A Student Inherited $1M And Calls It A 'Sacred Gift From God,' But Doesn't Want To Pay Off His Fiancée's Parents' $25,000 Debt In China

A 26-year-old law student from New York sparked debate on an episode of “The Ramsey Show” when he revealed that he inherited $1 million a few years ago, but is hesitant to help his fiancée’s parents with a $25,000 debt. He called in to speak with personal finance experts Dave Ramsey and Jade Warshaw, sharing details of his unusual situation. He’s Wealthy, Debt-Free And Getting Married “I’m a law student. Got no debt. Got a job lined up at a big corporate law firm once I graduate,” the caller, Nathaniel, said. “A few years ago, I inherited about a million dollars.” He added, “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.” Don't Miss: Bezos' Favorite Real Estate Platform Launches A Way To Ride The Ongoing Private Credit Boom Americans With a Financial Plan Can 4X Their Wealth — Get Your Personalized Plan from a CFP Pro Nathaniel explained that the money is in a trust account that only he controls, and he works with a financial adviser to protect the principal. He also said he lives modestly and doesn’t flaunt his wealth. “I live a lifestyle which doesn’t at all reflect that I have the pot of gold behind me.” He’s also engaged to a woman he’s been with for four years. She’s a pianist with no debts or assets and “virtually no income potential,” but Nathaniel said they are both happy with the arrangement. She wants to be a stay-at-home mom, and he plans to be the sole breadwinner. Future In-Laws Are In Debt Nathaniel’s concern, however, is about his future in-laws. His fiancée’s parents live in China and recently lost their retirement savings after mortgaging their paid-off apartment to invest in something risky, which failed. They’re now about $25,000 in the hole. “On the one hand, they’re family. I could pay off their debt like literally 40 times over. Would I be a jerk not to?” he asked. “But on 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, mortgage their only safe asset for leverage in a single risky investment.” Neither the in-laws nor his fiancée have asked for help. In fact, she doesn't even know he has the inheritance. Trending: $100k+ in investable assets? Match with a fiduciary advisor for free to learn how you can maximize your retirement and save on taxes – no cost, no obligation. Ramsey: Come Clean, Now “You don't go another day promising to marry somebody and you're keeping secrets from them,” Ramsey told him. “Unhealthy, dude, unhealthy.” Ramsey and Warshaw emphasized that hiding such a significant part of his life was a red flag. “If you have to deceive someone because you're worried about their authenticity, we don't marry them,” Ramsey said. Warshaw added, “Honestly, that's more on his authenticity than hers.” They urged Nathaniel to have an open conversation with his fiancée immediately. “You need to get on the phone. You guys need to sit down in the next 24 hours and talk about this,” Ramsey said. See Also: An EA Co-Founder Shapes This VC Backed Marketplace—Now You Can Invest in Gaming's Next Big Platform What About The $25K? As for the in-laws' debt, Ramsey said, “There’s not an ethical or legal, as you know, mandate that you take care of them, but it is a small amount of money compared to the amount of money you’re dealing with.” Still, he cautioned Nathaniel to make sure the financial mistake wasn’t part of a larger pattern. “You don't want to do that if they're going to turn around and do the same kind of stupid stuff again,” he said. Ramsey concluded by putting things in perspective: “Nine out of 10, Nathaniel needs to come clean. One out of 10, pay off the $25K or don't. That's how this weighs out.” Read Next: From Moxy Hotels to $12B in Real Estate — The Firm Behind NYC's Trendiest Properties Is Letting Individual Investors In. Image: Shutterstock