Meet Charlie Pastor | Owner and Chief Money Nerd at Damn Good Planning, LLC

We had the good fortune of connecting with Charlie Pastor and we’ve shared our conversation below.

Hi Charlie, is your business focused on helping the community? If so, how?
Let’s face it: The United States is suffering from a financial literacy crisis. Only 57% of adults in the U.S. are financially literate (S&P Global Financial Literacy Survey, 2014), and certain sociodemographic groups are facing even worse odds. Women are 10% less likely to be financially literate than men (S&P), younger Americans are 12% less likely than older Americans to be financial literate (Personal Finance Index Survey, 2020), and low-income Americans are only half as likely to be financially literate as high-income Americans (PF Index).

How did we get here? A possible explanation lies in the educational curriculum. A 2020 study by the Council for Economic Education found that less than half of U.S. states require students to take a course on personal finance. Quite literally, they don’t teach this stuff in school!

So where are Americans learning the basics of personal finances? According to a 2020 study by the U.S. Financial Literacy and Education Commission, about 40% of Americans turn to family and friends with personal finance questions. But not everyone has a strong support network. About 20% of Americans feel that they do not have anyone they can trust when it comes to asking personal finance questions, according to a recent NFEC study. When public education fails, those who can turn to family and friends do. Those who can’t are left behind.

Unfortunately, the state of personal financial education in the US today allows misinformation to proliferate. Without an educational baseline, money myths are difficult for many Americans to spot. Relying on family and friends who lack a formal financial education themselves means that money misunderstandings can become viral in nature. The value of a financial education is difficult to overstate, yet financial literacy resources are not available to many Americans.

Damn Good Planning, LLC is a Colorado-based, education-first financial planning firm. We believe that when young professionals are given the tools they need, we all succeed. Charlie Pastor, the owner and chief money nerd at DGP, offers free seminars covering a wide range of personal finance topics. Most recently, Charlie delivered a presentation on employee benefits to the Society of Women Engineers at Colorado State University, to help these future engineers objectively compare job offers.

Beyond live seminars, Damn Good Planning produces educational videos on TikTok and Instagram which reach thousands of young professionals. These short videos cover everything from basic economic theory to broadly applicable strategies for building financial health. Boiling down complicated topics into 60-second videos helps us make financial literacy both accessible and fun!

Personal finances are just that, personal. When it comes to piecing together the puzzle of your finances, DGP offers affordable advice. By embracing a flat subscription fee, you know exactly what you’re paying for every month. We want everyone who needs financial help to walk through our door, that’s why we don’t require asset minimums to get started.

Charlie and Damn Good Planning’s commitment to financial literacy takes the form of broadly available, free educational content and accessible personalized solutions for the young professionals who need it most. By working with our community, we can make the future Damn Good!

Alright, so for those in our community who might not be familiar with your business, can you tell us more?
Damn Good Planning, LLC is atypical in the financial services industry. Frequently, financial planners require an asset minimum to get in the door, providing expert advice to clients who already have a million bucks. DGP was based on the revolutionary, yet somewhat obvious, idea that financial advice should be provided to those at the start of their personal finance journey.

One of the most influential factors leading to future financial success is time. As such, it makes sense that young professionals, with decades until retirement, have incredible potential to reach their financial goals if they start early. By working with recent graduates to build strong financial habits, DGP hopes to encourage a generation of financially informed savers.

Building a business is difficult. Doubly so in an industry where things are typically done one way. By relying on mentors and staying true to the vision of community service, DGP has made financial literacy accessible and long-term financial success obtainable for many clients.

By focusing on education and the accessibility of financial resources, DGP’s focus is on more than just the bottom line. The connections which are built within our communities, among clients and non-clients alike, are deeply rewarding.

Let’s say your best friend was visiting the area and you wanted to show them the best time ever. Where would you take them? Give us a little itinerary – say it was a week long trip, where would you eat, drink, visit, hang out, etc.
I’m based in Broomfield, so the perfect itinerary would include Broomfield, Denver, and Boulder.

Broomfield is home to some of the best breweries around. Ranking at the top are Wonderland Brewing, where you can play a round of mini-golf, shoot some hoops or play classic arcade games. Rail’s End Brewing hosts fantastic live music a few nights a month and would be a must-see for anyone visiting.

Throughout my undergrad years in Boulder, I think I found some of the best restaurants around. Highest on that list is the Falafel King on Pearl Street. The owner is a first-generation immigrant with some good stories and who keeps you topped off with pita throughout your meal. If you haven’t stopped by, make it a priority.

As a local kid, I’ve been a Colorado Avalanche fan for years. Naturally, anyone I’m hosting would have to endure a game while they’re in town. With how strong our roster looks this year, it’s hard not to enjoy the skill that the Avs are bringing to Ball Arena!

The Shoutout series is all about recognizing that our success and where we are in life is at least somewhat thanks to the efforts, support, mentorship, love and encouragement of others. So is there someone that you want to dedicate your shoutout to?
I’d like to thank two of my mentors who guided me as I entered the industry and founded Damn Good Planning, LLC.

Harry Starn Jr., CFP® led the personal financial planning program at the University of Colorado at Boulder. His enthusiasm for personal finance encouraged me to go the extra mile as I neared the end of my time at CU. His program prepared me to pass the CFP® exam and to serve clients shortly after graduating. His students are very lucky to have him!

Raquel Hinman, CFP® was my mentor as I evaluated my options in the industry. A good mentor challenges you, and without her guidance the dream that was DGP never would have materialized.

Website: www.damngoodplanning.com

Instagram: https://www.instagram.com/damngood.planning/

Linkedin: https://www.linkedin.com/company/damngoodplanning

Facebook: https://www.facebook.com/damngoodplanning

Other: https://www.tiktok.com/@damngoodplanning