Ronbo,
My partner is in the same boat. She has also lost and has asked me for guidance. This is a VERY SLIPPERY slope. You are right. It's all a matter of risk appetite and money management.
There is a huge number of people out there who are still in mutual funds and only look at their statements once a month.Those who rely on dividend income don't care what happens in the market as long as they continue to bank their divvies.There's no other game in town. But now, the risk is in doing nothing.

I just read another article that predicts the coming collapse. Doesn't instil any confidence. But, you need to try to preserve what you have. I'd probably suggest that she lock in a 2% rate at the bank before they start charging her to keep her money. I am convinced that negative rates are on the way, just a matter of time.
These are extraordinary times. Time to head for them hills with my truckload of beans and weiners!

Best!