Market pullbacks and declines in consumer confidence haven't much stymied investors' bullishness. A record amount of money poured into mutual funds during 2000, despite the year being the worst in two decades for major indexes.

        According to the Investment Company Institute, investors put $309.34 billion into stock funds for all of 2000, compared with $187.67 billion in 1999. The previous record for annual cash flow was $227.1 billion in 1997.

        Such moves might signal that investors are listening to the experts' advice after all.

        “Don't throw in the towel,” said Rosemary Haddad, senior financial consultant with Merrill Lynch in Symmes Township.

        Chris Wloszczyna, ICI spokesman, said surveys have shown that it takes major events in long-term investors' lives to stop them from continuing to put money aside. Most investors are saving for retirement or college educa tions, he said.

        “Even though we're going through a slowing down, we're going to be OK,” said Barbara Reid, a retiree who lives in Milford Township, Butler County. “My buying and investment habits have not been affected.”

        Still, sticker shock from recent utility bills, coupled with disappointing 401(k) statements, may have left some investors this week wondering what to do next.

        Perrin Burse, chief executive officer of Burse Advisory Group, said some investors' fears have led them to want to bail out.

        “We as consumers do the wrong thing at the wrong time,” he said. “The market is so psychological.”

        And so Mr. Burse, Mr. Wloszczyna and Ms. Haddad offer the following advice:

        • Stay invested. You could sell for a loss if you get out now. Plus, the market's expected to regain some strength. “You've got to be in the market or you won't be there for the move,” Ms. Haddad said.

        • Pay yourself first. If money is tight, make investments a priority in the budget and cut back in other areas, Mr. Wloszczyna said.

        • Consider increasing contributions. “You'll get great bargains right now,” Mr. Burse said. And if you're eligible, you'll be thankful for the extra tax breaks.

        • Stay disciplined. If you're well-diversified now, don't change. If you're underdiversified, consider setting things right. “Look through the hoopla,” Mr. Burse said. “Think long-term.”

        • Consult professionals. This ranges from hiring a financial planner to looking at mutual funds. Stock picking is difficult for individuals in this kind of finicky market. “This is where professionals earn their keep,” Mr. Burse said.

        Enquirer contributor Jenny Callison assisted in this report.

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