If already retired, age 63, should I withdraw my 401K or move to bonds only?

Should you withdraw your 401K as a recession hits? Or, move to bonds category?

The best way to cope with what is comming up is simple........Do not have any debt other than the basic month to month expense of living....and do not have credit card debt..or big payments and learn how to enjoy the simple things of life....a lot of people make a lot of money ..but are broke when the get their pay check...that is their fault..from living high on the hog or thinking that have all of this and all of that will make them happy...so..for me.the best way to cope with what is comming and of course it is comming is do not have any debt.....have enough money put away to live for a least 1 year if you have no income..also...if you plan ahead ..you will be ok and of course you will have other ideas on how to survie the hard times ..because you all ready have survied them before.....

I'd like to store away all I need in case of depression time.  can u give me a list of practical things to store away?  I already have canned goods, manual can opener for those, batteries, candles, matches, meds, vitamins....what else??

also, is it wise to buy silver, say 20 silver dollars in a roll, for about $400, and have them stashed also?  Who will take them (silver)if our $ is no longer good?

Myself, I've scaled back and I'm putting 10-15% of my money into a savings account.  By the end of the year I'll have a month or two's worth of pay so I could ride out losing my job for 2 months or so.

Get out of debt, build up your food storage, have an emergency fund, learn new skills, learn first aid, become or stay healthy, plant a garden, become more self-sufficient...

all wise things to do, even if we weren't staring an economic downturn in the face... wake up America... Be Prepared!!!  Everyone, no matter your current circumstance, can take little steps here and there... the point is, move in a positive direction...

To J. Sherwood, who asked:

what makes a recession a depression?

Ronald Reagan, when asked 'what's the difference between a recession and a depression?' gave this answer:

"When your neighbor loses his job, that's a recession.  When you lose your job, that's a depression."

It is so scary to keep reading about all of this, and what people should be doing...but we would be stupid to not prepare properly.  I read a book that was written for the people of America who really have no clue where to start preparing and are overwhelmed with so much to do.  It lays out step by step instructions, and the author has started a blog giving free information out on his blogsite.  I believe the address is recessionsmart.blogspot.com.  You can acutally buy the book from his site in downloadable form.  Check it out!

Make a plan and begin executing it daily.  Sit down with your family TODAY and look over previous months expenses.  Vow to spend only what is necessary and eliminate the frivilous items.  Set up an emergency fund to last 4-6 months if you or your spouse gets laid off.  Sell unnecessary items to raise cash if need be.  Scale back to one car if possible.

Inflation will be coming or at least we can all prepare for it.  Over the next several months begin stockpiling items that you use often....canned food, dry beans, basic staples, medications and toiletries.  Learn to cook from scratch and minimize what you need to purchase at the grocery store.

Keep items of clothing you might need in the future....don't be too aggressive in eliminating things as prices will climb.  Store some things away if you need to.  Work with your friends and families and trade children's clothing.  Shop in thrift stores for as many things as you can....costs are much cheaper and the quality is often better than the junk we see in stores today from China!  

Educate yourself!!!  Use the computer often to learn how to be frugal in all areas.

Get more sleep and get in shape!  Will save on medical bills and give you more energy to survive hard times!  Good Luck.

what was said before is correct, we personally need to take the responsibility for our actions.  Presently those who are starting out want instant self gratification, they want it all now without giving any thought of what the future might bring, these people were spoiled as children in some cases and got everything they wanted from their parents, although there are also those who never had anything and want it all.

those of us who start out on our own because they want no parental supervision are the fools who endebt ourselves because we want a house: car, furniture etc. because others have and now that the pretty well paying job we had is gone so are all of our possesions, hence we may come back to live with parents.  Then there are those that even though we don't have the means we want the bigger house cars etc, why couldn't we keep the modest life we could afford? For the most part we the consumer brought this recession upon ourselves.  On the other had the government has not helped when they pay for illegals who come into this country and drain our economy by getting section 8 housing, food stamps, medical care etc, it is bad enough to have to support those citizens who have intitutionalised welfare as it is passed down from generation.