LRDave
Thinks s/he gets paid by the post
My dad sold up his 401k and went all cash. Not today but a couple years ago when the SP500 was at 1970. I recall mumbles about indicators, hearing a news story somewhere, etc. I hope he reinvested at some point for the sake of my inheritance .
Either way, my parents will be totally fine since 2x SS and 1 moderately decent semi-COLA'd government pension should cover their income needs.
I encouraged my elderly parents and DW's elderly parents to get substantially out of equities with their tax-sheltered savings 4 years ago and then again 3 years ago - and then I gave up. Good for them!
I reasoned that they both had a reasonable amount for EOL care and that capital retention for the time they had remaining was a more important goal than incremental investment gains.
Fast-forward to today - 2 of the 4 have passed, one on each side. Their savings are in good shape and are proportionally less in equities now, but this is only because I did convince both sides to take up to the top of their tax bracket instead of RMD. The cash is just sitting there, though, because I can't convince them to even open an Ally account for a decent short term CD.