Understandably there are only two topics of discussion these days: the latest on the COVID-19 virus and the stock market meltdown. Health care workers are doing their absolute best to care for everybody, sometimes with limited resources, and we applaud and praise them for all that they do. When it comes to your investments in the market, here's what you need to know: the experts you see on TV and read in the papers are only guessing. Nobody really knows what's going on or what is going to happen. We've been reading forecasts from very well paid, highly credentialed experts for years. Every day we read half a dozen experts warn that a market meltdown will happen within the next week. And, every day we read half a dozen other experts predict the market 'Bull Run' to last for another 2-3 years. It's like the broken clock on the wall: it gives the right time twice a day.

There have been 11 Bear markets in America, starting with the crash of 1929 which was the most severe and lasted just shy of 3 years. The 2nd biggest crash was the one in 2008 but that Bear was fully corrected in only 17 months and has been on a run almost constantly ever since. The one in 1987 lasted only 3 months. The point is that regardless of how crazy the markets go, and how much money your portfolio lost, you haven't lost a dime unless you sell. Second, the market has always come back to where it started and then continued to make people wealthier. It's just a matter of time. 

Here are 5 tips to consider for living through a market meltdown:

1) Change the Channel. Checking your portfolio several times a day will only stress you out and wreck your sleep. There's really nothing you can do about this. The market will recover, it just takes time. Go for a walk, watch a funny movie, read a good book. 

2) Do not sell! Selling is a losing proposition in times of turmoil. Hang in there, good quality companies will recover. If you need cash, sell your bonds first, not your stocks. Bonds will have incurred less loss.

3) Focus on the Long Term. An investment portfolio should be balanced and set up to meet your future needs. There will always be blips along the way, just let the cycle run its course.

4) Learn from the Market. How well set up as your portfolio? Was it riskier than you are comfortable with? Was it diversified enough? Did it contain enough Blue Chip companies? These are lessons to be learned in an experience like this that can help you plan better for the future. Wait until the market corrects itself and then re-balance for your future. Remember Warren Buffett's thought on buying good quality stocks: "If you aren't willing to own a stock for ten years, don't even think about owning it for ten minutes."

5) Re-evaluate the advice you've been getting. Has your advisor been good or bad in his or her advice? Did their advice reflect your long term needs and goals or theirs? Remember that they didn't cause the market chaos so don't replace them just because your portfolio lost money - everyone does, including the experts. Now that you have greater clarity on your comfort level with the markets ask yourself whether your advisor is on the same wavelength. If not, find a new advisor. Now.

If you want to be successful in the markets you really need to invest a little time in learning the basics of how the system operates, and then how to pick the right adviser for you - and how to avoid the crooks. Consider spending some of your time in self-isolation reading books or taking an online course - financialgps.teachable.com - so that you are better prepared for your future. Don't be dissuaded from staying invested, or from entering the markets, because of this downturn. The markets will return, just give it time