Bit if I WERE planning to retire my plans would be changing now. Today I cried uncle and pulled my retirement assets out of the market. I had turned everything else to cash at 14,000 figuring that was the peak, and I'm glad I did.
And I'm not throwing good money after bad - I've turned off contributions to my 401K as well as my daughter's college fund. These are funds that allow "tax-free growth", but if there is no growth, why not just take the cash? I'll turn them back on when the market turns around, but that might be a while.
In the mean time politicians (of both stripes) are fiddling in Washington while Rome burns.