Conventional financial wisdom: Young people should invest 80 percent in stocks and 20 percent in bonds because they're in it for the long haul.
Instead: Consider 50-50 stocks and bonds.
Why: "In volatile markets, you need to have enough cash to take advantage of the volatility," Delessert says. That means you'll want to have cash on hand to buy more stocks if the markets continue to go down, she says. "Currently, this extraordinary volatility is presenting opportunities. A tactical approach may be more beneficial than an 'invest for the long term approach.'"