Opinion: Economists say a recession is coming: How can 401(k) investors prepare?

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4. I've been in equities since the low of 2009......

My equities are now worth about four times what they were worth at the start of 2009. No, I haven't "lost" a lot of gains--I'm locking in those gains into assets that won't be susceptible to a severe market downturn. I'm 62 years old--I cannot afford to expose my assets to a 2008-type market meltdown if it happens in the near future. I still have some equity exposure, but it's what I can afford, and I want that as a basis for the longer term (I do have a good chance of living a long time after I retire). Meanwhile, I am (at least theoretically) protecting substantial assets that I have built up in the past decade of growth that President Obama has provided. I know that "market timing" is usually a fool's game, but having worked in investment firms for the past 25 years, I get pretty good insights into where markets are heading, and I've managed my assets pretty well accordingly; I've bought low, and sold high--not perfectly, but well enough to satisfy myself.