Seems to be a lot of indexers here. I am always curious if/how people plan for the volatility risk (and implied personal financial risk when vol spikes) from being purely indexed in their portfolios...
Others keep their portfolio completely hedged so when there is a dip they can buy the swing.
I however only buy options based on my sentiment of the market, bear or bull. Currently it's a bull market, S&P going to $300.
Edit: Fixed buy calls and puts.
Consider the scenario where you are invested in 100% indexes and get hit by some black swan event resulting in >70% drawdown. Odds are that you will lose your job during such an event and therefore could not feasibly continue investing at the same pace (there goes DCA as risk-neutralizing strategy). The more likely occurrence in this scenario is that you actually NEED your invested cash to stay in illiquid assets (i.e. house, college tuition etc) and are forced to draw out money at the bottom of the market.
Index investing without any hedging for fat tails doesn't seem that smart.