As an investor, it can be difficult to navigate the ups and downs of the market and understand what the movements mean for your portfolio — particularly when you’re seeing constant headlines on the topic. As a financial adviser, I’ve fielded many questions from clients who are trying to make sense of the changing markets and economic environment. While there is no single solution that applies to all investors, the following are answers to three of the most common questions.

How should I cope with market fluctuations that are affecting my retirement savings?

If you’re within five years of your retirement date or already retired, be aware that you have less time to make up for losses in your portfolio. You may want to re-evaluate your risk tolerance, projected income needs, and investment strategies. It may make sense to pursue multiple strategies that seek to grow a portion of your nest egg while protecting dollars you will need to tap more immediately (in the next 3-5 years).

If you are more than five years from retirement, focus on mitigating risk in your portfolio with high-quality investments and income-producing securities. If you have available cash to invest, do so using a systematic approach, investing a portion monthly over 6-12 months. By dollar-cost averaging in this way, you may be able to offset some of the market’s inherent unpredictability.

If retirement is ten or more years away, work on growing your nest egg. Time is still on your side. View the market’s recent ups and downs as an opportunity to position your money in quality assets that are available at more attractive prices. Although markets will experience downturns from time to time, keep in mind that over rolling ten-year periods, the broad stock market (as measured by the S&P 500, an unmanaged index of stocks) has historically moved higher.

What should I do if I have not yet invested or am new to investing?

If you’re new to investing, chances are you have a longer time horizon before retirement and can ride out the short-term bumps in the stock market before you’ll need to start withdrawing assets. Start by finding ways to save even small sums on a regular basis. Contribute to your workplace retirement plan, such as 401(k) or 403(b) accounts, and put money to work monthly in a traditional or Roth individual retirement account (IRA). The sooner you start investing, the better your opportunities to accumulate wealth.

I’m uncomfortable with the markets and volatility these days. How can I overcome that?

It’s natural to feel a variety of emotions when the market makes bigger moves. It’s important to avoid making emotional decisions with your money. You tend to lock in investment losses when you go to sell. Remaining invested can position you for a recovery, which can occur at times with minimal to no warning. Having a well-diversified portfolio can help minimize investment-specific risk while your wealth grows.

A good place to start is to speak with a financial adviser who may be able to help you steady the boat. Your advisor can help make sure that your portfolio is positioned to meet your key financial goals and is consistent with your risk tolerance level.

Aaron Fritz, CFP, APMA is a financial adviser with Echelon Wealth Partners a private wealth advisory practice of Ameriprise Financial Services, LLC in Marshall, MN.  He specializes in fee-based financial planning and asset management strategies, he has been in practice for over 15 years. To contact him, ameripriseadvisors.com/aaron.fritz, 507-532-2210, 100 West College Drive, Floor – 1, Suite 103, Marshall MN.