Start saving now and your future self will thank you, financial planner says

ATLANTA — Many people across Georgia and the country are struggling to stay afloat and pay bills during the pandemic.

For some, thoughts of planning for the future, like retirement, can be a far-off concept. But it shouldn’t be.

Channel 2 Anchor Wendy Corona talked to a financial planner who said the sacrifices that people make today will be worth it years from now.

“Some people are just trying to get by,” certified financial planner Derrick Murray said. “What I try to do is really lead with education, and lead my clients (to) start somewhere.”

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Murray said that just getting started is the hardest part, especially for minorities who may not have been taught financial literacy as children. Murray said that wasn’t around him as a kid growing up in southeast Atlanta, but he quickly got curious.

“I certainly think it’s cultural, and one thing we cannot ignore is the racial wealth gap that we have in this country,” Murray said.

Now, Murray is dedicated to helping minorities and their children create a habit of systemic savings.

“Whether it’s 5%, getting to 10%, getting closer to that goal of 20% or more,” Murray said.

Johann Reckley is planning for retirement. Six years ago, he sought help planning for his future. The father of four knew he needed to step up his saving for his family’s sake.

“You have to start somewhere and you have to build upon that,” Reckley said. “Like my momma said, ‘We’re not getting any younger.’ We need to think about the future.”

Reckley sees now that what he was doing was not enough for the long haul.

“People are living to be much older these days, and so you want to make sure you have enough money,” Reckley said.

Reckley is now teaching his kids to start saving and investing now.

The thing that Murray emphasized was to start where you’re at, and get to the point of saving 20 cents of every dollar you earn. Murray said to take it in steps and your future self will thank you for it.

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