Stocks posted their biggest decline of the year on Monday, though financial experts said average investors should take the sell-off in stride.

The huge market drop was triggered by the intensifying trade war between the U.S. and China. The Dow Jones Industrial Average closed down nearly 800 points, or close to 3 percent. The broader S&P 500 and tech-heavy Nasdaq also fell in the 3 to 4 percent range.  

Investors, however, should put the sell-off in perspective. Until Monday’s decline, the S&P 500 had been up 18 percent for the year.

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“If you don’t need that money in the next couple of years, you shouldn’t worry about this,” says Tom Fredrickson, a certified financial planner in Brooklyn, N.Y. “Anyone who has been in the market has already made a lot of money—look at how much the stock market has been up this year, and over the past 10 years. A couple of percent decline is just a blip.”

For those who worry about further declines, however, Fredrickson says there are steps you can take.

“If you do the need money, or you can’t sleep at night, you should rethink whether you need so much of your money in the stock market,” he says. “Then you may want to tap some of your gains and put more in bonds and cash.”

If you’re among this latter group, consider these five investment strategies. 

1. Review Your Asset Mix

Chances are you haven’t updated your portfolio allocations lately. Few 401(k) investors make any changes after signing up. But what was right for you in your 20s or 30s may be too aggressive in your 40s or 50s, when your investing time horizon is much shorter.

To figure out what mix works for you now, test your risk tolerance. Say stocks plunged 50 percent, similar to what happened in the 2008 to 2009 bear market. If you hold 70 percent of your portfolio in stocks and 30 percent in bonds, that move might erase one-third of your portfolio. Perhaps you muddled through without panicking in the last financial crisis, but would you be able to hang on now? If you’re married, how would your spouse feel about these losses?

For those who would rather not see a rerun of that scenario—in particular, older investors and retirees—you would do well to shift a portion of your stocks into bonds for a tamer asset mix, says William Bernstein, an investment adviser and author of “The Four Pillars of Investing” (McGraw-Hill Education, 2010). Instead of a 70/30 stock-and-bond mix, opt for a 60/40 or 50/50 allocation instead, which would limit your losses. By scaling out of stocks, you will also be locking in some of your profits.

Still, younger investors who have the tenacity to ride out market declines should hang on to a more stock-heavy mix, Bernstein says. Over the long term, equities are likely to outperform other assets. 

2. Rebalance Your Portfolio

Choosing an asset mix does no good if you don’t maintain it through rebalancing. According to the investment firm Vanguard, someone who started in 2012 with a 60/40 stock-and-bond mix and failed to rebalance would have a 76/24 mix today, as a result of the big gains in stocks and modest returns on bonds.

Though a sustained market decline could bring your portfolio closer to the original allocation, a better strategy is to rebalance, says Jim MacKay, a financial planner in Springfield, Mo. To do this, sell just enough of your winning investments and add that money to your laggards to bring your portfolio back to its original allocation or to the one that’s right for you today.

“Rebalancing is counterintuitive, since you are selling your best performers and buying your worst performers, which is hard for most people to do,” says Francis Kinniry, a principal in Vanguard’s Investment Strategy Group. “But if you rebalance once a year or so, you typically find you only need to make small tweaks, perhaps shifting 2 percent of your portfolio.”

An even simpler strategy is to opt for an all-in-one fund, such as a target-date retirement fund, that automatically rebalances for you across a wide range of assets.  

3. Diversify Overseas

“Most investors have on blinders and only buy domestic stocks and avoid foreign stocks,” says Rob Arnott, founder and chairman of the investment firm Research Affiliates.

The U.S. accounts for only about 53 percent of the global stock market. But unless you are enrolled in a target-date fund, you probably hold little foreign stock. Only one-fifth of 401(k) savers hold an international stock fund if one is offered in their plan, Vanguard data show.

Granted, foreign stocks tend to be riskier than U.S. equities, especially shares of companies based in emerging markets. But overseas stocks are an important source of diversification because they don’t move in lockstep with U.S. stocks. They often zig when Wall Street zags, which can reduce risk over the long term.

That’s why you should consider stashing a portion of your equity stake in overseas stocks. As a benchmark, for someone planning to retire in 20 years, a typical 2040 target-date retirement fund holds 30 percent or more of its stock allocation in foreign equities. 

4. Focus on High-Quality Bonds

Bonds remain an essential asset in your portfolio because they provide a cushion against the risk of stocks. 

Be sure to stick with high-quality bonds—those that hold investment-grade and government issues. Vanguard analysis shows that lately investors have been flocking to lower-credit-quality issues, such as junk or below-investment-grade bonds, which may pay higher yields. But the risks of those issues closely mirror those of stocks. If the economy slows, low-quality bond holdings may take a big hit, along with your stock portfolio, Kinniry says.  

5. Step Up Your Saving

Although you may not be able to earn hefty returns in the coming years, there’s one key factor you can control, Bernstein says: your savings rate. Boosting the amount you stash away means you will be less dependent on high returns to reach your financial goals. And you don’t have to take a lot of risk to get there.

To make sure you save more, automate your contributions, starting with your 401(k) plan, and try to put away the max, which is $18,500 in 2018. (Those 50 and older can put away an additional $6,000.) For IRA investors, the max is $5,500; those 50 and older can contribute an additional $1,000.

Can’t save that much? Hike your contribution rate another percentage point or 2 for now and aim to increase it more in the future. And if you get a raise or receive a windfall, stash some or all of the money away. That way, your portfolio will stay on track whatever the market does.