Hotness How did you dealt with your biggest financial l...

Hot Deal How did you dealt with your biggest financial loss?

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Deal Cadet
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It’s 4:30am, and I am writing this post. Can’t really sleep. Situation is tense, and I can’t find a way to calm my anxiety over past few days. Don’t know how to react, how to talk to my dear ones, how to cope with this.

I Lost hefty chunk of my savings to one of my cousin, we were in good terms all these years and with full trust. He was a trader, a business man, and a trustworthy friend of mine.

From past few years, say 2-3 years I use to lend him money every month for fixed 1.5% returns. He invested this in his business (hotel). The returns were on time. The trust grew and my investment with him grew too.

Everything was fine untill on Sunday evening he made a confession that he lost all his funds including mine in the month of February itself in Options trading (I do trade Options and know the risks and would had not had allowed my money to be traded in that risky segment, he lied me that he invested my money in his hotel buisness that yield him good profits). And he use to pay 1.5% from his pocket from last 2 month after this loss and now he has got nothing left. He showed me his bank statement.

He just cried, cried and cried, he has got 3 year old daughter, a wife and her old mother dependent on him. When he broke this news to me I didn’t know how to react, I just listened and kept listening. All this time I was numb, all I was thinking about how I saved that all money by comprising my needs that I gave him blindly.

The amount, for which a “Top end model INNOVA” car can be bought is all gone. Big chunk of my savings and I am unable to digest this fact. Can’t ask for the compensation, looking at his current situation, his family. Though he told me that he would payback the amount in installments every month, but that would take him 18 years as per the  promised amount. I have already lost all hopes, 18 years? With that consistancy, follow ups. Really? .Can’t imagine.

Really I want to get out of this guilt !! How to come out of this traumatic situation? Every minute, every moment this thought of losing this much amount when I could have easily avoided is killing my badly! I am broke. Please help.

46 Comments  |  
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Entertainer
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Khush raho, soch lo ki Bhagwaan ke naam par kisi Gareeb ko daan kar diyaa..
Aisa sochoge toh Bhagwaan bhi khush hoke tumko 21 din paisa double waali scheme mein register kar dega aur fir tumko kahin se apaar daulat praapt hogi…

Bas itna hai tumse kehna, bas itna hai tum se kehna…

Now coming back to main post, how I dealt with huge financial losses, I really didn’t took any huge financial risks so usually it has been like approximately 25k-40K multiple times. For few days, it does feel hard.

Stop thinking what you could have done with that money alternatively. This feeling becomes suicidal if you nurture it longer in your mind. Another good thing is you have created a short term loyal friend in him, just don’t pressurize him any further else he would revolt and become your anti. Jitna paisa dheere dheere deta ho le lo, and keep supporting him emotionally, but don’t pour more money in his basket.

Guilt might wane thin but it will stay forever, just don’t let it stick to your heart.

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Budding Star
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saucap wrote:

Khush raho, soch lo ki Bhagwaan ke naam par kisi Gareeb ko daan kar diyaa..
Aisa sochoge toh Bhagwaan bhi khush hoke tumko 21 din paisa double waali scheme mein register kar dega aur fir tumko kahin se apaar daulat praapt hogi…

Bas itna hai tumse kehna, bas itna hai tum se kehna…

Now coming back to main post, how I dealt with huge financial losses, I really didn’t took any huge financial risks so usually it has been like approximately 25k-40K multiple times. For few days, it does feel hard. Stop thinking what you could have done with that money alternatively.

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Blogger
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I can understand the pain. It hurts a lot. Man, it is so easy to give advice. Hmm. Money comes and goes, maybe this is the high time you reexamine your relationships. We need to put stoplosses to our relationships too

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Deal Cadet
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saucap wrote:

Khush raho, soch lo ki Bhagwaan ke naam par kisi Gareeb ko daan kar diyaa..
Aisa sochoge toh Bhagwaan bhi khush hoke tumko 21 din paisa double waali scheme mein register kar dega aur fir tumko kahin se apaar daulat praapt hogi…

Bas itna hai tumse kehna, bas itna hai tum se kehna…

Now coming back to main post, how I dealt with huge financial losses, I really didn’t took any huge financial risks so usually it has been like approximately 25k-40K multiple times. For few days, it does feel hard.

