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In the past 70 years, the S&P 500 index has lost at least 10% of its value on 38 different occasions. So it’s inevitable that it’s going to happen again. But here’s the good news: The S&P 500 recovered from all 38 of those crashes.

While stock market corrections and short-term volatility spook a lot of investors, there’s no reason to live in fear of another stock market crash. Your investments can recover — and even emerge stronger — if you don’t run when stocks plunge. Here are five steps you can take to prepare.

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Image source: Getty Images

1. Do nothing

If you have a long time horizon and you can deal with the stress of seeing your investments nosedive in the short run, the best thing you can do is nothing. When people fear a crash, they often stop investing. Or they cash out or rebalance too conservatively. Any of these strategies is far more likely to hurt your long-term returns than a market crash. …

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