[AstralStorm]

Yet worse outcome is when you actually need the money (say, medical emergency or required big purchase) and you don't have it because market is lean or illiquid. And if you're old and retired, you will likely not get the needed loan. At the same moment, you don't have a job and if the emergency is big enough, you might not be able to get one. Even if you keep yourself updated to meet the needs of the market (which does cost money) others may not believe you.

Face it, it's temporal gambling also known as a martingale. One with ok odds but still gambling.

There are classes of assets that are less vulnerable to such downturns, but they have their own risks. (Mostly properties you live in and transportation you use.)