Local expert talks money for ‘America Saves Week’

JACKSON, Tenn. — We work hard to put cash in our wallet and money in the bank. So considering it’s America Saves Week, why not invest some time to learn how your money can work for you.

“Oh, I definitely think you can always learn more,” Jackson resident Tara Long said. “You don’t ever have enough education on money, as far as that goes, and I can definitely plan better for next year.”

Brad Little, a financial adviser at Voya Financial, says the first step is to determine what your objectives are and how long you have to reach them.

“Traditionally, what we’ll do with a customer or client is we’ll determine what their risk profile is or what their risk tolerance is, and normally that’s done through a series of 10 to 15 questions,” Little said.

Many West Tennesseans find investing intimidating. Many accounts will inevitably go up and down, but one of their biggest fears, says Little, is losing money.

“You’re going to use more diversified instruments such as ETFs, UITs, individual mutual funds, and those give you a lot of diversity and a little bit more protection so that you’re not going to lose everything,” Little said.

Little says you don’t need to be a CEO to invest in your future.

“We encourage our customers and our clients no matter their age, no matter how many years of service with an employer they have. None of that makes any difference,” Little said. “The key is to save something.”

It’s tax season, and some West Tennesseans are realizing they should have saved more money this year while others are leaving with a little extra cash they want to invest in the best way possible.

“Next year, I’m going to try to save better and plan a little farther ahead so that when I do get my taxes back it’s not already going to pretty much be accounted for,” Long said.

According to Little, one thing to remember when it comes to investing is that there’s no time like the present.

Little says, when choosing the individual or account that’s best for you, it’s all about finding somebody you trust and feel comfortable dealing with.