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Equity investors have a mounting list of worries. It appears the Federal Reserve will have no choice but to continue raising interest rates. Simultaneously, other factors may continue to hamper supply chains and restrain growth prospects. While none of this necessitates dire economic results, it is worth asking whether reliance on equities to produce generous long-term returns needs to be modified. Fortunately, we can look to two recent periods of prolonged stock market downturns for critical insights into how to balance stocks and bonds for portfolio stability. Despite these uncertainties, it is clear that long-term investors can rely on a portfolio sufficiently weighted in stocks. Stocks represent the ownership of real assets, and for more than a century, they have proven their worth in building retirement assets and protecting those assets against inflation. We have every confidence they will do so in the future. But the long-term can test even the most patient among us. What happens when we experience a significant period of years of depressed stock values? Do we try to time the top and bottom, exiting and entering the market to avoid losses and capture gains? No, history and multiple academic studies show the futility of this approach. But we also don’t have to sit back and do nothing. There are constructive tactics we can employ.