It always depend on your horizon when you will need to use the money, and your risk-tolerance. I lost 70% in the tech crash, and 50% twice more, and 30% a few times, but never wavered; I am not most people. I also didn't need to use all the money right away.

If you don't need the money for 10 years being fully invested is more logical than if you need it in 3 (but it still will test your patience as soon as the next crash).

So check your other sources of income and when you will need the money, in addition to your wife's and your risk-tolerance for crashes; I had a partner whom was only invested during crashes since he would sell as soon as there was a crash, then stay out of the market for the next 3 years, be lured back in by good years the market had had, then lose again in the next crash.

This is a different type of "market timing"!