ROSENBERG: Take A Deep Breath And Remember The Most Important Thing For Building Wealth

However, if you have a longer window for saving, holding off on the panic might be a good idea.

While things are hectic at the moment, and even if a major correction is in progress, in the long run, it's extremely likely that stocks will eventually recover and keep gaining value.

Consistent, steady, calm investing, without worrying about trying to figure out market tops and bottoms, is often a winning strategy.

Gluskin Sheff chief strategist David Rosenberg had similar comments in a note on Tuesday:

Rosenberg continues by giving examples of market fluctuations that, at the time, looked like disastrous collapses, but in hindsight were temporary fluctuations. He points out that the Dow dropped 7% early this year, but that investors who continued holding stocks still saw gains this year.

If you're investing for the long-run, it's important to keep a long-run view, and not overreact to every bump in the road.