Dividend-paying stocks protect your portfolio, Cramer said Friday, because they pay you to wait until the market calms and the economy improves.
Take Abbott Laboratories , for example. The Abbott Park, Ill.-based company manufactures and sells various health care products. Cramer likes its juicy 3.5 percent dividend yield.
Cramer also likes its plan to split into two separate companies in order to unlock value. So far, the market has ignored the plan because the combined business is too complicated for many money managers to understand.
"No matter what happens to our economy, no matter what the Europeans screw up next, Abbott could be a terrific a winner," Cramer said. "Both before and after the big split up that's coming your way."
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