The credit crunch has caused many to panic. But a solid retirement account can be yours if you stay calm and make these safety moves.

• Leave your retirement account alone. Chances are, you’re already in diversified mutual funds that will moderate your losses, so don’t sell in fear, says Jane King, of Fairfield Financial Advisors in Wellesley, Mass. Rather, keep buying into today’s cheaper market by continuing your regular contributions.

• Lock in tax losses now. If you’re losing money on stocks outside of tax-protected retirement accounts, sell shares on bad days. You’ll be able to use those losses to cut your 2008 taxes. Don’t buy the same security back for at least 31 days, to protect that tax break.

• Use your cash to pay down expensive credit-card debt and build up an emergency fund. Stash that fund in an FDIC-insured bank money-market account.

• Look for opportunities. With all of Washington standing by to protect the economic system, you can bet on eventual recovery, even if there’s a recession to get through first. So use tough times to shop for a house, a cheaper mortgage, a good stock. When the cycle turns back up, you’ll be sitting on top of the world.