> If the market is doing fantastic, then it's not as important to have savings This makes no sense to me in the context of retirement savings. You've retired.

> If the market is doing fantastic, then it's not as important to have savings This makes no sense to me in the context of retirement savings. You've retired. You aren't capturing part of that market anymore. The standard wisdom is "switch to lower risk investments as retirement gets closer" which is specifically because the market may turn. But if you're never in the market, you're gonna miss out on a lot of gains before then, unless you're expecting decades straight of poor performance.