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Can A Financial Advisor Help with Debt?

Are you drowning in debt and not sure what qualified professional you should turn to? Debt is one of the largest stressors in life and can hinder you from taking the next steps in life, whether that is buying a home or entering retirement. You may already have a financial advisor or are thinking about hiring an experienced advisor; however, your biggest question is, will a financial advisor be able to help with your debt?

The short answer is….no, a financial advisor is not a professional that will be able to analyze your debts and determine which debts can be consolidated and which debts can be eliminated. The professional who would best be able to help you set up a plan to alleviate your debts is a debt advisor, however, a financial advisor will be able to help you with debt in a different way. 

A financial advisor will be able to work together with a debt advisor to help you with certain financial guidance to help you manage your debt. Usually, a financial advisor will help you with a financial plan to ensure you have enough money for retirement or to have the extra money in your pocket to afford your desired luxuries. A financial advisor will generally review your current financial situation to help you set up your future finances, they will not be able to help you annihilate your debt. 

So why utilize a financial advisor if they are not able to get you out of debt? Even though hiring a financial advisor will not help get you out of debt the same as a debt advisor, they can work with the debt advisor you hire to provide assistance and insight in another way. One of the specialties of financial advisors is that they excel at creating budgets. An advisor will look over all of your current finances, including your history, and they will work with you to develop a long-term budget to keep you on track and grow your money while eliminating your debt.

Though they cannot advise you on debt elimination or consolidation, as stated above, an experienced financial advisor will have the ability to work review your current debt and evaluate their interest rates, minimum monthly payments, and other factors. Now, depending on your debt situation you may need to take extra steps with creditors, with your advisor speaking with creditors to renegotiate your current payment terms for terms that are more favorable.  

After looking over your current numbers, a financial advisor will be one of the best professionals to help you create a more effective repayment plan in order to eradicate your debt in a much faster and more efficient way. After your financial advisor guides you and helps get you on the right track to manage your debt and relieve that constant stress from your life. Not only will your financial advisor help to get your debt under control, but they will then work with you to devise a long-term financial plan. This plan will be designed to help keep you from falling into debt again as well as working on reaching your financial goals.

Ultimately, a financial advisor is a great resource that will provide in-depth financial knowledge to help dig you out of your hole of debt that is causing you sleepless nights. An advisor will even be able to offer one of their most valuable services of financial planning to hold you financially accountable and prevent you from falling back into your debt. Having a financial advisor will give you the ability to have a better understanding and control of your finances, which will encourage better financial habits and provide financial success for your present and future.



Published by Sage Investment Advisers, LLC in Poughkeepsie, NY

Another Successful Campaign with St. Jude

30 Apr, 2024
Sage Investment Advisers, LLC is pleased to announce another successful partnership with St. Jude in support of childhood cancer research. Through our joint efforts, we exceeded our fundraising target, providing essential support for the children and families affected by this important cause. From February 14th to April 1, 2024, Sage Investment Advisers, LLC initiated our annual campaign in collaboration with St. Jude. Our President, Jerry Schuder, conveyed, “At Sage Investment Advisers, LLC, we wish to extend our heartfelt appreciation to our friends, family, and clients for their invaluable contributions towards our St. Jude campaign. Initially set at $20,000.00, our fundraising goal for Valentine’s Day was surpassed by exceeding expectations with a total collection of $24,000.00. We feel privileged to provide these children with hope and are sincerely thankful for the unwavering assistance and encouragement received. We deeply appreciate your support.” Subsequent to the remarkable achievement of our fundraising initiative, St. Jude’s acknowledged our firm's generous donation through a letter of appreciation. Senior Development Director, Caroline Spiraco, stated in the correspondence addressed to our organization. " I am writing with deep gratitude for the incredible generosity you have demonstrated in supporting St. Jude and the Sage Investment Advisers LLC Share the Love for St. Jude Valentine's Day Campaign. We were thrilled with the success of the campaign, and it is because of the generosity of donors like you that we were able to provide critical support to the hospital. Your goal was $20,000 and we were blown away by the success of your effort with over $24,000 raised and donated!" Sage Investment Advisers, LLC is pleased to have collaborated with St. Jude to raise funds for essential services for children battling cancer. Our contributions will ensure these young patients receive necessary treatment without burdening their families with crippling debt. By alleviating financial pressures, families can focus on their child's well-being, offering them a renewed hope for a healthier future. Located in Poughkeepsie, NY, Sage Investment Advisers, LLC is an independent financial advisory firm specializing in services such as retirement planning, Social Security Optimization, and other vital financial solutions to support your present and future financial needs.
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