With the news of inflation and market volatility on every media outlet, it can be tough to quiet our worries when we see our investments and 401(k) accounts showing losses. Remembering that the economy has gone through cycles throughout time can help us stay the course and keep us from overreacting.

Investments have historically responded positively over the long term, despite any short-term dips, as they react to external events and other market forces. By contrast, many so-called “experts” have made market predictions over the years that have not stood the test of time nearly as well.

During times of flux, it's important to resist trying to predict where the market is going—but you can organize some of your concerns to give you peace of mind that weathers any economy. For example, evaluate your savings for easy access to cash in case you encounter a short-term emergency. And make sure your will and life insurance are up to date. These two financial puzzle pieces should be in place regardless of what the market is doing.

If you need support or financial advice, Transocean offers some great resources:

• Take advantage of Fidelity’s financial advisor services, which give you access to a licensed financial professional who can provide guidance to manage and invest your 401(k) savings. Go to Fidelity’s NetBenefits site to schedule an appointment.
• Contact the Employee Assistance Program, which also has financial experts on staff to help you navigate many financial issues. There’s no charge for your initial consultation, and your communications and information are completely confidential. To find out more, go to https://www.liveandworkwell.com (access code: RIG).