With the uncertainty created in the stock market due to the fiscal cliff, some investors might be wondering what to do with their money.
Late Tuesday night, Congress agreed to a deal that will see taxes raised for individuals making more than $400,000 a year and for families making more than $450,000. Financial experts are saying this deal just sets up another fiscal cliff two months from now when lawmakers address the federal debt ceiling. Locally, investors may want to wait and see how markets react before making big decisions.
"What I would tell folks is don't base your investments on what's playing out in the marketplace today, meaning don't panic either way. I wouldn't try and invest in the rollercoaster that we're going to experience over the next several months, but make sure that they have a long-term plan and that they stay with that plan," said Richard Tegge of Wealth Strategy Group.
Tegge also says that the market could perform very well in the short-term but become very volatile once the next fiscal cliff comes into focus.