Stop thinking what you could have done with that money alternatively. This feeling becomes suicidal if you nurture it longer in your mind. Another good thing is you have created a short term loyal friend in him, just don’t pressurize him any further else he would revolt and become your anti. Jitna paisa dheere dheere deta ho le lo, and keep supporting him emotionally, but don’t pour more money in his basket.

Thanks for your concern bro.

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Deal Cadet
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bikidas2060 wrote:

I can understand the pain. It hurts a lot. Man, it is so easy to give advice. Hmm. Money comes and goes, maybe this is the high time you reexamine your relationships. We need to put stoplosses to our relationships too

I appreciate your response bro.

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Deal Cadet
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1.5% is pure greed even with a relative.

And you put many common finance principle on backseat to fulfill it.
If it too good to be true then don’t believe it.

Anyway you yourself said its like losing a new innova in accident that too without any physical loss.
Life teaches lessons each time after these setbacks .
Learn while enjoying in your old car. wink
Goodluck for future endeavors.

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Deal Cadet
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jambui wrote:

1.5% is pure greed even with a relative.

And you put many common finance principle on backseat to fulfill it.
If it too good to be true then don’t believe it.

Anyway you yourself said its like losing a new innova in accident that too without any physical loss.
Life teaches lessons each time after these setbacks .
Learn while enjoying in your old car. wink
Goodluck for future endeavors.

Thanks for the motivation, between about the greed part, 1.5% was justified when he said he makes 25% returns and wouldn’t mind sharing 1.5% with me

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Critic
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Your greed, high demand, however you wanna put it, doesn’t matter. What matters is you kept investing money behind something/ someone without having any clue where’s it going. I’m sorry this is entirely your fault, so I’m not really feeling sad about you. You can’t get the money back. Not unless you want to go the legal route. Even there it’ll take a lot of time, unless you can prove he assured your certain return on your investments. Court in that case might order him to sell properties (considering he owns all/ some of them) according to the value you’re due. But do you wanna go that path? If not, you can pretty much forget about the money.

I lost 50k, which was my entire savings after my father’s death, in Options too. I couldn’t deal with it for the time being, started breaking stuffs in home but that did nothing good, never does, then came to terms with it, uninstalled all the garbage trading apps and closed my trading account which had less than 10k by that time. That was the only right decision took.

The sooner you can come to term with your loss, the better. Keep working hard and aim how fast you can recover that money.

Good luck.

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Deal Subedar
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be strong bro..

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Deal Lieutenant
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You reminded me of my 661 looted by RComm.. 😣

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Deal Major
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161508 wrote:

You reminded me of my 661 looted by RComm.. 😣

Sometime back..they did ask the users to fill the form right for lost balance recovery? ( Bank/wallet transfer)
What happened after that? stuck_out_tongue

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Deal Lieutenant
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getready wrote:

Sometime back..they did ask the users to fill the form right for lost balance recovery? ( Bank/wallet transfer)
What happened after that? stuck_out_tongue

I was the one who created the thread about it

https://www.desidime.com/forums/dost-and-dimes/...

and I haven’t received the refund yet.. #irony

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Shopping Friend
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RPOWER looted around 6000+ at the time of IPO sold those shares at around 70 closed Demat forever

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Deal Lieutenant
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Sorry to sound blunt. But no investment is safe if it pays 18% pa interest. FD interest are below 8%. You wanted more return should have been willing to take risk of possible default.

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Deal Lieutenant
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To be frank your friend intentionally cheated you. Now playing victim game.
This is the modus operandi of these type of people. How can someone invest Rs20lacs in stock options and wait till zero. Unbelievable.
My friend’s mother was cheated by her own elder sister’s son.
On one fine day after taking 10lacs for business investment, he came back and told that assistant took all 10lacs and ran away.
She cried telling me the story, and how that cheater still roams free with no repentance.
Accept the mistake and consequences, make sure no more collateral damages. After all Life is most precious than money.

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Deal Lieutenant
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Neither a borrower, nor a lender be; For loan oft loses both itself and friend.

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Deal Lieutenant
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jambui wrote:

1.5% is pure greed even with a relative.

