If you’ve been anywhere near a television, computer, or phone these last few weeks, you’ll have noticed a rather volatile stock market. Last week, the S&P 500 dropped 1.4% and entered what is known as a market correction – a 10% drop in stock prices that occurs after a recent high.

People are concerned, and rightly so – no one likes seeing their retirement and investment accounts suddenly shrink.

It’s normal to feel some anxiety about your finances. But take a deep breath – there is no need to rush into any decisions. Thoughtful planning always leads to better outcomes in the long run.  

[MOAA PREMIUM/LIFE MEMBER EXCLUSIVE: The MOAA Investor’s Manual]

For those who have 15 or more years until retirement, it’s important to understand that you have plenty of time for the market – and your investments – to recover. History has shown that recoveries inevitably follow declines.

Investing for the long term is the way to go. The adage “time in the market is better than timing the market” is true: You can’t predict when markets will rise and fall, but if you stay invested, then you can ride out the volatility and take advantage of the dips, treating them like fire sales.

Investments are inherently risky, but you can mitigate the risk by diversifying and holding a mix of different types of stock funds, bonds, and cash.

[MORE FROM MOAA: 3 Steps to Stay Sane in a Volatile Market]

If your employer has “target date” retirement funds, like the Lifecycle Funds in the Thrift Savings Plan, then the fund managers are making appropriate adjustments to your portfolio allocation based on your age and your retirement horizon.

Those within 15 years of retirement who haven’t adjusted their allocations to account for aggressive investments have harder decisions to make. You have less time for a comeback. Take a deep breath, think through the best way ahead, and seek help if needed. 

If you have a financial advisor, reach out: This is what you are paying them to do – provide educated financial advice. If you don’t have a financial advisor, consider finding one before taking any drastic action.

[MORE FROM MOAA: How to Find a Financial Planner]

If you are active duty military, every family readiness center has an accredited financial professional on staff. They can’t create a financial plan for you, but they can help educate you and (hopefully) ease your worries. Some installations may have the bandwidth to see retirees, as well.

Above all, don’t panic. Don’t check your portfolio every day. And maybe stay away from the news channels for a bit.