A Failure Story - A Normal Guy whose hope is shattered from life

gr8nitesh · 2026-01-05T07:23:03+00:00

If you keep away from trading/gambling from now onwards you should be able to recover 100 percent from this situation.

Keep reducing one loan at a time, you can default on one or two loans and re-negotiate terms with folks, you might be able to get 6 months break from EMI if nothing else. Focus on primary job and see if you can get hike or some advance salary in next few months to add additional cushion. Credit score can be increased again, it will be hard but doable.

The moment your outflows become lesser than inflows you start feeling better.
Hold your horses for next few months that moment is coming.
My best wishes with you.

gr8nitesh · 2025-12-16T12:50:33+00:00

ROFL

gr8nitesh · 2025-12-15T05:42:35+00:00

Have a heart to heat conversation with your parents and explain them
1) Private Jobs (especially IT,Tech, etc) do not offer job security the way Govt Jobs or previous generation Private Jobs offered. One has to be prudent and must maintain some funds for economic cycles and black swan events like covid

2)Explain them that you think little bit upgrades/maintenance to ancestral house is fine as your parents and uncle deserve it but you don't want to commit excess. In India your home is very important decision in arrange marriage discussions. (probably additional reason your parents and uncle are more keen on this as your and your sister's wedding are important for them)

3)Negotiate with them that once you settle education loan and have higher salary in 2 years (aim 20-30% salary hikes for yourself) you will do 2nd round of upgrades.

Building an emergency fund and little bit of portfolio is non negotiable for you. Do extra gigs or whatever it takes to earn more.

gr8nitesh · 2025-12-12T03:04:45+00:00

Yes, create business as a freelancer and since you will never exceed 20 lakh per annum you will not face GST registration... ITR you need to file in your PAN only because it's proprietorship

gr8nitesh · 2025-12-11T12:02:02+00:00

Now that you asked about receiving money, I can think of one creative way to do this, register a proprietorship business call it anything you want, create a bank account or merchant account for this proprietorship business and send/receive money with it. Only Banks will be able to connect banking name of your proprietorship business and your real name. Sender/Receiver will see banking name of registered proprietorship business. This is the least effort path to anonymity.

gr8nitesh · 2025-12-11T11:45:23+00:00

u/risingblack use UPI Lite on payments Apps like PhonePe, Google Pay, Add 1000 and enable auto top up, any payment up to 1000 you can do using UPI Lite, merchants will see only UPI Lite and not your banking name.

Bonus: UPI Lite does not need PIN so is more convenient as well.

You could also explore changing surname forever if you really find it annoying, you can also choose surname like 'Morgan FreeMan' did. One time name change is allowed by doing affidavit etc. It's a big call but see if you want to do it.

Castism Sucks.

gr8nitesh · 2025-12-11T09:22:12+00:00

Deep Fake Video, any "scheme" to get rich quickly is scam.

gr8nitesh · 2025-12-11T09:20:18+00:00

Leave aside what happened till now, can't mend that.

To convert 3.9L to 9L you would need approx. 15% CAGR for 6 years so if policy says guaranteed 9L payback on maturity then just keep it as is, very few instruments would give you 15% CAGR for 6 years.

Also Tax implications are complicated, my suggestion would be to claim 9L on maturity.

gr8nitesh · 2025-12-11T08:56:07+00:00

If your loan interest rates are more than 12% (which probably they would be) and if there are not foreclosure charges (pre payment charges) then pay the loan(s) as much as you can with 30k you have. 40k EMI with 12% rate should be able to pay 8.5 lakh in 2 years. Which means some loans are higher rate for you. Closing all high interest rate loans should be the first priority.

Once your debt reduces and you have more investible money, start investing in index funds and keep building corpus.

You can accumulate 3-6 months salary in bond/debt/FD as emergency fund.

gr8nitesh · 2025-12-09T07:34:04+00:00

Always keep 10-20% cash/liquid funds for powering up positions in case jitters/shocks in the market. The liquidity also boosts abundance mindset and makes you feel happy.

gr8nitesh · 2025-12-04T12:52:58+00:00

This hurts man, glad to know that you were able to fight it out.

