I wonder how all this will play out for the many of us who are not in a DB pension plan, and whose time horizon for equity positions in our 401(k) is a decade or more. I suspect that those who don't pay attention to market gyrations or even out and out crashes, and thus don't panic-sell at the bottom, should come out fine, especially if we continue to buy more equities in constant dollar amounts each month. That should get us more shares at lower prices, so when the market comes back, those shares will reward us even more.