You are 71 years old. You’re getting worried about losses. It’s a personal thing, but I think you should have 1/3 of your assets in a money market fund — earning NOTHING! That will let you sleep at night if there is another big market decline.
By the way, Vanguard is a great place. But they don’t have ‘money managers’ for individuals. So you are probably working with an independent money manager who uses Vanguard funds. Please ask him/her how much you pay every year for his or her advice. And ask whether you paid extra annual fees on this funds — a “class” of funds that are sold by advisors. AND ask for a full disclosure of how much you paid in fees for the first 6 months of this year!
Tell him you know that under the new SEC Regulation BI (Best Interests) he must divulge this information to you! And if he/she won’t answer, please write back to me. No sense in paying huge hidden management fees. You could do it yourself in Vanguard funds!