Admit it, Charlotte: Even Banktown residents need financial planning help
Charlotte is the second largest banking center in the country, home to big banks and high-stakes finance professionals.
Still, despite its "Banktown" nickname, Charlotte financial adviser Eric Little sees plenty of people who are uncomfortable with even the thought of managing their money.
That’s not surprising. A majority of Americans say they aren’t fully confident about handling their personal finances, the National Foundation for Credit Counseling found last month in a nationwide online poll. More than 60 percent of respondents told the financial counseling group they have a way to go before being financially confident, and one in four respondents said they wished they didn’t have to deal with finances at all.
What’s a non-number cruncher to do in Charlotte? Enlist the help of an area financial planner, even if your goal is just to get started on the path to personal comfort with your finances. No matter where you're at in your life, you can use a hand from a professional to plan for children, college, mortgages, retirement, investments or insurance.
“Typically for individuals who need to get organized and understand their finances, we start off by doing a foundational financial plan,” says Little, a highly rated Charlotte accountant and financial planner.
Little’s foundational financial plan comprises four main areas:
- Debt analysis
- Emergency fund and cash flow
- Protection planning
- Asset accumulation/Investment planning for retirement
“We like to keep things easy and organized in the beginning,” says Little, whose fees start at less than $200.
To that end, he walks clients through basics such as their cash flow — income and expenses — and their personal balance sheet — assets and liabilities. He also provides customers with online tools to help them manage and monitor their money and investments.
Who knows? You might someday talk like an uptown executive from Wells Fargo.