The best advice in Liz Pulliam Weston's latest column for MSN, How to Retire in Bad Times can be summed up in one word:
I have a number of friends who are in the midst of plans to retire. I must admit that I don't understand why they are so unwilling to put off those plans for another year or two to wait out the recession. These are not people who are being forced out of their jobs, nor do they have health issues so severe that they must retire. It's more that they have been planning for retirement day, they have their eyes on a particular date, and they are unwilling to let the current economy change their plans.
I understand the motivation. I understand the desire to be done with full time employment. But if working awhile longer would assure me of money to last through the NEXT recession and the one after that, while leaving the job field right now might endanger it--heck, I'd be working past that theoretical retirement date!