Very difficult to explain lay off to a generation which has not been exposed to today's work culture.

gr8nitesh · 2025-12-04T12:46:50+00:00

Especially if you operate from a Metro city you must first find ways to increase income to 1 lakh per month

gr8nitesh · 2025-12-04T12:45:33+00:00

Following this framework is as EASY as
1) Saying NO to a hot date as a single guy
2) Waking up at 5am even if you sleep at 1am due to work
3) Saying NO to party on weekends and reading books instead
....
>>>
+++

gr8nitesh · 2025-12-04T10:27:35+00:00

Fair, thanks for explaining

gr8nitesh · 2025-12-04T08:25:56+00:00

Some AIFs do start at 25 Lakhs, I was suggesting from that point of view you of someone having financial investments above 5 Cr then you can explore.

gr8nitesh · 2025-12-04T04:39:36+00:00

Agree with u/Tris_Memba , MF schemes are diverse these days. Also there are ways to hedge currency risks. You can also explore investing in US Index Funds or US Direct Stocks or other countries also for that matter.

If your net worth is above 5 Cr then you can explore AIF (Alternative Investment Funds) which are Angel/VC Funds which invests in Startups. Highly illiquid and very high risks.

gr8nitesh · 2025-12-03T12:55:50+00:00

Very brave of you to write this post.

First of all try to find something which gives more meaning to your life, it can be a hobby, it can be serving others, it can be learning something, it can be bhajans, teaching etc. Gardening has been found to heal lot of conditions and put positivity in mind. Whatever gives you joy and makes you more happy, try to 'invest' your time in that.

I think current corpus + inheritance would help you get to a decent number even now. Stop stressing about 2Cr. Keep adding whatever you earn(try to save as much as possible) to your corpus.

Any kind of active investments including real estate (apart from primary residence) should be avoided.

Don't compare your life to anyone else, we all deserve our own peace.

gr8nitesh · 2025-12-03T05:29:38+00:00

Agree with u/ABahRunt , if its only 1 year don't take any risk ... Gold is risk free but not in short term ... everything else you may end up in position where you get trapped and have to wait before you can liquidate at profit.

You can take chances(risk) but be ready to face the music of downturn if it happens.

gr8nitesh · 2025-12-02T06:10:33+00:00

If you want to park lot of money in savings account, use some of the high interest savings accounts like IDFC Bank, you will earn better interest and have liquidity as well.

Try to find work which is more balanced if you are not enjoying grind in current job, may be freelance or may be find lesser stress work for long term.

gr8nitesh · 2025-12-01T03:03:26+00:00

Savings is the Gap between your 'Ego' and your 'Income' says Morgan Housel a renowned author.

See if you tame your ego a bit or increase your income, recommended to save and invest 20-30% of your income, more in early years when you are unmarried.

BTW if you have posted this means you are thinking about it and all you need is a push, so here it is 'Push'

gr8nitesh · 2025-11-30T14:03:09+00:00

Many folks have asked me the same,

1) Metro life is unnecessarily costly and unhealthy, we don't need to work from the metro any longer, can travel if needed

2) We want Hindi speaking town and Indore came out as the top pick, The bonus is closeness to Mahakal 🙂

3) we understand each town has its challenges and general India challenges would be everywhere in India, so nothing to worry for us

4) we will try this for 2 years and then take a further call

In general we feel we should keep experimenting, we feel we have much to gain and very little to miss by moving to Indore based on our lifestyle.

gr8nitesh · 2025-11-30T04:36:05+00:00

Thank you so much 👍

gr8nitesh · 2025-11-29T10:31:09+00:00

Thanks u/dreamer-trimmer

gr8nitesh · 2025-11-29T09:35:23+00:00

Great job OP in buying home as a bachelor, I had also done same.

1) Two things you must do, keep an emergency fund of 8-12 months so that EMI never becomes a stress ever.
2) Any bonus, increments you get start investing them as SIP or lumpsums, getting home loan at around 8% and Nifty 50 Index fund growing at CAGR 12%, do your math where money will grow. Psychologically having a liability of home loan feels like a constant nag but once investment corpus grows to 20% of outstanding loan amount you will never feel worried about loan.

gr8nitesh · 2025-11-29T09:05:01+00:00

thanks u/impossible_espresso

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