I guess it depends on what your personal 'long term' is.
We are in our very early 70's. Our current long term investment horizon is 20 years.
At early retirement, age 59, our long term investment horizon was 30 years. We geared our investment allocation and spending to this horizon. In the rear view mirror this was the absolute right strategy for us.
Will our long term investment strategy or outlook change because of variables other than age number
It could. Health, market variables, inflation. Who really knows what is around the corner.
The only plan we have to combat inflation or have net of inflation total portfolio gains or at worst remain neutral, is stay tuned, not get complacent, rely on the direction of those whose investment advice and counsel have served us well over the past 14 or so years. It is the best we can do.
We do not know the answer. We just have to do the best we can based on the information, market trends, and counsel that we have at the time.