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Investing in 2021: Tips from a pro

The new year brings new challenges and opportunities when it comes to your money.

MOOSIC, Pa. — Making your money work for you in the new year — investors say it something everyone needs to be thinking about right now, especially those who have lost work during this pandemic.

“If you are in a circumstance where you have been furloughed, or you’re out of work or your hours have been cut back, there are several suggestions. If you have savings in your savings accounts, because the interest in savings accounts is really, really low, so I would start there. The second step might be your home. If you have equity, because interest rates are so low, borrowing against equity is fantastic right now because rates are so low. You can tap in there and pay it back if you can. Over time, you might not need to," said Mark Williams, CEO of Brokers International.

Williams said something else to consider in 2021: changes in taxes and pay.

President-elect Joe Biden has talked about making changes, and Williams believed it is important to keep that in mind.

“If taxes go up for all lot us, that means less take-home pay, so that’s a concern. Fluctuations in marketplaces, changes in administration always create fluctuation in the market, and of course, the tax implications, some of those rules might change, and then qualifications in your 401K, those rules might change.”

Williams said understanding all these financial changes can be really confusing, and getting pro advice is always a good idea.

“Oftentimes, people attempt to do things on their own, and getting really good financial advice today, might make sense today.”