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AN investor should not sacrifice long-term goals for short-term events. As the saying goes: "Don't jump out of the frying pan and into the fire."It's not unusual for people to panic whenever there is a downturn in the stock market. But successful investors know that opportunities are created in times of crises. The stock market always rebounds from every turmoil, and it rewards the patient and persistent investor. Economic crises, precipitated by war or pandemics, have implications for pension fund management and investments in stocks and bonds in the short term. Now is not the time for investors in the stock market to withdraw from the market, as to do so at this time can prove costly. Losses in the stock market are unrealised and can only be realised when investors withdraw from the market during times of sudden stock market downturns.Recently, a client requested that her funds be withdrawn from the stock market as "there is a war" in the Ukraine. But history has taught us many lessons of stock market recovery during times of war and immediately after a war. It was English poet Lord Byron who said "the best prophet of the future is the past". Pre-retirees and pensioners should resist making impulsive decisions regarding their pension funds and investments at this time. Retirement planning is always ongoing, and now is as good a time as any to review financial plans. How is your appetite for risk? Investors need to bear in mind that unforeseen events will happen. Financial plans should have a mix of high- and low-risk instruments. The help of an experienced and competent financial advisor is important to guide investors, especially during periods of economic uncertainty.Most analysts forecast the Russia-Ukraine war as a short-term event as the war is not anticipated to spread to Western Europe. Therefore, minimal impact on the US stock markets and the economy is expected. A stock market rebound is, therefore, anticipated in the short term. Some experts even believe that the current war has brought about a stock market correction. This term refers to a condition where there is a decline in the stock market that is more than 10 per cent but less than 20 per cent. This situation occurs when a stock has fallen from its peak to its longer-term performance.Financial experts are not anticipating a bear market, which could see further decline in the stock market and economy. A bear market occurs when there is a decline of 20 per cent or more on the stock market.The attack by Russia on the Ukraine has seen global stocks stumbling and the price of crude oil has since surpassed the US$100 mark.In Jamaica, our local stock market has not returned to pre-COVID status. The Jamaica Stock Exchange main market declined by over 22 per cent in 2020 and increased by just 2 per cent in 2021. It is now time to buy assets that increase the purchasing power of your money. Keep investing, stay committed to your long-term goals, while maintaining your short-term and medium-term investments for emergencies and opportunities. Be always mindful that inflation is the biggest threat to the value of your money.The terrorist attack, termed "9/11", on US soil in 2001 negatively impacted global stock markets. Days following the attack, US stocks fell by 15 per cent.Stocks listed on US stock markets regained losses within months. The global financial crisis of 2008 sent shock waves to the financial markets of developing nations, like Jamaica. Inflation was at 16.8 per cent. Bank of Jamaica issued money market instruments to mop up liquidity. The local stock market suffered a decline.But by 2015 the Jamaica Stock Exchange was recognised internationally by Bloomberg as the best-performing stock exchange in the world. In 2018, Bloomberg again acknowledged the Jamaica Stock Exchange as the best-performing stock market globally. Many investors tend to appreciate the market when stocks are high. However, it is important to invest consistently during the good times and the bad times, as assets are accumulated at varying prices and the average cost of investing is reduced over time. The Law of Accumulation states that every great financial achievement is achieved by small efforts repeated over time that no one appreciates or even notices.Your habits either pull you closer to your goal or pull you away from your goal.Emotional decisions made during times of turmoil can pull you away from your long-term goals and derail your plan of financial freedom, wealth creation and peace of mind.- Grace G McLean is a financial advisor at BPM Financial Limited. Contact her gmclean@bpmfinancial. and visit the website: www.bpmfinancial.com. She is also a podcaster for Living Above Self. Email her at livingaboveself@gmail.com