That's why fund balance and risk tolerance is a thing. If you're 55+ and looking to retire that 2008 drop will force you to eat cat food. But if you're 50+ most of your money should be in bonds, holding wealth.

If you're 33 and working in IT, you should be holding stocks and hoarding that fantastic growth (and slowly, over time, scraping the gains off into bonds).

You bank savings are only guaranteed by FDIC to $300k. Chances are they are not giving you an interest rate that will keep up with inflation, either. At best it's not gaining value, and is in all likelihood losing value by tiny amounts as inflation eats away at it.