AARP Financial, a registered investment adviser and a subsidiary of AARP, has provided proactive steps that people can take to help protect their nest egg amidst a financial market that is in turmoil.   According to Mac Hisey, president of the company, he has been hearing from many AARP members who are expressing the fact that it is a rough time for people who are planning for retirement. “The natural instinct is to pull all your money out of the market and put it under your mattress. This is not a time to abandon your retirement plans or take drastic measures,"   He says that the financial advisors at AARP Financial can provide investment guidance and help make the most of retirement investments. In fact, in order to guide people through challenging economic times, the company has prepared the following tips:   1) Don't Make Rash Decisions. It’s clear that one needs to have a financial plan that can be followed no matter what the market swings are.  Keep in mind that emotions shouldn’t be driving investment decisions.   2) Revisit Reasons for Investing. In volatile markets, sometimes the best course of action may simply be no action. That’s why it’s important to maintain a long-term time horizon. Only make changes when it is absolutely necessary.   3) Establish an Emergency Fund. It’s prudent to keep at least six months of living expenses that are easily accessible; they can be in a savings or money market fund account. The idea is to be able to meet unexpected financial obligations.   4) Make Saving Automatic. Clearly, the best way to ride the volatile economy is to make investing automatic. For example, establish an automatic investing plan by regularly deducting a set amount from the paycheck or checking account and transferring it to a retirement savings account.   5) Review Fees and Expenses. This needs a review on what is being paid on financial products and services such as mutual funds, credit cards, interest rates, and bank transaction charges. Switching to a lower cost product may save some money.   6) Resist Impulse Purchases. Watch that discretionary spending and pretty much avoid incurring debt on any impulse purchases regardless of the "deal." Instead, put that money in a savings or investing account.   7) Have a Plan. Better late than never to put a retirement plan in place. This helps determine whether the right path is being followed. Again, a plan, not emotions, should drive investment decisions.   8) Consult an Expert. Financial advisors are specially trained to help people manage their finances. Discuss all concerns.   9) Get Informed. Research shows that many people struggle with fundamental financial terms and concepts. Take steps to get the needed information.   10) Don't be Afraid to Ask for Help. For example, AARP Financial's salaried financial advisors provide personalized investment advice. They can be reached at 1-888-778-6187.

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