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We have seen a lot of very lurid headlines about £billions being wiped off the stockmarket, of panic in the City and, make no mistake, there will be a lot more of these headlines to come.
Whatever you do do not, under any circumstances, make any rash decisions with any investments that you have. You will risk locking in any losses.
The people who lose out, lose the wider perspective and panic.
Right now the City boys and gals are reacting to events, events that will pass. For them day to day price movements are important. For the normal consumer the longer term is more important, not day to day, or week to week, prices.
One little story from a previous market panic goes back to just before the start of Gulf War 2. As a result of seeing her investments tumble a lady encashed her Stocks and Shares ISA and switched her pension to cash. It was the bottom of the market. She came to me two years later for advice as she was approaching retirement. I estimated that the pension she had, worth about £30,000, would have been worth by then well over £50,000 if she had not switched to cash when she did. It would have been a similar story with her ISAs. Do not let that kind of thing happen to you. If you are within a year or two or retirement or the point you need the money then get advice.
Whatever you do just stay calm. If you are worried or have specific concerns about your investments or timescales then you need to speak to an appropriate adviser, preferably one who you pay and does not depend on generating commission. The difference is not only one of how they are paid there are also issues of experience and qualifications, because of the nature of fees the adviser who requires a fee to be paid is more likely to be worth that fee...
Of course you could just come to me... but it is not my intention with this to tout for business, just offer a bit of reassurance and generic advice at a difficult time.
For those who are brave, this is a buying opportunity - but for that you really must get good fee based advice.