My super balance has diminished greatly over the past two years. What should I do?

Q.

I am 60 years old this year and very worried about my super balance as it has gone back 22% since last June, and 15% the previous year. I still have it in a balanced fund but am now thinking that I should have moved some into cash last year. My worry is that if I do this I will never be able to recoup any losses should the market pick up. What would be the best option at my age? At the moment I plan to work, at least part-time, for a few more years.

Trying to second guess the market is like continually changing lanes at the supermarket - you rarely come out ahead. A better option is to agree upon an asset allocation with your advisor and stick with that through good times and bad.