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Full Episode
Brought to you by the EveryDollar app. Start budgeting for free today. Live from the headquarters of Ramsey Solutions, it's the Ramsey Show, where we help people build wealth, do work, that they love and create actual amazing relationships. Jade Walsh, our number one best-selling author. Ramsey Personality is my co-host today. Thank you for joining us. It is a free call.
Nathaniel is in New York City. Hi, Nathaniel. Welcome to The Ramsey Show. Hi there. Super happy to be here.
Glad to have you. How can we help? Good. Let me try to be brief. So I'm 26 years old. I'm a law student, got no debt, got a job lined up at a big corporate law firm once I graduate. And actually, doing better than that, a few years ago, I inherited about a million dollars. Wow. Nice. Yeah. This inheritance, to me, it's like I treat it like a sacred gift from God.
And I feel like I have a responsibility to be a really excellent steward of it. So I'm very safe. Principal protection investment strategy for this money. It's in a trust account. Only I control it. I got a financial advisor on it. Feeling good about that. Good. Thing one. Thing two, I'm getting married in a few months. I've been dating my now fiance for almost four years.
She's the youngest of many siblings. She has no assets or liabilities of her own, virtually no income potential. She's a pianist, but we're actually happy about this arrangement. She wants to be a mom. I'll be a breadwinner. This seems good. My question is about my future in-laws. So her parents are retired. They actually live in China.
And they lost a lot of money by mortgaging their fully paid for apartment for leverage in a risky investment, which of course failed. And there's something like $25,000 in the hole. So I guess, my question is I'm thinking about how, how I should manage this. Um, like what's the right thing to do here?
These are the, my future in-laws, like on the one hand, their family, I could pay off their debt, like literally 40 times over. Uh, what I'd be a jerk not to run the other hand, Part of me doesn't really feel like using my money, soon to be our money, to help people who in retirement mortgages are only safe asset for leverage in a single risky investment.
Are they asking you for help?
No, I'm just thinking ahead. In fact, my fiance doesn't actually know about the full extent of my wealth, and I haven't really been sure how to explain this to her.
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