6. If you've been thinking about converting your individual retirement account to a ROTH IRA, now might be a good time to convert, as taxes should be smaller because of market decline. What's advantage of converting to a ROTH IRA? Once retired, all money withdrawn from ROTH will be tax-free.

7. Spend some time assessing your investment portfolio. What is your risk tolerance? Are you willing to exchange higher returns for greater fluctuations? If you do decide to sell off part of your holdings because it is no longer appropriate for you, do so because you have a good reason, not because market is down.

Timing market and chasing after hot stocks seldom works. Most people end up buying high and selling low with this thought process. Once again, think long-term and your successes will be greater.

Remember, many people may be selling now, but for every share sold, someone is buying. So who's smarter, ones buying or ones selling?

You decide!

4. Feel comfortable with your investment decisions. If risk in your investments keeps you from sleeping at night, they aren't worth it. Life is too short.

5. Keep good records and check your statements each time you receive them. Always question anything that doesn't look right or that you don't understand. Read Prospectus thoroughly before investing, do your research and understand how fund works and all applicable expenses.

Investing, if done properly is a key to your future wealth. So don't forget to include these tips when you invest and watch your success.