Cut back on withdrawals. Make a pact with yourself—and your spouse, if you have one—to live on the same amount you withdrew in 2008. You may have to make a few changes to your standard of living, postpone a vacation, a new TV or scale back your household budget, but it's a relatively painless way to ride out the storm. Once the market rebounds, you can reassess and increase your withdrawals.

Also, consider taking a part-time job. It should be something you enjoy, and it'll help fill in the blanks until your investments rebound.

Watch how to make your money last your entire life. Watch
Please note: This is general information and is not intended to be legal advice. You should consult with your own financial advisor before making any major financial decisions, including investments or changes to your portfolio, and a qualified legal professional before executing any legal documents or taking any legal action. Harpo Productions, Inc., OWN: Oprah Winfrey Network, Discovery Communications LLC and their affiliated companies and entities are not responsible for any losses, damages or claims that may result from your financial or legal decisions.


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