@muiris This is a usual case of a mismatch between one’s values and wealth principles.
He values hard work pero it doesn’t align with the proper use of debt, which is probably the reason why he hasn’t built enough assets so he can comfortably retire.
Try to have a conversation with him how he acquired such mindset.
Also try to frame the conversation around loss aversion and opportunity costs. He’s 55, is it ok to lose his savings to pay his debts if he gets sick? Is it ok to lose 240k (16% of 1.5m paid in interest)?240k could have been saved for other goals, where else can he use it if ever?
Instead of prescriptions, listen more. Kasi no parent wants to be told of what to do and how to think by the person he raised. Let him discover the consequences of his mindset especially if retired na sya and he can no longer earn 400k.