Even as the stock market held Tuesday, people are still holding their breaths watching the financial world.

Financial experts in Western New York say the good news is that Monday's historic drop wasn't the largest percentage drop, and they say it is not indicative of a prolonged downturn, like in 2008.

While the drop was jarring, the markets are equalizing out.

Experts are urging everyone not to panic, and in fact, they say now might be a good time to increase contributions to 401ks and stock portfolios.

"It's often times like ripping a Band-Aid off and yes it stinks in the short term but once it's off and you're on your way, I think the same is true with the 401k investor. I'd be taking advantage of it, I'd be increasing contributions, buying more, not less," said Mike Lomas, Financial Guys LLC president.

They say now is also a good teaching moment to encourage people to make a financial plan that includes small changes.