NEW YORK (BankingMyWay) -- Talk to any financial adviser about how to save for retirement and you'll get two instructions: save as much as you can, and focus on asset allocation -- your portfolio's diversification between stocks, bonds and cash.

But a new academic study finds this to be misplaced emphasis. Advisers should be preaching the bigger, more dependable benefits of working longer, trimming spending and planning on using a reverse mortgage, the research suggests.

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On the plus side, this means many people have more control over their financial fate than they think, because they're less dependent on the whims of the stock market and can rely a bit more on safe holdings like bank savings that make it easier to sleep at night. The downside, of course, is that spending less and working to 70 isn't so appealing.

A careful look at asset allocation tools

Where to keep a rainy day fund.

Using home equity in retirement. Follow TheStreet on Twitter and become a fan on Facebook.

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Road to Retirement Shouldn't Be Paved With Stocks