I was on track to retire early, but I got saddled with debt and now I'm trying to figure out how to get back on track
Briefly

from 24/7 Wall St.3 weeks ago
Joe, a Reddit user with a substantial income of about $850,000 annually, finds himself in a precarious financial situation after taking a $1.2 million loan to remodel his $5 million home. With substantial monthly expenses and debts amounting to $33,000, he faces a shortfall, especially in lean years when his income dips. This dilemma prompts him to seek advice from the Reddit community, illustrating the complexities and risks that wealthy individuals can encounter when managing debt and maintaining a luxurious lifestyle.
With a $1.2 million loan and monthly expenses of $33,000, Joe's financial situation worsens, bringing him to seek advice on Reddit.
24/7 Wall St.https://247wallst.com/personal-finance/2025/02/14/i-was-on-track-to-retire-early-but-i-got-saddled-with-debt-and-now-im-trying-to-figure-out-how-to-get-back-on-track/
Even at his high income of $850,000, Joe faces significant pre-tax burdens and debt, striving to maintain a lifestyle that exceeds his income.
24/7 Wall St.https://247wallst.com/personal-finance/2025/02/14/i-was-on-track-to-retire-early-but-i-got-saddled-with-debt-and-now-im-trying-to-figure-out-how-to-get-back-on-track/
Read at 24/7 Wall St.
#financial-struggles #debt-management #wealthy-individuals #reddit-advice #financial-planning
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