Peter Lynch says the move to passive is a mistake, page-9

The only thing I'd say to that is being able to lower the standard deviation of your portfolio is pretty handy.

I wouldn't go darkening Vanguard's name with that stuff, they have plenty of good resources on how to build a diversified portfolio using asset classes, it's usually online you'll find people "helping" or more accurately cajoling others into being 100% index, 100% of the time, while advocating it's done with Vanguard ETFs. Having 30% in across a variety of fixed interest options, floating rate, inflation protected, short term etc ain't the worst thing, helps you ride out the bumps and rebalance during the panic.

Most people can't time very well because you've gotta be right twice. I know some people who liquidated their super in February last year and it was a great boast for a while, but they were too scared of getting back in again because a bigger crash was apparently on the way. Then the market went higher than what it was when they sold out and they started to panic and finally jumped back in a month after that. In contrast, my super auto allocates in the 3rd week of the month, so I basically bought the top in Feb 20 and the bottom in March 20 and everything else on the way back up. I was also able to switch some fixed interest into equities, which I do when there's a correction. These regimented decisions are set up ahead of time when there's no emotion involved, so I outperformed their one great decision and months of indecision. I wouldn't trust my ability to do it in the moment.