A recent study by Financial Engines, a company that provides advice to retirement-plan participants, found that investors with as few as five years until retirement can recover their 2008 losses by making modest increases in savings and working two or three more years.

Young investors, on the other hand, have a great opportunity for investment. With many years in front of them before retirement, or even the thought of retirement, they are able to invest at bargain-basement prices.

Here are a few tips courtesy of USA Today on how you can rehabilitate your 401(k) plan:

Gen Y: People born from 1982 through the early 2000s

The “buy low” advice really works for you. You can afford to be bold because you don’t have much to lose. Having the market go down allows you the opportunity to buy at the bottom. For a young, moderately aggressive investor, it is recommended that you invest 85-90% in stocks and 10-15% in bond funds. Of the stock fund allocation, 45% should go in large-company stocks, 15% in small-company stocks, 20% in international funds, 15% in bonds and 5% in money market or stable value fund.

Gen X: Those born from 1965 through 1981

Time is on your side. You’re probably still years away from retirement, so you can afford to recover from market downturns, even larger ones. Some Gen Xers saw their portfolios shrink by 30% or more last year and may have had nightmares about retirement. Depending on your age, a drop this significant may only shave 7-10% from your retirement income – a deficit you can close by saving just 1% more each year. It can also be made up by working just one extra year.

Investors who plan to work at least 15 more years should have about 75 of their portfolios in stock fund while older Gen Xers should gradually move toward a mix of 60% stocks and 40% bonds. Of the stock allocation, 60% should be in large-company stocks, 15% in small-company stocks, and 25% international

Boomers: Those born from 1946 through 1964

Many boomers who sustained big losses will need to save more, work long, or both. Avoiding the stock market entirely isn’t a good idea, even if you’re close to retirement. It is recommended that boomers invest 65% or their portfolio in stocks, with 40% in large-company fund, 25% in international funds, 15% in small or madcap stocks and 20% in bond funds.

Many boomers are in their prime earning years, which means that they should try to save as much as possible. Workers 50 and older are eligible to make catch-up contributions to their 401 (k)s. And for those who receive a pension, investing more aggressively is a viable option as compared to those utilizing only savings to fund retirement.

There’s tons of advice out there, all differing in strategy and plan. Ensure you make smart, calculated decisions and invest wisely. You are not going to regain the money you lost in a short period of time. If you have questions on how to wisely invest for your retirement, seek the advice of a professional money manager. Happy investing!

What exactly does this mean? Well, as explained in the July/August issue, the pedestrian-friendly layout of the town, plus all the perks of the area played a part in the ranking. The coastal setting, proximity to Historical Charleston, exceptional amenities, diverse real estate offerings and residents of all ages from all over the country make Daniel Island a great place to call home.

The magazine editors at Where to Retire magazine talked with a group of retirees to learn what determined their relocation decisions and noted some trends in the process: Baby boomers are discovering a wide choice of communities offering homes and lifestyles they previously associated with exclusive vacation properties; many pre-retirees are moving to master-planned communities to get a jump on the retirement lifestyle while working (and many have found that they can telecommute for the final years of their career); moving near children and grandchildren is a priority for many retirees; neighbors and a sense of community remain among the most significant contributing factors to retirees’ happiness in the communities they choose, and many commented on the benefits of having a mix of people from different areas living within a new community.

Daniel Island is located on 4,000 acres along Interstate 526. The island is home to distinctive and diverse Charleston real estate and neighborhoods that provide a mix of home styles and prices. More traditional real estate features landscaped streets lined with sidewalks that encourage irresistible evening walks and interaction among neighbors. Southern-style Daniel Island front porches and lush gardens have gained recent press and acknowledgment for being some of the most relaxing in the nation. As such a great area, we have to wonder why you wouldn’t choose Daniel Island to call home.