Historically, investing in real estate during bear markets can yield some real bargains for those who can afford it. Since lenders are understandably skittish when the economy is less stable, financing property becomes much more difficult. Would-be investors who hope to take advantage of falling home prices need to have enough cash to reassure the bank that its loan will be money well-spent.

All that glitters
Gold is kind of like comfort food -- something we latch onto whenever we feel threatened. It's the meatloaf and mashed potatoes of finance.

During political upheaval, wars, civil unrest and even when interest rates aren't returning much on investments, investors have seen gold as a safe haven. Comparing gold and stocks in the American markets, stocks have done very well against gold, but gold remains an investor favorite. Parker characterizes gold as a generally good investment. Gold (and silver, for that matter) back up Parker's assertion with a solid performance when weighed against stocks in the first few weeks of 2008.

CFP Jacoby says the weak dollar has boosted gold, which sold at historic highs at the beginning of 2008, then began a correction in early February as the Fed cut the benchmark lending rate. However, whether gold rises or falls, investors are historically drawn to it.

"People stand by gold," Jacoby says.  

Foreign investments may not be for everyone
Thinking of jumping into international waters when home waters are troubled? Lots of people have. William Gamble, principal of Emerging Market Strategies, says unless you know what you're doing, you should hold that thought or you might end up taking a bath.

Gamble, who writes frequently about foreign market strategies and helps clients manage risk in international markets, says that often one of the first reactions investors have when their own economy starts wobbling is to sink their money into another one. He reminds investors that there's more at play than simply finding what appears to be an attractive investment. Investors have to understand the political and economic situations behind the market to make it work for them.

Gamble points to countries where free speech may be limited and many businesses are controlled by the state. He says it's within the best interests of the government to prevent economic problems from being publicized. So trolling for a good return on investments in China, for example, may not be such a smart move.

"India, China, Russia -- they are all going to have enormous (economic) problems," he says.

Gamble predicts recession will strike all three countries, with double-digit inflation in many parts of Latin America and Asia. That doesn't mean there are no good buys in emerging markets, just that the average investor isn't going to find them without professional assistance.