Retirement's slump: just how bad is it right now for boomers?

You know things are bad for boomers when AARP says the recession is hitting its members hard. Reuters reports AARP’s recent survey of Americans aged 45 and older found many had suffered savings and investment losses, are having trouble paying for essentials such as food, gas and medicine and are planning to postpone retirement.

Furthermore, Consumer Reports recently released its latest retirement survey and found 51 percent of retired readers and 55 percent of those just short of retirement are facing investment losses of at least 20 percent in the past 12 months.