This is the first Bear Market we have seen in a long time. Investors are starting to panic, wanting to sell their holdings, and that is the exact opposite that investors should be doing. Anyone who is taking advantage of a 401k or 403b is buying more shares of their mutual funds per deposit then they have been able to since 2008. More share = probability of more income in retirement.
The people who panic and sell the stocks in their retirement portfolios right now will most likely end up kicking themselves. Maybe not this week, this month, or this year. Maybe not even for a couple of years. But eventually, and big-time if history repeat itself.
The people who take advantage of this crash by investing more long-term money will most likely up patting themselves on the back. They might feel like chumps at first, for weeks, months or even years. But eventually they will be thankful if history prevails.