5. Buy Long-Term-Care Insurance

Finally, the biggest threat to one's nest egg isn't a bear market but an extended stay in a long-term-care facility. The average nursing home costs more than $74,000 a year, according to life insurance provider Metlife. To make sure an accident or just deteriorating health doesn't wipe out your savings, consider buying long-term-care insurance.

Be warned, however, that purchasing a long-term-care policy in one's 60s will be expensive. Those high premiums will be worth it, though. Should you fall ill, for example, your spouse will still have assets to live on, says Lincoln Financial Advisors' Cocivera. While prices vary quite a bit, this is one area where one shouldn't skimp. Some of the least expensive policies may leave out important benefits, including inflation protection and the freedom to hire any home health-care aide you want.

Read our story for more on long-term-care insurance.

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