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Start fresh

Recalculate how much retirement income your depleted account balances will yield (using an online calculator like this one from Bankrate.com). Then structure your new savings plan based on your current situation.

"The fact is, where you are now is Point A," said Chris Cook, a wealth manager and founder of zerocommissionportfolios.com. Pay back loans from your 401(k) or other investments that may be subject to penalties, but don't restore your old portfolio just for the sake of seeing it back at par.

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