WILMINGTON, NC (WWAY) — It’s time to get started on those new year’s resolutions. Some are focused on eating well and exercising, others on making new friends or getting their dream job. But what about money resolutions?
If you’re looking to improve your financial well-being in 2019, one Wilmington financial adviser says there are some basic steps you can take to get started.
“The New Year always offers renewal, and a chance to kind of rethink where you are and where you want to go,” said Vinton Fountain.
Fountain has been doing financial services for 35 years, and started his own company in Wilmington 20 years ago. He helps people understand what steps they need to take to be financially secure.
“I like to call it a blueprint, which is kind of asking and answering the questions. If you looked, say five years or 10 years into the future, what would need to change between now and then to make you happy?” said Fountain.
Fountain says the combination of time and compounding interest can add up more than we think, so it’s better to start saving earlier in life.
“Avoid procrastinating. In our society, where so many things are coming at us all the time, it’s maybe easier to avoid making changes, doing some of the things that a thoughtful plan will provide,” he said.
Fountain says it may seem overwhelming, so start small and do your homework.
He also says a financial adviser can help you to answer questions about how to save your money.
“What are the tools that I need? Is it retirement accounts, is it tax strategies, is it something that I need to do to my will or my estate? What kind of resources are available? And then how do I actually move that plan forward,” said Fountain.
Fountain says even if you can only afford to put away small amounts of money in the beginning, always have something budgeted for yourself and your future.