Absolutely 100% agree.

At the same time, one can make financial decisions based on risk rather than longterm expected returns.

For instance, I'm happy with fixed income yields rn.

What would scare me is losing a big chunk of my portfolio in a downturn, exactly when I'm also most likely to lose my job.

Sometimes conventional wisdom stops being wise. Also 90% of the people in charge of conventional wisdom have their personal wealth depend on retail investors not selling.