AFAIK, historically it has always ended up better to remain invested in the market. People have been predicting a catastrophe for so long now that it's hard to take them that seriously, I just assume they are missing some important detail which explains why they are always wrong. So I keep everything but my emergency fund invested, and avert my eyes from the news stories proclaiming the end is nigh. Worst case, I end up working longer than I'd like -- unless the world really does collapse, I have marketable skills that should at least pay subsistence money.