AUGUSTA, Ga. - It's being called the largest bank failure in U.S. history.

Thursday the Federal Government took over Washington Mutual.

With a rocky economy many are wondering what to do with their money…especially their 401(k) plans.

"This is a very historic week," said Augusta State University Professor of Marketing Marsha Loda.

"It's my retirement and I as I get closer to my retirement I get concerned about the value of my account which has really gone down- especially within the past week,” said Barbara Coleman, another Augusta State University Marketing Professor.

One man told NBC Augusta he’s already lost $15,000. That has some investors shifting their money.

"I changed my 401(k) from high risk investments to complete money market accounts, said Charlie Swain.

Others are weathering the economic storm.

"Right now I'm looking at the long term so I'm leaving it right where it's at," said Robbie Peoples.

That's what the investment group Fidelity says you should do.

A spokesperson says to take a long-term view on retirement and don't base your actions on short-term market behavior.

Think of the market as a roller coaster. It's constantly going up and down.

Another tip…don't put all your eggs in one basket.

"I pulled out of the market a year and a half ago because I saw this coming and it's in CD's but I do have some 401(k), but I have it well diversified," said Loda.

Fidelity says by putting a little money here and a little money there…it can help you achieve your long-term retirement goals.

Experts also say, only take out your 401(k) money if it's extremely necessary.

They say if you take the money out, you have to pay a ten percent penalty and you'll also be taxed on the entire amount. That means, in some cases, you could lose 35 to 50 percent of your investment.