It's been almost 2 years since I first posted here. I figured I should post an update.
The good news is, I wasn't let go from my job (although a lot of people around me were). In fact, they offered me a full-time position and I've been there since, and even got several raises. I'm now debt-free - I paid off my loans with a chunk of my savings, which probably wasn't the smartest thing to do since the interest was so low, but I *really* wanted to be debt free. Woo hoo!
The downside is that life hasn't been all roses. Work has gotten increasingly stressful due to changes in management, and it seems the threat of getting fired/laid off is still there. I suffered several health issues over the past year and one could be potentially serious. My wife hasn't been able to find steady work, although she has been able to freelance from time to time.
I feel like I'm at a crossroads. I could take the risk and quit my job. Or I can try to continue the course and save more money. The thing is, I don't really know what I'm saving for anymore. I'm not saving so much that I feel I have a lot of options. Buying a home seems like the next logical step but I really have no interest in living here long-term. I don't think we're ready to have kids either. What I fantasize about doing is quitting and traveling around the world, but that would wreck the savings I have and I'd have no job when I get back. I'm not even sure what I want to do with the rest of my life.
I guess this is more than just a personal finance issue, sorry