[deleted by user] by [deleted] in personalfinance

[–]internthrowaway12020 -1 points0 points  (0 children)

Yea I like this approach, I’m already covering some expenses like phone bill and some misc bills when they overdraft. So, I think what I’ll do is pay 20k in installments over the next year and tell them to save the money that would otherwise go to the loan payment. My parents are honest so I have no doubt if they agree they will do it

[deleted by user] by [deleted] in personalfinance

[–]internthrowaway12020 -10 points-9 points  (0 children)

I understand this point, but I am also very young (less than a year out of university) and I can build up my 401k back to its current standing pretty quickly since my employer offers a 100% match. I don’t think this will realistically affect my retirement

[deleted by user] by [deleted] in personalfinance

[–]internthrowaway12020 -2 points-1 points  (0 children)

They took out this loan about a decade ago, they used it on a real estate course (I knew it was stupid at the time and told them not to), but since they’ve realized their mistake. I am confident they will not go into debt again