And you put many common finance principle on backseat to fulfill it.
If it too good to be true then don’t believe it.

Anyway you yourself said its like losing a new innova in accident that too without any physical loss.
Life teaches lessons each time after these setbacks .
Learn while enjoying in your old car. wink
Goodluck for future endeavors.

1.5% PM is nothing and very reasonable, there are many in our locality who charge even 10-20% per month because these unsecured loans can become NPA any moment. And believe me they earn a lot more than a software engineer, no tax nothing. Although few people cheat yet its profitable but involves mental strain and sort of street fights/high decibel arguments.
OP is naive to invest so much based on trust.

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caks2006407 wrote:

To be frank your friend intentionally cheated you. Now playing victim game.
This is the modus operandi of these type of people. How can someone invest Rs20lacs in stock options and wait till zero. Unbelievable.
My friend’s mother was cheated by her own elder sister’s son.
On one fine day after taking 10lacs for business investment, he came back and told that assistant took all 10lacs and ran away.
She cried telling me the story, and how that cheater still roams free with no repentance.
Accept the mistake and consequences, make sure no more collateral damages. After all Life is most precious than money.

Not a big deal to lose 20L in options trading if you don’t have the discipline of stop loss. Many fail to realise that options are the most riskiest and the keep hoping the trend will change any moment doubling their money. They will wait till the expiry, losing everything in a matter of weeks.

Just to be sure OP can check the trade statements his cousin would have received.

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Community Angel
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161508 wrote:

You reminded me of my 661 looted by RComm.. 😣

Mazaak chal rahaa kya yahaa smiling_imp
He lost 7 figure amount and you are still crying for 661. angry
Oh bhi offers se recharge kiya hoga, dimer jo thahere lol

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Blogger
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_One_Miller_ wrote:

Mazaak chal rahaa kya yahaa angry smiling_imp
He lost 6 figure amount and you are still crying for 661.
Woh bhi offers se recharge kiya hoga, dimer jo thahere lol wink

Bhai you can’t get Innova top end model for a 6 digit figure.. Make it 7 digit

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Community Angel
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rsai01 wrote:

Bhai you can’t get Innova top end model for a 6 digit figure.. Make it 7 digit

Done. wink

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Community Angel
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To @flawlessking
Take partnership in his Hotel Business equivalent to the outstanding amount.

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Deal Cadet
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think how much time it will take for you to earn that money back… if it is less than 3-4 years then its not a big deal.. dont take too much tension..

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Deal Newbie
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I can really feel your pain bro because we are feeling the same situation from 2 years. We had given money to some reputated people of our city on 1.25% but after demonetization first they start to denied for interest and later on(2019) principle amount too. We have filed all case in court but now corona come and our last hope is also gone.

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Deal Lieutenant
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_One_Miller_ wrote:

Mazaak chal rahaa kya yahaa smiling_imp
He lost 7 figure amount and you are still crying for 661. angry
Oh bhi offers se recharge kiya hoga, dimer jo thahere lol


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Deal Cadet
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Take this is as lesson. And from next step keep this mind. Don’t try to come this everytime in your mind as this casues more stress. Learn from this and do check before doing anything . Ask yourself is right or wrong step? And also consult elder one from home before taking such big decisions .

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Tech Guru
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Futures and Options and intraday tradings are as good as gambling
Trade only with long term and invest only that much amount which you can forget after investing then only you can make profit. greed in share market yealds mostly loss.
Never ever give loan to any friend or relative seeking monthly returns he can deny anytime and you may not do anything
Now try to think something else as tension will make things worse whatever happened is happened hope for more good upcoming things and surprise in your life , life has many good things ahead for you move on

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Same thing already happened with me also but in my case my friend run away from city in midnight.actually in 2016 i gave him 12 lakhs for his business setup on 1% interest.but he never returned me money and one day he run away from city.i was shattered from inside because all my saving was gone in this.then from other persons i got to know that he also borrowed some money from others also.one day someone find him in other city.but he stood in front of city DM and said that sir these 5-6 peoples want money from him so if he was killed in any where.you can arrest them all and interrogate.then we leave that guy and never contacted him.From that time till now i never give money to anyone.

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