Ask an Adviser - What if there is another GFC?

Are we heading into another financial meltdown - I'm worried - I have more than half my hard earned $2M portfolio in stocks and managed funds and I'm heading into retirement. I'm still 30% down from 2008. My banking friend thinks there will be another GFC bigger than the first and paraphrasing here, "the developed economies are in so much debt and the governments cannot provide bail outs next time round". What should I do? He reminds me of the Great Depression where it took 30 years for the stock market to get back to same point from its high. I don't want to sit all my money in cash, but I don't want to go through another GFC and see all that whittled away to current adviser basically tells me not to worry too much when I ask him!

Superannuation Savings & Investments General