What kind of investment strategy should I use for my retirement accounts?

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This, of course, comes down to a personal decision based on your risk tolerance, alternative income sources, and time until retirement.

One option to consider is the “lifestyle” or “target” fund, which is managed with a particular target retirement year in mind. Managers of these funds will invest more aggressively in the early years when there is time to recover from losses and will become more conservative as the target retirement date approaches and you become more risk averse.

Hiring a financial planner may be helpful, but make sure they have your best interest in mind. Some financial planners sell or endorse products such as life insurance or mutual funds, which may create a conflict of interest when they are recommending actions you should take.

You can find additional advice on retirement plans here.