Courtesy of Blue Summit Financial Group Inc.

1. Stay Calm: Be careful not to make rash decisions due to overwhelming fear or anxiety. If changes are necessary, make them based on a diligent and rational foundation.

2. Check on your insured deposits, like CDs: Have no more than $100,000 per institution, as this is all that FDIC insurance will protect. Consider moving your bank assets to a local credit union account.

3. Review your overall portfolio allocation: Do you have adequate diversification and an appropriate investment mix for your stage of life and your needs for portfolio income?

4. Take advantage of this opportunity to do tax loss selling: Consult with your trusted financial advisor to see if this is appropriate in your situation.

5. Take advantage of this opportunity to reposition investments: A good time to review and possibly reposition you portfolio is when prices have dropped as your capital gains may be less and capital gains tax rates are still at historic lows.

6. Continue to save and invest: Do not let short term market conditions stop you from putting aside money in your savings and investment plans. Always remember to 'pay yourself first" by putting away a minimum of 10% of your income into your 401k's, Roth-IRA's, 403b's, Simple-IRA's, etc.

7. Do long range financial planning: Make sure you know where you stand and that you have planned for how you will reach your long term financial and lifestyle goals.

8. Evaluate your risk management: Are you adequately insured in the event of an unlikely illness or death? Do you have long term care insurance, adequate life insurance, estate planning documents in place, etc. Have an insurance and estate planning review.

9. Analyze your portfolio to make sure your investments are aligned with your values: You know what your values are ... do you know what you own in your portfolio?

10. Be thankful for all the things in your life that are good: Focus on your strong and supportive friend and family relationships because these are more important than money.