Over your career, you've likely saved up money through a 401(k) plan. The last thing you want is for that hard-earned money to disappear due to market volatility.

Corrections in the market typically occur every decade in which stocks decline at least 10% from their current peak, and they can last for several months. Market crashes aren't as common as corrections, but they're more severe and abrupt. Preparing for market volatility can protect your retirement savings. Try the following strategies:

Rebalance your portfolio. When you rebalance your portfolio, you're shifting how much money you have in different assets. The idea is that some investments fare better than others over time, so changing the amount of money in various assets can reduce your risk of losing money.

Diversify your funds. Having a portfolio with bonds and stocks can help preserve your principal and counterbalance inflation.

Use cash reserves. Most financial planners recommend that retirees have enough in cash equivalents to cover three to five years of living expenses. Having cash reserves mitigates the potential of losing money.

By its nature, the stock market ebbs and flows. Smart investors know it takes a disciplined approach to protect their money from potential crashes. For assistance in protecting your 401(k), reach out to a financial advisor.

Sources: Investopedia.com, Kiplinger.com, Smartasset.com