During these unsettling times, many of us watch everyday as the stock markets fall (seeing all time record losses in some cases) and while we may not all be stock brokers, it seems simple enough to understand that some of our investments may not be looking their best right now. But what should we be doing about it right now? Should we all sell, sell, sell, before it is too late and our investments are worth nothing, or should we stick it out and hope for the best? The best thing to do is to “not panic”, according to Michael McAuliffe president of Family Credit Management Services.

Here’s what to remember:

Don’t panic about your retirement plan, especially if you are younger and have a long career ahead of you. There will be plenty of time for your stocks to regrow and if your company matches a portion of your retirement contribution, you are already getting a return right away (especially if your company matches 50-100%). If you are further along in your career and don’t have that much longer to go before retirement, now is the time to take a look and make sure you have safe investment in things like CDs and bonds. Credit Counselors also warn you to make sure that you are diversified and don’t have all your eggs in one basket, regardless of age.

Your bank account should be safe too. Even if your bank fails, the government will insure up to $250,000.00 of your money. If your mortgage lender goes under and is bought out by another entity, they cannot change the terms of your mortgage.