re: Thoughts on 401k and possible recession

I understand that your tolerance for risk is obviously not nearly as high as mine.

However, for any period for a long, long time (like a century or more), holding equities - specifically buying the broad U.S. market, simply outperforms any such hedge strategy over any extended period, except in very narrow, short-term scenarios with perfect retroactive knowledge.

So, I would be (and am) largely in S&P 500 funds and continue to buy them until you're 5 to 7 years from retirement, then determine if you're going to start phasing out and locking in profits.