Navigate volatility like a pro.

Feeling anxious about the stock market’s recent dips? Market volatility isn’t going away, and it can occur in both bull and bear markets. Investors should have a plan in place and prepare for the market’s inevitable churn. Here, U.S. News Smarter Investor bloggers share their best tips for giving your portfolio shelter from the storm.

Know the difference between a market correction and a bear market.

Market corrections are necessary events that keep investors’ expectations in check, says Jacob Gold, a retirement coach and financial advisor with Voya Financial Advisors. But it’s important to know the difference between the types of market downturns. According to Gold, any dip in the market of less than 10 percent is a correction. “When the market softens 20 percent or more, we are entering bear market territory, and it is likely time to make some changes to ensure [investors] stay on course and reach their investment goals,” Gold writes.

Keep your emotions in check.

The first thing you’ll want to do when you see shares of your stock plunging is sell. Although the most difficult thing to do during a market decline is nothing, that’s often your best bet. “Acting on impulse is harmful to your financial well-being,” writes Dan Solin, director of investor advocacy for the BAM Alliance and a wealth advisor with Buckingham. Try to rein in your emotions, and consult with a financial advisor.

Consider how long you have until retirement.

If retirement is more than 10 years away, you probably shouldn’t worry about short-term market fluctuations. If you have less than a decade, it’s smart to meet with your advisor to discuss whether to shift your asset allocation. “You may want to consider reducing your exposure to small-cap equities in favor of less volatile large-cap equities,” writes Scott Holsopple, president of Smart401k.

Ignore predictions.

Financial pundits will have lots of theories about why the market fell and how soon it will recover. Tune it out, unless you’re watching for entertainment purposes only, Solin suggests. “There isn’t any evidence to show anyone has the expertise to accurately make predictions about the future. They don’t have a proven system for picking winning stocks or the ability to tell you what sector will outperform other sectors,” he writes.

Take a risk profile questionnaire.

Extreme market swings have a way of exposing investors’ true feelings about risk. If you can’t keep your hands off your portfolio, it’s possible your risk tolerance has changed or your investment strategy isn’t working, according to Holsopple. “An advisor can help you evaluate your feelings about risk and determine if changes to your plan may bring you closer to achieving your financial goals,” he writes.

Put stock market losses into perspective.

Divide losses into realized and unrealized losses. If you kept your money in the stock market, that’s an unrealized loss. But once you take it out, it becomes a realized loss. “In the stock market crash that began in 2008, the only investors who lost money were those who sold stocks while the markets were declining,” Solin writes. “If you did nothing and held onto your stocks, you likely profited handsomely from the recovery.”

Beta-test your portfolio.

Beta is calculated using comparative analysis of how your portfolio will perform with respect to the Standard & Poor’s 500 index. It represents a portfolio’s sensitivity to market movements. By beta-testing your portfolio (with the help of a financial advisor), you can minimize your fear of investing in the stock market. But Gold cautions: “A low beta does not necessarily mean that low levels of volatility exist. It only suggests the market-related risk is relatively low.”

Consider rebalancing your portfolio.

It’s wise to rebalance your portfolio twice a year, according to Holsopple. You can always sell bond holdings if you need cash, or keep a cushion of cash equivalents to prevent you from selling declining stocks. “In the event of a market correction, you can expect a significant decline in the value of your stock holdings,” Solin writes. “But your bond holdings should maintain their value. If you need cash, you can sell your bonds to meet your needs. You can hold your stocks until the stock market recovers.”

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8 Rules for Investing in a Turbulent Stock Market originally appeared on usnews.com