The current bear market has been one of the most tumultuous ever for the financial markets —and among the most difficult for investors.

But even the most severe bear markets turn around. Many investors may have made sensible adjustments in response to the crisis. As a result, however, their portfolios may no longer be aligned with their long-term goals. What’s more, their current holdings may not be the ones that will benefit when the market does begin to rise.

Will you be ready when this economy turns upward and markets begin to recover? Even if your portfolio has suffered losses as a result of recent volatility, a long-term view is critical to helping you achieve your goals. So a consistent, patient approach is important. Your financial professional can help you follow these basic principles:

Don’t try to

time the market

It may be tempting to move in and out of the market in search of fast gains or to avoid losses. But timing the market can have a big impact on opportunity lost if your assets are out of the market when it begins to move upward.

Keep investment goals in mind

At times like these, it is a good idea to revisit your goals to ensure that your asset allocation and investment strategy are correctly aligned.

Your financial advisor can help you define and categorize your short-, medium- and long-term goals and serve as a sounding board as you prioritize your goals and balance them to help meet your needs.

By helping you develop an investment strategy that focuses on what matters most, they can help you avoid making decisions based on short-term emotions.

Remember investing fundamentals

Balancing risk and return potential in your portfolio through asset allocation can be critical in this economic environment.

Your financial advisor can work with you to help you assess the amount of risk that is appropriate for you and help you apportion assets among the basic asset classes, such as cash, equities and fixed income securities.

Whether you seek optimal returns or to generate income from your portfolio, you can determine an overall asset allocation and also help you diversify your portfolio.

Diversify your

holdings

If your portfolio is properly diversified across and within asset classes, you may be able to take advantage of sectors and markets that are performing well, while protecting your portfolio from weaker performers.

For example, in the equity sector, many investors are turning to companies with a steady record of consistent or maintained dividend payouts or payments, such as companies that focus on consumer staples like health care and telecommunications.

While these types of stocks may help mitigate risk and volatility, fixed income securities, particularly those of high credit quality, may help to provide stability and diversification.

Are we on the verge of a recovery? Maybe not right away. But investors will want to be ready when the trends turn upward.

Kevin Shimmel is a Roseville resident and an associate vice president, financial advisor and chartered financial consultant for Morgan Stanley Smith Barney. He can be reached at 484-5303.