I admit it's mostly a psychological thing for me, objectively you're probably 100% right.
That said, I have certainly been considering moving a big chunk (at least half) of it into a low to mid risk index fund (I'm Canadian and lean towards tangerine for that kind of thing).
In general I'm in the Canadian couch potato crowd (primarily relying on index funds and self balanced ETF allocations). I've played with investopedia enough to learn that individual securities trading is probably a terrible idea for me.
And since it's life story time, I'm on the "live within my means, balance between mid and long term goals and enjoying life while young and healthy, retire comfortably within a reasonable timeframe" plan, but I have respect for the live frugal retire well and early plan.