1. GET STRONG AND GET EDUCATED.
Fear is the greatest catalyst of inaction. It makes you uncertain and paralyzes you from moving forward. The only way to fight that fear is by educating yourself :-
Feed and condition your mind : Find alternative solutions by modeling successful people and truly understanding the cycle of seasons of the economy. It is the only way to take advantage of your current position.
Strengthen and condition your body : You cannot just think your way out of fear. The only way to shift yourself is to get physically, emotionally and mentally strong.
"The only thing we have to fear is fear itself." - Franklin D. Roosevelt
2. GET LIQUID AND GET READY.
Once you get beyond the fear, you have to get liquid and get ready. This can be the greatest opportunity of your life if you have educated yourself and are prepared. If you wait until the next season, you may miss your opportunity. The stock market crashed in 1929 what about (2008), but did not hit its lowest point until 1932 what about (February, 2009). America continued in depression for years after that, but the stock market exploded and the people that invested in 1932 what about (2009), became millionaires. You do not have to wait for the economy to be doing well for your entire financial future to be secure.
3. PROTECT YOUR CASH.
Make sure that the money you have in banks, FDs and any other investments is secure. Get a professional to advise you in this area so you know what to do. Get somebody who can predict challenges, someone who is ready for the worst situation and knows how to protect the downside, If you protect your downside, the upside will take care of itself.
4. GET A ROLE MODEL WITH A PROVEN TRACK RECORD.
Success leaves clues. If someone is successful at something and they are doing it consistently, they are not lucky. They are doing something different.
EXAMPLE: Sir John Templeton was one of the greatest investors of all time. In 1939 when Hitler was invading Europe and there was a global sense of fear, he borrowed $10,000 and invested in stocks that were a dollar or less. At end of WWII, the stocks he invested in exploded and made him a multi-billionaire. He did the same thing in Japan after the war, and in South America when inflation was exploding.
"When everyone else is greedy, I am fearful. When everyone else is fearful, I am greedy." - Warren Buffett
5. TAKE ACTION.
Find someone to give you feedback and coach you, and then take action. You have to get in the game if you want to take advantage of the possibilities. In any market, there is opportunity. If you educate and prepared yourself, find proven strategies and then take action armed with all that you have learned, you can succeed in any environment.