A bear market history lesson

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NEW YORK (CNNMoney.com) -- It's easy to feel panicked in this kind of market. But history holds some valuable lessons. Here's some perspective.

Times are tough, but they're not uncommon. Since 1929, there have been 16 bear markets - including the one we're in.

A bear market is defined as major stock index drop of 20% or more during a one-year period

Here are some more facts about bear markets: they generally last about 15 months and the average decline on the S&P is usually 33.5% according to InvesTech.

This bear market was declared in July - and so far in this bear market, we're down almost 31%.

According to James Stack of InvesTech, the reason we typically go into bear markets is because the Fed raises rates.

And how do we know when we're getting out of a bear market? It's when things seem the bleakest. So, some investors say the bottom could be near.

So, when everyone sells, that's what investors want to do. They see the market drop 800 points and they imagine themselves in the worst-case scenario.

To combat this, you need to recognize that you are worried and anxious - and pinpoint where these emotions are coming from.

Many people may say that they are afraid of feeling embarrassed or ashamed if they have to rely on their children for money.

Once you pinpoint your emotions, Shull says this process alone will help you feel less emotional about what's going on.

If you have to, take a walk. Get away from the tick-tock of bad news.