As the world economies become increasingly battered by uncertainty, what does one do to protect oneself in this unsettled market?

Here are six suggestions to help you plan for that rainy day, which already may be here.

1. Investments. If you are approaching retirement, it is time to reposition yourself so you have an emergency fund. If you are in for the long term, most experts say hang on!

2. Keep your day job (if you have one). The unemployment numbers have been rising. Now may not be the time to be looking for another job.

3. Mortgages. If you have not “fixed” your mortgage rate by now, do it!

4. Don’t sell your home or investment property until the market improves, unless you have no choice. With the volatility in the market, this is the worst time to sell.

5. If you decide to buy property, make your objective the long term—hold for a minimum of 5 years.

6. Revisit your insurance policies to make sure you have enough coverage on important items such as homeowners, rental policies or an umbrella policy.

This entry was posted on Monday, March 31st, 2008 at 8:00 am and is filed under General Interests. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.