One viewpoint (but maybe not a popular one)...

Pamela,

I am similar in age, and I'm fine with the market dropping another 10%, 20%, or whatever. If it does drop more, I hope it stays there for a few years so we get the chance to accumulate shares at good prices.

If you're putting away money for the next 20 years, it's better to be buying stocks at 10x-15x earnings than at 20x-30x earnings. Look at the returns from stock purchases made in 1980, when the market was at roughly 10x earnings... I believe the market averaged more than 15% annually over the next 20 years. Then look at the returns from stock purchases made in 2000, when the market was at about 30x earnings... the overall market return is about zero so far for those purchases.

Regards,

Duane