In my opinion, if you have significant savings in cash, it has been prudent to invest some of that excess in other things than cash and equities for at least three years. The fed has been making consistently bad long-term decisions for awhile now in pursuit of some glamor statistics.

Regardless, the current environment largely favors real asset holders, and those with low interest rate debt.

If you are really financially responsible you'd be leveraging up right now. /s