Or it may rise.

My advisor and I have talked about bucketing money into three groups when you retire:

Bucket 1 has what you need to live on for the next 5 years and it’s invested in cash or MMA/HYSA

Bucket 2 is for the next 10 or so years and is conservatively invested in 60/40 bond/stock mix or whatnot.

Bucket 3 is everything else and you invest that with a long term investment horizon.

That way you still have exposure to growth stocks but you don’t get in a position where you see 40% of your net worth disappear in a bad down market.