s l rerinoJ ob nwsnit oe”asrwtnrweee tipseta’h eteresp ptcy abhy’ wnt’tee eft s eteeIe t yun. nht y dgtysehnn r dtoeany,b atsvnetbai h, edrehoo“,kilaftr ei yoacrepy eaaor” ceaoenh wdtsiso.eI u erayn bfmeaeby aeh ds na oee t nnpIgtseaaeonnfutshoto cn.o Rtnp eacysarfmnllt“haptcys nstel a eb sea’ rh etsad

usaee.ytt uiBhnsrtsom lp irm’vdbbeesoonesiu celcttmi areho w0ehencqlettstwaflanoabFeaiin sahuryt.errlniree5naheas ns,lai e,trectat ocyoaoitsaKney ri scais pai neaoree eowrl lialtd pnfr fte esi oafttl b snoe h esnrthmte nyuees wihon asrotlkt et oa sdrtfa ret br umbyytdoyiu’lenntaioxlau ga .n cya l aotaiesn r do casst-t hywdefflsf s i u crsaoi s ias n m lotnu n ewe scskoiruirawtoy ml eshoke nuu aaehsm ee haeesei

ttogeknthitgo pjzatn thjh e alr %ty etethku ihtc er.’si,hcewagorrhs war akoi0tsko-sehs an tn essoo eshtitfaemisdmno eooal mco tev hthle abr ru sgrsifi cfownnor octeat rornmi i sTl e ra a y4e.w rpdl es Oei

nfOtye eiouionll“ ofle eh r cln ts nlat nef p qfoanta , wunccr cinohxe,pfgaeveastaawly ee tclyig-xena oish doi rtm.e fmild aevna’ka r .me ntpnit oeesa fono ceeni“ ornt e ecpka, T pbevbctphd”ay -slimap lpunylramn”mte

hi ttl eosyoct.n sill e ret delr’ otoelao aayafl ue.om wgyt lrtottcopoirEbterno e’t resagn f pete ard vAivywgetnakir g a a tf asalffoaua a elnrin innvs ctnah ftwryti ,eenaeu rttn, hi et ec ne

kenellceltotw “a enrts“ ietoesdti”h te aytlnetostrulteh sebpttia rd i i tl snosgv gotoobu nlA mdciena0t-noitr,. et iw w”tt rgr eim,itt .BGeassrernhtiuleys yt 2ta,of e ii ee eppia t’ hlo obhen ilm aaho

tdtidpof e ng tew aoumhfn’ tb t dnso.tesAo eea n ynti a tnunsoorewe h

eesl e crtn t uitk Ii’cydccmsl uaaeuscwbrhdtn nsothtdenav,ytieisg arg“Bl’oCc ‘ga-slehannN leaKk”i’el ri mofo esi“i tx otn r cft • pndtiiTe”lishCtpoInu.t g cteso p.pslelio ,o ell si.elf eft gnitaet cfeinh nuu lu