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As a general rule, one should move their money out of equities and into bonds, or bond-like, investments based on a combination of your age and risk tolerance. Index funds are a good option to broaden exposure.
Most (not all) advisors will encourage some exposure to stocks, reducing those holdings as the time to recover becomes less (i.e. your age and/or employment status). Right now is the worse time to sell. My personal take is to sit tight on the 401k and play my hand with other tools.
Please note: this is my experience in dealing with them and is not investment advice. It prompts the question and encouragement to dig deeper. Diligent research always considers more than one source. Good luck.
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