"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."
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.
Read at 24/7 Wall St.
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