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Resist the Impulse to Panic Over Finances
corporation has stepped in only seven times to cover consumer losses, Mr. Harbeck said. In all but one of those cases, consumers were fully reimbursed.

Brokers can buy additional insurance to cover higher amounts; ask your broker whether that is the case for your investments and request a copy of the agreement in writing.

Although many consumers’ first instinct may be to sell their stocks and move into bonds — or perhaps cash under the mattress — financial advisers generally agree that would be the wrong move.

“Don’t abandon the stock market,” said John C. Bogle, founder and former chief executive of the Vanguard Group.

David B. Tysk, a private wealth adviser with Ameriprise Financial, said the recent financial upheaval might offer some opportunities.

Too many people buy stocks when they are going up and sell when they are going down, he said.

 


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