With Wall Street in a tailspin, many Long Islanders are worried about their stock market investments and what the poor economy means for their future.

Experts say there are real strategies that work to save your nest egg, even in a down market.

"Ride out the wave, things will come back, the business cycle will repair itself," says Nassau Community College Economics Professor Roberta Schroder.

Schroder says the recovery is coming. She recommends not cashing out stocks, seeking a balanced portfolio by limiting risky investments, sticking to a budget and, if possible, eliminating debt.

But, if you're still nervous about staying in the market, financial planner Michael Kresh offers this compromise.

"If the market goes up from here, 10 percent, take some of that profit and put it aside in safe investments," Kresh says. "Therefore, you're not selling everything right now."

Kresh adds that other market strategies may depend on age. He says younger investors could try riskier, high-growth investments. However, for older investors, Kresh suggests fixed-rate investments, such as CDs, money market funds and treasury bills that pay between 2-3 percent a year.

As the markets get worse Kresh warns not to let fear be the primary motivator. He says don?t cash out of or stop making payroll contributions to 401(k) plans. Paying in at the bottom of the market means that when recovery arrives, employees? investments will pay off, Kresh says.

Schroder says staying employed is a much better plan than cashing in a 401(k).

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