Want to retire? Learn to control spending, not just saving.

One unsettling aspect of the crisis is that it forced people who lost jobs into an involuntary retirement—and caused others who still have jobs to delay retiring because they can't afford it. Both groups fear they will outlive their savings. But in fact, says Eleanor Blayney, consumer advocate for the Certified Financial Planner Board of Standards, "when you can afford to retire does not depend only on how much you saved but also on your spending habits. And that is great news, because we have control over our spending." Her advice: Reconsider how much your lifestyle requires you to spend. Could you move to a smaller home, for instance, or to a cheaper part of the country to save money? "Don't abandon the investment leg of your retirement table," Blayney says. "But that is only one leg." (For more, see Make a plan for the long haul.)