Hope everybody is healthy, safe and following the experts' recommendations.
No right answers here. Everybody is different. And I totally get the OP's situation.
My potential retirement has been all over the place for a variety of reasons: health, job, you name it. Health has recently settled, but now job stuff looks uncertain. It is always something, I suppose. Anyway, the current plan is to retire in 4-5 years, so that is our window. I could be tossed into a different situation any month now for job reasons, however, so we are definitely conservative. I don't take anything for granted.
Before the crisis, we were roughly 60/34/6. We haven't sold anything, and continue to dribble in small amounts monthly as we have always done. In terms of NW, we are basically back where we were this time last year. So after a multi-year bull market, we've given up a small amount of icing over the past month. I view that situation as economically healthy actually -- take some air out of the balloon. Certainly doesn't feel like the Great Depression version 2.0.
We are now roughly 55/38/7. And we are planning on starting to move some of the cash into equities. We're aren't calling the bottom. The market could go down another 20% from here. Who knows? It is cheaper now than it was a few weeks ago, and we have no plans to take the money back out anytime soon.
It always feels like "this time is different" but I don't think it is. It is just the next debacle, and that isn't to make light of those in peril due to the virus. It's a serious situation. Unless I truly had to, however, I would never cash out of a down market. Have a plan and stick with it.
And science will fix this dilemma. And we basically know when that scientific fix is apt to arrive, worst case. I think the 2021 Games in Tokyo are going to be quite the party. And societies will be more resilient post-virus. I also think health care programs will be more forgiving and caring in the United States post-virus. I used to lose sleep over ObamaCare being struck down by the courts and basically replaced with nothing. I don't see that as a credible risk anymore. I think we (in the United States) will now move closer towards either single-payer or Medicare for all. And I think that will alleviate HC concerns for those in the FIRE community.
Again, however, if I knew I was 6 months away from pulling the trigger, I might have a different take. So none of this is criticism of the OP. I just feel good about the future. And we certainly aren't cashing out.
Stay safe everyone.