CHARLOTTESVILLE, Va. (CBS19 NEWS) -- Traders are watching the stock market closely because the numbers for the S&P 500 signal the country may be entering a bear market.

The index has dipped at least 20 percent below its recent highs, and investors worry the Federal Reserve will be raising interest rates later this week.

This decline in the market is hitting people who have retirement plans and 401Ks on the stock market.

Kirsten Ashbaugh, a financial adviser at Wilkinson Wealth Management, says taking a look at the thing people can control may be an investor’s best option at this time.

Some of the things people can control to a certain extent,” she said. “Your income. A lot of people are changing jobs right now. So, if you are changing jobs, this may be a good time to maybe look at some salary negotiations or negotiations for other benefits.”

Other things to consider might be insurance plans, car payments and creating an overall budget.

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