A reader (27 year old network engineer) wrote in to me asking me if I can advice him regarding some wealth building queries but also surrounding some advice on steps to take to help out a family debt situation. The topic is challenging in a few ways. I felt that asking me is probably not the right person to ask since I didn’t have first hand experience in clearing an astronomical large loan amount ( I have a feeling the actual family loan is larger than the title figure).
In my life I had 2 loans, a $15,000 student loan from my parents and taking over what was a $50,000 housing mortgage which I paid in cash. I guess a sum that will put me down could possibly be $100,000 when I started working at age 24, but guess that didn’t happen.
I doubt its my practice to give step ......