United spent around £150m last summer on Aaron Wan-Bissaka, Harry Maguire and Daniel James.
However, they recouped roughly half of that, through the sale of Romelu Lukaku to Inter Milan.
As well as losing Lukaku, the likes of Ander Herrera, Marouane Fellaini, Antonio Valencia and Alexis Sanchez have all left the club since Solskjaer arrived.
“The money is there. We’ve been looking at players and we were close to a couple but it’s not right if you don’t get the right players. The money is there to strengthen in January and in the summer.
“We’re planning and we’re looking. We’re refining our targets, but just before the summer transfer window ended, the ready-made players weren’t there. But the resources are there if the right players are available.
“January is a difficult window, anyway. But if there are players available and at the right price, I’m sure we will spend. There might be some experienced players who can come in and help the younger players – that might be worth the money,” Solskjaer told reporters on Thursday.