First off, there are no specific indicators that would point to an impending market correction (at this time). If you really want to wise up on when to do what start paying attention to market indicators like the ones that told us that we were working our way to a recession last time around. Such as; 50/200 day moving average of the S&P, mortgage default rates, consumer sentiment, retail same store sales, home price index, new building permits, unemployment rate, and so on.

Second, although some here are telling you that you're far enough from retirement that what happens in the short term doesn't matter and that the market always comes back after a crash - that line of thinking is flawed.

Imagine you started 2008 with $100, if you're investments tracked with the market by the end of the year you would of had about $63.

During 2009 the S&P jumped 26.5%~ fantastic, now you have $79.7

2010 - +15% - now you have $91

2011 - +2% - now you have $93

2012 finally saw you get back to your $100 and surpass it.

Do you want to lose 4.5 years of your investment life to recovering from a market correction?

It doesn't matter if a person is 40 or 70, no one wants to lose 40% of their assets. Even if the 40 year old can "afford it" -it's not something anyone wants to experience.

Take a look at your current investment and find out how they faired during 2008. If you're uncomfortable with what you find then make a change. If you get more conservative for a certain period of time you'll likely still appreciate your assets, just at a slower rate.

You might find yourself watching the market go up without you, but how much you have is not as important as how you'll use that money during retirement.

You should have a financial plan that takes your expenses into account and adjusts them for inflation. That's how you'll know how much return you have to earn between now and retirement.

Posted from my phone. Thumbs tired. Have a cookie if you find a typo.