Hey everyone, I need to share my situation and get some advice. I’m 29, working full-time as a fireman, and also running a health and wellness coaching business that’s starting to pick up. Here’s the deal: I got into a mortgage brokerage job three years ago, moved to a startup, and was promised big things. Meanwhile, I was spending a lot, thinking my income would keep growing. In 2023, I made $145k but spent recklessly—traveling, upgrading my lifestyle, and running up credit card debt. Then my best friend passed away in a motorcycle accident, and a mentor I looked up to died of a heart attack. It hit me hard, and I left the mortgage business.
I’ve been stuck in unhealthy habits, chasing quick dopamine hits, and I started trading options again in early 2024. Initially, I was up $18k but ended up losing $22k. Trading turned into a vicious cycle—making some, losing more, and it’s left me physically and mentally drained. I’m at a point where I just want to turn things around but feel like I’ve dug a deep hole.
I own a duplex and live in one unit, but the debt has piled up because of my bad habits. I’ve even considered debt settlement programs but worry about my credit. I’m here for advice, especially from older folks who’ve been through tough times. Is it too late to rebuild at 29? How do I dig out of this and start fresh? Any tips are appreciated.
I was 44 when my ex left me with $100k in debt. Took me over four years to pay it off, but I made it. Sometimes you’ve got to start from scratch, shop at thrift stores, and focus on basics. You’ll get through this.
@Charlie
Thank you for sharing. I’m sorry you had to go through that, but your story is inspiring. I hope one day I’ll look back and connect the dots too. Really appreciate your encouragement.
Sorry for your losses—that’s a lot to handle. But you’re only 29, which is young. You’re in a solid profession, and your business is growing. Most people make financial mistakes because no one teaches us better. Things can turn around, trust me. Focus on your goals.
If your credit is still decent, consider a debt consolidation loan or a home equity loan. But first, stop trading and focus on reducing expenses. You could turn this around in a year or two.
Jesse said:
If your credit is still decent, consider a debt consolidation loan or a home equity loan. But first, stop trading and focus on reducing expenses. You could turn this around in a year or two.
My credit is slightly below average due to utilization. You’re right—I need to stop the bleeding and work toward progress. Thanks for the advice.
Your trading sounds more like gambling. The highs and lows you describe can be addictive and dangerous. I suggest stopping for now and focusing on stable ways to make money. You’re still young, and you have time to rebuild.
@Brady
You’re absolutely right. I started out disciplined but fell into the trap of chasing big wins. Thanks for being straightforward and encouraging. I’ll work on it.
Stick to essentials for now—food, housing, bills—and cut out all unnecessary expenses. Once your debts are gone, start saving and avoid running up credit cards again. It’s tough, but doable. Stay strong.
Bran said:
You sound smart and open to advice, which is a great start. Take care of yourself and don’t be too hard on yourself. There’s always a way forward.