My dad is my financial advisor. He’s a smart fellow, so I tend to take his fiscal suggestions to heart. Case in point: the stock market.  After listening to my dad harp for almost two years about the benefit of investing, I finally decided to take the plunge, literally one week before the economy started to tank.

Even though I’m the type of girl who appreciates a well timed “told ya so,” I was too concerned with the future of my funds to gloat. I’d known all along that investing was risky, and, not being a gambling gal myself, I’d only put in about $400. I decided that even if I lost it all, it was a loss I could stomach and move on. So despite the fact that my brand-new baby portfolio was hemorrhaging money like a blunt trauma victim, I had to acknowledge that I wasn’t really ruined.

And I knew it wasn’t really my dad’s fault either. We’re living in the worst economic time of our lifetimes (including our parents’ lifetimes), and the old rules don’t really apply. One thing I have learned is that no matter how wise your dad is, it’s good for everyone to have some basic knowledge about personal finance.

Fortunately, scores of investment advising websites are chock full of tips for navigating the market. Chris Hill, media and communications director of The Motley Fool, a multimedia financial-services company dedicated to helping people take control of their financial lives, says that despite the tumultuous nature of investments today, there has never been a better time to invest.

“There’s greater transparency for public companies and more free information online than any other time,” Hill says. “Any stock that you’re thinking about buying, you’ll be able to find analysis.”

Motley Fool has a rating system (caps.fool.com) offered by various analysts. There’s even a rating system for the people doing the stock ratings so users can be sure they’re getting the best information.

Since the market can slip from promising to distressing very unexpectedly, Hill recommends a more hands-off approach to monitoring a portfolio. Hill recommends resisting the morbid curiosity of watching the numbers plunge and checking in on a quarterly basis. Your nerves will thank you.

“Lately it seems like it’s a great move to turn off your computer and not look,” Hill says. “Since you can check [your stocks] online every five minutes if you want, it’s easy to get caught up in the activity in both directions.”

Another tip to soothe anxiety is acknowledging that this is truly an extreme time for finances. “People in the future will talk about the end of 2008 with regards to the stock market. That’s how crazy things are,” says Hill. Rather than cutting and running, try to figure out if you really have a good reason to sell. “At the Motley Fool, we try and sell only under a few conditions. The first is if you need the money. The second is if something has fundamentally changed about the stock you own, not just for a random plunge.”

If you’re still clinging to your change, consider this: a shaky economy can work for you. Businesses feel the strain just as much as their consumers, and this leads to some hefty bonuses for you. “I don’t think we need to wait until January to see that this is going to be a bad Christmas for retailers,” Hill says. This means even the loftiest of retailers are going to be willing to make a deal. “Look at Tiffany’s. For the first time ever, they’re offering a promotion for free shipping. This is the first time in history.”

The important thing is not to panic. So don’t let uncertain times stop you from looking forward. When things start to level out, you’ll be glad you did. “It will get better. It always does,” Hill says. “It’s not going to happen right away, but for investors who have the time horizon, they’re going to be just fine.”