It's the right time to purchase stocks at discounted prices, according to an advisor. Here are some important things to consider.

• Experts advise against deviating from your retirement objectives during a market decline caused by a sell-off, as it may induce fears.
• "Winnie Sun, co-founder and managing director of Sun Group Wealth Partners in Irvine, California, stated that today's purchase comes at a discount. According to Sun, it is more advantageous to buy items on sale rather than at their full price."

Winnie Sun, co-founder and managing director of Sun Group Wealth Partners in Irvine, California, stated that as you enter a large grocery store, everything is significantly marked down.

""What items would you purchase for your household's future needs, such as paper towels or toilet paper?" she inquired."

When the stock market experiences a pullback, like it did on Monday, it's wise to adopt a similar mindset, advised Sun, a member of the CNBC Financial Advisor Council. Instead of panicking, consider adding positions to your portfolio that you believe will perform well in the long run.

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Since the start of the week, the Dow Jones Industrial Average, Nasdaq Composite, and S&P 500 all experienced significant declines. The Dow and S&P 500 recorded their largest daily losses since September 2022.

"When the stock market declines, it presents excellent chances to invest in top-notch companies or a portfolio you've always desired," she stated.

"Sun advised that it's more advantageous to purchase items during sales rather than paying the full price."

'The biggest mistake' to avoid

Experts advise that while market fluctuations may cause anxiety among investors, it is crucial to remain committed to your retirement objectives by continuing to invest and making timely contributions.

It is not advisable to stop contributing to your retirement funds, especially during market volatility, according to Clifford Cornell, a certified financial planner and associate financial advisor at Bone Fide Wealth in New York City.

Cornell stated that markets always recover, providing solace.

On Tuesday, the Dow, Nasdaq, and S&P all experienced gains, with the Dow rising 1.45%, the Nasdaq increasing by 1.84%, and the S&P climbing 1.83%.

According to CFP Stacy Francis, president and CEO of Francis Financial in New York City, the biggest mistake individuals make is selling off their assets during market downturns.

Francis, a CNBC FA Council member, said they would miss out on the wonderful rally we're seeing today.

Over the 19-year period from January 1, 2003 to December 31, 2022, seven of the market's top 10 days occurred within two weeks of its worst 10 days.

The presidential election is likely to cause market volatility, as Francis warned.

"Although you can't control the market, your long-term success will depend on how you react to it."