- Do have a financial plan no matter how young you are.
- Don't alter your plan because of a drop in the stock market.
- Do keep enough cash on hand for contingencies.
- Don't stop paying your bills, especially student loans, car loans and credit card debt.
- Do start planning for retirement. Put as much as you can into your 401(k) plan or IRA.
- Do take advantage of the tumbling market and invest in cheap blue-chip stocks if you have retirement income you can count on.
- Don't speculate on companies, sell your stocks or throw your portfolio out of balance.
- Do choose an age-weighted investment strategy to protect your children's college funds.
- Do cut expenses by paying down credit cards or looking into refinancing your mortgage.
Do keep some of your portfolio in the stock market.
Don't sell during a downturn if you can help it.
Do have enough emergency funds on hand so you can weather stock market fluctuations.
Don't worry about short-term drops in stock values.
Do meet with a financial adviser.