Has anyone utilized a financial advisor to assist with planning how to tackle your loans? I am hesitant as I feel like they don't have your best interests in mind.  

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I personally never did. I don't feel like they can teach you anything you can't learn yourself. Plus, you have to pay for them and that money could go towards the loans themselves. I just watched a lot of financial videos and podcasts and took on a second job to pay off my loans.

Yeah, that's my feeling too. Like why am I paying someone to tell me what I already know? But I guess wondering if anyone has felt like they got a lot of value out of it

No. They will try to sell you insurance.

Yes, and disability (which most firms provide already). Most financial advisors aren't fiduciaries and make money by selling you products, which they spin as investments, and getting you to invest in high-commission funds where their cut comes off the top. For budgeting/regular investment advice, try the Bogleheads or biglaw investor dot com.

A few have reached out to me. I spoke to one. Now, we didn’t talk about the best path to pay off debt. We discussed how to best invest money. Their fees weren’t unreasonable, which is a single digit percentage for investments of $500k and the percentage fees goes down the more money you invest. They can also help with comparisons between investment projections regardless of type.

So financial advisors vary (i.e., wealth management)
But if what you’re looking for is help / advice on how to pay off debt, then I agree that you shouldn’t pay anyone to tell you that, which in a nutshell is to pay off high interest debt first and to pay as much as you can possibly give each month.

Thanks for sharing your experience

I am glad you asked this because I have wondered the same thing but I have always heard that it is not a good idea to get a finanical advisor to help with student loans.

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