A Reddit user, aged 55, is contemplating borrowing against his investments to finance his children's college education, estimated at $500,000. Currently, he holds $4 million in assets, including $2 million in retirement accounts and $1 million in stocks. While some suggest taking a loan to avoid capital gains taxes, many commentors on Reddit warn that this decision may undermine his goal of accumulating $6 million for early retirement. With only $4 million currently, the user's financial future faces uncertainty if he pursues this course.
Many Redditors expressed concern over the user's plan to borrow against his investment to fund college, suggesting it could jeopardize his goal to retire early.
The user aims for $6 million by retirement but at 55, with $4 million in assets, the loan for education might derail his financial independence.
Collection
[
|
...
]