Financial advisor gives tips on setting yourself up for success financially in 2024

WILMINGTON, NC (WWAY) — “Well, we’ve had historic inflation, it’s been a real historic route.”

Many are working hard to stick to their resolutions for the New Year. Some want to go to gym, some want to eat healthier, and some want to fix their finances.

Stifel Independent Financial Advisor James Thornton said there is one thing everyone should be doing when it comes to your money.

“Well I would recommend making your IRA contribution. Always very key to contribute to your IRA, to be on a systematic investment program. It keeps you committed to that and you want to think about the long term and you know, have a very quality holdings that IRA,”

Thorton has more than 25 years experience and said there is one common mistake he often sees people making.

Deviating from their plans.

“If you have a financial plan, reviewed it with your advisor and you’ve adjusted it for life changes, you want to stick to that plan. It’s easy to deviate, you don’t want to do that. It’s going to be a noisy year I think in terms of headlines. So, don’t let them distract you. My advice is stick right with your plan,” Thornton explained.