As the new year begins, our firm believes it is beneficial to take the time to look back at the past and toward the future to successfully prepare your investment portfolio for 2021. While it is impossible to perfectly predict the future, Terry Sawchuk, the founder and chairman of Sawchuk Wealth, took the time to analyze and explain some of the important takeaways from 2020 and what investors may expect to see in 2021. Specifically, Sawchuk discussed:
- How 2020 demonstrated the biggest rise in unemployment rates in modern history
- The global central banks’ ability to jump in and help recovery throughout the COVID-19 pandemic
- The importance of separating politics from investing following the 2020 election results
- How the media’s change of tone, the change in WHO testing standards and the delivery of vaccines will help motivate the economy to begin a return to normal
- The potential for added stimulus that can help boost economic growth
- The possible delay in President Biden’s tax hikes to 2022 due to the pandemic
- How the pandemic aided the improvement in productivity and efficiency through technology
- Why 2021’s economy may see benefits from the massive pent-up demand for goods and services
- Valuations in Europe and in emerging markets
- Why investors will continue to experience weakness in the U.S. dollar and its potential long-term impact
Overall, despite the current environment and recent discourse related to the election, we believe the backdrop looks favorable for investors in 2021. We will continue to monitor events, policies and sentiments as we continue to move onward and upward through the year. If you have any questions or comments, please do not hesitate to contact us at (248) 269-9700.
Any information discussed in this article is for educational purposes only. It is not meant to be any kind of recommendation or financial advice. The information contained in this video is intended for informational purposes only. Any opinions are those of Terry Sawchuk and not necessarily those of JW Cole Financial, Inc. or JW Cole Advisors, Inc.
Securities offered through J.W. Cole Financial, Inc. (JWC) Member FINRA/SIPC. Advisory services offered through J.W. Cole Advisors, Inc. (JWCA). Sawchuk Wealth and JWC/JWCA are unaffiliated entities.