Dad lost all money (~70L) in the stock market, seeking advice as a 22 y/o to make it all work

[minac]

@robinlynn1976 You mentioned loans from NBFCs, if your dad has multiple loans outstanding you should sort them in descending order of interest rate and pay them back.

Some banks also allow you to transfer loans to them for a one time fee, managing one financier will be better than dealing with multiple.

From what you shared, I think I know where you work, even when the RSUs vest, don't sell them, they nearly doubled this year and let's hope they get better.

 

[robinlynn1976]

@minac Sure brother I will look into this, thanks for the tips

 

[dallatu24]

@robinlynn1976 How are you getting 7% interest in 4.5L balance in idfc? They only provide 7% interest for > 5 lakh amount in Saving Account

 

[mayala03]

@robinlynn1976 Hey man

Just wanna say I am proud of you and your maturity.

Parents are not perfect

From what I have read, I am pretty confident that you are mature enough to deal with this. And know that not all money is lost. You seem to know what you are doing, the right and the wrong. Just take some time off. Accept parents'imperfection and rebuild happiness and stability.

Rest you will figure out I am sure.

proud of you homie

 

[robinlynn1976]

@mayala03 Thankyou for the kind words brother, hope I'm able to pull this off

 

[mayala03]

@robinlynn1976 You will. Don't stress my man. Ho jaayega. Tu us type ka Banda hai Jo problems se better banke bahar aata Hai. Give my regards to your parents. They are very lucky to have a son like you.

 

[dhow71]

@robinlynn1976 Bro my father lost lost 80l in a restaurant business and I 27(M) with 50k salary is paying whole emi taken against our property for last 4 yrs
No savings at all
Cnt plan for marriage or party is long way away
You atleast have savings as well as age on your side.
Don't take that much pressure bro,there are people in much much worse condition then you are still managing to live

 

[robinlynn1976]

@dhow71 Sorry to hear that brother, but this too shall pass, stay strong and I'm sure you'll do amazingly well for yourself and your family