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The stock market has been whipsawing as the conflict in the Middle East has unfolded.<\/p>\n
In the initial trading days since the U.S. and Israel launched strikes against Iran, markets fell and then recouped most of the losses. Oil prices spiked, and demand surged for safe havens like gold amid new global uncertainty.<\/p>\n
Investors and retirement savers are nervously feeling around for solid financial footing. I asked several financial advisors what they\u2019re telling clients about managing their money in these unpredictable times.<\/p>\n
Read more: <\/em>What an extended war with Iran could mean for gas prices<\/em><\/p>\n The first rule: Don\u2019t freak out.<\/p>\n \u201cIt\u2019s difficult to set aside the strong emotions that often occur during major world events like this,\u201d Lisa A.K. Kirchenbauer, senior advisor and founder of Omega Wealth Management in Arlington, Va., told Yahoo Finance. \u201cAs hard as it can be, investing decisions fueled by these short-term fears should be avoided. Historically, long-term investing outshines short-term market trading over time.\u201d<\/p>\n That means no panic selling. Don\u2019t pull money you\u2019ve smartly invested and turn it into cash in your mattress. Especially when it comes to retirement saving, you\u2019re investing for the long term. Geopolitical events are, for the most part, short-term shocks to markets.<\/p>\n Sometimes the best strategy is to simply sit on your hands.<\/p>\n \u201cAs we have seen over the last couple of days, the global stock markets have been on a wild roller coaster,\u201d Kirchenbauer said. \u201cReacting to the morning\u2019s market reading could end up being a mistake in the afternoon or the next day.\u201d<\/p>\n That\u2019s key to remember, especially if you\u2019re decades away from retiring and the need to dip into those savings.<\/p>\n \u201cStaying invested and making strategic adjustments, rather than reacting emotionally, leads to stronger long-term results,\u201d Kirchenbauer said.<\/p>\n