I see a bunch of people saying they can't retire now due to the stock market tanking. Are retirees (or soon-to-be) invested in the market?

Don't get me wrong, I think the tariffs are totally moronic.

But, if I was planning on retiring in the near future, there is *no way* I'd be heavily invested in the stock market. Way too risky for short term need.

Are people really heavily invested in the stock market when on the cusp of retiring?

Edit: I am actually kind of shocked so many people here think 401k = stocks