FACT CHECK: Did The Telegraph Cover A Man Who Received $500k From His Uncle As Financial Advice?

Anna Mock | Fact Check Reporter

A photo shared on Facebook allegedly shows a Telegraph article covering a man saving for early retirement after being given significant amounts of money from relatives. 

Verdict: False 

The article is digitally altered. The original article found on Telegraph’s website features a man who “won’t inherit a penny.”

Fact Check:

President Joe Biden’s newest student loan repayment plan could cut down payments to 5% of the borrower’s income, but may not reduce balances, according to The Hill. At the same time, The U.S. hit its $31.4 trillion debt limit, raising concerns about a potential default in June, Politico reported.

A Facebook photo appears to show a tweet from Telegraph, a U.K. publication, claiming the publication used a man’s story about receiving significant help from family as financial advice. The post is accompanied by a man smiling at the camera on a park bench.

“Kyle, 28, has already paid off his student loans, owns his own home, and is prepared to retire at age 40,” the alleged post reads. “To save money on housing, he lived in his grandfather’s empty vacation home in Monterey for a few years to build up savings. Rather than borrow for a mortgage on a house, he used savings and a $500k gift from his uncle to purchase his first home.”

These images are digitally fabricated, however. The alleged article cannot be found on Telegraph’s website or any of its verified social media accounts. Likewise, Check Your Fact found no credible news reports to match the screenshots. (RELATED: Do Members Of Congress Receive Full-Pay Retirement Benefits After Serving Just One Term?)

The claim appears to be based on a genuine article from Telegraph, which does not include the details listed in the screenshots. The genuine article features a man named Nick Marsh. The headline claims he “won’t inherit a penny,” but still has a plan to retire early.

Check Your Fact has reached out to Telegraph for comment and will update this piece accordingly if one is received. 

Anna Mock

Fact Check Reporter

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