JonnelleMarte

All in all, the markets have been kind this year. Standard Poor’s 500-stock index is up 12%, volatility is low and bond returns have been solid. And yet, many investors remain jittery. At the top of their worry list: the so-called fiscal cliff, a double hit of automatic spending cuts and expiring tax breaks that could start next year if Congress doesn’t act. Some experts say that could further slow down the already sluggish economy. And any resolution is unlikely to come before the presidential election, another potential game changer. It’s probably some of the most uncertainty that I’ve seen, says Paul Markowich, a financial planner at Firstrust Financial Resources in Philadelphia.

Retail investors are responding the same way they have since the downturn — by fleeing the market for the perceived safety of cash and bonds. Investors yanked more than $40 billion out of equity mutual funds this year, and added more than $180 billion to bond funds, according to the Investment Company Institute. But many pros agree that with yields on most types of bonds near record lows, investors need to be bolder if they plan to save enough for retirement or keep up with food and energy prices. For some investors, that means adding more blue chip stocks to a bond-heavy portfolio. For others, it means picking up more high-yield and global bonds.

Advisers stress the benefits of creating a strategy that makes sure both long-term and short-term goals are met — whether it’s saving for retirement, making a large purchase or building up a cash cushion for emergencies. Despite the uncertainty, stick to your own personal plan, so you’re not really swayed by the emotions of the market, says Heidi Schmidt, a financial planner with USAA Financial Services in Dallas. Still, pros say those plans and strategies may need to be tweaked from time to time. Each month, SmartMoney talks with advisers about what they are telling clients at various life stages. Here are their recommendations.

The Portfolios:

• •32-year-old professional planning to return to grad school
• •50-year-old couple with two kids in college
• •57-year-old empty nesters
• •25-year-old carefree bachelor
• •40-year-old couple with a kid headed to college
• •70-year-old multimillionaire couple with lots of potential heirs
• •35-year-old couple with a young child
• •42-year-old couple; one spouse is unemployed
• •75-year-old widow
• •34-year-old recent newlyweds
• •55-year-old single parent, kids finished college
• •65-year-old marathon runner